2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

COMBINING STATEMENT OF CASH FLOWS - INTERNAL SERVICE FUNDS For the Year Ended December 31, 2024

Information and Technology Self Insurance

Employee Benefits

Equipment

Buildings

Park Asset

Total

CASH FLOWS - OPERATING ACTIVITIES Receipts from Customers and Users

$ 1,579,300

$ 1,380,537

$ 659,100

$

-

$ 652,708

$ 1,156,520

$ 5,428,165

Receipts from Interfund Services

-

-

-

662,730

-

-

662,730

Payments to Suppliers

(485,267)

(899,233)

(89,241)

-

(477,611)

(830,501)

(2,781,853)

Net Cash Flows - Operating Activities

1,094,033

481,304

569,859

662,730

175,097

326,019

3,309,042

CASH FLOWS - NONCAPITAL FINANCING ACTIVITIES Payment Paid on Interfund Loan Interest Paid on Interfund Loan

- - - -

(60,000) (12,375)

- - - -

- - - -

- - - -

- -

(60,000) (12,375)

Insurance Dividends

-

80,324

80,324

Transfer from Other Funds

1,000,000

-

1,000,000

Net Cash Flows - Noncapital Financing Activities

-

927,625

-

-

-

80,324

1,007,949

CASH FLOWS - CAPITAL AND RELATED FINANCING ACTIVITIES Principal paid on Leases and SBITA Proceeds from Disposal of Capital Assets

(47,023) 771,261

- -

- -

- - -

(228,102)

- -

(275,125)

-

771,261

Acquisition of Capital Assets

(2,705,375)

(7,266,901)

(382,982)

(61,336)

(49,726)

(10,466,320)

Net Cash Flows - Capital and Related Financing Activities

(1,981,137)

(7,266,901)

(382,982)

-

(289,438)

(49,726)

(9,970,184)

CASH FLOWS - INVESTING ACTIVITIES Interest Received (Loss)

346,779

420,048

98,437

53,622

57,969

135,191

1,112,046

Net Cash Flows - Investing Activities

346,779

420,048

98,437

53,622

57,969

135,191

1,112,046

(540,325)

(5,437,924)

285,314

716,352

(56,372)

491,808

(4,541,147)

Net Change in Cash and Cash Equivalents

CASH AND CASH EQUIVALENTS Beginning of Year

7,980,221

9,571,729

2,006,012

1,565,521

1,196,967

3,240,012

25,560,462

$ 7,439,896

$ 4,133,805

$ 2,291,326

$ 2,281,873

$ 1,140,595

$ 3,731,820

$ 21,019,315

End of Year

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH FLOWS - OPERATING ACTIVITIES Operating Income (Loss) Adjustments to Reconcile Operating Income (Loss) to Net Cash Flows - Operating Activities:

$

478,292

$ 535,233

$ 140,665

$

-

$ (155,421)

$ 301,187

$ 1,299,956

Depreciation/Amortization Expense

943,569

785,542

445,919

-

243,231

-

2,418,261

Changes in:

Accounts Receivable

- -

(17,963)

- -

- - - -

708 258

(20,539)

(37,794)

Due to Other Governments Accounts and Contracts Payable

-

-

258

(327,828)

(821,508)

(16,725)

25,389 60,932

55,908

(1,084,764)

Prepaid Expenses

- -

- -

- -

(10,537)

50,395 662,730

Compensated Absences Payable

662,730 662,730

-

-

Total Adjustments

615,741

(53,929)

429,194

330,518

24,832

2,009,086

Net Cash Flows - Operating Activities

$ 1,094,033

$ 481,304

$ 569,859

$ 662,730

$ 175,097

$ 326,019

$ 3,309,042

NONCASH INVESTING, CAPITAL AND FINANCING ACTIVITIES Transfer of Capital Assets

$

149,101

$ 160,905

$

-

$

-

$

-

$

(49,726)

$

260,280

Transfer of Lease Asset Transfer of SBITA Asset

(7,022)

- -

- -

- - - - -

-

- - -

(7,022) (10,000) 805,724 365,720 (365,720)

-

(10,000)

Acquisition of Capital Assets on Account Issuance of SBITA Right-to-use Assets

188,968

597,645

19,111

- - -

- -

- -

- -

365,720

Issuance of SBITA Liability

(365,720)

142