2021 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

MANAGEMENT’S DISCUSSION AND ANALYSIS December 31, 2021

During the current year, the City’s net position increased $24.7 million. Governmental activities increased as a result of significant intergovernmental revenues, park dedication revenues, building permit revenues and contributed assets from outside developers. The business-type activities increased as a result of contributed assets from outside developers during the year.

(Expressed in Thousands) Changes in Net Position

Governmental Activities

Business-Type Activities

Total

2021

2020

2021

2020

2021

2020

REVENUES: Program Revenues:

$

12,343

$

9,458

$

5,805

$

5,534

$

18,148

$

14,992

Charges for Services Operating Grants and Contributions Capital Grants and Contributions

7,555

4,775

-

-

7,555

4,775

13,015

4,497

7,999

1,680

21,014

6,177

General Revenues:

21,725 1,312 2,680

20,704 1,158 2,317 1,645 44,554 5,367 13,246 13,862 4,446

- - -

- - -

21,725 1,312 2,680

20,704 1,158 2,317 2,295 52,418 5,367 13,246 13,862 4,446

Property Taxes Franchise Taxes Tax Increment

38

(151)

650

(113)

Other

Total Revenues

58,668

13,653

7,864

72,321

EXPENSES: General Government

5,477 12,374 13,880 5,174

- - - - - - -

- - - - - - -

5,477 12,374 13,880 5,174

Public Safety Public Works

Culture and Recreation Natural Resources Economic Development Interest on Long-Term Debt

73

24

73

24

3,052 1,169

5,927 1,214

3,052 1,169 4,390 1,863

5,927 1,214 4,497 1,760

- - -

- - -

4,390 1,863

4,497 1,760

Sewer Storm Refuse

121

123

121

123

41,199

44,086

6,374

6,380

47,573

50,466

Total Expenses

Increase (Decrease) in Net Position before Transfers

17,469

468

7,279

1,484

24,748

1,952

(3,613)

(114)

3,613

-

-

Transfers

114

17,583

(3,145)

7,165

5,097

24,748

1,952

Change in Net Position

NET POSTION: January 1 December 31

164,208

167,353

112,604

107,507

276,812

274,860

181,791 $

164,208 $

119,769 $

112,604 $

301,560 $

276,812 $

21