2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years

2015

2016

2017

2018

REVENUES: Taxes

$ 17,225,535

$ 18,549,468 21,476,591 $

$ 22,999,326

Special Assessments Licenses and Permits Intergovernmental Charges for Service Fines and Forfeits

1,157,405 2,989,038 5,413,650 2,493,325

1,615,161 3,146,818 5,730,576 2,648,478

933,773

984,158

3,283,495 4,695,847 3,433,660

4,361,054 5,028,349 4,410,024

171,856 604,816

104,943 877,108

241,874

95,821 589,865

Miscellaneous

1,004,665

Total Revenues

30,055,625

32,672,552 35,069,905

38,468,597

EXPENDITURES: General Government

3,864,337 10,209,739 3,036,284 3,891,542

4,016,871

4,415,257

5,047,823 11,692,533 5,634,985 3,598,591

Police

10,643,342 11,039,220

Public Works

3,061,172 4,269,211

2,973,840 5,228,929

Culture and Recreation

Conservation and Natural Resources

-

-

-

89,488

Economic Development

2,352,621

2,092,337

1,611,073

2,848,426

Debt Service: Principal

5,615,000

1,685,000

1,685,000 1,259,987

1,995,000 1,171,990 5,928,038 38,006,874

Interest and Other Charges

365,898

864,494

Capital Outlay

5,461,607 34,797,028

32,159,412 18,386,260 58,791,839 46,599,566

Total Expenditures

Excess of Revenues Under Expenditures

(4,741,403)

(26,119,287)

(11,529,661)

461,723

OTHER FINANCING SOURCES (USES): Bonds Issued

- - - - -

29,500,000

-

- - - - -

Sale of Assets

9,134

104,661

Premium on Bonds Issued

2,237,727

- -

SBITA Issued Lease Issued Transfers In Transfers Out Special Items

- -

79,100

6,135,344 (5,145,452) (634,070)

6,916,355 (3,378,977)

7,282,929 (4,794,939)

4,038,516 (3,132,036)

-

-

-

Total Other Financing Sources (Uses)

355,822

35,284,239

2,671,751

906,480

Net Change in Fund Balance

$ (4,385,581)

$ 9,164,952

$ (8,857,910)

$ 1,368,203

Debt Service as a Percentage of Noncapital Expenditures

20%

9%

10%

9%

In 2018 the City reported Conservation and Natural Resources separately from Culture and Recreation. Prior years have not been restated. In 2020 the City reported Conservation and Natural Resources as part of Public Works.

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