2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

CHANGES IN NET POSITION Years 2009 Through 2018

2009

2010

2011

2012

2013

2014

EXPENSES: Governmental Activities: General Government

$

3,388,268 8,528,413 7,860,080 3,859,670 316,566 1,040,044 24,993,041 30,140,842 3,316,102 3,398,117 1,264,261 38,119,322 63,112,363 - -

$

3,042,918 9,123,316 8,397,874 3,765,660

$

4,252,887 9,236,767 7,094,047 3,866,307

$

4,603,027 9,430,785 7,083,299 3,817,677

$

4,704,956 9,868,702 7,578,493 4,020,974

$

5,514,412 10,543,861 10,667,275 4,250,557 1,593,968 453,696 33,023,769 -

Public Safety Public Works

Culture and Recreation

Conservation and Natural Resources

-

-

-

-

Economic Development

427,169 784,824

244,361 619,099

152,541 587,384

338,907 573,949

Other

Total Governmental Activities Expenses

25,541,761

25,313,468

25,674,713

27,085,981

Business-Type Activities: Electric

32,700,410 3,293,079 3,685,417 1,792,749 41,471,655 67,013,416 -

- -

- -

- -

- -

Water Sewer Storm Refuse

3,807,322 1,382,391

3,926,541 1,445,633

4,096,504 1,641,438

3,777,866 1,924,853

-

-

-

-

Total Business-Type Activities Expenses Total Primary Government Expenses

5,189,713 30,503,181

5,372,174 31,046,887

5,737,942 32,823,923

5,702,719 38,726,488

$

$

$

$

$

$

PROGRAM REVENUES: Governmental Activities: Charges for Services: General Government

$

319,066 1,677,772 1,342,173 1,013,044

$

289,390 1,716,573 941,224 1,039,820

$

343,169 1,503,188 478,788 1,071,482

$

2,966,953 1,524,158 454,145 2,222,430

$

2,647,951 1,701,875 688,286 2,012,436

$

2,751,336 1,879,209 693,647 1,827,046

Public Safety Public Works

Culture and Recreation

Conservation and Natural Resources

- -

- -

-

-

-

-

Economic Development

7,100

16,500

18,000

18,000

Operating Grants and Contributions Capital Grants and Contributions Total Governmental Activities Program Revenues

1,485,124 1,241,884

2,943,857 952,450

3,606,089 3,152,881

2,106,559 1,479,343

1,894,436 689,424

2,880,493 6,668,531

7,079,063

7,883,314

10,162,697

10,770,088

9,652,408

16,718,262

Business-Type Activities: Charges for Services: Electric

34,272,099 3,605,498 3,485,882 1,405,560

36,872,008 4,417,498 3,508,947 1,281,986

- -

- -

- -

- -

Water Sewer Storm Refuse

2,941,753 1,083,878

3,728,189 1,442,394

3,004,826 1,720,653

2,916,192 1,211,793

- -

-

- -

- -

- -

72,167

Operating Grants and Contributions Capital Grants and Contributions

6,415

-

1,879,530

1,661,001

93,810

348,756

7,780

496,655

Total Business-Type Activities Program Revenues Total Primary Government Program Revenues

44,648,569

47,747,855

4,119,441

5,519,339

4,733,259

4,696,807

$

51,727,632

$

55,631,169

$

14,282,138

$

16,289,427

$

14,385,667

$

21,415,069

Net (Expense) Revenue:

Governmental Activities Business-Type Activities

$

(17,913,978) 6,529,247 (11,384,731)

$

(17,658,447) 6,276,200 (11,382,247)

$

(15,150,771) (1,070,272) (16,221,043)

$

(14,904,625)

$

(17,433,573) (1,004,683) (18,438,256)

$

(16,305,507) (1,005,912) (17,311,419)

147,165

$

$

$

$

(14,757,460)

$

$

Total Primary Government Net Expense

GENERAL REVENUES AND OTHER CHANGES IN NET POSITION: Governmental Activities: Taxes: Property

$

14,676,518 361,615 151,956 1,323,230

$

14,229,111 363,296 147,561 1,039,867

$

14,487,805 378,011 160,884 1,032,409

$

15,002,764

$

15,795,777

$

16,446,631

Franchise

389,819 113,902 546,681 11,769

399,496 113,796 40,589 256,600

404,312 216,441 727,619 52,674

Other

Unrestricted Investment Earnings Gain on Disposal of Assets

37,162

- -

- -

Special Item

-

-

-

-

Transfers

1,899,577 18,450,058

2,089,406 17,869,241

100,000

100,000

162,490

(419,208)

Total Governmental Activities

16,159,109

16,164,935

16,768,748

17,428,469

Business-Type Activities: Investment Earnings

1,336,979

1,279,872

758,182

423,946

53,431

538,248

Gain on Disposal of Assets

-

-

-

-

-

-

Transfers

(1,899,577) (562,598) 17,887,460

(2,089,406) (809,534) 17,059,707

(100,000) 658,182 16,817,291

(100,000) 323,946 16,488,881

(162,490) (109,059) 16,659,689

419,208 957,456

Total Business-Type Activities Total Primary Government

$

$

$

$

$

$

18,385,925

Change in Net Position: Government Activities

$

536,080 5,966,649 6,502,729

$

210,794 5,466,666 5,677,460

$

1,008,338 (412,090) 596,248

$

1,260,310 471,111 1,731,421

$

(664,825) (1,113,742) (1,778,567)

$

1,122,962 (48,456) 1,074,506

Business-Type Activities

$

$

$

$

$

$

Total Primary Government

From 2009-2010, the SPUC funds, Water and Electric Enterprise Funds, were reported as a blended component unit of the City. In 2011, SPUC Funds have been presented as discretely presented component units as it no longer met the criteria for blending.

The City implemented GASB Statement No. 68 and GASB Statement No. 71 in 2015. Years prior to 2015 have not been restated

In 2018 the City reported Conservation and Natural Resources separately from Culture and Recreation. Prior years have not been restated

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