2024 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2024

NOTE 13 – INTERFUND TRANSFERS

Transfer In

Transfer Out

Governmental Funds:

General Fund (1) (2) (3) (6)

$

421,106 495,553

$

2,460,000 23,250

Economic Development Authority (2) (4)

Capital Improvement (6)

3,853,428 - 1,822,769 1,114,000

-

TIF District No. 18 Canterbury Commons (4) (5)

1,897,875

Other Governmental Funds (3) (5) (6)

72,303

Total Governmental Funds

4,453,428

Proprietary Funds: Sewer (1)

- - -

200,000 200,000 400,000

Storm Drainage (1)

Total Proprietary Funds

Internal Service Funds:

Buildings (6)

1,000,000 1,000,000

- -

Total Internal Service Funds

Total

$

4,853,428

$

4,853,428

(6) (1) (2) (3) (4) (5)

Annual transfer to finance General Fund indirect costs.

Transfer Minnesota Historical Society grant funds for archeological investigation

Transfer of Public Safety funds for new patrol officers

Transfer of River City Centre Project costs for reimbursement from future tax increment

Transfer of increment for debt service payment on tax increment bond.

Transfer of available fund balance for future capital projects and future debt service payment on 2022A Improvement Bonds.

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