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CITY OF LITTLE CANADA, MINNESOTA
<br />CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
<br />Last Ten Fiscal Years
<br />(modified accrual basis of accounting)
<br />2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
<br />Revenues
<br />Property taxes 2,846,061$ 2,904,266$ 3,009,596$ 3,030,586$ 3,294,816$ 3,398,344$ 3,519,584$ 3,594,163$ 3,763,796$ 4,255,610$
<br />Franchise taxes 125,594 127,865 133,804 135,557 480,454 477,274 477,184 483,758 469,042 461,439
<br />Tax increment collections 1,016,898 913,126 1,217,988 932,165 467,862 538,791 570,105 709,350 727,497 789,954
<br />Special assessments 1,380,810 1,092,822 1,302,179 1,022,706 985,904 680,632 974,538 708,476 803,397 666,305
<br />Licenses and permits 562,968 716,247 904,927 643,841 300,059 497,295 221,328 195,101 562,379 643,654
<br />Intergovernmental 537,770 580,382 2,289,007 591,857 644,422 729,203 4,015,015 1,103,216 1,522,656 4,399,630
<br />Charges for services 467,915 509,380 519,062 474,145 487,175 555,480 552,607 627,845 613,645 1,335,035
<br />Fines and forfeits 46,571 40,325 42,311 44,707 48,569 49,408 24,151 40,440 45,911 28,364
<br />Investment earnings (loss)490,497 302,870 286,814 316,795 299,521 530,625 442,497 6,649 (301,608) 680,695
<br />Connection charges - - - - - 51,120 260 1,200 - - (1)
<br />Contributions & donations 102,235 136,826 294,559 102,107 140,461 239,716 197,168 254,825 466,810 250,529
<br />Miscellaneous 193,005 810,513 1,180,067 2,824,153 293,261 755,184 1,200,313 103,044 564,019 294,340
<br />Total revenues 7,770,324 8,134,622 11,180,314 10,118,619 7,442,504 8,503,072 12,194,750 7,828,067 9,237,544 13,805,555
<br />Expenditures
<br />Current:
<br />General government 610,946 532,783 725,713 964,130 1,414,365 515,613 575,115 657,298 688,102 859,469
<br />Housing & economic development - - - - - 690,771 226,265 282,710 271,771 1,119,251
<br />Public safety 1,914,846 1,976,340 2,029,462 2,185,949 2,311,243 2,492,581 2,557,076 2,463,411 2,527,832 2,713,759
<br />Public works 348,496 465,709 424,927 533,914 460,543 484,906 514,870 463,823 567,401 615,360
<br />Sanitation and recycling - - - - - 413,046 448,249 462,250 476,404 528,075
<br />Culture and recreation 908,230 919,326 925,496 899,477 1,515,483 572,853 554,358 612,420 696,872 778,859
<br />Capital outlay 4,773,436 3,944,063 6,469,797 3,186,475 1,579,493 1,943,411 5,283,521 1,758,160 3,361,857 6,236,757
<br />Debt Service:
<br />Principal retirement 525,100 690,792 876,470 622,069 1,863,094 1,268,077 301,859 299,237 308,549 302,358
<br />Interest 369,763 475,330 428,465 362,261 318,745 244,372 176,764 134,339 103,929 83,072
<br />Fiscal charges 22,020 21,615 625 447 1,290 950 950 950 950 -
<br />Miscellaneous 72,776 45,280 - - 477 8,327 1,068 1,038 995 -
<br />Total expenditures 9,545,613 9,071,238 11,880,955 8,754,722 9,464,733 8,634,907 10,640,095 7,135,636 9,004,662 13,236,960
<br />Revenues over (under) expenditures (1,775,289) (936,616) (700,641) 1,363,897 (2,022,229) (131,835) 1,554,655 692,431 232,882 568,595
<br />Other Financing Sources (Uses)
<br />Transfers in 1,025,322 1,956,117 1,801,318 1,713,060 1,185,418 1,916,745 1,200,585 1,699,798 2,623,682 1,183,750
<br />Transfers out (725,322) (1,656,117) (1,501,318) (1,413,060) (885,418) (1,616,745) (900,585) (1,399,798) (2,248,682) (750,550)
<br />Bonds issued 3,400,000 1,335,000 - - - - - - - -
<br />Premium on debt issued 82,931 21,847 - - - - - - - -
<br />Payment to refunded bond escrow - - (1,400,000) - - - - - - -
<br />Proceeds from sale of capital assets 1,000 5,000 508,556 74,101 85,000 34,500 40,000 159,775 498,543 72,500
<br />Total other financing sources (uses)3,783,931 1,661,847 (591,444) 374,101 385,000 334,500 340,000 459,775 873,543 505,700
<br />Net change in fund balances 2,008,642$ 725,231$ (1,292,085)$ 1,737,998$ (1,637,229)$ 202,665$ 1,894,655$ 1,152,206$ 1,106,425$ 1,074,295$
<br />Debt service as a percentage of
<br />noncapital expenditures 15.6%21.9%23.3%16.3%26.5%20.3%6.8%7.9%6.9%5.2%
<br />Note: (1) Connection charges in charges for services prior to 2019
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