2025 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS Last Ten Fiscal Years

2016

2017

2018

2019

REVENUES: Taxes

$ 18,549,468

$ 21,476,591 22,999,326 $

$ 23,139,620

Special Assessments Licenses and Permits Intergovernmental Charges for Service Fines and Forfeits

1,615,161 3,146,818 5,730,576 2,648,478

933,773

984,158

835,345

3,283,495 4,695,847 3,433,660

4,361,054 5,028,349 4,410,024

5,912,112 5,358,921 4,906,607

104,943 877,108

241,874

95,821 589,865

83,957

Miscellaneous

1,004,665

1,493,245 41,729,807

Total Revenues

32,672,552

35,069,905 38,468,597

EXPENDITURES: General Government

4,016,871 10,643,342 3,061,172 4,269,211

4,415,257

5,047,823

5,130,038 12,849,532 5,824,268 3,885,624

Police

11,039,220 11,692,533

Public Works

2,973,840 5,228,929

5,634,985 3,598,591

Culture and Recreation

Conservation and Natural Resources

-

-

89,488

169,959

Economic Development

2,092,337

1,611,073

2,848,426

2,510,329

Debt Service: Principal

1,685,000

1,685,000 1,259,987 18,386,260

1,995,000 1,171,990 5,928,038

1,910,000 1,096,743 9,047,340 42,423,833

Interest and Other Charges

864,494

Capital Outlay

32,159,412 58,791,839

Total Expenditures

46,599,566 38,006,874

Excess of Revenues Under Expenditures

(26,119,287)

(11,529,661)

461,723

(694,026)

OTHER FINANCING SOURCES (USES): Bonds Issued

29,500,000

-

- - - - -

4,220,000

Sale of Assets

9,134

104,661

579

Premium on Bonds Issued

2,237,727

- -

267,587

SBITA Issued Lease Issued Transfers In Transfers Out

- -

- -

79,100

6,916,355 (3,378,977)

7,282,929 (4,794,939)

4,038,516 (3,132,036)

1,125,289 (525,289)

Total Other Financing Sources (Uses)

35,284,239

2,671,751

906,480

5,088,166

Net Change in Fund Balance

$ 9,164,952

$ (8,857,910)

$ 1,368,203

$ 4,394,140

Debt Service as a Percentage of Noncapital Expenditures

9%

10%

9%

8%

In 2018 the City reported Conservation and Natural Resources separately from Culture and Recreation. Prior years have not been restated. In 2020 the City reported Conservation and Natural Resources as part of Public Works.

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