2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2024

NOTE 6 – CAPITAL ASSETS

Governmental capital asset activity for the year ended December 31, 2024 was as follows:

Beginning

Balance

Balance Ending

(Restated)

Increases

Decreases

Governmental Activities:

Capital Assets not being Depreciated/Amortized:

Land

$ 25,128,216

$

891,954 123,155

$

- -

$ 26,020,170 1,332,928 18,036,356

Right-Of-Way

10,886,747 1,209,773

Construction in Progress

14,843,834

7,694,225

Total Capital Assets not being

Depreciated/Amortized

37,224,736

15,858,943

7,694,225

45,389,454

Capital Assets being Depreciated/

Amortized: Buildings

28,314,146 206,082,366 74,109,424

4,025,386 9,453,054 3,433,748

49,016

77,494,156 215,535,420 31,062,543

Infrastructure

-

Machinery and Equipment

1,276,989

Lease Equipment (Intangible Right

to Use Asset)

700,214

36,258

-

736,472

Subscription-Based Information

Technology Software

194,183

440,875

20,716

614,342

Total Capital Assets being Depreciated/Amortized

309,400,333

17,389,321

1,346,721

325,442,933

Less Accumulated Depreciation/

Amortization: Buildings

21,685,299 116,643,404 12,962,179

1,688,378 5,960,216 1,753,133

49,016

122,603,620 23,324,661 13,839,334

Infrastructure

-

Machinery and Equipment

875,978

Lease Equipment (Intangible Right

to Use Asset)

108,700

155,698

-

264,398

Subscription-Based Information

Technology Software Total Accumulated Depreciation/

61,300

194,740

20,716

235,324

Amortization

151,460,882

9,752,165

945,710

160,267,337

Total Capital Assets being Depreciated/

Amortized, Net

157,939,451

7,637,156

401,011

165,175,596

Governmental Activities Capital Assets, Net

$195,164,187

$ 23,496,099

$ 8,095,236

$210,565,050

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