2019 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

Table 11

DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT December 31, 2019

Percentage Applicable To City of Shakopee (1)

Amount

Applicable To City of Shakopee

G.O. Debt

Direct Debt: City of Shakopee

$

36,461,324

100.0% 36,461,324 $

Overlapping Debt: Independent School District No. 720 Independent School District No. 191

165,655,000 138,355,000 113,540,000 265,680,000 683,230,000

76.1% 126,031,089 2.9% 3,981,093 24.1% 27,399,787 1.1% 2,885,497

Scott County

Metropolitan Council (2) Total Overlapping Debt:

160,297,466

Total Direct and Overlapping Debt

719,691,324 $

196,758,790 $

Source: Scott County and Dakota County Taxation Department Metropolitan Council

Note: Overlapping governments are those that coincide, at least in part, with geographic boundaries of the City. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the City. This process recognizes that, when considering the City's ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt of each government. (1) The percentage of overlapping debt is estimated using net tax capacity. Applicable percentages were estimated by determining the portion of net tax capacity that is within the City's boundaries and dividing it by total net tax capacity for each entity. (2) Excludes general obligation debt supported by wastewater revenues and housing rental payments. Includes certificates of participation.

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