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<br />
<br />City of Little Canada’s Summary of Net Position
<br />
<br />Increase Increase
<br />2023 2022 (Decrease)2023 2022 (Decrease)
<br />Assets
<br />Current and other assets 22,499,746$ 22,106,400$ 393,346$ 4,658,650$ 4,717,417$ (58,767)$
<br />Capital assets, net of depreciation 34,859,820 31,006,058 3,853,762 7,351,388 7,596,291 (244,903)
<br />Total Assets 57,359,566 53,112,458 4,247,108 12,010,038 12,313,708 (303,670)
<br />Deferred Outflows of Resources 195,057 316,342 (121,285) 116,105 189,160 (73,055)
<br />Liabilities
<br />Noncurrent liabilities outstanding 3,329,227 3,893,176 (563,949) 505,132 635,825 (130,693)
<br />Other liabilities 718,745 1,302,506 (583,761) 158,852 142,189 16,663
<br />Total Liabilities 4,047,972 5,195,682 (1,147,710) 663,984 778,014 (114,030)
<br />Deferred Inflows of Resources 211,675 13,597 198,078 1,535,207 1,510,449 24,758
<br />Net Position
<br />Net investment in capital assets 32,323,579 27,802,478 4,521,101 7,351,388 7,596,291 (244,903)
<br />Restricted for
<br />Debt service 583,184 535,035 48,149 - - -
<br />Tax increments 1,518,350 1,297,781 220,569 - - -
<br />Fire equipment 792,080 496,573 295,507 - - -
<br />Park acquistion 1,872,844 970,931 901,913 - - -
<br />Capital projects - 1,669,994 (1,669,994) - - -
<br />Charitable gambling 59,030 163,059 (104,029) - - -
<br />Public safety 471,123 - 471,123 - - -
<br />Unrestricted 15,674,786 15,283,670 391,116 2,575,564 2,618,114 (42,550)
<br />Total Net Position 53,294,976$ 48,219,521$ 5,075,455$ 9,926,952$ 10,214,405$ (287,453)$
<br />Net Position as a Percent of Total
<br />Net investment in capital assets 60.7 %57.7 %74.1 %74.4 %
<br />Restricted 9.9 10.6 - -
<br />Unrestricted 29.4 31.7 25.9 25.6
<br />100.0 %100.0 %100.0 %100.0 %
<br />Governmental Activities Business-type Activities
<br /> An additional portion of the City’s net position represents resources that are subject to external restrictions on how they
<br />may be used. The remaining balance of unrestricted net position may be used to meet the City’s ongoing obligations to
<br />citizens and creditors.
<br />
<br />At the end of the current fiscal year, the City is able to report positive balances in all three categories of net position, both
<br />for the City as a whole, as well as for its separate governmental and business-type activities. The same situation held true
<br />for the prior fiscal year.
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