2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE

MANAGEMENT’S DISCUSSION AND ANALYSIS December 31, 2020

During the current year, the City’s net position increased $2.0 million. Decrease related to $3.8 millions asset transfer to busines- type fund (Governmental activities increased as a result of significant intergovernmental revenues, building permit revenues, investment income and unspent bond proceeds for TIF District No. 18 Canterbury Commons.) The business-type activities increased as a result of contributed assets from outside developers during the

(Expressed in Thousands) Changes in Net Position

Governmental Activities

Business-Type Activities

Total

2020

2019

2020

2019

2020

2019

REVENUES: Program Revenues:

Charges for Services Operating Grants and Contributions Capital Grants and Contributions

$

9,458

$

13,613

$

5,534

$

5,665

$

14,992

$

19,278

4,775

1,881

-

-

4,775

1,881

4,497

6,527

1,680

5,214

6,177

11,741

General Revenues:

Property Taxes Franchise Taxes Tax Increment

20,704

19,416

- - -

- - -

20,704

19,416

1,158 2,317 1,645

1,306 2,009 2,028

1,158 2,317 2,295

1,306 2,009 2,922

Other

650

894

Total Revenues

44,554

46,780

7,864

11,773

52,418

58,553

EXPENSES: General Government

5,367

5,373

- - - - - - -

- - - - - - -

5,367

5,373

Public Safety Public Works

13,246 13,862

12,921 12,681

13,246 13,862

12,921 12,681

Culture and Recreation

4,446

5,171

4,446

5,171

Natural Resources

24

169

24

169

Economic Development Interest on Long-Term Debt

5,927 1,214

3,272

5,927 1,214 4,497 1,760

3,272

666

666

Sewer Storm Refuse

- - -

- - -

4,497 1,760

4,216 1,786

4,216 1,786

123

123

123

123

Total Expenses

44,086

40,253

6,380

6,125

50,466

46,378

Increase (Decrease) in Net Position before Transfers

468

6,527

1,484

5,648

1,952

12,175

Transfers

(3,613)

(217)

3,613

217

-

-

Change in Net Position

(3,145)

6,310

5,097

5,865

1,952

12,175

NET POSTION: January 1

167,353 164,208

161,043 167,353

107,507 112,604

101,642 107,507

274,860 276,812

262,685 274,860

December 31

$

$

$

$

$

$

20