2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - NONMAJOR GOVERNMENTAL FUNDS (Continued) For the Year Ended December 31, 2024

Debt Service

2020A Tax Increment Bonds

2022A GO Tax Increment Revenue Bond

2022A GO Improvement Bond

Total

REVENUES Taxes

$

- - - - - - - -

$

- - - - - - - -

$

121,500

$ 2,310,500

Tax Increment

-

-

Special Assessments Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures

120,761

120,761

- - - - -

- - - - -

Miscellaneous

Investment Income

8,429 8,429

(11,171) (11,171)

31,126 273,387

56,029

Total Revenues

2,487,290

EXPENDITURES Current

General Government

- - - - -

- - - - -

- - - - -

- - - - -

Public Safety Public Works

Conservation and Natural Resources

Economic Development

Debt Service Principal

425,000 203,300

75,000 176,675

395,000 116,775

2,480,000 1,348,369

Interest and Other Charges

Capital Outlay

-

-

-

-

Total Expenditures

628,300

251,675

511,775

3,828,369

Excess of Revenues Over (Under) Expenditures

(619,871)

(262,846)

(238,388)

(1,341,079)

OTHER FINANCING SOURCES (USES) Transfers In

634,977

493,164

346,000

1,822,769

Transfers Out

-

-

-

-

Total Other Financing Sources (Uses)

634,977

493,164

346,000

1,822,769

Net Change in Fund Balances

15,106

230,318

107,612

481,690

FUND BALANCES Beginning of Year, as Previously Presented

544,712

(90,849)

1,109,376

3,202,245

Change within financial reporting entity (major to nonmajor fund)

-

-

-

-

Beginning of Year, as Adjusted

544,712

(90,849)

1,109,376

3,202,245

End of Year

$

559,818

$

139,469

$ 1,216,988

$ 3,683,935

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