2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2020

NOTE 16 – SEGMENT INFORMATION

The City maintains three enterprise funds that account for the sewer, storm drainage and refuse utilities. The City considers each of its enterprise funds to be a segment. Since the required segment information is already included in the City’s proprietary funds’ Balance Sheet and Statement of Revenues, Expenses and Changes in Fund Net Position balances, this information has not been repeated in the Notes to the Financial Statements.

NOTE 17 – FUND BALANCE DETAIL

Fund equity balances are classified as follows to reflect the limitations and restrictions of the respective funds.

TIF District No. 18 Canterbury Common

Other Governmental Funds

Capital Improvement

TIF District No. 20 Enclave

General Fund

Total

Nonspendable:

Prepaid Items

$

138,229

$

-

$

-

$

-

$

120

$

138,349

Restricted:

Forfeitures SCDP Grant

- - - - - -

- - - - - -

- - - -

- - - - - -

158,179 18,368 1,022,360 4,332,924 3,768,971 9,300,802

158,179 18,368 1,022,360 4,332,924 5,709,910 11,241,741

Economic Development

Debt Service

Capital Improvements

1,940,939 1,940,939

Total Restricted

Committed:

Building Permits

1,104,000

-

-

-

-

1,104,000

Assigned:

Telecommunications Capital Improvements

- - -

-

- - -

- - -

124,018 743,188 867,206

124,018 6,106,489 6,230,507

5,363,301 5,363,301

Total Assigned

Unassigned

14,891,656

-

-

(2,423,778)

(2,241,781)

10,226,097

Total Fund Balance

16,133,885 $

5,363,301 $

1,940,939 $

(2,423,778) $

$

7,926,347

28,940,694 $

97