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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUNDS
<br />December 31, 2020
<br />With Comparative Data as of December 31, 2019
<br />Governmental
<br />Activities-
<br />Insurance
<br />Water Sewer Internal Service
<br />(601)(602)2020 2019 Fund (700)
<br />Assets:
<br />Current assets:
<br /> Cash and investments 811,411$ 1,112,809$ 1,924,220$ 1,730,273$ 16,731$
<br /> Accounts receivable:
<br /> Customers 388,148 447,464 835,612 816,716 -
<br /> Certified to County 28,471 26,643 55,114 58,920 -
<br /> Other 16,006 3,599 19,605 12,372 -
<br /> Prepaid items 180 78,638 78,818 77,297 6,689
<br />Total current assets 1,244,216 1,669,153 2,913,369 2,695,578 23,420
<br />Noncurrent assets:
<br /> Capital assets:
<br /> Permanent easements - 103,301 103,301 103,301 -
<br /> Construction - -- 6,065 -
<br /> Equipment 516,241 645,637 1,161,878 1,150,616 -
<br /> Mains and systems 10,910,746 7,878,987 18,789,733 18,607,232 -
<br /> Total capital assets 11,426,987 8,627,925 20,054,912 19,867,214 -
<br /> Less: Accumulated depreciation (7,161,041) (4,900,364) (12,061,405) (11,648,894) -
<br />Net capital assets 4,265,946 3,727,561 7,993,507 8,218,320 -
<br />Total noncurrent assets 4,265,946 3,727,561 7,993,507 8,218,320 -
<br />Total assets 5,510,162 5,396,714 10,906,876 10,913,898 23,420
<br />Deferred outflows:
<br /> Deferred outflows related to pension 26,905 27,200 54,105 31,940 -
<br />Total deferred outflows 26,905 27,200 54,105 31,940 -
<br />Liabilities:
<br />Current liabilities:
<br /> Accounts payable 4,480 3,115 7,595 126,882 8
<br /> Due to other governmental units 80,699 118,810 199,509 6,440 -
<br /> Compensated absences payable 20,515 20,894 41,409 4,419 -
<br />Total current liabilities 105,694 142,819 248,513 137,741 8
<br />Noncurrent liabilities:
<br /> Compensated absences payable 18,640 19,064 37,704 67,940 -
<br /> Net pension liability 207,971 210,247 418,218 363,392 -
<br />Total noncurrent liabilities 226,611 229,311 455,922 431,332 -
<br />Total liabilities 332,305 372,130 704,435 569,073 8
<br />Deferred inflows:
<br /> Deferred inflows related to pension 17,491 17,683 35,174 97,277 -
<br />Total deferred inflows 17,491 17,683 35,174 97,277 -
<br />Net position:
<br /> Investment in capital assets 4,265,946 3,727,561 7,993,507 8,218,320 -
<br /> Unrestricted 921,325 1,306,540 2,227,865 2,061,168 23,412
<br />Total net position 5,187,271$ 5,034,101$ 10,221,372$ 10,279,488$ 23,412$
<br /> Some amounts reports for business-type activities in the statement of net
<br /> position are different because certain internal service fund assets and liabilities
<br /> are included with business-type activities.11,834
<br />Total
<br />Business-Type Activities -Enterprise Funds
<br />$ 10,233,206
<br />44
<br />The accompanying notes are an integral part of these financial statements.
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