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CITY OF LITTLE CANADA, MINNESOTA <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />DECEMBER 31, 2019 <br /> <br /> <br /> <br /> <br /> <br />NOTE 9 OTHER POSTEMPLOYMENT BENEFITS <br />The City does not provide postemployment benefits other than permitting retired employees to continue <br />in the City’s group health insurance plan, as required by Minnesota Statutes. The retiree is required to <br />pay 100% of the premium. The premium charged is a single common premium for both active and <br />retired employees. This practice has the potential to create an OPEB liability based on the theory that <br />retirees have higher utilization of health care benefits than active employees (implicit rate subsidy). <br /> <br />The City has determined the liability resulting from an implicit rate subsidy is not material and, <br />therefore, not included in these financial statements. <br /> <br /> <br />NOTE 10 INTERFUND RECEIVABLES/PAYABLES, LOANS AND TRANSFERS <br />The City had the following interfund transfers: <br /> <br /> Transfers In <br />Transfers Out <br />General <br />Fund <br />TIF Bonds <br />2001A <br />General <br />Capital <br />Improvement <br /> <br />Rice/LC Road <br />Development <br /> <br />Infrastructure <br />CIP <br />Water/Sewer <br />Equipment <br />Replacement <br />Other <br />Governmental <br />Funds Total <br /> General Capital Improvement $ - $ - $ - $86,385 $ - $ - $ - $86,385 <br /> Rice/LC Road Development 3,479 971,250 - - 48,309 - - 1,023,038 <br /> Infrastructure CIP - - 4,094 - - - - 4,094 <br /> Water/Sewer Equip. Replace. - - - - - - $229,500 229,500 <br /> Other Governmental Funds 95,199 - 31,401 - - - 147,128 273,728 <br /> Water Proprietary Fund - - - - - 200,000 - 200,000 <br /> Sewer Proprietary Fund - - - - - 100,000 - 100,000 <br />Total $98,678 $971,250 $35,495 $86,385 $48,309 $300,000 $376,628 $1,916,745 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />71