2025 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2025

NOTE 12 – ADVANCE FROM/TO OTHER FUNDS

The composition of advance from/to other funds as of December 31, 2025 is as follows:

Receivable Fund

Nonmajor Governmental Funds Payable Fund

Amount

(1) (3) (2) (4) (5) (6)

General Fund

$

3,739,061 4,056,806 1,543,117

Economic Development Authority

TIF District No. 18 Canterbury Commons TIF District No. 18 Canterbury Commons

Capital Improvement Fund

Storm Drainage Fund General Fund Storm Drainage Fund

Internal Service Fund

770,000

Nonmajor Governmental Funds Nonmajor Governmental Funds

330,598 1,813,012

Total

$

12,252,594

The advance related to the TIF District No. 20 Old City Hall agreement (Enclave). This will be repaid over 25 years with Tax Increment Financing at a rate of 4% interest. The advance is a long term interfund loan which was used as a financing source related to the building of the new City hall building. This will be repaid over 15 years with rent collection at rate of 1.25% interest. (5) The advance related to the TIF District No. 20 Old City Hall agreement (Enclave). This will be repaid over 25 years with Tax Increment Financing at a rate of 3% interest. The advance represents a long term interfund loan related to the TIF District No. 18 Canterbury agreement to be repaid over 25 years with Tax Increment Financing at a rate of 4% interest. (6) (3) (4) The advance represents a long term interfund loan related to the TIF District No. 19 Riverfront agreement to be repaid over 25 years with Tax Increment Financing at a rate of 4% interest. (2) The advance represents a long term interfund loan related to the TIF District No. 18 Canterbury agreement to be repaid over 25 years with Tax Increment Financing at a rate of 5% interest. (1)

80