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CITY OF LITTLE CANADA, MINNESOTA
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2021
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<br />NOTE 3 RECEIVABLES
<br />Significant receivable balances not expected to be collected within one year of December 31, 2021 are
<br />as follows:
<br />
<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 $34,300 $ - $ 496,985 $ - $ 531,285
<br />Canabury Square Condominium HIA - 584,458 - - 584,458
<br />Infrastructure CIP 1,300 1,072,221 - 407,639 1,481,160
<br />Water/Sewer Equipment Replacement - 53,387 257,312 - 310,699
<br />Nonmajor Funds 1,700 43,350 8,049 - 53,099
<br />Total $37,300 $1,753,416 $762,346 $407,639 $2,960,701
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<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 />
<br />Fund
<br />Property
<br />Taxes
<br />Special
<br />Assessments Other Total
<br />General Fund $55,150 $ - $ - $55,150
<br />Canabury Square Condominium HIA - 648,938 - 648,938
<br />General Capital Improvements - - 533,106 533,106
<br />Infrastructure CIP 1,373 1,184,436 94,654 1,280,463
<br />Water/Sewer Equipment Replacement - 53,387 - 53,387
<br />Nonmajor Funds 1,848 53,508 - 55,356
<br />Total $58,371 $1,940,269 $627,760 $2,626,400
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