05-11-2022 Council Packet - Laserfiche WebLink

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CITY OF LITTLE CANADA, MINNESOTA Management’s Discussion and Analysis (continued) Year Ended December 31, 2021 o Other than the one-time revenues, 2021 revenues were largely unchanged from 2020 revenues due to the continuation of the pandemic. Governmental activities expenses decreased by .42% or $30,116. There was a large increase (24.95%) in housing and economic expenses due to the first-year repayment of development expenses that were incurred in a new TIF District in the City. This repayment of development expenses through a TIF Note was funded with Tax Increment revenues. General government expenses increased by 13.68% due to the one-time completion of a zoning code update, and reallocation of staff wages from the public works department to the general government depart to recognize the general government duties that were being performed. Public works decreased 7.36% due to the staff reallocation to general government, a public works staffing vacancy in order to complete a department reorganization plan, and decreased street reconstruction costs due to a smaller reconstruction area in 2021 when compared to 2020. Net position in the business-type activities decreased by $45,160. The decrease in net position was due to a low interest rate environment for investment earnings in 2021. Governmental Activities The following graph depicts the various governmental activities and shows the expenses and program revenues directly related to those activities: $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 General Government Housing and Economic Development Public Safety Public Works Sanitation and Recycling Culture and Recreation Interest and Fiscal Charges Expense Revenue 23