2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS For the Year Ended December 31, 2020

TIF District No. 18 Canterbury Common Capital Projects

Other Governmental Funds

Total Governmental Funds 22,052,825 $ 2,317,499 990,509 3,923,439 6,232,913 5,294,280 2,394,550 43,227,394 21,379

Capital Improvement

TIF District No. 20 Enclave

General Fund

REVENUES Taxes

17,277,739 $

1,450,657 $

$

-

$

- - - - - - -

3,324,429 2,211,384 215,308 346,377

Tax Increment

-

-

106,115

Special Assessments Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures

(17,707)

792,908

- - - - -

3,577,062 4,707,148 5,242,392

-

1,496,591

29,174 51,888 14,317

- -

7,062

Miscellaneous

619,592

52,090

4,756

(82) (82)

1,718,194 7,911,071

Total Revenues

31,413,288

3,792,246

110,871

EXPENDITURES Current

General Government

5,007,331 13,538,313 6,551,238 3,559,908

- - - - - - - -

- - - - -

- - - - -

234,237 39,668 28,004

5,241,568 13,577,981 6,579,242 3,559,908

Public Safety Public Works

Culture and Recreation

-

Conservation and Natural Resources

- - - -

25,557

25,557

Economic Development

23,368

2,344,859

3,450,802

5,819,029

Debt Service Principal

-

-

1,750,000 1,126,243 493,176 7,147,687

1,750,000 1,171,363 13,690,958 51,415,606

Interest and Other Charges

7,206

37,914

Capital Outlay

226,730

5,945,331 5,945,331

7,025,721 7,056,295

-

Total Expenditures

28,883,520

2,382,773

Excess of Revenues Over (Under) Expenditures

2,529,768

(2,153,085)

(6,945,424)

(2,382,855)

763,384

(8,188,212)

OTHER FINANCING SOURCES (USES) Proceeds from Sale of Capital Asset

10,284

- - -

-

- - - - -

-

10,284

Bonds Issued

- -

7,805,107 832,845

359,893

8,165,000 832,845 3,226,176 (2,676,176)

Premium on Bonds Issued

-

Transfers In Transfers Out

250,000

1,745,163

-

1,231,013

(2,535,510)

-

(95,503)

(45,163)

Total Other Financing Sources (Uses) Net Change in Fund Balances

(2,275,226)

1,745,163

8,542,449

-

1,545,743

9,558,129

254,542

(407,922)

1,597,025

(2,382,855)

2,309,127

1,369,917

FUND BALANCES Beginning of Year

15,879,343

5,771,223

343,914

(40,923)

5,617,220

27,570,777

End of Year

16,133,885 $

5,363,301 $

$

1,940,939

(2,423,778) $

7,926,347 $

28,940,694 $

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

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