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City of Little Canada, Minnesota
<br />Statement of Net Position
<br />December 31, 2023
<br />Governmental Business-type
<br />Activities Activities Total
<br />Assets
<br />Cash and investments 16,443,353$ 1,932,519$ 18,375,872$
<br />Receivables
<br />Accounts 795,874 995,951 1,791,825
<br />Accrued interest 60,689 - 60,689
<br />Taxes 108,135 - 108,135
<br />Leases - 1,514,626 1,514,626
<br />Special assessments 2,053,333 - 2,053,333
<br />Notes 1,000,000 - 1,000,000
<br />Due from other governments 778,110 64,559 842,669
<br />Internal balances (17,491) 17,491 -
<br />Prepaid items 720,986 133,504 854,490
<br />Assets held for resale 556,757 - 556,757
<br />Capital assets
<br />Land and construction in progress 7,352,129 103,301 7,455,430
<br />Depreciable assets (net of accumulated depreciation)27,507,691 7,248,087 34,755,778
<br />Total Assets 57,359,566 12,010,038 69,369,604
<br />Deferred Outflows of Resources
<br />Deferred pension resources 195,057 116,105 311,162
<br />Liabilities
<br />Accounts and contracts payable 392,025 13,210 405,235
<br />Accrued salaries and withholdings payable 23,159 - 23,159
<br />Accrued interest payable 32,146 - 32,146
<br />Due to other governments 202,425 145,642 348,067
<br />Deposits payable 64,603 - 64,603
<br />Unearned revenue 4,387 - 4,387
<br />Noncurrent liabilities
<br />Due within one year
<br />Long-term liabilities 383,726 44,762 428,488
<br />Due in more than one year
<br />Long-term liabilities 2,258,449 51,412 2,309,861
<br />Net pension liability 687,052 408,958 1,096,010
<br />Total Liabilities 4,047,972 663,984 4,711,956
<br />Deferred Inflows of Resources
<br />Deferred pension resources 211,675 125,158 336,833
<br />Deferred lease resources - 1,410,049 1,410,049
<br />Total Deferred Inflows of Resources 211,675 1,535,207 1,746,882
<br />Net Position
<br />Net investment in capital assets 32,323,579 7,351,388 39,674,967
<br />Restricted for
<br />Debt service 583,184 - 583,184
<br />Economic development 1,518,350 - 1,518,350
<br />Fire equipment 792,080 - 792,080
<br />Park acquistion 1,872,844 - 1,872,844
<br />Charitable gambling 59,030 - 59,030
<br />Public safety 471,123 - 471,123
<br />Unrestricted 15,674,786 2,575,564 18,250,350
<br />Total Net Position 53,294,976$ 9,926,952$ 63,221,928$
<br />The notes to the financial statements are an integral part of this statement.
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