2019 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, 2019

Electric

Water

Total

$ 49,650,814

$ 4,861,369

$ 54,512,183

Operating Revenues

Operating Expenses

44,156,725

5,575,610

49,732,335

Operating Income (Loss)

5,494,089

(714,241)

4,779,848

NONOPERATING REVENUES (EXPENSES) Rentals and Miscellaneous

259,598 90,000 980,761 (64,280) 138,545

268,265

527,863 90,000 1,508,404

Interdepartmental Rent from Water

-

Investment Income Interest Expense

527,643 (2,295) (62,391) 731,222

(66,575) 76,154

Gain(Loss) on Disposition of Property Total Nonoperating Revenues (Expenses)

1,404,624

2,135,846

Income Before Contributions

6,898,713

16,981

6,915,694

Capital Contributions

759,222

6,922,746

7,681,968

Change in Net Position

7,657,935

6,939,727

14,597,662

NET POSITION Beginning of Year

76,917,858

68,121,082

145,038,940

End of Year

84,575,793 $

75,060,809 $

159,636,602 $

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

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