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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />December 31, 2019
<br />Governmental Business-Type
<br />Activities Activities 2019
<br />Assets:
<br />Cash and investments 13,956,739$ 1,730,273$ 15,687,012$
<br />Accrued interest receivable 32,974 - 32,974
<br />Due from other governmental units - net 327,408 - 327,408
<br />Accounts receivable - net 409,647 888,008 1,297,655
<br />Prepaid items 10,807 77,297 88,104
<br />Delinquent property taxes receivable 56,140 - 56,140
<br />Due from county 152,843 - 152,843
<br />Special assessments receivable 2,550,511 - 2,550,511
<br />Notes receivable 600,000 - 600,000
<br />Properties held for resale 417,155 - 417,155
<br />Capital assets:
<br />Nondepreicable 6,506,972 109,366 6,616,338
<br />Depreciable 22,358,528 8,108,954 30,467,482
<br /> Total assets 47,379,724 10,913,898 58,293,622
<br />Deferred outflows of resources:
<br />Deferred outflows related to city pensions 44,838 31,940 76,778
<br /> Total deferred outflows of resources 44,838 31,940 76,778
<br />Total assets and deferred outflows of resources 47,424,562$ 10,945,838$ 58,370,400$
<br />Liabilities:
<br />Accounts payable 779,057$ 126,882$ 905,939$
<br />Salaries payable 34,025 - 34,025
<br />Contracts payable 151,772 - 151,772
<br />Due to other governmental units 70,453 6,440 76,893
<br />Deposits payable 6,682 - 6,682
<br />Unearned revenue 4,351 - 4,351
<br />Compensated absences payable:
<br /> Due within one year 5,854 4,419 10,273
<br /> Due in more than one year 95,636 67,940 163,576
<br />Net pension liability:
<br /> Due in more than one year 510,154 363,392 873,546
<br />Accrued interest payable 42,163 - 42,163
<br />Bonds and notes payable:
<br /> Due within one year 308,791 - 308,791
<br /> Due in more than one year 3,464,313 - 3,464,313
<br /> Total liabilities 5,473,251 569,073 6,042,324
<br />Deferred inflows of resources:
<br />Deferred inflows related to pension 136,564 97,277 233,841
<br /> Total deferred inflows of resources 136,564 97,277 233,841
<br />Net position:
<br />Net investment in capital assets 24,872,181 8,218,320 33,090,501
<br />Restricted for:
<br /> Fire equipment 255,445 - 255,445
<br /> Public works 156,726 - 156,726
<br /> Park acquisition 878,053 - 878,053
<br /> Capital improvements 78,000 - 78,000
<br /> Charitable gambling 63,147 - 63,147
<br /> Debt retirement 74,260 - 74,260
<br /> Tax increment purposes 2,251,401 - 2,251,401
<br />Unrestricted 13,185,534 2,061,168 15,246,702
<br /> Total net position 41,814,747 10,279,488 52,094,235
<br />Total liabilities, deferred inflows of resources
<br />and net position 47,424,562$ 10,945,838$ 58,370,400$
<br />Primary Government
<br />The accompanying notes are an integral part of these financial statements.
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