2023 Annual Comprehensive Financial Report

CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS For the Year Ended December 31, 2023 STATEMENT OF REVENUES, EXPENDITURES AND CITY OF SHAKOPEE

TIF District No. 18 Canterbury Commons Capital Projects

Special Revenue

Economic Development Authority

TIF District No. 20 Enclave

Capital Improvement

General Fund

REVENUES Taxes

$ 20,790,616

$ 494,281

$ 1,875,139

-

-

$

$

Tax Increment

-

74,001

-

1,178,058

212,327

Special Assessments Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Total Revenues Miscellaneous

56,189

- -

965,321

- - - - - -

- - - - - - -

6,393,008 1,941,519 9,121,635 327,215 438,855 1,029,039 40,098,076

-

23,250 816,186

4,792,058

- -

-

301,761 78,938 1,788,417

184,826 641,480 8,458,824

85,354

1,263,412

212,327

EXPENDITURES Current

General Government

5,306,830 16,248,794 7,539,374 5,017,325

- - - - -

- - - - - - - -

- - - - -

- - - - -

Public Safety Public Works

Culture and Recreation

Conservation and Natural Resources

- -

730,415

67,684

2,308

Economic Development

Debt Service Principal

56,100 8,680 296,649

- -

-

-

Interest and Other Charges

184,826 1,820,870 2,073,380

80,929

Capital Outlay

3,555,392 4,285,807

10,239,218 10,239,218

-

Total Expenditures

34,473,752

83,237

Excess of Revenues Over (Under) Expenditures

5,624,324

(2,497,390)

(1,780,394)

(809,968)

129,090

OTHER FINANCING SOURCES (USES) Proceeds from Sale of Capital Asset

2,416 29,297 11,795 400,000

12,000

- - -

- - - -

- - - - -

SBITA Issued Lease Issued Transfers In Transfers Out

- -

3,592,076

3,700,000

(4,048,650)

-

-

(4,193,812)

Total Other Financing Sources (Uses) Net Change in Fund Balances

(3,605,142)

3,604,076

3,700,000

(4,193,812)

-

2,019,182

1,106,686

1,919,606

(5,003,780)

129,090

FUND BALANCES Beginning of Year

20,005,296

1,305,866

10,777,601

2,777,256

(2,533,625)

End of Year

$ 22,024,478

$ 2,412,552

$ 12,697,207

$ (2,226,524)

$ (2,404,535)

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

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