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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENDITURES AND
<br />CHANGES IN FUND BALANCE
<br />GOVERNMENTAL FUNDS
<br />For The Year Ended December 31, 2020
<br />With Comparative Data for the Year Ended December 31, 2019
<br />Canabury Square General
<br />Economic Condominium Capital Infrastructure
<br />General Development HIA Improvements CIP
<br />Revenues:Fund (105)(362)(400)(450)
<br /> General property taxes 3,211,630$ -$ -$ -$ 122,799$
<br /> Franchise taxes - - - - 361,335
<br /> Excess tax increment taxes - - - 24,931 -
<br /> Tax increment collections - - - - -
<br /> Special assessments 2,350 - 305,822 - 659,168
<br /> Licenses and permits 221,328 - -- -
<br /> Intergovernmental 1,164,109 - -347,503 2,498,052
<br /> Charges for services 63,761 - -- -
<br /> Fines and forfeits 24,151 - -- -
<br /> Investment earnings (loss)84,462 27,186 - 42,469 86,925
<br /> Principal repayment - 600,000 - --
<br /> Connection charges - -- -260
<br /> Contributions - -- --
<br /> Donations 2,895 - - 101,660 -
<br /> Miscellaneous 102,560 - - 118,469 32,663
<br /> Total revenues 4,877,246 627,186 305,822 635,032 3,761,202
<br />Expenditures:
<br /> Current:
<br /> General government 568,805 - 310 500 1,700
<br /> Housing and economic development - - - - -
<br /> Public safety 2,557,076 - - - -
<br /> Public works 443,077 - - - 817
<br /> Sanitation and recycling - - - - -
<br /> Parks and recreation 470,425 - - - -
<br /> Capital outlay:
<br /> General government - - - 44,621 -
<br /> Public safety - - - 29,721 -
<br /> Public works - - - 104,562 4,607,813
<br /> Parks and recreation - - - 222,701 -
<br /> Debt service:
<br /> Principal retirement - - 6,918 - -
<br /> Interest - 24,068 30,516 - -
<br /> Fiscal charges - -- - -
<br /> Miscellaneous - -263 - -
<br /> Total expenditures 4,039,383 24,068 38,007 402,105 4,610,330
<br />Revenues over (under) expenditures 837,863 603,118 267,815 232,927 (849,128)
<br />Other financing sources (uses):
<br /> Transfers in 98,565 - - 23,300 402,292
<br /> Transfers out - - - - (23,300)
<br /> Proceeds from the sale of capital assets - - - 40,000 -
<br /> Total other financing sources (uses)98,565 - - 63,300 378,992
<br />Net increase (decrease) in fund balance 936,428 603,118 267,815 296,227 (470,136)
<br />Fund balance - January 1 3,121,470 (589,698) (817,650) 1,663,637 3,474,818
<br />Fund balance - December 31 4,057,898$ 13,420$ (549,835)$ 1,959,864$ 3,004,682$
<br />40
<br />The accompanying notes are an integral part of these financial statements.
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