2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - ECONOMIC DEVELOPMENT AUTHORITY For the Year Ended December 31, 2024

Variance with Final Budget - Over (Under)

Budget Amounts

Actual Amounts

Original

Final

REVENUES Taxes

$ 500,000

$ 500,000

$ 499,024

$

(976)

Charges for Services

747,000

747,000

798,869

51,869

Miscellaneous Revenues: Investment Income

1,000

1,000

151,896 156,971

150,896 156,971 358,760

Other

-

-

Total Revenues

1,248,000

1,248,000

1,606,760

EXPENDITURES Current

Economic Development

861,450

861,450

766,575

(94,875)

Capital Outlay

Economic Development

150,000

150,000

265,604

115,604 20,729

Total Expenditures

1,011,450

1,011,450

1,032,179

Excess of Revenues Over Expenditures

236,550

236,550

574,581

338,031

OTHER FINANCING SOURCES/ (USES) Transfers In

- -

-

421,106 (23,250)

421,106

Transfers Out

(23,250)

-

Total Other Financing Sources (Uses)

-

(23,250)

397,856

421,106

Net Change in Fund Balances

$ 236,550

$ 213,300

972,437

$ 759,137

FUND BALANCES Beginning of Year

2,412,552

End of Year

$ 3,384,989

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

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