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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUNDS
<br />December 31, 2019
<br />With Comparative Data as of December 31, 2018
<br />Water Sewer
<br />(601)(602)2019 2018
<br />Assets:
<br />Current assets:
<br /> Cash and investments 735,775$ 994,498$ 1,730,273$ 1,482,596$
<br /> Accounts receivable:
<br /> Customers 366,988 449,728 816,716 758,757
<br /> Certified to County 29,810 29,110 58,920 57,829
<br /> Other 10,200 2,172 12,372 10,753
<br /> Prepaid items 1,391 75,906 77,297 69,666
<br />Total current assets 1,144,164 1,551,414 2,695,578 2,379,601
<br />Noncurrent assets:
<br /> Capital assets:
<br /> Permanent easements - 103,301 103,301 103,301
<br /> Construction - 6,065 6,065 10,030
<br /> Equipment 504,979 645,637 1,150,616 732,861
<br /> Mains and systems 10,876,007 7,731,225 18,607,232 18,527,045
<br /> Total capital assets 11,380,986 8,486,228 19,867,214 19,373,237
<br /> Less: Accumulated depreciation (6,908,332) (4,740,562) (11,648,894) (11,263,258)
<br />Net capital assets 4,472,654 3,745,666 8,218,320 8,109,979
<br />Total noncurrent assets 4,472,654 3,745,666 8,218,320 8,109,979
<br />Total assets 5,616,818 5,297,080 10,913,898 10,489,580
<br />Deferred outflows:
<br /> Deferred outflows related to pension 15,795 16,145 31,940 77,924
<br />Total deferred outflows 15,795 16,145 31,940 77,924
<br />Liabilities:
<br />Current liabilities:
<br /> Accounts payable 78,614 48,268 126,882 116,927
<br /> Due to other governmental units 6,440 - 6,440 4,739
<br /> Compensated absences payable 2,175 2,244 4,419 5,306
<br />Total current liabilities 87,229 50,512 137,741 126,972
<br />Noncurrent liabilities:
<br /> Compensated absences payable 33,451 34,489 67,940 55,274
<br /> Net pension liability 179,702 183,690 363,392 431,576
<br />Total noncurrent liabilities 213,153 218,179 431,332 486,850
<br />Total liabilities 300,382 268,691 569,073 613,822
<br />Deferred inflows:
<br /> Deferred inflows related to pension 48,105 49,172 97,277 122,119
<br />Total deferred inflows 48,105 49,172 97,277 122,119
<br />Net position:
<br /> Net investment in capital assets 4,472,654 3,745,666 8,218,320 8,109,979
<br /> Unrestricted 811,472 1,249,696 2,061,168 1,721,584
<br />Total net position 5,284,126$ 4,995,362$ 10,279,488$ 9,831,563$
<br />Business-Type Activities Totals
<br />The accompanying notes are an integral part of these basic financial statements.
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