2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENDITURES AND

For the Year Ended December 31, 2024 BUDGET AND ACTUAL - GENERAL FUND CHANGES IN FUND BALANCES -

Budget Amounts

Variance with Final Budget - Over (Under)

Actual Amounts

Original

Final

REVENUES Taxes

$ 22,569,800

$ 22,569,800

$ 22,730,797

$

160,997

Special Assessments Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Revenues: Investment Income

14,000

14,000

19,709

5,709

3,491,450 4,979,000 4,813,350

3,491,450 5,200,650 4,813,350

5,542,101 6,035,453 5,076,353

2,050,651

834,803 263,003 (28,748)

200

325,200

296,452

325,000 25,000 10,700 18,500

325,000 25,000 10,700 18,500

1,080,528

755,528

Contributions and Donations

31,208

6,208

Rents Other

1,050

(9,650)

163,505

145,005

Total Revenues

36,247,000

36,793,650

40,977,156

4,183,506

EXPENDITURES Current

General Government

6,569,550 17,019,800 8,260,450 5,208,560

6,052,000 18,072,800 8,348,950 5,208,560

5,864,017 18,491,465 7,797,066 5,198,428

(187,983)

Public Safety Public Works

418,665

(551,884) (10,132)

Culture and Recreation

Debt Service: Principal

- -

- -

100,877

100,877

Interest and Other Charges

5,587

5,587

Capital Outlay

General Government

- - - -

- - - -

64,478 100,930

64,478 100,930

Public Safety Public Works

4,683 6,167

4,683 6,167

Culture and Recreation

Total Expenditures

37,058,360

37,682,310

37,633,698 3,343,458

(48,612)

Excess of Revenues Over(Under)

(811,360)

(888,660)

4,232,118

OTHER FINANCING SOURCES (USES) Proceeds from Sale of Capital Asset

- - -

- - -

6,338

6,338

SBITA Issued Lease Issued Transfers In Transfers Out

75,155 36,258 495,553

75,155 36,258

611,360

634,610

(139,057) (2,207,450)

-

(252,550)

(2,460,000)

Total Other Financing Sources (Uses)

611,360

382,060

(1,846,696)

(2,228,756)

Net Change in Fund Balances

$ (200,000)

$ (506,600)

1,496,762

$ 2,003,362

FUND BALANCES Beginning of Year

22,024,478

End of Year

$ 23,521,240

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

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