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City of Little Canada, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2023
<br />Note 3: Detailed Notes on All Funds (Continued)
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Business-type Activities
<br />Capital Assets not Being Depreciated
<br />Permanent easements 103,301$ -$ -$ 103,301$
<br />Construction in progress 4,673 - (4,673) -
<br />Total Capital Assets
<br />not Being Depreciated 107,974 - (4,673) 103,301
<br />Capital Assets Being Depreciated
<br />Machinery and equipment 1,255,442 38,637 - 1,294,079
<br />Distribution and collection system 19,118,512 125,726 - 19,244,238
<br />Total Capital Assets
<br />Being Depreciated 20,373,954 164,363 - 20,538,317
<br />Less Accumulated Depreciation for
<br />Machinery and equipment (604,976) (58,152) - (663,128)
<br />Distribution and collection system (12,280,661) (346,441) - (12,627,102)
<br />Total Accumulated
<br />Depreciation (12,885,637) (404,593) - (13,290,230)
<br />Total Capital Assets Being
<br />Depreciated, Net 7,488,317 (240,230) - 7,248,087
<br />Business-type Activities
<br />Capital Assets, Net 7,596,291$ (240,230)$ (4,673)$ 7,351,388$
<br />Depreciation expense was charged to functions/programs of the business-type activities as follows:
<br />Business-type Activities
<br />Water and sewer 241,270$
<br />Storm Water 163,323
<br />Total Depreciation Expense - Business-type Activities 404,593$
<br />D.Interfund Receivables, Payables and Transfers
<br />Due to/from funds represent reclassifications of temporary cash deficits in individual fund and other short-term loans
<br />expected to be repaid within one year. The amount owing between funds represents reclassification of temporary cash
<br />deficits between. At year end, the balances were as follows:
<br />Amount
<br />Primary Government
<br />General Nonmajor governmental 274,510$
<br />General Nonmajor governmental 155,529
<br />General Nonmajor governmental 10,413
<br />Water and Sewer Equipment Replacement Nonmajor governmental 19,695
<br />Total 460,147$
<br />Payable FundReceivable Fund
<br />73
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