2022 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - ECONOMIC DEVELOPMENT AUTHORITY For the Year Ended December 31, 2022

Budget

Variance with Final Budget - Over (Under)

Actual Amounts

Final

Original

REVENUES Taxes

$ 500,000

$

500,000

$

495,379 240,476 529,395 (41,216)

$

(4,621) 240,476 517,395 (41,216) 712,034

Intergovernmental Charges for Services Investment Income

-

-

12,000

12,000

-

-

Total Revenues

512,000

512,000

1,224,034

EXPENDITURES Current

Economic Development

525,175

525,175

1,122,194

597,019

Capital Outlay

Economic Development

-

-

198,917 1,321,111

198,917 795,936

Total Expenditures

525,175

525,175

Excess of Revenues (Under) Expenditures

(13,175)

(13,175)

(97,077)

(83,902)

(97,077)

$

(83,902)

Net Change in Fund Balances

$

(13,175)

$

(13,175)

FUND BALANCES Beginning of Year

1,402,943

End of Year

$ 1,305,866

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

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