2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - ECONOMIC DEVELOPMENT AUTHORITY For the Year Ended December 31, 2018

Budget

Variance with Final Budget - Over (Under)

Actual Amounts

Final

Original

REVENUES Taxes

$

350,000

$

350,000 400,000 24,000 2,000 44,300 820,300

$

347,726 400,000 48,000 9,438 58,408 863,572

$

(2,274)

Intergovernmental Charges for Services Miscellaneous Revenues: Investment Income

-

-

6,000

24,000

5,000

7,438 14,108 43,272

Other

-

Total Revenues

361,000

EXPENDITURES Current

Economic Development

354,400

1,497,800

1,264,197

(233,603)

Capital Outlay

Economic Development

-

48,400

151,745 1,415,942

103,345 (130,258)

Total Expenditures

354,400

1,546,200

Excess of Revenues Over (Under) Expenditures

6,600

(725,900)

(552,370)

173,530

OTHER FINANCING SOURCES (USES) Proceeds from Sale of Capital Asset

- - -

1,100,000 186,500

-

(1,100,000)

Transfers In Transfers Out

186,480 (812,170)

(20)

(777,000)

(35,170)

Total Other Financing Sources (Uses)

-

509,500

(625,690)

(1,135,190)

Net Change in Fund Balances

$

6,600

(216,400) $

(1,178,060) $

$

(961,660)

FUND BALANCES Beginning of Year

356,588

End of Year

$

(821,472)

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

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