2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2020

NOTE 6 – CAPITAL ASSETS (CONTINUED) Depreciation expense was charged to functions/programs of the City as follows:

Business-Type Activities: Sanitary Sewer

$

926,868 954,700 117,431

Storm Drainage

Refuse

1,998,999

Total Depreciation Expense- Governmental Activities

Component unit capital asset activity for the year ended December 31, 2020 was as follows:

Beginning

Ending Balance

Balance

Increases

Decreases

Component Unit Capital Assets not being Depreciated: Land and Land Rights

5,566,953 $

$

762,749

$

-

6,329,702 $

Construction in Progress

1,933,614

2,892,320

798,967

4,026,967

Total Capital Assets not being Depreciated

7,500,567

3,655,069

798,967

10,356,669

Capital Assets being Depreciated: Distribution

125,125,686 16,001,842

2,349,599

76,851 39,250

127,398,434 16,670,739

General

708,147

Total Capital Assets being Depreciated

141,127,528

3,057,746

116,101

144,069,173

Less Accumulated Depreciation

49,517,821

4,153,441

41,681

53,629,581

Total Capital Assets being Depreciated, Net

91,609,707

(1,095,695)

74,420

90,439,592

Governmental Activities Capital Assets, Net

99,110,274 $

2,559,374 $

$

873,387

100,796,261 $

Depreciation expense was charged to functions/programs of the City as follows:

Component Units:

Electric

2,420,110 $

Water

1,733,331

4,153,441

Total Depreciation Expense- Governmental Activities

69