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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 />2012 2013 2014 2015 2016 2017 2018 2019 2020
<br />Revenues
<br />Property taxes 2,630,396$ 2,730,953$ 2,846,061$ 2,904,266$ 3,009,596$ 3,030,586$ 3,294,816$ 3,398,344$ 3,519,584$
<br />Franchise taxes 335,798 336,567 125,594 127,865 133,804 135,557 480,454 477,274 477,184
<br />Tax increment collections 1,133,565 1,006,339 1,016,898 913,126 1,217,988 932,165 467,862 538,791 570,105
<br />Special assessments 904,966 1,047,045 1,380,810 1,092,822 1,302,179 1,022,706 985,904 680,632 974,538
<br />Licenses and permits 202,081 219,861 562,968 716,247 904,927 643,841 300,059 497,295 221,328
<br />Intergovernmental 366,560 702,837 537,770 580,382 2,289,007 591,857 644,422 729,203 4,015,015
<br />Charges for services 658,254 640,900 467,915 509,380 519,062 474,145 487,175 555,480 552,607
<br />Fines and forfeits 45,304 46,705 46,571 40,325 42,311 44,707 48,569 49,408 24,151
<br />Investment earnings 329,020 128,565 490,497 302,870 286,814 316,795 299,521 530,625 442,497
<br />Connection charges - - - - - - - 51,120 260 (1)
<br />Contributions & donations 25,770 150,929 102,235 136,826 294,559 102,107 140,461 239,716 197,168
<br />Miscellaneous 316,972 1,753,297 193,005 810,513 1,180,067 2,824,153 293,261 755,184 1,200,313
<br />Total revenues 6,948,686 8,763,998 7,770,324 8,134,622 11,180,314 10,118,619 7,442,504 8,503,072 12,194,750
<br />Expenditures
<br />Current:
<br />General government 549,247 1,199,753 610,946 532,783 725,713 964,130 1,414,365 515,613 575,115
<br />Housing & economic development - - - - - - - 690,771 226,265
<br />Public safety 1,771,291 1,821,496 1,914,846 1,976,340 2,029,462 2,185,949 2,311,243 2,492,581 2,557,076
<br />Public works 1,215,013 1,597,274 348,496 465,709 424,927 533,914 460,543 484,906 514,870
<br />Sanitation and recycling - - - - - - - 413,046 448,249
<br />Culture and recreation 1,019,037 995,854 908,230 919,326 925,496 899,477 1,515,483 572,853 554,358
<br />Capital outlay 478,224 2,447,618 4,773,436 3,944,063 6,469,797 3,186,475 1,579,493 1,943,411 5,283,521
<br />Debt Service:
<br />Principal retirement 2,058,742 528,406 525,100 690,792 876,470 622,069 1,863,094 1,268,077 301,859
<br />Interest 488,365 411,671 369,763 475,330 428,465 362,261 318,745 244,372 176,764
<br />Fiscal charges 2,233 2,722 22,020 21,615 625 447 1,290 950 950
<br />Miscellaneous - - 72,776 45,280 - - 477 8,327 1,068
<br />Total expenditures 7,582,152 9,004,794 9,545,613 9,071,238 11,880,955 8,754,722 9,464,733 8,634,907 10,640,095
<br />Revenues over (under) expenditures (633,466) (240,796) (1,775,289) (936,616) (700,641) 1,363,897 (2,022,229) (131,835) 1,554,655
<br />Other Financing Sources (Uses)
<br />Transfers in 2,918,140 2,270,044 1,025,322 1,956,117 1,801,318 1,713,060 1,185,418 1,916,745 1,200,585
<br />Transfers out (2,668,140) (1,970,044) (725,322) (1,656,117) (1,501,318) (1,413,060) (885,418) (1,616,745) (900,585)
<br />Bonds issued - - 3,400,000 1,335,000 - - - - -
<br />Notes issued - - - - - - - - -
<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 40,000
<br />Total other financing sources (uses)250,000 300,000 3,783,931 1,661,847 (591,444) 374,101 385,000 334,500 340,000
<br />Net change in fund balances (383,466)$ 59,204$ 2,008,642$ 725,231$ (1,292,085)$ 1,737,998$ (1,637,229)$ 202,665$ 1,894,655$
<br />Debt service as a percentage of
<br />noncapital expenditures 38.1%16.1%15.6%21.9%23.3%16.3%26.5%20.3%6.8%
<br />Note: (1) Connection charges in charges for services prior to 2019119
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