2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

December 31, 2023 STATEMENT OF NET POSITION - PROPRIETARY FUNDS

Business-Type Activities - Enterprise Funds

Governmental Activities - Internal Service Funds

Sewer

Storm Drainage

Refuse

Total

ASSETS Current Assets Cash and Investments, Including Cash Equivalents

$

6,469,131

$ 12,122,904

$

- -

$ 18,592,035

$ 25,560,462

Accounts Receivable Interest Receivable

-

2,114 78,344

2,114

708

42,215

(101)

120,458

164,759

Special Assessment Receivable: Deferred

200,538 15,653 390,046

7,121

- - - - -

207,659 15,653 506,218

- - - -

Due from Other Funds

-

Due from Other Governments

116,172

Inventories

418

2,453

2,871

Prepaid Expenses

-

-

-

298,156

Total Current Assets

7,118,001

12,329,108

(101)

19,447,008

26,024,085

Noncurrent Assets

Advances to Other Funds, Noncurrent

106,703

3,056,864

-

3,163,567

50,000

Capital Assets: Land

4,500

3,792,303 507,746 831,954

- - - - - - - - - - - - -

3,796,803 507,746 6,589,718 1,368,569

221,876

Right of Way

-

-

Construction in Progress

5,757,764 1,368,569 60,355,936

2,556,289

Line Rights Infrastructure

-

-

69,877,569

130,233,505

4,981,670 32,836,524 19,044,193

Buildings

-

-

-

Machinery and Equipment

2,537,009

1,638,428

4,175,437

Leased Equipment

- -

- -

- -

163,832 185,680

Software Based Technology Information Assets (SBITA)

Total Cost

70,023,778 (19,947,682) 50,076,096 50,182,799

76,648,000 (19,085,976) 57,562,024 60,618,888

146,671,778 (39,033,658) 107,638,120 110,801,687

59,990,064 (28,168,991) 31,821,073 31,871,073

Less Accumulated Depreciation and Amortization

Net Capital Assets

Total Noncurrent Assets

Total Assets

57,300,800

72,947,996

(101)

130,248,695

57,895,158

Deferred Outflows of Resources Deferred Outflows of Resources Related to Pensions Deferred Outflows of Resources Related to OPEB

72,696 9,148

84,119 9,148

- -

156,815 18,296

- -

81,844

93,267

-

175,111

-

Total Deferred Outflows of Resources

Total Assets and Deferred Outflows of Resources

$ 57,382,644

$ 73,041,263

$

(101)

$ 130,423,806

$ 57,895,158

LIABILITIES AND NET POSITION Current Liabilities Accounts Payable

$

332,239

$

26,434

$

-

$

358,673 15,653 225,091 28,557

$

1,180,992

Due to Other Funds

-

-

15,653

- -

Due to Other Governments Current Compensated Absences

197,347 16,128

27,744 12,429

- - - - -

1,325,860

Current Lease Liability Current SBITA Liability Current OPEB Liability

- -

- -

- -

50,051 71,804

2,238

2,238 68,845

4,476

-

Total Current Liabilities

547,952

15,653

632,450

2,628,707

Noncurrent Liabilities

Advance from Other Funds Compensated Absences

-

-

106,703

106,703 34,903

990,000 1,620,495

19,713

15,190

- - - - -

Lease Liability SBITA Liability OPEB Liability

- -

- -

- -

75,431 35,239

36,005 249,297 305,015 852,967

36,005 288,472 339,667 408,512

72,010 537,769 751,385

- -

Net Pension Liability

Total Noncurrent Liabilities

106,703 122,356

2,721,165 5,349,872

1,383,835

Total Liabilities

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

96,980 28,678

112,220 28,678

- -

209,200 57,356

- -

125,658

140,898

-

266,556

-

Total Deferred Inflows of Resources

Net Position

Investment in Capital Assets

50,076,096 6,327,923 56,404,019

57,562,024 14,929,829 72,491,853

-

107,638,120 21,135,295 128,773,415

31,588,548 20,956,738 52,545,286

Unrestricted

(122,457) (122,457)

Total Net Position

Total Liabilities, Deferred Inflows of Resources and Net Position

$ 57,382,644

$ 73,041,263

$

(101)

$ 57,895,158

Adjustment to Reflect the Consolidation of Internal Service Fund Activity Related to Enterprise Funds (See Note 2c)

772,563

Total Business-Type Activities Net Position

$ 129,545,978

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

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