2023 Annual Comprehensive Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2023

NOTE 4 – DEPOSITS AND INVESTMENTS (CONTINUED)

B. Investments (Continued)

Publicly traded assets are valued in accordance with market quotation or valuation methods from services believed by our broker to be reliable. Assets, which are not publicly traded, may reflect values from other external sources or special valuations prepared by our broker. Assets for which a current value is not available may be reflected as not valued, at par value, or at a nominal value of $1.00. The following is a summary of total deposits and investments as of December 31, 2023:

City Deposits

$

17,200,555 96,330,562 63,488,208 3,299,451

Component Unit Deposits

City Investments

Component Unit Petty Cash Component Unit Investments City Petty Cash Total Deposits and Investments

1,600 3,772

$ 180,324,148

Deposits and investments are presented in the December 31, 2023 basic financial statements as follows:

Primary

Fiduciary

Component

Government

Funds

Unit

Total

Cash and Investments Statement of Net Position:

$ 157,120,876

$ 97,554,732

$

565,070

$ 59,001,074

Restricted Cash and Investments

1,513,983

-

21,689,289

23,203,272

Total

$

565,070

$ 80,690,363

$ 180,324,148

$ 99,068,715

NOTE 5 – RECEIVABLES/UNAVAILABLE REVENUE

A. Taxes, Assessments, Notes Receivable, Intergovernmental Revenue

Governmental funds report unavailable revenue in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection with resources that have been received, but not yet earned. At the end of the current year, the various components of unavailable revenue reported in the governmental funds were as follows:

Delinquent

Delinquent

Deferred Special

Property

Special

Intergovernmental

Taxes

Assessments

Assessments

Revenue

Total

General Fund

$

141,543

$

3,915

$

16,483

$

- -

$ 161,941

Economic Development Authority

2,915

-

-

2,915

Capital Improvement

- -

2,434

1,108,425

445,470

1,556,329

Nonmajor Funds

26

757,427

-

757,453

Total

$

144,458

$

6,375

$

1,882,335

$

445,470

$ 2,478,638

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