2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - COMPONENT UNIT - SPUC

For the Year Ended December 31, 2020

Electric

Water

Total

$ 47,198,288

$ 5,532,276

$ 52,730,564

Operating Revenues

Operating Expenses

43,598,552

5,012,367

48,610,919

Operating Income (Loss)

3,599,736

519,909

4,119,645

NONOPERATING REVENUES (EXPENSES) Rentals and Miscellaneous

77,161 90,000 595,308 (34,926)

203,265

280,426 90,000 887,166 (36,423)

Interdepartmental Rent from Water

-

Investment Income Interest Expense

291,858

(1,497)

Gain(Loss) on Disposition of Property

9,074

-

9,074

Total Nonoperating Revenues (Expenses)

736,617

493,626

1,230,243

Income Before Contributions

4,336,353

1,013,535

5,349,888

Capital Contributions

527,653

2,849,061

3,376,714

Change in Net Position

4,864,006

3,862,596

8,726,602

NET POSITION Beginning of Year

84,575,793

75,060,809

159,636,602

End of Year

89,439,799 $

78,923,405 $

168,363,204 $

45

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