2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

COMBINING STATEMENT OF NET POSITION - INTERNAL SERVICE FUNDS December 31, 2023

Information and Technology Self Insurance

Employee Benefits

Equipment

Buildings

Park Asset

Total

ASSETS Current Assets Cash and Investments, Including Cash Equivalents

$ 7,980,221

$ 9,571,729

$ 2,006,012

$ 1,565,521

$ 1,196,967

$ 3,240,012

$ 25,560,462

-

-

-

708

-

708

Accounts Receivable Interest Receivable Prepaid Expenses

-

51,425

59,961

14,669

10,318

7,713 78,852

20,673 219,304 3,479,989

164,759 298,156

-

-

-

-

Total Current Assets

8,031,646

9,631,690

2,020,681

1,575,839

1,284,240

26,024,085

Noncurrent Assets Advances to Other Funds, Noncurrent

-

50,000

-

-

-

-

50,000

Capital Assets: Land

-

-

221,876

- - - - - - - - - - -

- -

- - - - - - - - - - -

221,876 2,556,289 4,981,670 32,836,524 19,044,193

Construction in Progress

669,486

1,886,803 373,982 29,386,204

-

Infrastructure

- -

4,547,657 3,450,320 5,128,662

60,031

Buildings

-

306,823

Machinery and Equipment

12,743,996

864,712

Leased Equipment

163,832

-

-

-

163,832

Software Based Technology Information Assets (SBITA)

-

-

185,680 552,534

185,680

-

Total Cost

13,577,314

32,511,701

13,348,515

59,990,064

Less Accumulated Depreciation and Amortization

(14,343,769) 18,167,932 18,217,932

(6,563,643) 6,784,872 6,784,872

(167,430) 385,104 385,104

(28,168,991) 31,821,073 31,871,073

(7,094,149) 6,483,165 6,483,165

Net Capital Assets

Total Noncurrent Assets

Total Assets

$ 14,514,811

$ 27,849,622

$ 8,805,553

$ 1,575,839

$ 1,669,344

$ 3,479,989

$ 57,895,158

LIABILITIES AND NET POSITION Current Liabilities Accounts Payable Current Compensated Absences

$

$

11,621

$

2,570

$ 1,180,992

$ 327,828

$ 821,508

$

17,465

-

-

- - -

- - -

1,325,860

- -

- - -

1,325,860

- -

50,051 71,804

Current Lease Liability Current SBITA Liability

50,051

-

71,804 83,425

Total Current Liabilities

377,879

821,508

17,465

1,325,860

2,570

2,628,707

Noncurrent Liabilities Advance from Other Funds Compensated Absences

- -

990,000

- - - - -

-

- - -

- - - - -

990,000 1,620,495

- - -

1,620,495

- -

75,431 35,239

Lease Liability SBITA Liability

75,431

-

35,239 35,239 118,664

Total Noncurrent Liabilities

75,431 453,310

990,000 1,811,508

1,620,495 2,946,355

2,721,165 5,349,872

17,465

2,570

Total Liabilities

Net Position Investment in Capital Assets

6,357,683 7,703,818 14,061,501

18,167,932 7,870,182 26,038,114

6,784,872 2,003,216 8,788,088

-

278,061 1,272,619 1,550,680

-

31,588,548 20,956,738 52,545,286

Unrestricted

(1,370,516) (1,370,516)

3,477,419 3,477,419

Total Net Position

Total Liabilities and Net Position

$ 14,514,811

$ 27,849,622

$ 8,805,553

$ 1,575,839

$ 1,669,344

$ 3,479,989

$ 57,895,158

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