2025 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2025

NOTE 6 – CAPITAL ASSETS

Governmental capital asset activity for the year ended December 31, 2025 was as follows:

Beginning

Balance

Balance Ending

(Restated)

Increases

Decreases

Governmental Activities:

Capital Assets not being Depreciated/Amortized:

Land

$ 26,020,170

$ 1,907,217

$

- -

$ 27,927,387 1,332,928 11,356,150

Right-Of-Way

18,036,356 1,332,928

-

Construction in Progress

8,018,465

14,698,671

Total Capital Assets not being

Depreciated/Amortized

45,389,454

9,925,682

14,698,671

40,616,465

Capital Assets being Depreciated/ Amortized: Buildings

31,062,543 215,535,420 77,494,156

4,877,109 13,106,623 8,189,404

- -

85,683,560 228,642,043 34,919,263

Infrastructure

Machinery and Equipment

1,020,389

Lease Equipment (Intangible Right

to Use Asset)

736,472

299,716

123,625

912,563

Subscription-Based Information

Technology Software

614,342

274,987

163,098

726,231

Total Capital Assets being Depreciated/Amortized

325,442,933

26,747,839

1,307,112

350,883,660

Less Accumulated Depreciation/

Amortization: Buildings

122,603,620 23,324,661 13,839,334

6,222,512 1,781,448 1,852,427

- -

128,826,132 25,106,109 14,846,409

Infrastructure

Machinery and Equipment

845,352

Lease Equipment (Intangible Right

to Use Asset)

264,398

182,865

123,625

323,638

Subscription-Based Information

Technology Software Total Accumulated Depreciation/

235,324

236,818

163,097

309,045

Amortization

160,267,337

10,276,070

1,132,074

169,411,333

Total Capital Assets being Depreciated/

Amortized, Net

165,175,596

16,471,769

175,038

181,472,327

Governmental Activities Capital

$210,565,050

$ 26,397,451

$ 14,873,709

$222,088,792

Assets, Net

71