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Governmental Activities. Governmental activities increased the City’s net position. Key elements of this increase are as
<br />follows:
<br />City of Little Canada’s Changes in Net Position
<br />Increase Increase
<br />2023 2022 (Decrease)2023 2022 (Decrease)
<br />Revenues
<br />Program revenues
<br />Charges for services 2,205,697$ 1,948,523$ 257,174$ 3,956,779$ 3,611,932$ 344,847$
<br />Operating grants and contributions 1,789,770 698,238 1,091,532 - - -
<br />Capital grants and contributions 2,641,817 1,225,082 1,416,735 159,690 369,202 (209,512)
<br />General Revenues
<br />Taxes
<br />Property taxes 4,254,060 3,997,591 256,469 - - -
<br />Tax increments 789,954 466,344 323,610 - - -
<br />Franchise fees 461,439 - 461,439 - - -
<br />Grants and contributions not
<br />restricted to specific programs 862,697 1,070,717 (208,020) - - -
<br />Unrestricted investment earnings (loss)680,695 (301,608) 982,303 95,700 1,557 94,143
<br />Other general revenues 89,402 576,214 (486,812) - 4,044 (4,044)
<br />Gain (loss) on sale of capital assets 9,600 51,951 (42,351) - --
<br />Total Revenues 13,785,131 9,733,052 4,052,079 4,212,169 3,986,735 225,434
<br />Expenses
<br />General government 1,402,053 897,492 504,561 - - -
<br />Public safety 2,300,843 2,658,787 (357,944) - - -
<br />Public works 2,486,832 2,431,627 55,205 - - -
<br />Culture and recreation 1,172,521 922,706 249,815 - - -
<br />Sanitation 528,075 476,404 51,671 - - -
<br />Housing and economic development 1,119,251 274,253 844,998 - - -
<br />Interest on debt 133,301 108,818 24,483 - - -
<br />Water - - - 2,215,946 1,968,973 246,973
<br />Sewer - - - 1,850,476 1,616,403 234,073
<br />Total Expenses 9,142,876 7,770,087 1,372,789 4,066,422 3,585,376 481,046
<br />Change in Net Position
<br />Before Transfers 4,642,255 1,962,965 2,679,290 145,747 401,359 (255,612)
<br />Transfers 433,200 375,000 58,200 (433,200) (375,000) (58,200)
<br />Change in Net Position 5,075,455 2,337,965 2,737,490 (287,453) 26,359 (313,812)
<br />Net Position, January 1 48,219,521 45,881,556 2,337,965 10,214,405 10,188,046 26,359
<br />Net Position, December 31 53,294,976$ 48,219,521$ 5,075,455$ 9,926,952$ 10,214,405$ (287,453)$
<br />Business-type ActivitiesGovernmental Activities
<br />•Operating grants and contributions increased in governmental activities due to one-time public safety aid in the
<br />amount of $471,123.
<br />•Capital Grants and contributions increased due to the receipt of CDBG funds in the amount of $506,086.
<br />•Unrestricted investments earnings increased due to increased interest rates and positive market performance.
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