2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2020

NOTE 4 – DEPOSITS AND INVESTMENTS (CONTINUED)

B. Investments (Continued)

The following is a summary of total deposits and investments as of December 31, 2020:

Deposits (Note 3.A.)

$

4,769,291 63,233,101 61,378,866 16,215,777

City Investments Restricted Cash and Investments Component Unit Investments City Petty Cash Component Unit Petty Cash

8,398 1,700

Total Deposits and Investments

145,607,133 $

Deposits and investments are presented in the December 31, 2020 basic financial statements as follows:

Primary

Fiduciary

Component

Government

Funds

Unit

Total

Statement of Net Position: Cash and Investments

68,450,842 $

$

298,138

18,311,819 53,777,043 $

122,526,023 $ 23,081,110

-

Restricted Cash and Investments

4,769,291

Total

73,220,133 $

$

298,138

72,088,862 $

145,607,133 $

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

Delinquent Special Assessments

Deferred

Assessments Special

Total

General Fund Economic Development Authority

$

4,059

$

26,398

$

115,179

$

1 145,636

1

-

-

Capital Improvement

- -

28,182

2,522,024

2,550,206

Nonmajor Funds

912

616,990

617,902

$

115,180

$

33,153

3,165,412 $

Total

3,313,745 $

66