2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

CHANGES IN NET POSITION Years 2014 Through 2023

2014

2015

2016

2017

2018

2019

EXPENSES: Governmental Activities: General Government

$

5,514,412 10,543,861 10,667,275 4,250,557 1,593,968 453,696 33,023,769 -

$

4,237,647 10,582,354 8,552,096 4,355,453 2,603,741 274,960 30,606,251 3,824,026 1,726,149 127,781 5,677,956 36,284,207 -

$

4,205,975 13,281,715 8,593,885 4,653,362 2,104,584 1,190,824 34,030,345 3,843,232 1,848,768 127,034 5,819,034 39,849,379 -

$

4,624,885 11,981,416 9,695,789 5,359,259 1,630,516 1,112,571 34,404,436 4,226,027 1,773,670 125,647 6,125,344 40,529,780 -

$

5,267,652 11,376,216 12,431,309 4,953,434 3,069,377 1,009,230 38,194,773 3,968,897 1,685,266 124,579 5,778,742 43,973,515 87,555

$

5,372,566 12,921,133 12,681,165 5,171,408 169,247 3,271,933 666,405 40,253,857 4,216,061 1,785,789 123,513 6,125,363 46,379,220

Public Safety Public Works

Culture and Recreation

Conservation and Natural Resources

Economic Development

Other

Total Governmental Activities Expenses

Business-Type Activities: Sewer

3,777,866 1,924,853

Storm Refuse

-

Total Business-Type Activities Expenses Total Primary Government Expenses

5,702,719 38,726,488

$

$

$

$

$

$

PROGRAM REVENUES: Governmental Activities: Charges for Services: General Government

$

2,751,336 1,879,209 693,647 1,827,046

$

2,486,042 2,146,840 704,687 2,140,071

$

2,410,321 2,744,824 746,086 1,760,925 256,312 2,777,982 2,187,039 -

$

2,544,126 2,989,770 880,361 2,813,951

$

2,811,252 3,225,764 1,033,398 4,167,615

$

2,738,342 5,386,489 1,325,631 3,847,457 311,737 1,881,409 6,527,458 3,683

Public Safety Public Works

Culture and Recreation

Conservation and Natural Resources

-

-

-

52,384 113,908

Economic Development

18,000

24,000

26,520

Operating Grants and Contributions Capital Grants and Contributions Total Governmental Activities Program Revenues

2,880,493 6,668,531

2,509,986 1,735,543

2,068,419 3,847,001

2,036,547 5,061,933

16,718,262

11,747,169

12,883,489

15,170,148

18,502,801

22,022,206

Business-Type Activities: Charges for Services: Sewer

2,916,192 1,211,793

2,829,981 1,765,679 103,637

3,292,166 1,632,218 105,309

3,380,321 1,272,506 131,753

3,682,569 1,230,592 104,638

4,222,236 1,304,738 137,824

Storm Refuse

72,167

Operating Grants and Contributions Capital Grants and Contributions

-

-

-

890

-

-

496,655

65,844

183,142

2,701,892

4,233,507

5,213,883

Total Business-Type Activities Program Revenues Total Primary Government Program Revenues

4,696,807

4,765,141

5,212,835

7,487,362

9,251,306

10,878,681

$

21,415,069

$

16,512,310

$

18,096,324

$

22,657,510

$

27,754,107

$

32,900,887

Net (Expense) Revenue:

Governmental Activities Business-Type Activities

$ (16,305,507)

$ (18,859,082)

$ (21,146,856)

$ (19,234,288)

$ (19,691,972)

$ (18,231,651)

(1,005,912)

(912,815)

(606,199)

1,362,018

3,472,564

4,753,318

Total Primary Government Net Expense

$ (17,311,419)

$ (19,771,897)

$ (21,753,055)

$ (17,872,270)

$ (16,219,408)

$ (13,478,333)

GENERAL REVENUES AND OTHER CHANGES IN NET POSITION: Governmental Activities: Taxes: Property

$

16,446,631

$

16,807,367

$

18,015,507

$

19,229,300 1,251,819 1,014,774

$

20,005,373 1,343,650 1,657,231

$

19,416,202 1,305,556 2,405,929 1,464,670

Franchise

404,312 216,441 727,619 52,674

418,545 406,571 452,281 87,819 496,484 (634,070)

448,023 464,632 495,804 50,132

Other

Unrestricted Investment Earnings Gain on Disposal of Assets

390,911

508,812 14,588

1,576

165,784

Special Item

-

-

-

-

-

Transfers

(419,208)

1,271,853 20,745,951

26,990

436,480

(217,465)

Total Governmental Activities

17,428,469

18,034,997

21,915,370

23,966,134

24,540,676

Business-Type Activities:

Investment Earnings (Loss) Gain on Disposal of Assets

538,248

349,776 17,438 (496,484) (129,270)

289,001

340,345

318,501

812,204 82,498 217,465

-

1,911

6,217

1,875

Transfers

419,208 957,456

(1,271,853) (980,941) 19,765,010

(26,990) 319,572

(436,480) (116,104)

Total Business-Type Activities

1,112,167 25,652,843

Total Primary Government

$

18,385,925

$

17,905,727

$

$

22,234,942

$

23,850,030

$

Change in Net Position: Government Activities

$

1,122,962

$

(824,085) (1,042,085) (1,866,170)

$

(400,905) (1,587,140) (1,988,045)

$

2,681,082 1,681,590 4,362,672

$

4,274,162 3,356,460 7,630,622

$

6,309,025 5,865,485 12,174,510

Business-Type Activities

(48,456)

Total Primary Government

$

1,074,506

$

$

$

$

$

The City implemented GASB Statement No. 68 and GASB Statement No. 71 in 2015. Years prior to 2015 have not been restated.

In 2018 the City reported Conservation and Natural Resources separately from Culture and Recreation. Prior years have not been restated. In 2020 Conservation and Natural Resources was combined with Public Works.

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