2023 Annual Comprehensive Financial Report

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

NOTE 6 – CAPITAL ASSETS (CONTINUED)

Business-Type Activities: Depreciation expense was charged to functions/programs of the City as follows:

Sanitary Sewer Storm Drainage

$ 976,276 1,143,079

2,119,355

Total Depreciation Expense- Business-Type Activities

Component unit capital asset activity for the year ended December 31, 2023 was as follows:

Beginning Balance

Ending Balance

Increases

Decreases

Subscription-Based Information Technology Software Capital Assets being Depreciated/ Amortized: Distribution General Construction in Progress Total Capital Assets not being Depreciated Component Unit Capital Assets not being Depreciated: Land and Land Rights

$ 6,329,702

14,631,195 $ 2,818,880

$

-

$ 9,148,582

7,804,134

13,164,497

9,270,832

14,133,836

17,450,075

13,164,497

18,419,414

20,432,305 143,330,732

16,453,004

372,531 1,341,970

20,653,332 158,441,766

593,558

-

622,787

-

622,787

Total Capital Assets being Depreciated

163,763,037

17,669,349

1,714,501

179,717,885

Less Accumulated Depreciation/ Amortization:

62,582,477

6,609,562

811,046

68,380,993

Governmental Activities Capital Assets, Net Total Capital Assets being Depreciated/Amortized, Net

101,180,560

11,059,787

903,455

111,336,892

$115,314,396

$ 28,509,862

$ 14,067,952

$129,756,306

Electric Depreciation expense was charged to functions/programs of the Component Unit as follows: Component Units: $ 3,495,150

Water

3,114,412

6,609,562

Total Depreciation Expense- Component Unit Activities

77