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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUNDS
<br />December 31, 2021
<br />With Comparative Data as of December 31, 2020
<br />Governmental
<br />Activities-
<br />Insurance
<br />Water Sewer Internal Service
<br />(601)(602)2021 2020 Fund (700)
<br />Assets:
<br />Current assets:
<br /> Cash and investments 947,190$ 1,137,570$ 2,084,760$ 1,924,220$ 43,712$
<br /> Accounts receivable:
<br /> Customers 398,235 460,002 858,237 835,612 -
<br /> Certified to County 23,844 22,710 46,554 55,114 -
<br /> Other 12,626 4,267 16,893 19,605 -
<br /> Prepaid items 180 77,812 77,992 78,818 5,934
<br />Total current assets 1,382,075 1,702,361 3,084,436 2,913,369 49,646
<br />Noncurrent assets:
<br /> Capital assets:
<br /> Permanent easements - 103,301 103,301 103,301 -
<br /> Equipment 518,493 666,592 1,185,085 1,161,878 -
<br /> Mains and systems 10,910,746 7,913,594 18,824,340 18,789,733 -
<br /> Total capital assets 11,429,239 8,683,487 20,112,726 20,054,912 -
<br /> Less: Accumulated depreciation (7,419,134) (5,054,799) (12,473,933) (12,061,405) -
<br />Net capital assets 4,010,105 3,628,688 7,638,793 7,993,507 -
<br />Total noncurrent assets 4,010,105 3,628,688 7,638,793 7,993,507 -
<br />Total assets 5,392,180 5,331,049 10,723,229 10,906,876 49,646
<br />Deferred outflows:
<br /> Deferred outflows related to pension 117,367 118,378 235,745 54,105 -
<br />Total deferred outflows 117,367 118,378 235,745 54,105 -
<br />Liabilities:
<br />Current liabilities:
<br /> Accounts payable 4,049 2,242 6,291 7,595 -
<br /> Due to other governmental units 74,207 45,662 119,869 199,509 -
<br /> Compensated absences payable 26,029 26,428 52,457 41,409 -
<br />Total current liabilities 104,285 74,332 178,617 248,513 -
<br />Noncurrent liabilities:
<br /> Compensated absences payable 14,697 15,115 29,812 37,704 -
<br /> Net pension liability 150,173 151,469 301,642 418,218 -
<br />Total noncurrent liabilities 164,870 166,584 331,454 455,922 -
<br />Total liabilities 269,155 240,916 510,071 704,435 -
<br />Deferred inflows:
<br /> Deferred inflows related to pension 142,302 143,529 285,831 35,174 -
<br />Total deferred inflows 142,302 143,529 285,831 35,174 -
<br />Net position:
<br /> Investment in capital assets 4,010,105 3,628,688 7,638,793 7,993,507 -
<br /> Unrestricted 1,087,985 1,436,294 2,524,279 2,227,865 49,646
<br />Total net position 5,098,090$ 5,064,982$ 10,163,072$ 10,221,372$ 49,646$
<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.24,974
<br />10,188,046$
<br />Total
<br />Business-Type Activities -Enterprise Funds
<br />44
<br />The accompanying notes are an integral part of these basic financial statements.
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