2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

COMBINING STATEMENT OF NET POSITION - INTERNAL SERVICE FUNDS December 31, 2024

Information and Technology Self Insurance

Employee Benefits

Equipment

Buildings

Park Asset

Total

ASSETS Current Assets Cash and Investments, Including Cash Equivalents

$ 7,439,896

$ 4,133,805

$ 2,291,326

$ 2,281,873

$ 1,140,595

$ 3,731,820

$ 21,019,315

Accounts Receivable Interest Receivable Prepaid Expenses

-

17,963 25,269

-

-

-

20,539 25,941 229,841

38,502 145,856 247,761

51,204

16,627

18,896

7,919

-

-

-

-

17,920

Total Current Assets

7,491,100

4,177,037

2,307,953

2,300,769

1,166,434

4,008,141

21,451,434

Noncurrent Assets Capital Assets: Land

-

-

221,876 210,037

- - - - - -

- -

- - - - - -

221,876

Construction in Progress

1,466,328

9,347,146

11,023,511 4,981,670 32,854,778 20,805,624

Infrastructure

- -

373,982

4,547,657 3,401,304 5,303,132

60,031

Buildings

29,453,474 1,362,550

-

Machinery and Equipment

13,771,783

368,159

Lease Equipment

163,832

-

-

-

163,832

Subscription-Based Technology Information Assets (SBITA)

-

-

-

- -

512,626 940,816

- -

512,626

Total Cost

15,401,943

40,537,152

13,684,006

70,563,917

Less Accumulated Depreciation and Amortization

(7,217,993) 8,183,950 8,183,950

(15,129,311) 25,407,841 25,407,841

(6,942,960) 6,741,046 6,741,046

- - -

(404,681)

- - -

(29,694,945) 40,868,972 40,868,972

Net Capital Assets

536,135 536,135

Total Noncurrent Assets

Total Assets

$ 15,675,050

$ 29,584,878

$ 9,048,999

$ 2,300,769

$ 1,702,569

$ 4,008,141

$ 62,320,406

LIABILITIES AND NET POSITION Current Liabilities Accounts Payable

$ 188,968

$ 597,645

$

19,851

$

- -

$

37,010

$

58,478

$ 901,952

Due to Other Governments Current Compensated Absences

- -

- - - -

- - - -

258

- - - -

258

1,624,088

- -

1,624,088

Current Lease Liability Current SBITA Liability

24,055

- -

24,055 97,191

-

97,191 134,459

Total Current Liabilities

213,023

597,645

19,851

1,624,088

58,478

2,647,544

Noncurrent Liabilities

Advance from Other Funds Compensated Absences

- -

880,000

- - - - -

-

- - -

- - - - -

880,000

- - -

1,984,997

1,984,997

Lease Liability SBITA Liability

51,376

- -

51,376 118,494

-

118,494 118,494 252,953

Total Noncurrent Liabilities

51,376 264,399

880,000

1,984,997 3,609,085

3,034,867 5,682,411

Total Liabilities

1,477,645

19,851

58,478

Net Position Net Investment in Capital Assets

7,919,551 7,491,100 15,410,651

24,810,196 3,297,037 28,107,233

6,721,935 2,307,213 9,029,148

-

320,450

-

39,772,132 16,865,863 56,637,995

Unrestricted

(1,308,316) (1,308,316)

1,129,166 1,449,616

3,949,663 3,949,663

Total Net Position

Total Liabilities and Net Position

$ 15,675,050

$ 29,584,878

$ 9,048,999

$ 2,300,769

$ 1,702,569

$ 4,008,141

$ 62,320,406

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