2025 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2025

NOTE 15 – POSTEMPLOYMENT BENEFITS OTHER THAN PENSIONS (CONTINUED) F. OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB (Continued)

OPEB Expense

Year Ending December 31,

Amount

2026 2027 2028 2029 2030

$

10,723

6,883 5,455

(33,391) (7,013)

Thereafter

182,612

Total

$

165,269

NOTE 16 – FUND BALANCE DETAIL Fund balances are classified as follows to reflect the limitations and restrictions of the respective funds.

Economic Development Authority

Other Governmental Funds

TIF District No. 18 Canterbury Commons

Capital Improvement

General Fund

Total

Nonspendable:

Prepaid Items

$

245,192 36,203 52,011 333,406

$

4,252

$

- - - -

$

- - - -

$

1,147

$

250,591 36,203 52,011 338,805

Inventories

- -

- -

Leases

Total Nonspendable

4,252

1,147

Restricted:

Forfeitures

- - - - - - -

- - - -

- - - - - -

- - - - - - - -

58,004 243,867 358,164

58,004 243,867 358,164

Opioids Settlement Public Safety Fund

DARE

2,035

2,035

Economic Development

4,317,460

4,317,460 3,542,802 5,009,895 13,532,227

Debt Service

- -

3,542,802 4,445,460 8,650,332

Capital Improvements

564,435 564,435

Total Restricted

-

4,317,460

Committed:

Building Permits

1,824,000

-

-

-

-

1,824,000

Assigned:

Fire Department Staffing

550,000

- - - -

- -

- - - -

-

550,000 54,856

Shakopee Government Television

- -

54,856

Capital Improvements

9,759,312 9,759,312

1,290,578 1,345,434

11,049,890 11,654,746

Total Assigned

550,000

Unassigned

23,066,102

-

-

(8,152,219)

(3,798,967)

11,114,916

Total Fund Balance

$

25,773,508

$

4,321,712

$

10,323,747

$

(8,152,219)

$

6,197,946

$ 38,464,694

99