2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years

2014

2015

2016

2017

REVENUES: Taxes

$ 16,798,542 2,673,132 2,318,447 4,743,014 4,683,722 429,021 675,643 32,321,521

$ 17,225,535 18,549,468 $

$ 21,476,591

Special Assessments Licenses and Permits Intergovernmental Charges for Service Fines and Forfeits

1,157,405 2,989,038 3,427,130 4,479,845 171,856 604,816

1,615,161 3,146,818 3,619,810 4,759,244 104,943 877,108

933,773 3,283,495 2,447,795 5,681,712 241,874 1,004,665 35,069,905 4,415,257 11,039,220 2,973,840 5,228,929

Miscellaneous

Total Revenues

30,055,625 32,672,552

EXPENDITURES: General Government

5,225,483 10,193,496 2,829,846 3,981,999

3,864,337

4,016,871

Police

10,209,739 10,643,342

Public Works

3,036,284 3,891,542

3,061,172 4,269,211

Culture and Recreation

Conservation and Natural Resources

-

-

-

-

Economic Development

1,595,628

2,352,621

2,092,337

1,611,073

Debt Service: Principal

3,160,000 504,460 7,245,157 34,736,069

5,615,000 365,898

1,685,000 864,494

1,685,000 1,259,987 18,386,260 46,599,566

Interest and Other Charges

Capital Outlay

5,461,607 32,159,412 34,797,028 58,791,839

Total Expenditures

Excess of Revenues Under Expenditures

(2,414,548)

(4,741,403)

(26,119,287)

(11,529,661)

OTHER FINANCING SOURCES (USES): Bonds Issued

-

- - - - -

29,500,000

-

Sale of Assets

314

9,134

104,661

Premium on Bonds Issued

- - -

2,237,727

- -

SBITA Issued Lease Issued Transfers In Transfers Out Special Items

- -

79,100

3,531,038 (2,932,028)

6,135,344 (5,145,452) (634,070)

6,916,355 (3,378,977)

7,282,929 (4,794,939)

-

-

-

Total Other Financing Sources (Uses)

599,324

355,822 35,284,239

2,671,751

Net Change in Fund Balance

$ (1,815,224)

$ (4,385,581)

$ 9,164,952

$ (8,857,910)

Debt Service as a Percentage of Noncapital Expenditures

12%

20%

9%

10%

In 2018 the City reported Conservation and Natural Resources separately from Culture and Recreation. Prior years have not been restated. In 2020 the City reported Conservation and Natural Resources as part of Public Works.

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