2018 City of Shakopee Comprehensive Annual Financial Report
CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2018
NOTE 8 – LONG-TERM DEBT (CONTINUED) D. Changes in Long-Term Liabilities Long-term liability information for the year ended December 31, 2018 was as follows. Beginning Ending
Due Within One Year
Balance
Additions
Reductions
Balance
Governmental Activities: Bonds Payable
34,345,000 $
$
- - -
1,995,000 $
32,350,000 $
1,910,000 $
Unamortized Premiums
2,024,168
111,422 18,788
1,912,746
-
Capital Lease
65,330
46,542
19,927
Compensated Absences
2,255,798
1,314,112
1,181,731
2,388,179
1,074,681
Total Governmental Activities
38,690,296 $
1,314,112 $
3,306,941 $
36,697,467 $
3,004,608 $
Business-Type Activities
Compensated Absences
$
65,189
$
46,426
$
43,538
$
68,077
$
30,634
Component Unit Activites:
G.O. Utility Revenue Bonds
7,590,000 $
$
- -
7,590,000 $
$
- -
$
- -
Unamortized Discounts
(7,978)
(7,978)
Total Component Unit Activites
7,582,022 $
$
-
7,582,022 $
$
-
$
-
E. Governmental Activity G.O. Bonds Debt service to maturity for outstanding G.O. bonds is as follows: Year Ending December 31, Principal Interest Total Governmental Bonds
2019 2020 2021 2022 2023
1,910,000 $
1,086,058 $
2,996,058 $
1,750,000 1,760,000 1,745,000 1,810,000 8,435,000 8,920,000 6,020,000
1,012,644 941,161 868,656 814,131 3,041,481 1,600,656
2,762,644 2,701,161 2,613,656 2,624,131 11,476,481 10,520,656 6,300,803
2024-2028 2029-2033 2034-2036
280,803
Total
32,350,000 $
9,645,590 $
41,995,590 $
71
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