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CITY OF LITTLE CANADA, MINNESOTA
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2020
<br />NOTE 3 RECEIVABLES
<br />Significant receivable balances not expected to be collected within one year of December 31, 2020 are
<br />as follows:
<br />Fund
<br />Property
<br />Taxes
<br />Receivable
<br />Special
<br />Assessment
<br />Receivable
<br />Advances
<br />to Other
<br />Funds
<br />Other
<br />Receivable Total
<br />General Fund $22,200 $ - $ 554,019 $ - $ 576,219
<br />Canabury Square Condominium HIA - 871,197 - - 871,197
<br />Infrastructure CIP 600 1,194,347 - - 1,194,947
<br />Owasso/Woodlyn Redevelopment
<br />Area - - - 533,100 533,100
<br />Water/Sewer Equipment Replacement - 51,676 600,423 - 652,099
<br />Nonmajor Funds 800 48,344 1,347 - 50,491
<br />Total $23,600 $2,165,564 $1,155,789 $533,100 $3,878,053
<br />NOTE 4 UNAVAILABLE REVENUE
<br />Governmental funds report deferred inflows of resources in connection with receivables for revenues
<br />that are considered not available to liquidate liabilities for the current period. At the end of the current
<br />fiscal year, the various components of unavailable revenue reported in the governmental funds were as
<br />follows:
<br />Fund
<br />Property
<br />Taxes
<br />Special
<br />Assessments Other Total
<br />General Fund $47,185 $ - $ 3,213 $ 50,398
<br />Canabury Square Condominium HIA - 948,733 - 948,733
<br />Infrastructure CIP 1,254 1,299,271 - 1,300,525
<br />TIF 6-1 Masterpiece 21 - - 21
<br />Owasso/Woodlyn Redevelopment Area - - 594,000 594,000
<br />Water/Sewer Equipment Replacement - 51,676 - 51,676
<br />Nonmajor Funds 2,189 60,063 5,212 67,464
<br />Total $50,649 $2,359,743 $602,425 $3,012,817
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