2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE

December 31, 2020 STATEMENT OF NET POSITION - COMPONENT UNIT - SPUC

Electric

Water

Total

ASSETS Current Assets

Cash and Investments

44,318,158 $

9,458,885 $

53,777,043 $

Accrued Interest Receivable Customer Accounts Receivable

76,441

19,231 387,957 (53,915)

95,672

3,963,007 (260,922)

4,350,964 (314,837) 1,186,855

Allowance for Uncollectible Accounts

Other Accounts Receivable Due from City of Shakopee

58,144 84,946

1,128,711

27,728 33,648 16,544

112,674

Inventory

1,002,297

1,035,945

Prepaid Expenses

48,399

64,943

Total Current Assets

49,290,470

11,018,789

60,309,259

Noncurrent Assets

Restricted Assets:

Customer Deposits Account

2,317,923

101,662

2,419,585 14,709,814 1,082,420

Connection Account

- -

14,709,814 1,082,420

Water Reconstruction Account Emergency Repairs Account

100,000

-

100,000

Capital Assets:

Plant in Service

76,077,200 (30,703,485) 1,655,084 49,446,722 98,737,192

74,321,675 (22,926,096) 2,371,883 69,661,358 80,680,147

150,398,875 (53,629,581)

Accumulated Depreciation Construction in Progress

4,026,967

Total Noncurrent Assets

119,108,080 179,417,339

Total Assets

Deferred Outflows of Resources

Deferred Outflows of Resources Related to Pensions

350,348

113,987

464,335

Total Assets and Deferred Outflows of Resources

99,087,540 $

80,794,134 $

179,881,674 $

LIABILITIES AND NET ASSETS Current Liabilities Accounts Payable

2,968,961 $

$

475,942 27,726 165,365 669,033

$

3,444,903

Due to City of Shakopee Other Current Liabilities

504,019 367,646

531,745 533,011

Total Current Liabilities

3,840,626

4,509,659

Liabilities Payable from Restricted Assets Customer Deposits

2,317,923 2,317,923

101,662 101,662

2,419,585 2,419,585

Total Liabilities Payable from Restricted Assets

Noncurrent Liabilities Unearned Revenues

1,825

-

1,825

Customer Advances Net Pension Liability

285,854

58,411 997,874

344,265

3,067,046 3,354,725 9,513,274

4,064,920 4,411,010 11,340,254

Total Noncurrent Liabilities

1,056,285 1,826,980

Total Liabilities

Deferred Inflows of Resources Related to Pensions

134,467

43,749

178,216

Total Liabilities and Deferred Inflows of Resources

9,647,741

1,870,729

11,518,470

Net Position

Investment in Capital Assets

47,028,799

53,767,462 15,792,234 9,363,709 78,923,405

100,796,261 15,792,234 51,774,709 168,363,204

Restricted for Connections & Reconstruction

-

Unrestricted

42,411,000 89,439,799

Total Net Position

99,087,540 $

80,794,134 $

179,881,674 $

Total Liabilities and Net Position

44

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