2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2024

NOTE 4 – DEPOSITS AND INVESTMENTS (CONTINUED)

B. Investments (Continued)

Publicly traded assets are valued in accordance with market quotation or valuation methods from services believed by our broker to be reliable. Assets, which are not publicly traded, may reflect values from other external sources or special valuations prepared by our broker. Assets for which a current value is not available may be reflected as not valued, at par value, or at a nominal value of $1.00.

The following is a summary of total deposits and investments as of December 31, 2024:

City Deposits

$

3,048,748 13,542,181 87,293,896 72,170,229

Component Unit Deposits

City Investments

Component Unit Investments City Petty Cash Component Unit Petty Cash

1,540 2,000

Total Deposits and Investments

$ 176,058,594

Deposits and investments are presented in the December 31, 2024 basic financial statements as follows:

Primary

Fiduciary

Component

Government

Funds

Unit

Total

Statement of Net Position:

Cash and Investments

$ 90,316,225

$

27,959

$ 67,372,717

$

157,716,901 18,341,693

Restricted Cash and Investments

-

-

18,341,693

Total

$ 90,316,225

$

27,959

$ 85,714,410

$

176,058,594

NOTE 5 – RECEIVABLES/UNAVAILABLE REVENUE

A. Taxes, Assessments, Notes Receivable, Intergovernmental Revenue

Governmental funds report unavailable revenue in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection with resources that have been received, but not yet earned. At the end of the current year, the various components of unavailable revenue reported in the governmental funds were as follows:

Delinquent

Delinquent

Deferred

Property

Special

Special

Intergovernmental

Taxes

Assessments

Assessments

Revenue

Total

General Fund

$

98,855

$

2,888

$

21,455

$

- -

$ 123,198

Economic Development Authority

1,922

-

-

1,922

Capital Improvement

- -

108

677,893 666,779

938,733

1,616,734

Nonmajor Funds

8,139

-

674,918

Total

$

100,777

$

11,135

$

1,366,127

$

938,733

$ 2,416,772

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