2021 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

December 31, 2021 STATEMENT OF NET POSITION - COMPONENT UNIT - SPUC

Electric

Water

Total

ASSETS Current Assets

Cash and Investments Accrued Interest Receivable Customer Accounts Receivable Allowance for Uncollectible Accounts

44,204,443 $

11,334,850 $

55,539,293 $

35,322

14,655 392,448 (32,540) 340,576 27,192 200,000 31,753 19,550

49,977

4,234,201

4,626,649 (113,203) 2,725,621 108,769 200,000 1,471,972

(80,663)

Other Accounts Receivable Due from City of Shakopee Due from Other Fund

2,385,045

81,577

-

Inventory

1,440,219

Prepaid Expenses

56,629

76,179

Total Current Assets

52,356,773

12,328,484

64,685,257

Noncurrent Assets Restricted Assets:

Customer Deposits Account

1,602,470

96,249

1,698,719 15,774,600 1,904,156

Connection Account

- -

15,774,600 1,904,156

Water Reconstruction Account Emergency Repairs Account

100,000

-

100,000

Capital Assets:

Plant in Service

78,663,005 (33,113,187) 3,808,757 51,061,045 103,417,818

78,989,856 (24,703,991) 4,951,865 77,012,735 89,341,219

157,652,861 (57,817,178) 8,760,622 128,073,780 192,759,037

Accumulated Depreciation Construction in Progress Total Noncurrent Assets

Total Assets

Deferred Outflows of Resources Deferred Outflows of Resources Related to Pensions

1,359,667

612,580

1,972,247

Total Assets and Deferred Outflows of Resources

104,777,485 $

89,953,799 $

194,731,284 $

LIABILITIES AND NET POSITION Current Liabilities Accounts Payable

4,152,391 $

$

972,528 52,309

5,124,919 $

Due to City of Shakopee

220,448 200,000 266,986 4,839,825 1,602,470 895,089 1,866,526 2,761,615 9,203,910 182,161 1,859,706 2,041,867

272,757 200,000 398,457

Due to Other Fund

-

Other Current Liabilities

131,471 1,156,308

Total Current Liabilities

5,996,133 1,698,719

Customer Deposits

96,249

Noncurrent Liabilities Customer Advances Net Pension Liability

375,165 840,938 1,216,103 2,468,660

1,270,254 2,707,464 3,977,718 11,672,570

Total Noncurrent Liabilities

Total Liabilities

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

-

182,161

837,866 837,866

2,697,572 2,879,733

Total Deferred Inflows of Resources

Total Liabilities and Deferred Inflows of Resources

11,245,777

3,306,526

14,552,303

Net Position

Investment in Capital Assets

49,358,575

59,237,730 17,775,005 9,634,538 86,647,273

108,596,305 17,775,005 53,807,671 180,178,981

Restricted for Connections & Reconstruction

-

Unrestricted

44,173,133 93,531,708

Total Net Position

104,777,485 $

89,953,799 $

194,731,284 $

Total Liabilities and Net Position

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

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