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CITY OF LITTLE CANADA, MINNESOTA
<br />CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
<br />Last Ten Fiscal Years
<br />(modified accrual basis of accounting)
<br />2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
<br />Revenues
<br />Property taxes 2,473,215$ 2,538,940$ 2,630,396$ 2,730,953$ 2,846,061$ 2,904,266$ 3,009,596$ 3,030,586$ 3,294,816$ 3,398,344$
<br />Franchise taxes 272,464 337,787 335,798 336,567 125,594 127,865 133,804 135,557 480,454 477,274
<br />Tax increment collections 977,941 1,103,051 1,133,565 1,006,339 1,016,898 913,126 1,217,988 932,165 467,862 538,791
<br />Special assessments 1,416,871 1,092,087 904,966 1,047,045 1,380,810 1,092,822 1,302,179 1,022,706 985,904 680,632
<br />Licenses and permits 249,930 306,885 202,081 219,861 562,968 716,247 904,927 643,841 300,059 497,295
<br />Intergovernmental 1,430,111 370,739 366,560 702,837 537,770 580,382 2,289,007 591,857 644,422 729,203
<br />Charges for services 671,491 762,629 658,254 640,900 467,915 509,380 519,062 474,145 487,175 555,480
<br />Fines and forfeits 44,652 37,697 45,304 46,705 46,571 40,325 42,311 44,707 48,569 49,408
<br />Investment earnings 444,303 474,220 329,020 128,565 490,497 302,870 286,814 316,795 299,521 530,625
<br />Connection charges - - - - - - - - - 51,120 (1)
<br />Contributions & donations 42,710 38,010 25,770 150,929 102,235 136,826 294,559 102,107 140,461 239,716
<br />Miscellaneous 240,945 750,902 316,972 1,753,297 193,005 810,513 1,180,067 2,824,153 293,261 755,184
<br />Total revenues 8,264,633 7,812,947 6,948,686 8,763,998 7,770,324 8,134,622 11,180,314 10,118,619 7,442,504 8,503,072
<br />Expenditures
<br />Current:
<br />General government 686,643 568,468 549,247 1,199,753 610,946 532,783 725,713 964,130 1,414,365 515,613
<br />Housing & economic development - - - - - - - - - 690,771
<br />Public safety 1,745,868 1,796,670 1,771,291 1,821,496 1,914,846 1,976,340 2,029,462 2,185,949 2,311,243 2,492,581
<br />Public works 2,238,550 2,172,169 1,215,013 1,597,274 348,496 465,709 424,927 533,914 460,543 484,906
<br />Sanitation and recycling - - - - - - - - - 413,046
<br />Culture and recreation 5,140,376 1,208,269 1,019,037 995,854 908,230 919,326 925,496 899,477 1,515,483 572,853
<br />Capital outlay 419,455 114,163 478,224 2,447,618 4,773,436 3,944,063 6,469,797 3,186,475 1,579,493 1,943,411
<br />Debt Service:
<br />Principal retirement 960,647 590,357 2,058,742 528,406 525,100 690,792 876,470 622,069 1,863,094 1,268,077
<br />Interest 459,071 549,892 488,365 411,671 369,763 475,330 428,465 362,261 318,745 244,372
<br />Fiscal charges - 2,535 2,233 2,722 22,020 21,615 625 447 1,290 950
<br />Miscellaneous - - - - 72,776 45,280 - - 477 8,327
<br />Total expenditures 11,650,610 7,002,523 7,582,152 9,004,794 9,545,613 9,071,238 11,880,955 8,754,722 9,464,733 8,634,907
<br />Revenues over (under) expenditures (3,385,977) 810,424 (633,466) (240,796) (1,775,289) (936,616) (700,641) 1,363,897 (2,022,229) (131,835)
<br />Other Financing Sources (Uses)
<br />Transfers in 2,033,213 1,989,981 2,918,140 2,270,044 1,025,322 1,956,117 1,801,318 1,713,060 1,185,418 1,916,745
<br />Transfers out (1,778,634) (1,739,981) (2,668,140) (1,970,044) (725,322) (1,656,117) (1,501,318) (1,413,060) (885,418) (1,616,745)
<br />Bonds issued - - - - 3,400,000 1,335,000 - - - -
<br />Notes issued 400,000 - - - - - - - - -
<br />Premium on debt issued - - - - 82,931 21,847 - - - -
<br />Payment to refunded bond escrow - - - - - - (1,400,000) - - -
<br />Proceeds from sale of capital assets - - - - 1,000 5,000 508,556 74,101 85,000 34,500
<br />Total other financing sources (uses)654,579 250,000 250,000 300,000 3,783,931 1,661,847 (591,444) 374,101 385,000 334,500
<br />Net change in fund balances (2,731,398)$ 1,060,424$ (383,466)$ 59,204$ 2,008,642$ 725,231$ (1,292,085)$ 1,737,998$ (1,637,229)$ 202,665$
<br />Debt service as a percentage of
<br />noncapital expenditures 14.7%20.2%38.1%16.1%15.6%21.9%23.3%16.3%26.5%20.3%
<br />Note: (1) Connection charges in charges for services prior to 2019115
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