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City of Little Canada, Minnesota
<br />Statement of Net Position
<br />December 31, 2024
<br />Governmental Business-type
<br />Activities Activities Total
<br />Assets
<br />Cash and investments 16,998,561$ 1,793,383$ 18,791,944$
<br />Receivables
<br />Accounts 824,008 1,180,541 2,004,549
<br />Accrued interest 91,992 - 91,992
<br />Taxes 136,823 - 136,823
<br />Leases - 1,467,073 1,467,073
<br />Special assessments 1,877,612 - 1,877,612
<br />Notes 1,000,000 - 1,000,000
<br />Due from other governments 183,949 71,848 255,797
<br />Internal balances (28,187) 28,187 -
<br />Prepaid items 34,581 141,019 175,600
<br />Assets held for resale 564,257 - 564,257
<br />Capital assets
<br />Land and construction in progress 6,792,018 103,301 6,895,319
<br />Depreciable assets (net of accumulated depreciation)32,274,953 7,623,546 39,898,499
<br />Total Assets 60,750,567 12,408,898 73,159,465
<br />Deferred Outflows of Resources
<br />Deferred pension resources 176,413 26,840 203,253
<br />Liabilities
<br />Accounts and contracts payable 643,616 12,386 656,002
<br />Accrued salaries and withholdings payable 46,556 - 46,556
<br />Accrued interest payable 29,296 - 29,296
<br />Due to other governments 435,591 178,518 614,109
<br />Deposits payable 77,245 - 77,245
<br />Unearned revenue 4,512 5,039 9,551
<br />Noncurrent liabilities
<br />Due within one year
<br />Long-term liabilities 379,894 46,831 426,725
<br />Due in more than one year
<br />Long-term liabilities 1,948,294 56,984 2,005,278
<br />Net pension liability 660,100 119,837 779,937
<br />Total Liabilities 4,225,104 419,595 4,644,699
<br />Deferred Inflows of Resources
<br />Deferred pension resources 361,532 140,909 502,441
<br />Deferred lease resources - 1,317,781 1,317,781
<br />Total Deferred Inflows of Resources 361,532 1,458,690 1,820,222
<br />Net Position
<br />Net investment in capital assets 36,623,702 7,726,847 44,350,549
<br />Restricted for
<br />Debt service 632,265 - 632,265
<br />Local housing 75,020 - 75,020
<br />Economic development 1,433,964 - 1,433,964
<br />Park acquistion 1,383,705 - 1,383,705
<br />Charitable gambling 104,106 - 104,106
<br />Public safety 21,123 - 21,123
<br />Unrestricted 16,066,459 2,830,606 18,897,065
<br />Total Net Position 56,340,344$ 10,557,453$ 66,897,797$
<br />The notes to the financial statements are an integral part of this statement.
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