2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - PROPRIETARY FUNDS For the Year Ended December 31, 2023

Business-Type Activities - Enterprise Funds

Governmental Activities - Internal Service Funds

Sewer

Storm Drainage

Refuse

Total

OPERATING REVENUES Charges for Services

$ 5,141,391

$

1,372,796

$

90,000

$

6,604,187

$

-

Rental Charges Other Charges

2,646 2,134

-

- - -

2,646 82,859 3,734

5,167,168

80,725 3,734

5,431

Special Assessments

-

-

Total Operating Revenues

5,146,171

1,457,255

90,000

6,693,426

5,172,599

OPERATING EXPENSES Salaries and Benefits Professional Services Sewer Disposal Charges Repairs and Maintenance Materials and Supplies Depreciation

571,936 976,276 175,203 40,308 73,738 31,600 45,300 35,869 2,651,598 4,601,828

627,234 1,143,079 146,600

- - - - - - - - - -

1,199,170 2,119,355 321,803 2,651,598 136,574 149,056

-

2,143,130

95,135

-

-

96,266 75,318 22,700 9,400 20,538

128,126 461,486

Rent

54,300 54,700 56,407

-

Insurance Utilities

857,718

-

Total Operating Expenses

2,141,135

6,742,963

3,685,595

Operating Income (Loss)

544,343

(683,880)

90,000

(49,537)

1,487,004

NONOPERATING REVENUES (EXPENSES) Investment Income

214,771

665,498 81,409

212

880,481 81,409

1,126,681

Grants and Contributions Insurance Dividends

- - - -

- -

-

- -

-

27,053 (15,401) 58,177

Interest Expense

(2,134)

(2,134)

Gain (Loss) on Sale of Asset

3,490

-

3,490

Total Nonoperating Revenues (Expenses) Income before Capital Contributions and Transfers

214,771

750,397

(1,922)

963,246

1,196,510

759,114

66,517

88,078

913,709

2,683,514

Capital Contributions from Special Assessments Capital Contributions from Outside Developers Capital Contributions (to)/from Governmental Funds

21,965

-

- - - - -

21,965

-

2,498,539 (499,550)

2,342,770 711,701

4,841,309 212,151

93,467 38,980

Transfers In Transfers Out

-

-

-

2,940,128 (280,000)

(200,000)

(200,000)

(400,000)

Change in Net Position

2,580,068

2,920,988

88,078

5,589,134

5,476,089

NET POSITION Beginning of Year

53,823,951

69,570,865

(210,535)

123,184,281

47,069,197

End of Year

$ 56,404,019

$ 72,491,853

$ (122,457)

$ 128,773,415

$ 52,545,286

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

72,520

Governmental Activities Contribution Revenue Reported Above Transfers In of Capital Assets from Governmental Activities

(212,151) 212,151

Change in Net Position - Business-Type Activities

$

5,661,654

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

45