2019 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

December 31, 2019 STATEMENT OF NET POSITION - PROPRIETARY FUNDS

Business-Type Activities - Enterprise Funds

Governmental Activities - Internal Service Funds

Sewer

Storm Drainage

Refuse

Total

ASSETS Current Assets Cash and Investments, Including Cash Equivalents

$

8,149,310

$

14,305,215

$

-

$

22,454,525

$

14,631,307

Accounts Receivable Interest Receivable

3,000 23,889

1,205 40,253

36,464

40,669 63,941

-

(201)

42,541

Special Assessment Receivable:

- - - - - -

Delinquent Deferred

1,408

-

- - - - - -

1,408

165,196 69,022 453,903

3,049

168,245 69,022 605,215

Due from Other Funds

-

Due from Other Governments

151,312

Inventories

60

4,288

4,348 1,358

Prepaid Expenses

679

679

264,400

Total Current Assets

8,866,467

14,506,001

36,263

23,408,731

14,938,248

Noncurrent Assets Advances to Other Funds, Noncurrent

533,517

1,430,000

-

1,963,517

1,191,394

Capital Assets: Land

4,500

3,792,303 507,746 652,567

- - - - - -

3,796,803 507,746 670,851 1,368,569

221,876

Right of Way

-

-

Construction in Progress

18,284

379,675

Line Rights Infrastructure

1,368,569 52,439,640

-

-

52,723,509

105,163,149

3,806,460 32,821,455 17,463,120 54,692,586 (23,779,681) 30,912,905 32,104,299

Buildings

-

-

-

Machinery and Equipment

2,040,447 55,871,440 (16,240,005) 39,631,435 40,164,952

1,191,336 58,867,461 (15,517,850) 43,349,611 44,779,611

1,172,068 1,172,068 (585,874) 586,194 586,194

4,403,851 115,910,969 (32,343,729) 83,567,240 85,530,757

Total Cost

Less Accumulated Depreciation

Net Capital Assets

Total Noncurrent Assets

Total Assets

49,031,419

59,285,612

622,457

108,939,488

47,042,547

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

23,765 3,500

38,850 3,500

- -

62,615 7,000

- -

27,265

42,350

-

69,615

-

Total Deferred Outflows of Resources

Total Assets and Deferred Outflows of Resources

$

49,058,684

$

59,327,962

$

622,457

109,009,103 $

$

47,042,547

LIABILITIES AND NET POSITION Current Liabilities Accounts Payable

$

240,895 132,202 145,256 13,787 532,140 -

$

91,182 6,673

$

- - - -

$

332,077 138,875 69,022 169,322 22,113 731,409 533,517 27,027 101,482 492,094

$

57,081 3,734

Contracts Payable Due to Other Funds

-

69,022

- -

Due to Other Governments Current Compensated Absences

24,066 8,326 130,247

1,117,403 1,178,218

Total Current Liabilities

69,022

Noncurrent Liabilities

Advance from Other Funds Compensated Absences

-

-

533,517

1,430,000 1,365,715

16,851 50,741 186,767 254,359 786,499

10,176 50,741 305,327 366,244 496,491

- - -

Total OPEB Liability Net Pension Liability

- -

Total Noncurrent Liabilities

533,517 602,539

1,154,120 1,885,529

2,795,715 3,973,933

Total Liabilities

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

33,697 1,370

55,088 1,370

- -

88,785 2,740

- -

35,067

56,458

-

91,525

-

Total Deferred Inflows of Resources

Net Position

Investment in Capital Assets

39,631,435 8,605,683 48,237,118

43,349,611 15,425,402 58,775,013

586,194 (566,276)

83,567,240 23,464,809 107,032,049

30,912,905 12,155,709 43,068,614

Unrestricted

19,918

Total Net Position

Total Liabilities, Deferred Inflows of Resources and Net Position

$

49,058,684

$

59,327,962

$

622,457

$

47,042,547

Adjustment to Reflect the Consolidation of Internal Service Fund Activity Related to Enterprise Funds (See Note 2c)

474,993

Total Business-Type Activities Net Position

107,507,042 $

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

38