2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - PROPRIETARY FUNDS For the Year Ended December 31, 2018

Business-Type Activities - Enterprise Funds

Governmental Activities - Internal Service Funds

Sewer

Storm Drainage

Refuse

Total

OPERATING REVENUES Charges for Services

3,675,100 $

$

1,207,445

$

104,638

$

4,987,183

$

-

Rental Charges Other Charges

-

-

- - -

-

3,509,542

7,469

20,625 2,522

28,094 2,522

31,719

Special Assessments

-

-

Total Operating Revenues

3,682,569

1,230,592

104,638

5,017,799

3,541,261

OPERATING EXPENSES Salaries and Benefits Professional Services Sewer Disposal Charges Repairs and Maintenance Materials and Supplies Depreciation

320,924 843,514 152,683 26,018 35,732 26,200 59,580 39,209 2,498,302 4,002,162

531,984 851,443 160,376 62,012 49,905 27,310 13,770 14,422

-

852,908 1,812,067 313,059 2,498,302

86,088

117,110

1,993,950

- - - - - - -

26,535

-

-

88,030 85,637 53,510 73,350 53,631

57,002 348,910

Rent

-

Insurance Utilities

692,379

-

Total Operating Expenses

1,711,222

117,110

5,830,494

3,204,864

Operating Income (Loss)

(319,593)

(480,630)

(12,472)

(812,695)

336,397

NONOPERATING REVENUES (EXPENSES) Investment Income (Loss)

167,494 26,150 (20,625) (102,439)

125,740

193,887

(1,126)

318,501

Insurance Dividends Interest Expense

- - -

- -

-

-

(7,469)

(7,469)

Gain (Loss) on Sale of Asset

1,875

-

1,875

Total Nonoperating Revenues (Expenses) Income before Capital Contributions and Transfers

125,740

195,762

(8,595)

312,907

70,580

(193,853)

(284,868)

(21,067)

(499,788)

406,977

Capital Grants and Contribution

6,000 57,287

- -

- - - -

6,000 57,287

5,000

Capital Contributions from Special Assessments Capital Contributions from Outside Developers

- -

1,560,725 (311,480)

2,609,495 (125,000)

4,170,220 (436,480)

Transfers Out

(470,000)

Change in Net Position

1,118,679

2,199,627

(21,067)

3,297,239

(58,023)

NET POSITION Beginning of Year

45,197,109

52,657,228

29,615

97,883,952

42,448,770

Prior Period Adjustment Beginning of Year, Restated

3,451

3,451

-

6,902

-

45,200,560

52,660,679

29,615

97,890,854

42,448,770

End of Year

46,319,239 $

54,860,306 $

$

8,548

101,188,093 $

42,390,747 $

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

59,221

Change in Net Position - Business-Type Activities

$

3,356,460

39

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