2025 Annual Comprehensive Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2025

NOTE 6 – CAPITAL ASSETS (CONTINUED)

Depreciation/amortization expense was charged to functions/programs of the City as follows:

Governmental Activities: General Government Public Safety Public Works Parks and Recreation Economic Development

898,084 $ 582,133

2,232,847 6,393,785

169,221

$10,276,070

Total Depreciation/Amortization Expense- Governmental Activities

Business-type capital asset activity for the year ended December 31, 2025 was as follows:

Beginning

Ending Balance

Balance

Increases

Decreases

Business-Type Activities:

Capital Assets not being

Depreciated:

Land

$ 3,796,803

$

-

$

- -

$ 3,796,803

Right-Of-Way

507,746

557,179 25,400

533,146 616,560

Construction in Progress

3,481,315

3,421,934

Total Capital Assets

not being Depreciated

7,785,864

582,579

3,421,934

4,946,509

Capital Assets being

Depreciated:

Line Rights

1,368,569

-

- -

1,368,569

Plant in Service

140,827,507

12,567,732

153,395,239

Machinery and Equipment

3,856,938

237,345

239,366

3,854,917

Subscription-Based Information Technology Software

-

31,821

-

31,821

Total Capital Assets being Depreciated

146,053,014

12,836,898

239,366

158,650,546

Less Accumulated Depreciation for: Line Rights

774,563

24,733

- -

799,296

Plant in Service

2,172,773 37,769,615

2,120,363

39,889,978 2,204,053

Machinery and Equipment

188,166

156,886

Subscription-Based Information Technology Software

-

3,536

-

3,536

Total Accumulated

Depreciation

40,716,951

2,336,798

156,886

42,896,863

Total Capital Assets being Depreciated, Net

105,336,063

10,500,100

82,480

115,753,683

Business-Type Activities Capital Assets, Net

$113,121,927

$ 11,082,679

$ 3,504,414

$120,700,192

72