2019 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

STATEMENT OF NET POSITION December 31, 2019

Governmental Activities

Business-Type Activities

Total

Component Unit

ASSETS AND DEFERRED OUTFLOWS OF RESOURCES Assets Cash and Investments (Including Cash Equivalents)

$

43,726,793 1,008,255

$

22,929,518

$

66,656,311 1,008,255

$

48,963,233

Cash with Fiscal Agent

- - -

-

Restricted Cash and Investments

-

-

17,734,822

Property Tax Receivable

90,928 526,829 125,343 348,185

90,928 567,498 189,284 953,400

-

Accounts Receivable (Net of Allowance for Uncollectible Accounts)

40,669 63,941 605,215 169,653

4,183,418 201,586 211,857

Interest Receivable

Due From Other Governments Special Assessments Receivable

3,416,479 29,944 390,973 1,854,213 (1,430,000) 1,431,754 23,257,460 494,746 4,380,173

3,586,132 34,292 392,331 1,854,213

-

Inventories

4,348 1,358

1,407,601

Prepaid Expenses Land Held for Resale

61,829

-

- - -

Advances from Other Funds (Internal Balances)

1,430,000

-

Net Pension Asset

-

1,431,754

Capital Assets, Net of Accumulated Depreciation (Where Applicable): Land and Land Improvements

3,796,803 507,746 670,851 717,808 76,232,227

27,054,263 1,002,492 5,051,024

5,566,953

Right of Way

-

Construction in Progress

1,933,614

Line Rights Infrastructure Plant in Service

-

717,808

- - - -

75,798,966

152,031,193

-

- -

-

91,609,707

Buildings

57,440,147 13,642,176

57,440,147 15,283,981

Machinery and Equipment

1,641,805

226,533,364

108,811,942

335,345,306

171,874,620

Total Assets

Deferred Outflows of Resources Deferred Outflows of Resources Related to Pensions Deferred Outflows of Resources Related to OPEB

7,209,538 151,980

62,615 7,000

7,272,153 158,980

323,174

-

7,361,518

69,615

7,431,133

323,174

Total Deferred Outflows of Resources

233,894,882 $

108,881,557 $

342,776,439 $

172,197,794 $

Total Assets and Deferred Outflows of Resources

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION Liabilities Accounts and Contracts Payable

$

1,148,142

$

470,952

$

1,619,094

$

4,138,659 537,869 578,866

Other Current Liabilities Due to Other Governments Salaries and Benefits Payable

-

-

-

291,903 512,085 2,696,508 432,888 197,286

169,322

461,225 512,085 2,696,508 432,888 197,286

- - - - - - - - -

-

Deposits Payable Interest Payable Unearned Revenue Customer Advances

2,364,067

-

5,210

-

-

730,955

Bond Principal Payable, Net: Payable Within One Year Payable After One Year

1,750,000 34,711,324

1,750,000 34,711,324

- - - - - -

Capital Lease Payable

Payable Within One Year Payable After One Year

21,135 5,481

21,135 5,481

Compensated Absences Payable: Payable Within One Year

1,117,403 1,365,715

22,113 27,027

1,139,516 1,392,742

Payable After One Year

OPEB Liability:

Payable After One Year

2,203,631

101,482

2,305,113

-

Net Pension Liability:

Payable After One Year

10,836,611

492,094

11,328,705

3,532,888

Total Liabilities

57,290,112

1,282,990

58,573,102

11,888,514

Deferred Inflows of Resources Deferred Inflows of Resources Related to Pensions Deferred Inflows of Resources Related to OPEB

9,192,883

88,785 2,740

9,281,668

672,678

59,508

62,248

-

9,252,391

91,525

9,343,916

672,678

Total Deferred Inflows of Resources

66,542,503

1,374,515

67,917,018

12,561,192

Total Liabilities and Deferred Inflows of Resources

Net Position

Net Investment in Capital Assets

139,359,387

83,567,240

222,926,627

99,110,274

Restricted for:

- - - - - -

SCDP Grant Forfeiture Debt Service

18,368 174,372 3,512,773 3,068,511 21,218,968 -

18,368 174,372 3,512,773 3,068,511 45,158,770 -

- - -

Componet Units Water and Electric

15,270,755

Capital Improvements

-

Unrestricted

23,939,802

45,255,573

Total Net Position

167,352,379

107,507,042

274,859,421

159,636,602

Total Liabilities, Deferred Inflows of Resources and Net Position

233,894,882 $

108,881,557 $

342,776,439 $

172,197,794 $

The Notes to the Financial Statements are an integral part of this statement.

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