2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2024

NOTE 6 – CAPITAL ASSETS (CONTINUED)

Depreciation/amortization expense was charged to functions/programs of the City as follows:

Governmental Activities: General Government Public Safety Public Works Parks and Recreation Economic Development

886,412 $ 531,980

2,117,326 6,152,200

64,247 $ 9,752,165

Total Depreciation/Amortization Expense- Governmental Activities

Business-type capital asset activity for the year ended December 31, 2024 was as follows:

Beginning

Ending Balance

Balance

Increases

Decreases

Business-Type Activities:

Capital Assets not being

Depreciated:

Land

$ 3,796,803

$

- -

$

- -

$ 3,796,803

Right-Of-Way

507,746

507,746

Construction in Progress

6,589,718

1,243,297

4,351,700

3,481,315

Total Capital Assets

not being Depreciated

10,894,267

1,243,297

4,351,700

7,785,864

Capital Assets being Depreciated:

Line Rights

1,368,569

-

-

1,368,569

Plant in Service

130,233,505

10,798,295

204,293 460,244

140,827,507

Machinery and Equipment

4,175,437

141,745

3,856,938

Total Capital Assets being Depreciated

135,777,511

10,940,040

664,537

146,053,014

Less Accumulated Depreciation for: Line Rights

749,762

24,801

-

774,563

Plant in Service

35,974,721 2,309,175

1,969,069

174,175 332,156

37,769,615 2,172,773

Machinery and Equipment

195,754

Total Accumulated Depreciation

39,033,658

2,189,624

506,331

40,716,951

Total Capital Assets being Depreciated, Net

96,743,853

8,750,416

158,206

105,336,063

Business-Type Activities Capital Assets, Net

$107,638,120

$ 9,993,713

$ 4,509,906

$113,121,927

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