2021 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - COMPONENT UNIT - SPUC

For the Year Ended December 31, 2021

Electric

Water

Total

$ 52,853,012

$ 6,610,535

$ 59,463,547

Operating Revenues

Operating Expenses

48,980,140

5,717,448

54,697,588

Operating Income (Loss)

3,872,872

893,087

4,765,959

NONOPERATING REVENUES (EXPENSES) Rentals and Miscellaneous

171,815 90,000 (168,812)

164,655

336,470 90,000 (188,455)

Interdepartmental Rent from Water

-

Investment Income Interest Expense

(19,643)

(3,954) 31,057

(185)

(4,139) 31,057

Gain(Loss) on Disposition of Property

-

Total Nonoperating Revenues (Expenses)

120,106

144,827

264,933

Income Before Contributions

3,992,978

1,037,914

5,030,892

Capital Contributions

98,931

6,685,954

6,784,885

Change in Net Position

4,091,909

7,723,868

11,815,777

NET POSITION Beginning of Year

89,439,799

78,923,405

168,363,204

End of Year

93,531,708 $

86,647,273 $

180,178,981 $

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

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