2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE

December 31, 2020 STATEMENT OF NET POSITION

Governmental Activities

Business-Type Activities

Total

Component Unit

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

$

48,356,308 4,769,291

$

20,094,534

$

68,450,842 4,769,291

$

53,777,043 18,311,819

Restricted Cash and Investments

- -

Property Tax Receivable

115,180 354,651 104,047 212,311 29,682 375,245 529,873 3,198,565 (3,428,954) 1,974,407

115,180 393,858 147,603

-

Accounts Receivable (Net of Allowance for Uncollectible Accounts)

39,207 43,556 842,818 145,154

5,222,982

Interest Receivable

95,672 112,674

Due From Other Governments Special Assessments Receivable

1,055,129 3,343,719

-

Inventories

3,516

33,198 375,245 529,873

1,035,945

Prepaid Expenses

- -

64,943

Land Held for Resale

- - -

Advances from Other Funds (Internal Balances)

3,428,954

-

Net Pension Asset

-

1,974,407

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

23,258,561

3,796,803

27,055,364 1,397,711 13,278,739

5,566,953

Right of Way

889,965

507,746

-

Construction in Progress

8,448,214

4,830,525

4,026,967

Line Rights Infrastructure Plant in Service

-

693,007

693,007

- -

73,694,268

77,627,159

151,321,427

-

- -

-

91,202,341

Buildings

56,086,407 13,591,688

56,086,407 15,111,622

- -

Machinery and Equipment

1,519,934

Total Assets

232,559,709

113,572,913

346,132,622

179,417,339

Deferred Outflows of Resources

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

4,974,272

65,345 22,456

5,039,617

464,335

494,009

516,465

-

Total Deferred Outflows of Resources

5,468,281

87,801

5,556,082

464,335

$

238,027,990

$

113,660,714

$

351,688,704

$

179,881,674

Total Assets and Deferred Outflows of Resources

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

$

1,961,716

$

168,963

$

2,130,679

$

3,444,903

Other Current Liabilities Due to Other Governments Salaries and Benefits Payable

-

-

-

533,011 531,745

206,933 657,065

160,647

367,580 657,065

- - - - -

-

Deposits Payable Interest Payable Unearned Revenue Customer Advances

2,937,338

2,937,338

2,419,585

568,798 183,257

568,798 183,257

-

1,825

-

-

344,265

Bond Principal Payable, Net:

Payable Within One Year Payable After One Year

3,680,000 39,892,636

- -

3,680,000 39,892,636

- -

Capital Lease Payable

Payable Within One Year

5,481

-

5,481

-

Compensated Absences Payable: Payable Within One Year

1,312,835 1,604,576

24,282 29,678

1,337,117 1,634,254

- -

Payable After One Year

OPEB Liability:

Payable After One Year

2,649,648

120,438

2,770,086

-

Net Pension Liability:

Payable After One Year

12,675,255

527,931

13,203,186

4,064,920

Total Liabilities

68,335,538

1,031,939

69,367,477

11,340,254

Deferred Inflows of Resources

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

5,432,307

21,878

5,454,185

178,216

52,578

2,390

54,968

-

Total Deferred Inflows of Resources

5,484,885

24,268

5,509,153

178,216

Total Liabilities and Deferred Inflows of Resources

73,820,423

1,056,207

74,876,630

11,518,470

Net Position

Net Investment in Capital Assets

135,476,194

88,975,174

224,451,368

100,796,261

Restricted for:

- - - - - - -

Economic Development

1,022,360

1,022,360

- - - -

SCDP Grant

18,368 158,299

18,368 158,299

Forfeiture

Debt Service

4,382,028

4,382,028

Componet Units Water and Electric

-

-

15,792,234

Capital Improvements

2,624,702 20,525,616

2,624,702 44,154,949

-

Unrestricted

23,629,333

51,774,709

Total Net Position

164,207,567

112,604,507

276,812,074

168,363,204

Total Liabilities, Deferred Inflows of Resources and Net Position

$

238,027,990

$

113,660,714

$

351,688,704

$

179,881,674

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

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