2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - COMPONENT UNIT - SPUC

For the Year Ended December 31, 2018

Electric

Water

Total

$ 50,393,489

$ 5,608,127

$ 56,001,616

Operating Revenues

Operating Expenses

45,444,180

5,352,856

50,797,036

Operating Income

4,949,309

255,271

5,204,580

NONOPERATING REVENUES (EXPENSES) Rentals and Miscellaneous

430,798 90,000 449,019 (65,609) (216,694) 59,601 747,115

184,857

615,655 90,000 668,883 (66,598)

Interdepartmental Rent from Water

-

Investment Income Interest Expense

219,864

(989)

Amortization of Debt Issuance Costs and Loss on Refunding Gain(Loss) on Disposition of Property Total Nonoperating Revenues (Expenses)

-

(216,694)

5,536

65,137

409,268

1,156,383

Income Before Contributions

5,696,424

664,539

6,360,963

Capital Contributions

730,662

5,868,217

6,598,879

Change in Net Position

6,427,086

6,532,756

12,959,842

NET POSITION Beginning of Year

70,490,772

61,588,326

132,079,098

End of Year

76,917,858 $

68,121,082 $

145,038,940 $

45

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