2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - PROPRIETARY FUNDS For the Year Ended December 31, 2024

Business-Type Activities - Enterprise Funds

Governmental Activities - Internal Service Funds

Sewer

Storm Drainage

Refuse

Total

OPERATING REVENUES Charges for Services

$ 5,908,969

$ 1,406,922

$

90,000

$

7,405,891

$

-

Rental Charges Other Charges

2,646 1,067

-

- - -

2,646

5,406,567

76,301

77,368

59,392

Special Assessments

-

3,203

3,203

-

Total Operating Revenues

5,912,682

1,486,426

90,000

7,489,108

5,465,959

OPERATING EXPENSES Salaries and Benefits

419,863

751,618

- - - - - - - - - -

1,171,481 2,189,624 1,032,886 2,627,730

-

Depreciation

1,009,506

1,180,118

2,418,261

Professional Services Sewer Disposal Charges Repairs and Maintenance Materials and Supplies

905,599

127,287

188,244

2,627,730

-

-

33,454 78,301 30,900 33,700 34,968

86,219 77,362 24,925 11,300 16,266

119,673 155,663 55,825 45,000 51,234

80,154 669,411

Rent

-

Insurance

809,933

Utilities

-

Total Operating Expenses

5,174,021

2,275,095

7,449,116

4,166,003

Operating Income (Loss)

738,661

(788,669)

90,000

39,992

1,299,956

NONOPERATING REVENUES (EXPENSES)

Investment Income (Loss) Grants and Contributions Insurance Dividends Interest Expense Gain (Loss) on Sale of Asset

297,066

543,144 114,780

(696)

839,514 114,780

1,088,261

- - -

- -

-

- -

-

80,324

(1,067)

(1,067) (80,207)

(25,305) 372,171

(82,953)

2,746

-

Total Nonoperating Revenues (Expenses)

214,113

660,670

(1,763)

873,020

1,515,451

Income before Capital Contributions and Transfers

952,774

(127,999)

88,237

913,012

2,815,407

Capital Contributions from Special Assessments Capital Contributions from Outside Developers Capital Contributions (to)/from Governmental Funds

42,176

-

- - - - -

42,176

- -

2,122,589

4,142,915 (144,213)

6,265,504 (152,964)

(8,751)

277,302

Transfers In Transfers Out

-

-

-

1,000,000

(200,000)

(200,000)

(400,000)

-

Change in Net Position

2,908,788

3,670,703

88,237

6,667,728

4,092,709

NET POSITION Beginning of Year

56,404,019

72,491,853

(122,457)

128,773,415

52,545,286

End of Year

$ 59,312,807

$ 76,162,556

$

(34,220)

$ 135,441,143

$ 56,637,995

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

68,031

Governmental Activities Contribution Revenue Reported Above Transfers In of Capital Assets from Governmental Activities

152,964

(152,964)

Change in Net Position - Business-Type Activities

$

6,735,759

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

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