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<br />
<br />Governmental Activities. Governmental activities increased the City’s net position. Key elements of this increase are as
<br />follows:
<br />
<br />City of Little Canada’s Changes in Net Position
<br />
<br />Increase Increase
<br />2024 2023 (Decrease)2024 2023 (Decrease)
<br />Revenues
<br />Program revenues
<br />Charges for services 2,504,966$ 2,205,697$ 299,269$ 4,562,569$ 3,956,779$ 605,790$
<br />Operating grants and contributions 2,243,683 1,789,770 453,913 - - -
<br />Capital grants and contributions 861,282 2,641,817 (1,780,535) - - -
<br />General Revenues
<br />Taxes
<br />Property taxes 4,424,846 4,254,060 170,786 - - -
<br />Tax increments 881,596 789,954 91,642 - - -
<br />Franchise fees 659,728 461,439 198,289 - - -
<br />Grants and contributions not
<br />restricted to specific programs 432,704 862,697 (429,993) - - -
<br />Unrestricted investment earnings (loss)802,668 680,695 121,973 106,047 95,700 10,347
<br />Other general revenues 104,846 89,402 15,444 - - -
<br />Gain on sale of capital assets - 9,600 (9,600) - - -
<br />Total Revenues 12,916,319 13,785,131 (868,812) 4,668,616 4,052,479 616,137
<br />Expenses
<br />General government 590,761 1,402,053 (811,292) - - -
<br />Public safety 3,134,255 2,300,843 833,412 - - -
<br />Public works 2,133,660 2,327,142 (193,482) - - -
<br />Culture and recreation 1,022,951 1,172,521 (149,570) - - -
<br />Sanitation 578,212 528,075 50,137 - - -
<br />Housing and economic development 2,104,035 1,119,251 984,784 - - -
<br />Interest on debt 133,824 133,301 523 - - -
<br />Water - - - 2,076,629 2,215,946 (139,317)
<br />Sewer - - - 1,855,973 1,850,476 5,497
<br />Storm water - - - 278,766 - 278,766
<br />Total Expenses 9,697,698 8,983,186 714,512 4,211,368 4,066,422 144,946
<br />Change in Net Position
<br />Before Transfers 3,218,621 4,801,945 (1,583,324) 457,248 (13,943) 471,191
<br />Transfers - internal activities 344,200 433,200 (89,000) (344,200) (433,200) 89,000
<br />Transfers - capital assets (517,453) (159,690) (357,763) 517,453 159,690 357,763
<br />Change in Net Position 3,045,368 5,075,455 (2,030,087) 630,501 (287,453) 917,954
<br />Net Position, January 1 53,294,976 48,219,521 5,075,455 9,926,952 10,214,405 (287,453)
<br />Net Position, December 31 56,340,344$ 53,294,976$ 3,045,368$ 10,557,453$ 9,926,952$ 630,501$
<br />Business-type ActivitiesGovernmental Activities
<br /> Increased revenues that accounted for the changes in net positions are as follows:
<br />
<br />• Increase in charges for services of $299,269 (permits revenue for the Pioneer Commons development) and
<br />operating grants and contributions $453,913, which included $270,000 from the DNR for the Pioneer Park
<br />improvement and an increase in Local Governmental AID (LGA) in current year of $189,368 when compared with
<br />prior year LGA.
<br />
<br />• Unrestricted investments earnings increased by $121,973 due to increased interest rates and positive market
<br />performance.
<br />
<br />• Francise Fees increased by $198,289 due to adding a gas franchise Fee and a 50% increase in electric franchise
<br />fee. These changes were captured beginning with Q2, Q3 and Q4 of 2024.
<br />
<br />Governmental activities expenses increased by $714,512 or 7.9% compared with prior year. The increase is primarily due
<br />to increase cost of $833,412 for public safety services. $450,000 of this increase relates to a transfer form the General
<br />fund to the Capital Equipment Fund to pay for the remaining payment of the Ladder Truck that was due in 2024. The
<br />second largest expense related to the Ramsey County Contract increase for police services, the 2024 increase was
<br />approximately $150,000.
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