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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES AND
<br />CHANGES IN FUND 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 />Operating revenues:
<br /> Charges for services - user fees 1,618,003$ 1,466,543$ 3,084,546$ 3,001,552$ 257,261$
<br /> Water meter sales 3,714 - 3,714 6,873 -
<br /> Other 1,318 1,255 2,573 170 -
<br />Total operating revenues 1,623,035 1,467,798 3,090,833 3,008,595 257,261
<br />Operating expenses:
<br />Personal services 331,978 333,609 665,587 574,100 135,356
<br />MCES - sewer service charge - 893,678 893,678 789,424 -
<br />Purchased water 969,876 - 969,876 912,815 -
<br />Supplies, services, and other charges 114,657 122,168 236,825 223,623 -
<br />Insurance and claims - - - - 98,802
<br /> Depreciation 253,933 159,802 413,735 385,636 -
<br />Total operating expenses 1,670,444 1,509,257 3,179,701 2,885,598 234,158
<br />Operating income (loss)(47,409) (41,459) (88,868) 122,997 23,103
<br />Nonoperating revenues (expenses):
<br />Investment earnings 21,678 28,580 50,258 55,039 309
<br />Rental of City Property 81,905 - 81,905 78,755 -
<br />Loss on disposal of capital asset (4,892) - (4,892) - -
<br />Miscellaneous revenue 3,095 3,856 6,951 2,447 -
<br />Total nonoperating revenues (expenses)101,786 32,436 134,222 136,241 309
<br />Income (loss) before
<br /> contributions and transfers 54,377 (9,023) 45,354 259,238 23,412
<br />Capital contributions 48,768 147,762 196,530 488,687 -
<br />Transfer to Capital Project Fund (200,000) (100,000) (300,000) (300,000) -
<br /> Total transfers (200,000) (100,000) (300,000) (300,000) -
<br />Change in net position (96,855) 38,739 (58,116) 447,925 23,412
<br />Net position - January 1 5,284,126 4,995,362 10,279,488 9,831,563 -
<br />Net position - December 31 5,187,271$ 5,034,101$ 10,221,372$ 10,279,488$ 23,412$
<br />Change in net position reported above (58,116)
<br />Adjustment to reflect the consolidation of internal service fund activities
<br />related to enterprise funds 11,834
<br />Change in net position of business-type activities (46,282)$
<br />Total
<br />Business-Type Activities -Enterprise Funds
<br />45
<br />The accompanying notes are an integral part of these financial statements.
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