2021 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

December 31, 2021 STATEMENT OF NET POSITION

Governmental Activities

Business-Type Activities

Total

Component Unit

ASSETS AND DEFERRED OUTFLOWS OF RESOURCES Assets Cash and Investments (Including Cash Equivalents)

$

50,998,534 1,719,381

$

20,292,447

$

71,290,981 1,719,381

$

55,539,293 19,477,475 7,239,067 49,977 108,769 -

Restricted Cash and Investments

- -

Property Tax Receivable

114,979 684,739 117,776

114,979 762,682 168,290

Accounts Receivable (Net of Allowance for Uncollectible Accounts)

77,943 50,514 565,123 118,777

Interest Receivable

Due From Other Governments Special Assessments Receivable

6,134,074 2,238,852 30,157 466,855 3,861,463 (3,432,697) 2,163,427 24,743,369 1,089,211 6,401,943

6,699,197 2,357,629 32,895 466,855 3,861,463

-

Inventories

2,738

1,471,972

Prepaid Expenses Land Held for Resale

- -

76,179

- - -

Advances from Other Funds (Internal Balances)

3,432,697

-

Net Pension Asset

-

2,163,427

Capital Assets, Net of Accumulated Depreciation (Where Applicable): Land and Land Improvements

3,796,803 507,746 4,870,157 668,274 84,985,305

28,540,172 1,596,957 11,272,100

6,329,702

Right of Way

-

Construction in Progress

8,760,622

Line Rights Infrastructure Plant in Service

-

668,274

- - - -

80,709,584

165,694,889

-

- -

-

93,505,981

Buildings

54,687,458 14,661,707

54,687,458 16,102,680

Machinery and Equipment

1,440,973

247,390,812

120,809,497

368,200,309

192,559,037

Total Assets

Deferred Outflows of Resources Deferred Outflows of Resources Related to Pensions Deferred Outflows of Resources Related to OPEB

10,917,265

285,164 24,384

11,202,429

1,972,247

550,400

574,784

-

11,467,665

309,548

11,777,213

1,972,247

Total Deferred Outflows of Resources

258,858,477 $

121,119,045 $

379,977,522 $

194,531,284 $

Total Assets and Deferred Outflows of Resources

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION Liabilities Accounts and Contracts Payable

$

2,800,813

$

178,100

$

2,978,913

$

5,124,919 398,457 272,757

Other Current Liabilities Due to Other Governments Salaries and Benefits Payable

-

-

-

592,803 758,831 4,131,034 507,732 157,241

235,115

827,918 758,831 4,131,034 507,732 157,241

- - - - - - -

-

Deposits Payable Interest Payable Unearned Revenue Customer Advances

1,698,719

- -

-

-

1,270,254

Bond Principal Payable, Net: Payable Within One Year Payable After One Year Compensated Absences Payable: Payable Within One Year

1,475,000 38,255,992

1,475,000 38,255,992

- - - -

1,371,659 1,676,472

27,006 33,007

1,398,665 1,709,479

Payable After One Year

OPEB Liability:

Payable After One Year

3,043,840

134,854

3,178,694

-

Net Pension Liability:

Payable After One Year

8,140,135

385,460

8,525,595

2,707,464

Total Liabilities

62,911,552

993,542

63,905,094

11,472,570

Deferred Inflows of Resources Regulatory Collections to Cover Future Costs Deferred Inflows of Resources Related to Pensions Deferred Inflows of Resources Related to OPEB

-

-

-

182,161 2,697,572

14,100,841

353,953

14,454,794

55,420

2,456

57,876

-

14,156,261

356,409

14,512,670

2,879,733

Total Deferred Inflows of Resources

77,067,813

1,349,951

78,417,764

14,352,303

Total Liabilities and Deferred Inflows of Resources

Net Position

Net Investment in Capital Assets

143,607,647

96,269,258

239,876,905

108,596,305

Restricted for:

- - - - - - -

Economic Development

1,402,943 18,368 183,336 1,239,273 4,204,381 31,134,716 -

1,402,943 18,368 183,336 1,239,273 4,204,381 54,634,552 -

- - - -

SCDP Grant Forfeiture Debt Service

Componet Units Water and Electric

17,775,005

Capital Improvements

-

Unrestricted

23,499,836

53,807,671

Total Net Position

181,790,664

119,769,094

301,559,758

180,178,981

Total Liabilities, Deferred Inflows of Resources and Net Position

258,858,477 $

121,119,045 $

379,977,522 $

194,531,284 $

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

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