2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

STATEMENT OF NET POSITION (Continued) December 31, 2023

Component Unit Shakopee Public Utility

Primary Government

Governmental Activities

Business-Type Activities

Total

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION Liabilities Accounts and Contracts Payable

$ 3,683,994

$

358,673

$ 4,042,667

$

6,118,287 1,010,066 491,484

Other Current Liabilities Due to Other Governments Salaries and Benefits Payable

-

-

-

334,348 905,242 6,026,552 580,529 205,607

225,091

559,439 905,242 6,026,552 580,529 205,607

- - - - - - - - - - -

-

Deposits Payable Interest Payable Unearned Revenue Customer Advances

1,847,971

- -

-

-

1,505,369

Bond Principal Payable, Net: Payable Within One Year Payable After One Year Payable Within One Year Payable After One Year Payable Within One Year Payable After One Year SBITA Liability Compensated Absences Payable: Payable Within One Year Lease Liability

2,480,000 43,597,663

2,480,000 43,597,663

- - - -

226,555 342,652

226,555 342,652

84,928 36,555

84,928 36,555

41,068 375,081

1,354,417 1,655,398 108,067 1,738,536

- - - -

1,325,860 1,620,495 103,591 1,666,526

28,557 34,903 4,476 72,010

Payable After One Year

OPEB Liability:

Payable Within One Year Payable After One Year

Net Pension Liability:

Payable After One Year

13,998,746

537,769

14,536,515

4,003,792

Total Liabilities

77,219,843

1,261,479

78,481,322

15,393,118

Deferred Inflows of Resources Regulatory Collections to Cover Future Costs

-

- - -

-

205,267

Resources Received in Advance

445,470 2,145,883 16,024,801 1,327,399

445,470 2,145,883 16,234,001 1,384,755

-

Deferred Inflows of Resources Related to Leases Deferred Inflows of Resources Related to Pensions Deferred Inflows of Resources Related to OPEB

2,309,436 1,341,619

209,200 57,356

-

19,943,553

266,556

20,210,109

3,856,322

Total Deferred Inflows of Resources

97,163,396

1,528,035

98,691,431

19,249,440

Total Liabilities and Deferred Inflows of Resources

Net Position

Net Investment in Capital Assets

149,909,918

107,638,120

257,548,038

129,350,905

Restricted for:

- - - - - - - - - - -

Economic Development

2,415,467

2,415,467

- - - - - - - -

SCDP Grant

18,368 5,305

18,368 5,305

DARE

Public Safety Fund Opioids Settlement

1,622,547 156,085 101,381 1,261,742 3,470,018 6,326,435 34,506,708

1,622,547 156,085 101,381 1,261,742 3,470,018 6,326,435 56,414,566

Forfeiture Fire Pension Debt Service

Component Units Water and Electric

-

-

19,835,106

Capital Improvements

-

Unrestricted

21,907,858

58,477,723

Total Net Position

199,793,974

129,545,978

329,339,952

207,663,734

Total Liabilities, Deferred Inflows of Resources and Net Position

$ 296,957,370

$ 131,074,013

$ 428,031,383

$

226,913,174

The Notes to the Financial Statements are an integral part of this statement.

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