2022 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS

For the Year Ended December 31, 2022

TIF District No. 18 Canterbury Common Capital Projects

Other Governmental Funds

Total Governmental Funds

Capital Improvement

TIF District No. 20 Enclave

General Fund

REVENUES Taxes

$ 19,649,596

$ 1,977,627

$

-

$

-

3,564,201 1,369,429 164,940 3,265,094 270,283 595,100 466,093 (491,410) 9,298,262 94,532

$ 25,191,424

Tax Increment

-

-

1,036,386

109,883

2,515,698 893,686 9,353,506 5,540,271 8,226,503 475,364 711,835 (1,736,420)

Special Assessments Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures

76,312

652,434

- - - - - -

- - - - - - -

6,088,412 1,913,602 7,631,403

-

3,356,386

- -

9,271

Miscellaneous

237,860 (770,820)

379,443 (514,022) 5,851,868

Investment Income (Loss)

39,832

Total Revenues

34,835,636

1,076,218

109,883

51,171,867

EXPENDITURES Current

General Government

5,164,404 15,256,132 7,473,419 4,835,898

- - - - - - -

- - - - -

- - - - -

441,824 111,991 163,276

5,606,228 15,368,123 7,670,005 4,835,898

Public Safety Public Works

33,310

Culture and Recreation

-

Conservation and Natural Resources

- - - -

36,727

36,727

Economic Development

135,394

2,594

2,696,362

2,834,350

Debt Service Principal

-

-

1,475,000 1,196,635 2,161,908 8,283,723

1,475,000 1,287,695 10,979,692 50,093,718

Interest and Other Charges

10,452

80,608

Capital Outlay

73,610

4,850,090 4,883,400

3,894,084 4,039,930

-

Total Expenditures

32,803,463

83,202

Excess of Revenues Over (Under) Expenditures

2,032,173

968,468

(2,963,712)

26,681

1,014,539

1,078,149

OTHER FINANCING SOURCES (USES) Proceeds from Sale of Capital Asset

984

-

-

- - - - - -

- - - -

984

Bonds Issued

- -

4,090,000 112,399

5,910,000

10,000,000 117,582 26,242 2,277,547 (1,877,547)

Premium on Bonds Issued

5,183

Lease Issued Transfers In Transfers Out

26,242 400,000 (226,000)

- -

- -

1,877,547 (634,120)

(84,680)

(932,747)

Total Other Financing Sources (Uses) Net Change in Fund Balances

201,226

4,117,719

4,982,436

-

1,243,427

10,544,808

2,233,399

5,086,187

2,018,724

26,681

2,257,966

11,622,957

FUND BALANCES Beginning of Year

17,771,897

5,691,414

758,532

(2,560,306)

10,470,887

32,132,424

End of Year

$ 20,005,296

$ 10,777,601

$ 2,777,256

$ (2,533,625)

$ 12,728,853

$ 43,755,381

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

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