2021 Annual Comprehensive Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2021

NOTE 17 – FUND BALANCE DETAIL Fund balances are classified as follows to reflect the limitations and restrictions of the respective funds.

TIF District No. 18 Canterbury Common

Other Governmental Funds

TIF District No. 20 Enclave

Capital Improvement

Total

General Fund

Nonspendable:

Prepaid Items

$

197,564

$

-

$

-

$

-

$

24,831

$

222,395

Restricted:

Forfeitures SCDP Grant

- - - - - -

- - - - - -

- - - -

- - - - - -

181,269 18,368 1,380,179 1,747,005 4,491,216 7,818,037

181,269 18,368 1,380,179 1,747,005 5,249,748 8,576,569

Economic Development

Debt Service

Capital Improvements

758,532 758,532

Total Restricted

Committed:

Building Permits

1,430,000

-

-

-

-

1,430,000

Assigned:

Telecommunications Capital Improvements

- - -

-

- - -

- - -

46,300

46,300

5,691,414 5,691,414

4,491,480 4,537,780

10,182,894 10,229,194

Total Assigned

Unassigned

16,144,333

-

-

(2,560,306)

(1,909,761)

11,674,266

Total Fund Balance

17,771,897 $

5,691,414 $

$

758,532

(2,560,306) $

10,470,887 $

32,132,424 $

The City has the following construction commitments at December 31, 2021. NOTE 18 – COMMITTMENTS Work

Project Authorization 6,234,424 $ 434,570 285,707

12/31/2021 Commitment

Completed

5,924,662 $ 384,605 109,557

Downtown Signs 2021 Street and Utility Reconstruction Stagecoach Park Red Oak Trail Fuel Island Upgrade Unbridled Avenue Construction 2020 Lateral Pipe Rehabilitation Jennifer Lane Park Gateway Signs

$

2,629 10,486 117,157 45,778 15,517 13,383 17,664 176,150 49,965 309,762

45,778 15,517 994,487 100,660 176,167 44,054 425,427

91,556 31,033 1,007,870

178,796 54,540 542,584 118,324

Park Planning- Confluence

95