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CITY OF LITTLE CANADA, MINNESOTA
<br />Management’s Discussion and Analysis (continued)
<br />Year Ended December 31, 2021
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<br />The following is a summary of the City’s change in net position:
<br /> City of Little Canada Changes in Net Position
<br />
<br /> Governmental Activities Business-Type Activities Total Primary Government
<br /> 2021 2020 2021 2020 2021 2020
<br />Revenues:
<br /> Program revenues:
<br /> Charges for services $908,285 $966,317 $3,484,513 $3,179,689 $4,392,798 $4,146,006
<br /> Operating grants and contributions 343,816 1,084,749 - - 343,816 1,084,749
<br /> Capital grants and contributions 1,019,104 1,980,479 - - 1,019,104 1,980,479
<br /> General revenues: Property taxes 3,601,885 3,514,093 - - 3,601,885 3,514,093
<br /> Other taxes 1,187,896 1,052,501 - - 1,187,896 1,052,501
<br /> Grants and contributions not restricted to specific programs 434,909 434,379 - - 434,909 434,379
<br /> Unrestricted investment earnings 6,597 442,806 (4,420) 50,258 2,177 493,064
<br /> Other - 318,000 - - - 318,000
<br /> Gain on sale of capital assets 61,373 40,000 - - 61,373 40,000
<br /> Gain on sale of future revenue - 594,000 - - 594,000
<br /> Total revenues 7,563,865 10,427,324 3,480,093 3,229,947 11,043,958 13,657,271
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<br />Expenses:
<br /> General government 761,904 670,229 - - 761,904 670,229
<br /> Housing & economic development 282,710 226,265 - - 282,710 226,265
<br /> Public safety 2,585,476 2,654,736 - - 2,585,476 2,654,736
<br /> Public works 2,187,357 2,361,195 2,187,357 2,361,195
<br /> Sanitation and recycling 462,250 448,249 - - 462,250 448,249
<br /> Culture and recreation 717,520 624,376 - - 717,520 624,376
<br /> Interest on long-term debt 123,869 166,152 - - 123,869 166,152
<br /> Water - - 1,766,622 1,669,453 1,766,622 1,669,453
<br /> Sewer - - 1,514,193 1,503,306 1,514,193 1,503,306
<br /> Total expenses 7,121,086 7,151,202 3,280,815 3,172,759 10,401,901 10,323,961
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<br />Increase in net position 442,779 3,276,122 199,278 57,188 642,057 3,333,310
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<br />Transfers 244,438 103,470 (244,438) (103,470) - -
<br /> Total transfers 244,438 103,470 (244,438) (103,470) - -
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<br />Change in net position 687,217 3,379,592 (45,160) (46,282) 642,057 3,333,310
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<br />Net position - January 1 45,194,339 41,814,747 10,233,206 10,279,488 55,427,545 52,094,235
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<br />Net position - December 31 $45,881,556 $45,194,339 $10,188,046 $10,233,206 $56,069,602 $55,427,545
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<br />Net position increased by $687,217 or 1.52 % in governmental activities as a result of current year
<br />operations. Decreased expenses accounted for the change in net position.
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<br />Overall, revenues from governmental activities decreased 27.46% or $2,863,459. The large revenue
<br />decrease was due to one-time revenues received in 2020 for operating grants, capital grants, and sales of
<br />capital assets that did not reoccur in 2021.
<br />• In 2020, one-time revenues were received as follows:
<br />o CARES Act revenues in the amount of $782,784 were received to be used to offset the
<br />financial impacts of COVID-19.
<br />o $948,371 in Municipal State Aid (MSA) revenues were received to partially offset the
<br />construction of Greenbrier Street that was reconstructed in 2020.
<br />o A gain on the sale of two city cell towers was recognized in the amount of $594,000.
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