2025 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2025

TABLE OF CONTENTS (CONTINUED)

SECTION II (Continued)

FINANCIAL SECTION

Required Supplementary Information:

Notes to Required Supplementary Information.......................................................... Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – Economic Development Authority Special Revenue Fund..... General Employees Retirement Fund...................................................................... Employees Police and Fire Retirement Fund........................................................... Schedule of Component Units' Proportionate Share of Net Pension Liability Schedule of City's Proportionate Share of Net Pension Liability Public Employees Retirement Fund.................................................................................... Schedule of City Contributions General Employees Retirement Fund ...................... Schedule of City Contributions Public Employees Police and Fire Retirement Fund Schedule of Component Unit Contributions General Employees Retirement Fund .. Schedule of Changes in the City’s OPEB Liability and Related Ratios..................... Schedule of Revenues, Expenditures and Changes in Fund Balances – Schedule of City's Proportionate Share of Net Pension Liability General Budget and Actual – General Fund..........................................................................

106

107

108 109 110 111 112

114

116 115

Supplementary Information: Schedule of Revenues, Expenditures and Changes in Fund Balance –

Budget and Actual – General Fund..........................................................................

126

Combining and Individual Fund Financial Statements and Schedules:

Combining Balance Sheet – Nonmajor Governmental Funds............................... Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds....................................................... Combining Statement of Net Position – Internal Service Funds...........................

128

134 140

Combining Statement of Revenues, Expenses and Changes in Net

Position – Internal Service Funds....................................................................... Combining Statement of Cash Flows – Internal Service Funds............................

141 142