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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 />H.Components of Fund Balance
<br />At December 31, 2024, portions of the City’s fund balance are not available for appropriation due to not being in spendable
<br />form (Nonspendable), legal restrictions (Restricted), City Council action (Committed), policy and/or intent (Assigned). The
<br />following is a summary of the components of fund balance:
<br />General Other
<br />Infrastructure Capital Economic Fire Equipment Governmental
<br />General CIP Improvements Development Replacement Funds Total
<br />Nonspendable for Prepaid Items
<br />Prepaid items 24,046$ -$ -$ -$ -$ -$ 24,046$
<br />Interfund loan 285,914 - - - - - 285,914
<br />Total Nonspendable 309,960$ -$ -$ -$ -$ -$ 309,960$
<br />Restricted for
<br />Debt service -$ -$ -$ -$ -$ 451,802$ 451,802$
<br />Local housing - - - - - 75,020 75,020
<br />Public safety 21,123 - - - - - 21,123
<br />Tax increments - - - - - 1,400,092 1,400,092
<br />Fire equipment - - - - - --
<br />Park acquistion - - - - - 1,383,705 1,383,705
<br />Charitable gambling - - - - - 104,106 104,106
<br />Total Restricted 21,123$ -$ -$ -$ -$ 3,414,725$ 3,435,848$
<br />Committed for
<br />Parks and recreation -$ -$ -$ -$ -$ 78,143$ 78,143$
<br />Cable - - - - - 499,681 499,681
<br />Economic development - - - 226,455 - -226,455
<br />Recycling - - - - - 121,752 121,752
<br />Total Committed -$ -$ -$ 226,455$ -$ 699,576$ 926,031$
<br />Assigned to
<br />Capital projects -$ 2,234,266$ 2,650,075$ -$ -$ 2,919,629$ 7,803,970$
<br />Fire equipment - -- - 1,503,146 - 1,503,146
<br />Total Assigned -$ 2,234,266$ 2,650,075$ -$ 1,503,146$ 2,919,629$ 9,307,116$
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