2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - INTERNAL SERVICE FUNDS For the Year Ended December 31, 2024

Information and Technology

Employee Benefits

Self Insurance

Equipment

Buildings

Park Asset

Total

OPERATING REVENUES Rental Charges

$ 1,579,300

$ 1,398,500

$ 659,100

$

- - -

$ 652,000

$ 1,117,667

$ 5,406,567

Other Charges

-

-

-

-

59,392

59,392

Total Operating Revenues

1,579,300

1,398,500

659,100

652,000

1,177,059

5,465,959

OPERATING EXPENSES Depreciation

943,569

785,542 30,312 36,645 10,768

445,919 12,775

- - - - - -

243,231 121,851

-

2,418,261

Professional Services Repairs and Maintenance Materials and Supplies

- -

23,306 42,633

188,244 80,154 669,411 809,933

-

876

157,439

59,741

441,463

-

Insurance

-

-

-

-

809,933 875,872

Total Operating Expenses

1,101,008

863,267

518,435

807,421

4,166,003

Operating Income (Loss)

478,292

535,233

140,665

-

(155,421)

301,187

1,299,956

NONOPERATING REVENUES (EXPENSES) Investment Income

346,558

385,356

100,395

62,200

53,293

140,459 80,324

1,088,261

Insurance Dividends

-

-

- - -

- - -

-

80,324

Interest Expense

(3,994)

(12,375)

(8,936)

- -

(25,305) 372,171

Gain (Loss) on Sale of Asset

372,171

-

-

Total Nonoperating Revenues (Expenses)

714,735

372,981

100,395

62,200

44,357

220,783

1,515,451

Income (Loss) before Capital Contributions and Transfers

1,193,027

908,214

241,060

62,200

(111,064)

521,970

2,815,407

Capital Contributions (to)/from Governmental Funds

156,123

160,905

- -

- -

10,000

(49,726)

277,302

Transfers In

-

1,000,000

-

-

1,000,000

Change in Net Position

1,349,150

2,069,119

241,060

62,200

(101,064)

472,244

4,092,709

NET POSITION Beginning of Year

14,061,501

26,038,114

8,788,088

(1,370,516)

1,550,680

3,477,419 52,545,286

End of Year

$ 15,410,651

$ 28,107,233

$ 9,029,148

$ (1,308,316)

$ 1,449,616

$ 3,949,663 56,637,995 $

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