2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

COMBINING STATEMENT OF CASH FLOWS - INTERNAL SERVICE FUNDS For the Year Ended December 31, 2023

Information and Technology

Employee Benefits

Self Insurance

Total

Equipment

Buildings

Park Asset

CASH FLOWS - OPERATING ACTIVITIES Receipts from Customers and Users

$ 1,364,700

$ 1,231,200

$ 635,900

$

- - -

$

611,292 (496,432)

$ 1,329,657

$ 5,172,749

Payments to Suppliers Receipts from Suppliers Payments to Employees

-

-

(46,715)

(973,439)

(1,516,586) 1,033,825

266,450

767,375

- -

- -

- -

-

-

(35,682)

(35,682)

Net Cash Flows - Operating Activities

1,631,150

1,998,575

589,185

(35,682)

114,860

356,218

4,654,306

CASH FLOWS - NONCAPITAL FINANCING ACTIVITIES Payment Paid on Interfund Loan Interest Paid on Interfund Loan

- - - - -

(60,000) (13,750)

- - - -

- - - - -

- - - - -

- -

(60,000) (13,750)

Insurance Dividends

-

27,053

27,053

Transfer from Other Funds Transfer to Other Funds

2,940,128

- -

2,940,128 (280,000)

-

(280,000)

Net Cash Flows - Noncapital Financing Activities

-

2,866,378

(280,000)

-

-

27,053

2,613,431

CASH FLOWS - CAPITAL AND RELATED FINANCING ACTIVITIES Principal paid on Leases and SBITA Proceeds from Disposal of Capital Assets

-

- -

- -

- - -

(78,637)

- -

(78,637) 901,783

901,783

-

Acquisition of Capital Assets

(1,207,073)

(2,614,748)

(209,309)

(60,031)

(47,525)

(4,138,686)

Net Cash Flows - Capital and Related Financing Activities

(305,290)

(2,614,748)

(209,309)

-

(138,668)

(47,525)

(3,315,540)

CASH FLOWS - INVESTING ACTIVITIES Interest Received (Loss)

326,187

334,810

95,226

83,970

64,142

144,578

1,048,913

Net Cash Flows - Investing Activities

326,187

334,810

95,226

83,970

64,142

144,578

1,048,913

1,652,047

2,585,015

195,102

48,288

40,334

480,324

5,001,110

Net Change in Cash and Cash Equivalents

CASH AND CASH EQUIVALENTS Beginning of Year

6,328,174

6,986,714

1,810,910

1,517,233

1,156,633

2,759,688

20,559,352

$ 7,980,221

$ 9,571,729

$ 2,006,012

$ 1,565,521

$ 1,196,967

$ 3,240,012

$ 25,560,462

End of Year

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH FLOWS - OPERATING ACTIVITIES Operating Income (Loss) Adjustments to Reconcile Operating Income (Loss) to Net Cash Flows - Operating Activities: Depreciation Expense

$

403,493

$ 510,611

$ 141,668

$

-

$

60,682

$

370,550

$ 1,487,004

961,207

685,478

430,052

-

66,393

-

2,143,130

Changes in:

Accounts Receivable

-

-

-

- - -

(708)

858

150

Accounts and Contracts Payable

266,450

802,486

17,465

5,579

(6,894) (8,296)

1,085,086

Prepaid Expenses

- -

- -

- -

(17,086)

(25,382) (35,682)

Compensated Absences Payable

(35,682) (35,682)

-

-

Total Adjustments

1,227,657

1,487,964

447,517

54,178

(14,332)

3,167,302

Net Cash Flows - Operating Activities

$ 1,631,150

$ 1,998,575

$ 589,185

$ (35,682)

$

114,860

$

356,218

$ 4,654,306

NONCASH INVESTING, CAPITAL AND FINANCING ACTIVITIES Contributions of Capital Assets from the Developers

$ $ $

86,167 47,525 (40,000)

$ $ $

-

$ $ $

7,300 (9,690)

$ $ $

- - -

$ $ $

- - -

$ $ $

-

$ $ $

93,467 (1,020) (40,000)

Transfer of Capital Assets Transfer of Lease Asset

8,670

(47,525)

-

-

-

147