2018 City of Shakopee Comprehensive Annual Financial Report
CITY OF SHAKOPEE MANAGEMENT’S DISCUSSION AND ANALYSIS December 31, 2018
During the current year, the City’s net position increased $7.6 million. Governmental activities increased as a result of increased tax revenue, increases in operating revenue related to permits and community center and ice arena operations and contributed assets from outside developers during 2018. The business-type activities increased as a result of contributed assets from outside developers during the year. Additionally, both governmental and business-type activities recognized OPEB pension adjustments as a prior period adjustment in 2018.
Changes in Net Position (Expressed in Thousands)
Governmental Activities
Business-Type Activities
Total
2018
2017
2018
2017
2018
2017
REVENUES: ProgramRevenues:
Charges for Services Operating Grants and Contributions Capital Grants and Contributions
11,404 $
$
9,255
$
5,018
$
4,784
16,422 $
$
14,039
2,036
2,068
-
1
2,036
2,069
5,062
3,847
4,234
2,702
9,296
6,549
General Revenues: Property Taxes
20,005 1,344 1,657
19,229 1,252 1,015
- - -
- - -
20,005 1,344 1,657
19,229 1,252 1,015
Franchise Taxes Tax Increment
Other
524
393
320
246
844
639
Total Revenues
42,032
37,059
9,572
7,733
51,604
44,792
EXPENSES: General Government
5,268 11,376 12,431 4,954
4,625 11,981 11,585 3,228
- - - - - - -
- - - - - - -
5,268 11,376 12,431 4,954
4,625 11,981 11,585 3,228
Public Safety Public Works
Culture and Recreation Natural Resources Economic Development Interest on Long-TermDebt
88
242
88
242
3,069 1,009 3,969 1,685
1,631 1,113 4,226 1,774
3,069 1,009
1,631 1,113
Sewer Storm Refuse
- - -
- - -
3,969 1,685
4,226 1,774
125
125
125
125
Total Expenses
38,195
34,405
5,779
6,125
43,974
40,530
Increase (Decrease) in Net Position before Transfers
3,837
2,654
3,793
1,608
7,630
4,262
Transfers
436
27
(436)
(27)
-
-
Change in Net Position
4,273
2,681
3,357
1,581
7,630
4,262
NET POSTION: January 1
156,845
151,917
98,278
93,381
255,123
245,298
Prior Period Adjustment January 1 As Restated
(75)
2,247
7
3,316
(68)
5,563
156,770
154,164
98,285
96,697 98,278
255,055
250,861 255,123
December 31
161,043 $
156,845 $
101,642 $
$
262,685 $
$
18
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