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<br />
<br />City of Little Canada’s Summary of Net Position
<br />
<br />Increase Increase
<br />2024 2023 (Decrease)2024 2023 (Decrease)
<br />Assets
<br />Current and other assets 21,683,596$ 22,499,746$ (816,150)$ 4,682,051$ 4,658,650$ 23,401$
<br />Capital assets, net of depreciation 39,066,971 34,859,820 4,207,151 7,726,847 7,351,388 375,459
<br />Total Assets 60,750,567 57,359,566 3,391,001 12,408,898 12,010,038 398,860
<br />Deferred Outflows of Resources 176,413 195,057 (18,644) 26,840 116,105 (89,265)
<br />Liabilities
<br />Noncurrent liabilities outstanding 2,988,288 3,329,227 (340,939) 223,652 505,132 (281,480)
<br />Other liabilities 1,236,816 718,745 518,071 195,943 158,852 37,091
<br />Total Liabilities 4,225,104 4,047,972 177,132 419,595 663,984 (244,389)
<br />Deferred Inflows of Resources 361,532 211,675 149,857 1,458,690 1,535,207 (76,517)
<br />Net Position
<br />Net investment in capital assets 36,623,702 32,323,579 4,300,123 7,726,847 7,351,388 375,459
<br />Restricted for
<br />Debt service 632,265 583,184 49,081 - - -
<br />Local housing 75,020 - 75,020 - - -
<br />Tax increments 1,433,964 1,518,350 (84,386) - - -
<br />Park acquistion 1,383,705 1,872,844 (489,139) - - -
<br />Charitable gambling 104,106 59,030 45,076 - - -
<br />Public safety 21,123 471,123 (450,000) - - -
<br />Unrestricted 16,066,459 16,466,866 (400,407) 2,830,606 2,575,564 255,042
<br />Total Net Position 56,340,344$ 53,294,976$ 3,045,368$ 10,557,453$ 9,926,952$ 630,501$
<br />Net Position as a Percent of Total
<br />Net investment in capital assets 65.0 %60.6 %73.2 %74.1 %
<br />Restricted 6.5 8.5 - -
<br />Unrestricted 28.5 30.9 26.8 25.9
<br />100.0 %100.0 %100.0 %100.0 %
<br />Governmental Activities Business-type Activities
<br /> An additional portion of the City’s net position represents resources that are subject to external restrictions on how they
<br />may be used. The remaining balance of unrestricted net position may be used to meet the City’s ongoing obligations to
<br />citizens and creditors.
<br />
<br />At the end of the current fiscal year, the City is able to report positive balances in all three categories of net position, both
<br />for the City as a whole, as well as for its separate governmental and business-type activities. The same situation held true
<br />for the prior fiscal year.
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