2019 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2019

NOTE 4 – DEPOSITS AND INVESTMENTS (CONTINUED)

B. Investments (Continued)

The following is a summary of total deposits and investments as of December 31, 2019:

Deposits (Note 3.A.)

15,584,148 $

Component Unit Petty Cash Total Deposits and Investments City Investments City Investment with Fiscal Agent Component Unit Investments City Petty Cash

63,907,294 1,008,255 54,023,383

1,700 3,435

134,528,215 $

Deposits and investments are presented in the December 31, 2019 basic financial statements as follows:

Primary

Fiduciary

Component

Government

Funds

Unit

Total

Cash with Fiscal Agent Statement of Net Position: Cash and Investments

1,008,255 66,656,311 $

$

- - - - -

48,963,233 $

115,619,544 $ 1,008,255

-

17,734,822

17,734,822

Statement of Fiduciary Net Position: Restricted Assets

-

-

Cash and Investments

-

-

Total

67,664,566 $

$

66,698,055 $

134,362,621 $

NOTE 5 – RECEIVABLES/UNAVAILABLE REVENUE

A. Taxes and Assessments Governmental funds report unavailable revenue in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection with resources that have been received, but not yet earned. At the end of the current year, the various components of unavailable revenue reported in the governmental funds were as follows:

Delinquent Property Taxes

Deferred

Delinquent Special Assessments

Assessments Special

Total

$

90,926

$

30,780

General Fund Economic Development Authority

$

3,045

$

2 124,751

-

-

2

- - 90,928

28,079 - 31,124

Capital Improvement Nonmajor Funds

798,606 2,555,969 3,385,355 $

3,507,407 $ 798,606 2,584,048

$

$

Total

65