2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2023

TABLE OF CONTENTS

SECTION I

Page

INTRODUCTORY SECTION

Organization Chart................................................................................................................... Letter of Transmittal................................................................................................................ Certificate of Achievement for Excellence in Financial Reporting....................................... Elected Officials and Administration......................................................................................

2 3 1

10

SECTION II

FINANCIAL SECTION

Fund Balances to the Statement of Activities – Governmental Funds....................... Reconciliation of the Statement of Revenues, Expenditures and Changes in Statement of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – General Fund............................................................................. Statement of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – Economic Development Authority Special Revenue Fund..... Statement of Revenues, Expenses and Changes in Net Position – Proprietary Funds......................................................................................................... Statement of Cash Flows – Proprietary Funds.............................................................. Statement of Fiduciary Net Position.............................................................................. Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds.................................................................................................... Statement of Changes in Fiduciary Net Position.......................................................... Statement of Net Position – Proprietary Funds............................................................. Notes to the Financial Statements...................................................................................... Balance Sheet – Governmental Funds........................................................................... Reconciliation of the Balance Sheet to the Statement of Net Position – Governmental Funds.................................................................................................... Basic Financial Statements: Government-Wide Financial Statements: Statement of Net Position.............................................................................................. Statement of Activities................................................................................................... Management’s Discussion and Analysis ................................... ..................................... ......... Fund Financial Statements: Independent Auditor’s Report.................................................................................................

11 14

30 32

34

37

38

41

42

50 49 45 46 48 43 44