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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 />Changes in Long-term Liabilities <br />During the year ended December 31, 2024, the following changes occurred in non-current liabilities reported on the <br />government-wide statements. <br />Beginning Ending Due Within <br />Balance Increases Decreases Balance One Year <br />Governmental Activities <br />Bonds Payable <br />General obligation bonds 2,520,000$ -$ (305,000)$ 2,215,000$ 310,000$ <br />Unamortized discount and premium 5,506 - (3,448) 2,058 - <br />Total Bonds Payable - Net 2,525,506 - (308,448) 2,217,058 310,000 <br />Notes from Direct Borrowings 10,735 - (7,505) 3,230 3,230 <br />Compensated Absences Payable*105,934 1,966 - 107,900 66,664 <br />Governmental Activity <br />Long-term Liabilities 2,642,175$ 1,966$ (315,953)$ 2,328,188$ 379,894$ <br />Business-type Activities <br />Compensated Absences Payable*96,174$ 7,641$ -$ 103,815$ 46,831$ <br />*Compensated absences payable shown net of increases and decreases. <br />80