2022 Annual Comprehensive Financial Report
CITY OF SHAKOPEE
MANAGEMENT’S DISCUSSION AND ANALYSIS December 31, 2022
During the current year, the City’s net position increased $8.2 million. Governmental activities increased as a result of significant intergovernmental revenues, park dedication revenues, building permit revenues and contributed assets from outside developers. The business-type activities increased as a result of contributed assets from outside developers during the year.
(Expressed in Thousands) Changes in Net Position
Governmental Activities
Business-Type Activities
Total
2022
2021
2022
2021
2022
2021
REVENUES: Program Revenues:
Charges for Services Operating Grants and Contributions Capital Grants and Contributions
$
15,018
$
12,343
$
6,283
$
5,805
$
21,301
$
18,148
2,203
7,555
2
-
2,205
7,555
11,106
13,015
4,095
7,999
15,201
21,014
General Revenues:
Property Taxes Franchise Taxes Tax Increment
23,061 1,706 2,516 (2,196) 53,414
21,725 1,312 2,680
- - -
- - -
23,061 1,706 2,516 (2,845) 63,145
21,725 1,312 2,680
Other
38
(649)
(151)
(113)
Total Revenues
58,668
9,731
13,653
72,321
EXPENSES: General Government
5,989 15,639 14,572 5,944
5,477 12,374 13,880 5,174
- - - - - - -
- - - - - - -
5,989 15,639 14,572 5,944
5,477 12,374 13,880 5,174
Public Safety Public Works
Culture and Recreation Natural Resources Economic Development Interest on Long-Term Debt
55
73
55
73
5,003 1,273
3,052 1,169
5,003 1,273 4,340 1,777
3,052 1,169 4,390 1,863
Sewer Storm Refuse
- - -
- - -
4,340 1,777
4,390 1,863
355
121
355
121
Total Expenses
48,475
41,199
6,472
6,374
54,947
47,573
Increase (Decrease) in Net Position before Transfers
4,939
17,469
3,259
7,279
8,198
24,748
Transfers
(856)
114
856
(114)
-
-
4,083
17,583
4,115
7,165
8,198
24,748
Change in Net Position
NET POSTION: January 1 December 31
181,791
164,208
119,769
112,604
301,560
276,812
$ 185,874
$ 181,791
$ 123,884
$ 119,769
$ 309,758
$ 301,560
18
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