2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

STATEMENT OF NET POSITION December 31, 2024

Primary Government

Component Unit Shakopee Public Utility

Governmental Activities

Business-Type Activities

Total

ASSETS AND DEFERRED OUTFLOWS OF RESOURCES Assets Cash and Investments (Including Cash Equivalents)

$

69,966,766

$

20,349,459

$

90,316,225

$

67,372,717 18,341,693

Restricted Cash and Investments

-

- -

-

Property Tax Receivable

100,777

100,777

-

Accounts Receivable (Net of Allowance for Uncollectible Accounts)

1,551,418

5,378

1,556,796

6,779,207

Interest Receivable

464,666

135,975 456,893

600,641

443,756 307,970

Due From Other Governments Special Assessments Receivable

2,238,796 1,377,262 2,343,853

2,695,689 2,430,611 2,343,853

1,053,349

-

Lease Receivable

-

2,229,418 2,903,550

Inventories

35,999 510,998 200,000 106,627

2,941

38,940 510,998 200,000 106,627

Prepaid Expenses Notes Receivable Land Held for Resale

- - -

117,262

- - -

Advances from Other Funds (Internal Balances) Capital Assets, Net of Accumulated Depreciation and Amortization (Where Applicable): Land and Land Improvements

(2,820,627)

2,820,627

-

26,020,170 1,332,928 18,036,356 92,931,800 54,169,495 17,223,209 -

3,796,803

29,816,973 1,840,674 21,517,671 195,989,692 54,169,495 18,907,374 594,006

9,148,582

Right of Way

507,746

-

Construction in Progress

3,481,315

5,993,408

Line Rights Infrastructure

594,006

-

103,057,892

95,503,190

Buildings

-

-

Machinery and Equipment

1,684,165

35,127,919 1,673,082

Subscription-Based Information Technology Asset Lease Equipment (Intangible Right to Use Asset)

379,018 472,074

- -

379,018 472,074

-

286,641,585

137,946,549

424,588,134

245,941,754

Total Assets

Deferred Outflows of Resources

Deferred Outflows of Resources Related to Pensions Deferred Outflows of Resources Related to OPEB

11,705,176 1,544,565

77,238 63,228

11,782,414 1,607,793

658,566

-

13,249,741

140,466

13,390,207

658,566

Total Deferred Outflows of Resources

$

299,891,326

$

138,087,015

$

437,978,341

$

246,600,320

Total Assets and Deferred Outflows of Resources

The Notes to the Financial Statements are an integral part of this statement.

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