2023 Annual Comprehensive Financial Report

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

NOTE 13 – INTERFUND TRANSFERS

Transfer In

Transfer Out

Governmental Funds:

General Fund (1) (6)

$

9,374,633 - 1,682,557 3,700,000 3,592,076 400,000

$

4,048,650 - - 4,193,812 11,634,761 3,392,299

Economic Development Authority (3) (4)

Capital Improvement (6)

Other Governmental Funds (2) (4) (5) (6) (7) TIF District No. 18 Canterbury Commons (3) (5)

Total Governmental Funds

Proprietary Funds: Sewer (1)

- - -

400,000 200,000 200,000

Storm Drainage (1)

Total Proprietary Funds

Internal Service Funds:

Park Asset (7) Buildings (2)

2,940,128

-

-

280,000 280,000

Total Internal Service Funds

2,940,128

$ 12,314,761

$ 12,314,761

Total

(6) (5) (1) (2) (3) (4)

Annual transfer to finance General Fund.

Local projects fund was closed to the Buildings Internal Service Fund for the SandVenture improvements. Transfer from the Pooled TIF Fund following the TIF spending plan for the River City Centre improvements. Transfer of available fund balance for future capital projects and future debt service payment on 2022A Improvement Bonds. Transfer for Huber and Lions park playground costs for existing park feature replacement. Transfer of River City Centre project for future increment. Transfer of increment for debt service payment on tax increment bond.

(7)

85