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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 />Changes in Long-term Liabilities <br />During the year ended December 31, 2023, the following changes occurred in non-current liabilities reported on the <br />government-wide statements. <br />Beginning Ending Due Within <br />Balance Increases Decreases Balance One Year <br />Governmental Activities <br />Bonds Payable <br />General obligation bonds 2,815,000$ -$ (295,000)$ 2,520,000$ 305,000$ <br />Unamortized discount and premium 15,864 - (10,358) 5,506 - <br />Total Bonds Payable - Net 2,830,864 - (305,358) 2,525,506 305,000 <br />Notes from Direct Borrowings 18,093 - (7,358) 10,735 7,505 <br />Compensated Absences Payable 122,337 87,249 (103,652) 105,934 71,221 <br />Governmental Activity <br />Long-term Liabilities 2,971,294$ 87,249$ (416,368)$ 2,642,175$ 383,726$ <br />Business-type Activities <br />Compensated Absences Payable 84,580$ 71,600$ (60,006)$ 96,174$ 44,762$ <br />76