2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

December 31, 2024 STATEMENT OF NET POSITION - PROPRIETARY FUNDS

Business-Type Activities - Enterprise Funds

Governmental Activities - Internal Service Funds

Sewer

Storm Drainage

Refuse

Total

ASSETS Current Assets

Cash and Investments, Including Cash Equivalents

$

6,165,393

$ 13,343,472

$

- -

$ 19,508,865

$ 21,019,315

Accounts Receivable Interest Receivable

3,299

2,079

5,378

38,502 145,856

41,516

94,695

(236)

135,975

Special Assessment Receivable: Delinquent

-

206

- - - - - -

206

- - - - -

Deferred

1,050,950

2,193

1,053,143

Due from Other Funds

33,984 365,573

-

33,984 456,893

Due from Other Governments

91,320

Inventories

312

2,629

2,941

Prepaid Expenses

-

-

-

247,761

Total Current Assets

7,661,027

13,536,594

(236)

21,197,385

21,451,434

Noncurrent Assets

Advances to Other Funds, Noncurrent

-

2,820,627

-

2,820,627

-

Capital Assets: Land

4,500

3,792,303

- - - - - - - - - - - - -

3,796,803

221,876

Right of Way

-

507,746

507,746

-

Construction in Progress

2,473,016 1,368,569 66,822,570

1,008,299

3,481,315 1,368,569

11,023,511

Line Rights Infrastructure

-

-

74,004,937

140,827,507

4,981,670 32,854,778 20,805,624

Buildings

-

-

-

Machinery and Equipment

2,210,504

1,646,434

3,856,938

Lease Equipment

- -

- -

- -

163,832 512,626

Subscription-Based Technology Information Assets (SBITA)

Total Cost

72,879,159 (20,459,237) 52,419,922 52,419,922

80,959,719 (20,257,714) 60,702,005 63,522,632

153,838,878 (40,716,951) 113,121,927 115,942,554

70,563,917 (29,694,945) 40,868,972 40,868,972

Less Accumulated Depreciation and Amortization

Net Capital Assets

Total Noncurrent Assets

Total Assets

60,080,949

77,059,226

(236)

137,139,939

62,320,406

Deferred Outflows of Resources

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

30,457 31,614

46,781 31,614

- -

77,238 63,228

- -

Total Deferred Outflows of Resources

62,071

78,395

-

140,466

-

Total Assets and Deferred Outflows of Resources

$ 60,143,020

$ 77,137,621

$

(236)

$ 137,280,405

$ 62,320,406

LIABILITIES AND NET POSITION Current Liabilities Accounts Payable

$

186,543

$

463,585

$

-

$

650,128 33,984 307,031 31,424

$

901,952

Due to Other Funds

-

-

33,984

-

Due to Other Governments Current Compensated Absences

276,381 18,941

30,650 12,483

- - - - -

258

1,624,088

Current Lease Liability Current SBITA Liability Current OPEB Liability

- -

- -

- -

24,055 97,191

3,577

3,577

7,154

-

Total Current Liabilities

485,442

510,295

33,984

1,029,721

2,647,544

Noncurrent Liabilities

Advance from Other Funds Compensated Absences

-

-

- - - - - - -

-

880,000

23,149

15,257

38,406

1,984,997

Lease Liability SBITA Liability OPEB Liability

- -

- -

- -

51,376 118,494

59,354 139,363 221,866 707,308

59,354 214,055 288,666 798,961

118,708 353,418 510,532

- -

Net Pension Liability

Total Noncurrent Liabilities

3,034,867 5,682,411

Total Liabilities

33,984

1,540,253

Deferred Inflows of Resources

Deferred Inflows of Resources Related to Pensions Deferred Inflows of Resources Related to OPEB

99,262 23,643

152,461 23,643

- -

251,723 47,286

- -

Total Deferred Inflows of Resources

122,905

176,104

-

299,009

-

Net Position

Net Investment in Capital Assets

52,263,465 7,049,342 59,312,807

60,328,443 15,834,113 76,162,556

-

112,591,908 22,849,235 135,441,143

39,772,132 16,865,863 56,637,995

Unrestricted

(34,220) (34,220)

Total Net Position

Total Liabilities, Deferred Inflows of Resources and Net Position

$ 60,143,020

$ 77,137,621

$

(236)

$ 62,320,406

Adjustment to Reflect the Consolidation of Internal Service Fund Activity Related to Enterprise Funds (See Note 2c)

840,594

Total Business-Type Activities Net Position

$ 136,281,737

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

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