2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

STATEMENT OF NET POSITION December 31, 2018

Governmental Activities

Business-Type Activities

Total

Component Unit

ASSETS AND DEFERRED OUTFLOWS OF RESOURCES Assets Cash and Investments (Including Cash Equivalents)

$

35,442,257

$

21,622,027

$

57,064,284

$

40,677,941 16,493,139

Restricted Cash and Investments

-

- -

-

Property Tax Receivable

102,861 536,623 147,855 886,306 43,171 268,300 3,895,307 1,407,313 (1,540,000) 1,976,250

102,861 567,903 229,756

-

Accounts Receivable (Net of Allowance for Uncollectible Accounts)

31,280 81,901 563,828 211,934

5,386,492

Interest Receivable

69,946 146,249

Due From Other Governments Special Assessments Receivable

1,450,134 4,107,241

-

Inventories

5,772 1,346

48,943 269,646

1,242,948

Prepaid Expenses Land Held for Resale

67,199

-

1,407,313

- - -

Advances from Other Funds (Internal Balances)

1,540,000

-

Net Pension Asset

-

1,976,250

Capital Assets, Net of Accumulated Depreciation (Where Applicable): Land and Land Improvements

21,898,060 253,904 2,015,091

3,796,803 507,746 140,271 742,542 71,984,333

25,694,863 761,650 2,155,362 742,542 146,111,357

5,097,532

Right of Way

-

Construction in Progress

1,392,864

- -

Line Rights Infrastructure Plant in Service

-

74,127,024

-

- -

-

86,528,180

Buildings

58,942,201 14,857,861

58,942,201 16,328,592

- -

Machinery and Equipment

1,470,731

215,260,384

102,700,514

317,960,898

157,102,490

Total Assets

Deferred Outflows of Resources Deferred Outflows of Resources Related to Pensions Deferred Outflows of Resources Related to OPEB

8,775,796 153,641

116,280

8,892,076 160,859

705,371

7,218

-

8,929,437

123,498

9,052,935

705,371

Total Deferred Outflows of Resources

$

224,189,821

$

102,824,012

$

327,013,833

$

157,807,861

Total Assets and Deferred Outflows of Resources

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION Liabilities Accounts and Contracts Payable

$

923,177

$

285,264

$

1,208,441

$

3,512,373 428,893 1,047,763

Other Current Liabilities Due to Other Governments Salaries and Benefits Payable

-

-

-

334,177 422,326 464,291 195,522 -

108,703

442,880 422,326 464,291 195,522 -

- - - - - - - - -

-

Deposits Payable Interest Payable Unearned Revenue Customer Advances

2,462,355

-

3,447

-

-

850,355

Bond Principal Payable, Net: Payable Within One Year Payable After One Year

1,910,000 32,352,746

1,910,000 32,352,746

- - - - - -

Capital Lease Payable

Payable Within One Year Payable After One Year

19,927 26,615

19,927 26,615

Compensated Absences Payable: Payable Within One Year

1,074,681 1,313,498

30,634 37,443

1,105,315 1,350,941

Payable After One Year

Net Other Post Employment Benefits (OPEB) Obligation: Payable After One Year

2,118,553

99,530

2,218,083

-

Net Pension Liability:

Payable After One Year

10,431,892

492,305

10,924,197

3,578,196

Total Liabilities

51,587,405

1,053,879

52,641,284

11,883,382

Deferred Inflows of Resources Deferred Inflows of Resources Related to Pensions

11,559,062

128,576

11,687,638

885,539

63,146,467

1,182,455

64,328,922

12,768,921

Total Liabilities and Deferred Inflows of Resources

Net Position

Net Investment in Capital Assets

137,799,457

78,642,426

216,441,883

93,018,576

Restricted for:

- - - - - - -

SCDP Grant

18,368 73,004 199,123

- - - -

18,368 73,004 199,123

Revolving Loan

Forfeiture

Debt Service

3,694,341

3,694,341

Componet Units Water and Electric

-

-

13,930,784

Capital Improvements

3,151,698 16,107,363

3,151,698 39,106,494

-

Unrestricted

22,999,131

38,089,580

Total Net Position

161,043,354

101,641,557

262,684,911

145,038,940

Total Liabilities, Deferred Inflows of Resources and Net Position

$

224,189,821

$

102,824,012

$

327,013,833

$

157,807,861

28

The Notes to the Financial Statements are an integral part of this statement.