2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2024

TABLE OF CONTENTS (CONTINUED)

SECTION II (Continued)

FINANCIAL SECTION

Required Supplementary Information:

Schedule of Changes in the City’s OPEB Liability and Related Ratios..................... Schedule of Component Unit Contributions General Employees Retirement Fund .. Notes to Required Supplementary Information.......................................................... Schedule of City Contributions General Employees Retirement Fund ...................... Schedule of City Contributions Public Employees Police and Fire Retirement Fund General Employees Retirement Fund...................................................................... Employees Police and Fire Retirement Fund........................................................... Schedule of Component Units' Proportionate Share of Net Pension Liability Schedule of City's Proportionate Share of Net Pension Liability Public Employees Retirement Fund.................................................................................... Schedule of City's Proportionate Share of Net Pension Liability General

108

109

114 113 116 111 112 110

Supplementary Information: Schedule of Revenues, Expenditures and Changes in Fund Balance –

Budget and Actual – General Fund..........................................................................

126

Combining and Individual Fund Financial Statements and Schedules:

Combining Balance Sheet – Nonmajor Governmental Funds............................... Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds....................................................... Combining Statement of Net Position – Internal Service Funds........................... Combining Statement of Revenues, Expenses and Changes in Net Position – Internal Service Funds....................................................................... Combining Statement of Cash Flows – Internal Service Funds............................

128

134 140

142 141