2019 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - ECONOMIC DEVELOPMENT AUTHORITY For the Year Ended December 31, 2019

Budget

Variance with Final Budget - Over (Under)

Actual Amounts

Final

Original

REVENUES Taxes

$

350,000 12,000

$

350,000 12,000

$

345,029 12,000

$

(4,971)

Charges for Services Miscellaneous Revenues: Investment Income

-

1,000

-

(7,249) 49,737

(7,249) 9,737 (2,483)

Other

-

40,000 402,000

Total Revenues

363,000

399,517

EXPENDITURES Current

Economic Development

362,500

461,035

322,160

(138,875)

Capital Outlay

Economic Development

-

6,600

21,276 343,436

14,676

Total Expenditures

362,500

467,635

(124,199)

Excess of Revenues Over (Under) Expenditures

500

(65,635)

56,081

121,716

OTHER FINANCING SOURCES (USES) Transfers In

-

-

510,294

510,294

Net Change in Fund Balances

$

500

$

(65,635)

$

566,375

$

632,010

FUND BALANCES Beginning of Year

(821,472)

End of Year

(255,097) $

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

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