2025 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

Table 11

DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT December 31, 2025

Percentage Applicable

Amount

Applicable To City of Shakopee

Long-Term To City of

Debt

Shakopee (1)

Direct Debt: City of Shakopee

$ 41,462,675

100.0% 41,462,675 $

Overlapping Debt: Independent School District No. 720 Independent School District No. 191

107,629,567 89,550,000 87,970,000 235,750,000 520,899,567

97.8% 105,246,875 5.6% 5,010,715 33.1% 29,117,353 1.7% 3,938,351

Scott County

Metropolitan Council (2) Total Overlapping Debt:

143,313,294

Total Direct and Overlapping Debt

$ 562,362,242

$ 184,775,969

Source: Scott County and Dakota County Taxation Department Metropolitan Council

Note: Overlapping governments are those that coincide, at least in part, with geographic boundaries of the City. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the City. This process recognizes that, when considering the City's ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt of each government. (1) The percentage of overlapping debt is estimated using net tax capacity. Applicable percentages were estimated by determining the portion of net tax capacity that is within the City's boundaries and dividing it by total net tax capacity for each entity.

(2) Excludes general obligation debt supported by wastewater revenues and housing rental payments. Includes certificates of participation, leases and subscription liabilites.

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