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City of Little Canada, Minnesota
<br />Notes to the Financial Statements
<br />December 31, 2024
<br />Note 3: Detailed Notes on All Funds (Continued)
<br />Restated
<br />Beginning Ending
<br />Balance Increases Decreases Balance
<br />Business-type Activities
<br />Capital Assets not Being Depreciated
<br />Permanent easements 103,301$ -$ -$ 103,301$
<br />Capital Assets Being Depreciated
<br />Machinery and equipment 1,294,079 71,961 - 1,366,040
<br />Distribution and collection system 19,244,238 711,422 - 19,955,660
<br />Total Capital Assets
<br />Being Depreciated 20,538,317 783,383 - 21,321,700
<br />Less Accumulated Depreciation for
<br />Machinery and equipment (663,128) (61,070) - (724,198)
<br />Distribution and collection system (12,627,102) (346,854) - (12,973,956)
<br />Total Accumulated
<br />Depreciation (13,290,230) (407,924) - (13,698,154)
<br />Total Capital Assets Being
<br />Depreciated, Net 7,248,087 375,459 - 7,623,546
<br />Business-type Activities
<br />Capital Assets, Net 7,351,388$ 375,459$ -$ 7,726,847$
<br />Depreciation expense was charged to functions/programs of the business-type activities as follows:
<br />Business-type Activities
<br />Water and sewer 243,541$
<br />Storm Water 164,383
<br />Total Depreciation Expense - Business-type Activities 407,924$
<br />D.Interfund Receivables, Payables and Transfers
<br />Due to/from funds represent reclassifications of temporary cash deficits in individual fund and other short-term loans
<br />expected to be repaid within one year. The amount owing between funds represents reclassification of temporary cash
<br />deficits between. At year end, the balances were as follows:
<br />Amount
<br />Primary Government
<br />General Nonmajor governmental 285,914
<br />Water and Sewer Equipment Replacement Nonmajor governmental 22,979
<br />Total 308,893$
<br />Payable FundReceivable Fund
<br />77
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