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<br />
<br />City of Little Canada, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2023
<br />
<br />Note 3: Detailed Notes on All Funds (Continued)
<br />
<br />H. Components of Fund Balance
<br />
<br />At December 31, 2023, portions of the City’s fund balance are not available for appropriation due to not being in spendable
<br />form (Nonspendable), legal restrictions (Restricted), City Council action (Committed), policy and/or intent (Assigned). The
<br />following is a summary of the components of fund balance:
<br />
<br />General Other
<br />Infrastructure Capital Governmental
<br />General CIP Improvements Funds Total
<br />Nonspendable for Prepaid Items
<br />Prepaid items 36,233$ -$ -$ 676,149$ 712,382$
<br />Interfund loan 440,452 - - - 440,452
<br />Total Nonspendable 476,685$ -$ -$ 676,149$ 1,152,834$
<br />Restricted for
<br />Debt service -$ -$ -$ 306,412$ 306,412$
<br />Public safety 471,123 - - - 471,123
<br />Tax increments - - - 1,486,914 1,486,914
<br />Fire equipment - - - 792,080 792,080
<br />Park acquistion - - - 1,872,844 1,872,844
<br />Charitable gambling - - - 59,030 59,030
<br />Total Restricted 471,123$ -$ -$ 4,517,280$ 4,988,403$
<br />Committed for
<br />Parks and recreation -$ -$ -$ 60,726$ 60,726$
<br />Cable - - - 502,632 502,632
<br />Economic development - - - 826,376 826,376
<br />Recycling - - - 142,119 142,119
<br />Total Committed -$ -$ -$ 1,531,853$ 1,531,853$
<br />Assigned to
<br />Capital projects -$ 1,676,522$ 2,883,337$ 3,646,158$ 8,206,017$
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