|
CITY OF LITTLE CANADA, MINNESOTA
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2019
<br />
<br />
<br />
<br />
<br />
<br />NOTE 3 RECEIVABLES
<br />Significant receivable balances not expected to be collected within one year of December 31, 2019 are
<br />as follows:
<br />
<br />Fund
<br />Property
<br />Tax/Tax
<br />Increment
<br />Receivable
<br />Special
<br />Assessment
<br />Receivable
<br />Advances
<br />to Other
<br />Funds
<br />Loan
<br />Receivable Total
<br />General Fund $52,650 $ - $ 761,178 $ - $ 813,828
<br />Economic Development - - - 600,000 600,000
<br />Canabury Square Condo. - 1,192,738 - - 1,192,738
<br />Rice/LC Road Development - 27,372 - - 27,372
<br />Infrastructure CIP 1,726 1,235,713 - - 1,237,439
<br />Water/Sewer Equip. Replace. - 56,465 1,342,881 - 1,399,346
<br />Nonmajor Funds 1,764 38,223 - - 39,987
<br />Total $56,140 $2,550,511 $2,104,059 $600,000 $5,310,710
<br />
<br />
<br />NOTE 4 UNAVAILABLE REVENUE
<br />Governmental funds report deferred inflows of resources in connection with receivables for revenues
<br />that are considered not available to liquidate liabilities for the current period. At the end of the current
<br />fiscal year, the various components of unavailable revenue reported in the governmental funds were as
<br />follows:
<br />
<br />Fund
<br />Property
<br />Taxes
<br />Special
<br />Assessments Other Total
<br />General Fund $52,650 $ - $ 64,644 $ 117,294
<br />Economic Development - - 600,000 600,000
<br />Canabury Square Condo. - 1,192,738 - 1,192,738
<br />Rice/LC Road Development - 27,372 - 27,372
<br />Infrastructure CIP 1,726 1,235,713 156,726 1,394,165
<br />Water/Sewer Equip. Replace. - 56,465 - 56,465
<br />Nonmajor Funds 1,764 38,223 - 39,987
<br />Total $56,140 $2,550,511 $821,370 $3,428,021
<br />
<br />
<br />
<br />
<br />
<br />61
|