2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

December 31, 2024 BALANCE SHEET - GOVERNMENTAL FUNDS

Special Revenue

Capital Projects

TIF District No. 18 Canterbury Commons

Economic Development Authority

Other Governmental Funds

Total Governmental Funds

Capital Improvement

General Fund

ASSETS

Cash and Investments

$ 29,956,765

$

-

$ 8,496,724

$

- -

$ 11,334,556

$ 49,788,045

Delinquent Taxes Receivable Special Assessments Receivable: Delinquent

98,855

1,922

-

-

100,777

2,888

- -

108

- -

8,139

11,135

Deferred

21,455 406,947 169,781 200,000 393,857

677,893 468,203 66,714

666,779 34,438 63,307

1,366,127 1,512,916

Accounts Receivable Interest Receivable

7,353

595,975

19,008

- - - - - - - -

318,810 200,000

Notes Receivable Lease Receivable

-

- -

- - -

1,949,996

2,343,853

Due from Other Funds

-

-

745,098

745,098

Due from Other Governments

344,380

8,491

1,278,405 2,840,550

107,255

500,265

2,238,796 8,293,233

Advance to Other Funds

1,891,672

3,561,011

- -

Inventories

35,999 259,365

-

- - -

35,999 263,237 106,627

Prepaid Items

695

3,177

Land Held for Resale

-

106,627

-

Total Assets

$ 33,781,964

$ 5,655,103

$ 14,573,695

$

703,230

$ 12,610,661

$ 67,324,653

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES Liabilities Accounts Payable

$

386,209

$

18,802 340,543 37,206

$

348,322

$

368,183 404,555

$ 1,317,717

$ 2,439,233

Due to Other Funds Deposits Payable

-

- -

- -

745,098

7,530,392

-

7,567,598

Due to Other Governments Salaries and Benefits Payable Advance from Other Funds

618,899

- - -

1,736

106,747

311

727,693

1,068,266

- - -

-

-

1,068,266 10,233,860

-

6,401,561

3,832,299

Unearned Revenue

167,553

37,591 434,142

-

-

205,144

Total Liabilities

9,771,319

350,058

7,281,046

5,150,327

22,986,892

Deferred Inflows of Resources

Unavailable Revenue - Property Taxes Unavailable Revenue - Special Assessments Deferred Inflow of Resources Related to Leases Unavailable Revenue- Intergovernmental

98,855 24,343 366,207

1,922

-

- - - - -

-

100,777

-

678,001

674,918

1,377,262 2,200,257

1,834,050

-

- -

-

-

938,733

938,733

Total Deferred Inflows of Resources

489,405

1,835,972

1,616,734

674,918

4,617,029

Fund Balances

Nonspendable

523,014

695

- - -

- - - -

3,177

526,886

Restricted Committed

-

3,384,294

9,496,222

12,880,516 2,225,000 14,165,969 9,922,361 39,720,732

2,225,000

- - -

-

Assigned

440,000

12,606,903

1,119,066 (3,833,049) 6,785,416

Unassigned

20,333,226 23,521,240

-

(6,577,816) (6,577,816)

Total Fund Balances

3,384,989

12,606,903

Total Liabilities, Deferred Inflows of Resources and Fund Balances

$ 33,781,964

$ 5,655,103

$ 14,573,695

$

703,230

$ 12,610,661

$ 67,324,653

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

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