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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 />For the Year Ended December 31, 2021
<br />With Comparative Data for the Year Ended December 31, 2020
<br />Governmental
<br />Activities-
<br />Insurance
<br />Water Sewer Internal Service
<br />(601)(602)2021 2020 Fund (700)
<br />Operating revenues:
<br /> Charges for services - user fees 1,796,784$ 1,593,888$ 3,390,672$ 3,084,546$ 280,150$
<br /> Water meter sales 2,105 - 2,105 3,714 -
<br /> Other 288 2,258 2,546 2,573 -
<br />Total operating revenues 1,799,177 1,596,146 3,395,323 3,090,833 280,150
<br />Operating expenses:
<br />Personal services 317,416 320,074 637,490 665,587 143,416
<br />MCES - sewer service charge - 943,626 943,626 893,678 -
<br />Purchased water 1,074,782 - 1,074,782 969,876 -
<br />Supplies, services, and other charges 122,868 102,661 225,529 236,825 -
<br />Insurance and claims - - - - 110,448
<br /> Depreciation 258,093 154,435 412,528 413,735 -
<br />Total operating expenses 1,773,159 1,520,796 3,293,955 3,179,701 253,864
<br />Operating income (loss)26,018 75,350 101,368 (88,868) 26,286
<br />Nonoperating revenues (expenses):
<br />Investment earnings (1,950) (2,470) (4,420) 50,258 (52)
<br />Rental of City Property 85,181 - 85,181 81,905 -
<br />Loss on disposal of capital asset - - - (4,892) -
<br />Miscellaneous revenue 1,570 2,439 4,009 6,951 -
<br />Total nonoperating revenues (expenses)84,801 (31) 84,770 134,222 (52)
<br />Income (loss) before
<br /> contributions and transfers 110,819 75,319 186,138 45,354 26,234
<br />Capital contributions - 55,562 55,562 196,530 -
<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 (89,181) 30,881 (58,300) (58,116) 26,234
<br />Net position - January 1 5,187,271 5,034,101 10,221,372 10,279,488 23,412
<br />Net position - December 31 5,098,090$ 5,064,982$ 10,163,072$ 10,221,372$ 49,646$
<br />Change in net position reported above (58,300)
<br />Adjustment to reflect the consolidation of internal service fund activities
<br />related to enterprise funds 13,140
<br />Change in net position of business-type activities (45,160)$
<br />Total
<br />Business-Type Activities -Enterprise Funds
<br />45
<br />The accompanying notes are an integral part of these basic financial statements.
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