2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE MANAGEMENT’S DISCUSSION AND ANALYSIS December 31, 2023

(Expressed in Thousands) Changes in Net Position

Governmental Activities

Business-Type Activities

Total

2023

2022

2023

2022

2023

2022

REVENUES: Program Revenues:

Charges for Services Operating Grants and Contributions Capital Grants and Contributions

$

17,653

$

15,018

$

6,694

$

6,283

$

24,347

$

21,301

2,037

2,203

81

2

2,118

2,205

12,585

11,106

4,863

4,095

17,448

15,201

General Revenues: Property Taxes

24,220 1,571 3,043 3,918 65,027 5,910 17,962 16,039 6,039

23,061 1,706 2,516 (2,196) 53,414

- - -

- - -

24,220 1,571 3,043 4,802 77,549 5,910 17,962 16,039 6,039

23,061 1,706 2,516 (2,845) 63,145

Franchise Taxes Tax Increment

Other

884

(649)

Total Revenues

12,522

9,731

EXPENSES: General Government

5,989 15,639 14,572 5,944

- - - - - - -

- - - - - - -

5,989 15,639 14,572 5,944

Public Safety Public Works

Culture and Recreation Natural Resources Economic Development Interest on Long-Term Debt

45

55

45

55

3,769 1,531

5,003 1,273

3,769 1,531 4,556 2,114

5,003 1,273 4,340 1,777

Sewer Storm Refuse

- - -

- - -

4,556 2,114

4,340 1,777

2

355

2

355

Total Expenses

51,295

48,475

6,672

6,472

57,967

54,947

Increase (Decrease) in Net Position before Transfers

13,732

4,939

5,850

3,259

19,582

8,198

Transfers

188

(856)

(188)

856

-

-

Change in Net Position

13,920

4,083

5,662

4,115

19,582

8,198

NET POSTION: January 1 December 31

185,874

181,791

123,884

119,769

309,758

301,560

$ 199,794

$ 185,874

$ 129,546

$ 123,884

$ 329,340

$ 309,758

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