2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

December 31, 2018 STATEMENT OF NET POSITION - PROPRIETARY FUNDS

Business-Type Activities - Enterprise Funds

Governmental Activities - Internal Service Funds

Sewer

Storm Drainage

Refuse

Total

ASSETS Current Assets Cash and Investments, Including Cash Equivalents

$

8,139,159

$

13,029,404

$

-

$

21,168,563

$

12,631,283

Accounts Receivable Interest Receivable

1,254 31,802

3,980 50,410

26,046

31,280 81,901

6,704 49,090

(311)

Special Assessment Receivable:

- - - -

Deferred

209,632 80,272 408,162

2,302

- - - - -

211,934 80,272 563,828

Due from Other Funds

-

55,000

Due from Other Governments

155,666

Inventories

139 673

5,633

5,772 1,346

Prepaid Expenses

673

238,887

Total Current Assets

8,871,093

13,248,068

25,735

22,144,896

12,980,964

Noncurrent Assets Advances to Other Funds, Noncurrent

640,220

1,540,000

-

2,180,220

1,241,394

Capital Assets: Land

4,500

3,792,303 507,746 122,782

- - - - - -

3,796,803 507,746 140,271 1,368,569 99,339,731 4,274,637 109,427,757 (30,785,331) 78,642,426 80,822,646 -

221,876

Right of Way

-

-

Construction in Progress

17,489

78,755

Line Rights Infrastructure

1,368,569 49,509,817

-

-

49,829,914

3,806,460 32,717,849 17,986,920 54,811,860 (22,626,384) 32,185,476 33,426,870

Buildings

-

-

Machinery and Equipment

1,940,315 52,840,690 (15,425,680) 37,415,010 38,055,230

1,162,254 55,414,999 (14,890,888) 40,524,111 42,064,111

1,172,068 1,172,068 (468,763) 703,305 703,305

Total Cost

Less Accumulated Depreciation

Net Capital Assets

Total Noncurrent Assets

Total Assets

46,926,323

55,312,179

729,040

102,967,542

46,407,834

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

46,045 3,609

70,235 3,609

- -

116,280

- -

7,218

Total Deferred Outflows of Resources

49,654

73,844

-

123,498

-

Total Assets and Deferred Outflows of Resources

$

46,975,977

$

55,386,023

$

729,040

103,091,040 $

$

46,407,834

LIABILITIES AND NET POSITION Current Liabilities Accounts Payable

$

133,468 108,316 87,294 14,416 343,494 -

$

41,095 2,385 21,409 16,218 81,107 -

$

- - - -

$

174,563 110,701 80,272 108,703 30,634 504,873 640,220 37,443 99,530 492,305

$

84,328 4,580

Contracts Payable Due to Other Funds

80,272

- -

Due to Other Governments Current Compensated Absences

1,074,681 1,163,589

Total Current Liabilities

80,272

Noncurrent Liabilities

Advance from Other Funds Compensated Absences Net OPEB Obligation

-

-

640,220

1,540,000 1,313,498

17,620 49,765 194,945 262,330 605,824

19,823 49,765 297,360 366,948 448,055

- - -

- -

Net Pension Liability

Total Noncurrent Liabilities

640,220 720,492

1,269,498 1,774,371

2,853,498 4,017,087

Total Liabilities

Deferred Inflows of Resources Deferred Inflows of Resources Related to Pensions

50,914

77,662

-

128,576

-

Net Position

Investment in Capital Assets

37,415,010 8,904,229 46,319,239

40,524,111 14,336,195 54,860,306

703,305 (694,757)

78,642,426 22,545,667 101,188,093

32,185,476 10,205,271 42,390,747

Unrestricted

Total Net Position

8,548

Total Liabilities, Deferred Inflows of Resources and Net Position

$

46,975,977

$

55,386,023

$

729,040

$

46,407,834

Adjustment to Reflect the Consolidation of Internal Service Fund Activity Related to Enterprise Funds (See Note 2c)

453,464

Total Business-Type Activities Net Position

101,641,557 $

38

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