2021 Annual Comprehensive Financial Report

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

NOTE 6 – CAPITAL ASSETS (CONTINUED) Depreciation expense was charged to functions/programs of the City as follows: Business-Type Activities: Sanitary Sewer

955,710 $

Storm Drainage

938,142 117,111

Refuse

2,010,963

Total Depreciation Expense- Business-Type Activities

Component unit capital asset activity for the year ended December 31, 2021 was as follows:

Beginning Balance

Ending Balance

Increases

Decreases

Construction in Progress Total Capital Assets not being Depreciated Component Unit Capital Assets not being Depreciated: Land and Land Rights

6,329,702 $

$

-

$

-

6,329,702 $

4,026,967

6,933,093

2,199,438

8,760,622

10,356,669

6,933,093

2,199,438

15,090,324

Capital Assets being Depreciated: Distribution

127,398,434 16,670,739

6,751,570 577,989

12,182 63,391

134,137,822 17,185,337

General

Total Capital Assets being Depreciated

144,069,173

7,329,559

75,573

151,323,159

Less Accumulated Depreciation

53,629,581

4,260,677

73,080

57,817,178

Total Capital Assets being Depreciated, Net

90,439,592

3,068,882

2,493

93,505,981

Governmental Activities Capital Assets, Net

100,796,261 $

10,001,975 $

2,201,931 $

108,596,305 $

Depreciation expense was charged to functions/programs of the Component Unit as follows: Component Units:

Electric

1,777,895 2,482,782 $

Water

4,260,677

Total Depreciation Expense- Component Unit Activities

68