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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUNDS
<br />DECEMBER 31, 2022
<br />
<br />
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(31)
<br />
<br />Governmental
<br /> Activities-
<br />Insurance
<br />Water Sewer 2022 Internal Service
<br />(601)(602/603)Totals Fund (700)
<br />ASSETS AND DEFERRED OUTFLOWS
<br />OF RESOURCES
<br />CURRENT ASSETS
<br />Cash and Cash Equivalents 946,166$ 1,139,133$ 2,085,299$ 34,645$
<br />Receivables:
<br />General Customers 397,229 480,477 877,706 -
<br />Other 12,939 - 12,939 -
<br />Leases 1,557,028 - 1,557,028 -
<br />Due from Other Governmental Units:
<br />Certified to County 25,962 22,169 48,131 -
<br />Prepaids 11,953 101,853 113,806 10,641
<br />Total Current Assets 2,951,277 1,743,632 4,694,909 45,286
<br />CAPITAL ASSETS
<br />Permanent Easements - 103,301 103,301 -
<br />Construction 4,672 - 4,672 -
<br />Equipment 564,439 691,003 1,255,442 -
<br />Mains and Systems 10,916,899 8,201,614 19,118,513 -
<br />Total 11,486,010 8,995,918 20,481,928 -
<br />Less: Accumulated Depreciation (7,672,097) (5,213,540) (12,885,637) -
<br />Net Capital Assets 3,813,913 3,782,378 7,596,291 -
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred Outflows - Pensions 94,016 95,144 189,160 -
<br />Total Assets and Deferred Outflows of Resources 6,859,206$ 5,621,154$ 12,480,360$ 45,286$
<br />LIABILITIES, DEFERRED INFLOWS
<br />OF RESOURCES, AND NET POSITION
<br />CURRENT LIABILITIES
<br />Accounts Payable 9,915$ 52,454$ 62,369$ 485$
<br />Due to Other Governmental Units 79,820 - 79,820 -
<br />Compensated Absences Payable 17,326 17,754 35,080 -
<br />Total Current Liabilities 107,061 70,208 177,269 485
<br />NONCURRENT LIABILITIES
<br />Compensated Absences Payable 24,495 25,005 49,500 -
<br />Net Pension Liability 273,980 277,265 551,245 -
<br />Total Noncurrent Liabilities 298,475 302,270 600,745 -
<br />Total Liabilities 405,536 372,478 778,014 485
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred Inflows - Pensions 4,041 4,090 8,131 -
<br />Deferred Inflows - Leases 1,502,318 - 1,502,318 -
<br />Total Deferred Inflows 1,506,359 4,090 1,510,449 -
<br />NET POSITION
<br />Net Investment in Capital Assets 3,813,913 3,782,378 7,596,291 -
<br />Unrestricted 1,133,398 1,462,208 2,595,606 44,801
<br />Total Net Position 4,947,311 5,244,586 10,191,897 44,801
<br />Total Liabilities, Deferred Inflows of
<br /> Resources, and Net Position 6,859,206$ 5,621,154$ 12,480,360$ 45,286$
<br />Adjutsment to reflect the consolidation of internal
<br />services fund activities to related enterprise funds 22,508
<br />Total net position of business-type activities 10,214,405
<br />Business-Type Activities
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