2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2018

NOTE 16 – FUND BALANCE DETAIL Fund equity balances are classified as follows to reflect the limitations and restrictions of the respective funds.

Economic

Other

General

Development

Capital

TIF District

Governmental

Fund

Authority

Improvements

No. 17

Funds

Total

Nonspendable: Prepaid Items

$

68,784

$

-

$

-

$

-

$

3,801

$

72,585

Restricted:

Forfeitures SCDP Grant

- - - - - -

- - - - - -

- - - - - -

- - - - - -

195,322 18,368 73,004

195,322 18,368 73,004

Revolving Loans

Debt Service

3,207,099 3,166,302 6,660,095

3,207,099 3,166,302 6,660,095

Capital Improvements

Total Restricted

Assigned: Telecommunications

- - -

- - -

-

- - -

76,698 516,211 592,909

76,698

Capital Improvements

6,423,824 6,423,824

6,940,035 7,016,733

Total Assigned

Unassigned:

12,250,660

(821,472)

-

(1,801,093)

(200,871)

9,427,224

Total Fund Balance

12,319,444 $

(821,472) $

6,423,824 $

(1,801,093) $

7,055,934 $

23,176,637 $

NOTE 17 – COMMITTMENTS The City has the following construction commitments at December 31, 2018. Project Work

12/31/2018 Commitment

Authorization

Completed

HVAC Fire Station #1

$

64,000 19,800 115,000 524,980 644,014 556,828 257,129 16,915

$

16,000

$

48,000 14,850 57,500 127,298 70,560 97,138 29,785 12,915

Condensing Unit Fire Station #1

4,950

Reverance Pond Sculpture

57,500 397,682 573,454 459,690 227,344

2016 Sanitary Sewer Lateral Pipe Rehab

Whispering Oaks

2018 Sanitary Sewer Lateral Pipe Rehab 2018 Trail Rehabilitation and Overlay

Fire Station Windows

4,000

94