Details for 2017 Financial Statements

City of Shorewood, Minnesota Summary Financial Report Revenues and Expenditures For General Operations Governmental Funds For the Years Ended December 31, 2017 and 2016 The purpose of this report is to provide a summary of financial information concerning the City of Shorewood to interested citizens. The complete financial statements may be examined at City Hall, 5755 Country Club Road, Shorewood, Minnesota 55331. Questions about this report should be directed to the City of Shorewood at 952-960-7900. City of Shorewood, Minnesota Statement of Net Position Proprietary Funds December 31, 2017 CONTINUED...

City of Shorewood, Minnesota
Summary Financial Report
Revenues and Expenditures For General Operations
Governmental Funds
For the Years Ended December 31, 2017 and 2016
Total

Percent
Increase
(Decrease)

2017
2016
Revenues
Taxes
$5,221,374
$5,129,620
1.79 %
Licenses and permits
315,574
340,112
(7.21)
Intergovernmental
461,633
172,806
167.14
Charges for services
409,244
596,715
(31.42)
Fines and forfeits
76,056
48,868
55.64
Interest on investments
75,256
99,369
(24.27)
Miscellaneous
1,365,593
1,929,822
(29.24)
Total Revenues
$7,924,730
$8,317,312
(4.72) %
Per Capita
$1,057
$1,115
(5.20) %
Expenditures
Current
General government
$1,493,020
$1,413,329
5.64 %
Public safety
1,722,628
1,623,749
6.09
Public works
751,394
786,780
(4.50)
Culture and recreation
409,010
361,128
13.26
Capital outlay
General government
7,630
28,635
(73.35)
Public safety
470,455
484,952
(2.99)
Public works
991,853
941,716
5.32
Culture and recreation
771,157
2,038,983
(62.18)
Economic development
650,944
682,787
(4.66)
Debt service
Principal
870,000
6,480,000
(86.57)
Interest and service charges
181,605
434,990
(58.25)
Total Expenditures
$8,319,696
$15,277,049
(45.54) %
Per Capita
$1,110
$2,048
(45.82) %
Total Long-term Indebtedness
$5,990,000
$6,830,000
(12.30) %
Per Capita
$799
$916
(12.74)
General Fund Balance - December 31
$4,162,049
$4,604,583
(9.61) %
Per Capita
$555
$617
(10.07)
The purpose of this report is to provide a summary of financial information concerning the City of Shorewood to interested citizens. The complete financial statements may be examined at City Hall, 5755 Country
Club Road, Shorewood, Minnesota 55331. Questions about this report should be directed to the City of Shorewood at 952-960-7900.
City of Shorewood, Minnesota
Statement of Net Position
Proprietary Funds
December 31, 2017

Water
Assets
Current Assets
Cash and temporary investments
Cash with fiscal agent
Receivables
Accrued interest
Accounts
Special assessments
Leases
Total Current Assets
Noncurrent Assets
Special assessments receivable
Advances to other funds
Lease receivable
Capital assets
Land
Construction in progress
Machinery and equipment
Infrastructure
Less accumulated depreciation
Net Capital Assets
Total Noncurrent Assets
Total Assets
Deferred Outflows of Resources
Deferred pension resources
Liabilities
Current Liabilities
Accounts and contracts payable
Accrued salaries payable
Due to other governments
Accrued interest payable
Bonds payable - current
Total Current Liabilities
Noncurrent Liabilities
Bonds payable
Pension liability
Total Noncurrent Liabilities
Total Liabilities
Deferred Inflows of Resources
Deferred pension resources
Net Position
Net investment in capital assets
Unrestricted
Total Net Position

Business-type Activities - Enterprise Funds
Stormwater
Nonmajor
Management Recycling
Sewer
Utility

Totals

$943,703
278,189

$2,626,386
-

$804,294
-

$231,732
-

$4,606,115
278,189

3,980
74,000
36,122
148,862
1,484,856

10,233
254,623
21,934
2,913,176

3,143
99,507
6,516
913,460

801
45,076
3,784
281,393

18,157
473,206
68,356
148,862
5,592,885

107,882
1,015,044
625,821

6,131
-

1,737
-

1,159
-

116,909
1,015,044
625,821

306,765
10,538,269
(5,452,675)
5,392,359
7,141,106
8,625,962

362,072
9,191,567
(7,761,016)
1,792,623
1,798,754
4,711,930

434,113
17,347
2,291,347
(456,096)
2,286,711
2,288,448
3,201,908

1,159
282,552

434,113
17,347
668,837
22,021,183
(13,669,787)
9,471,693
11,229,467
16,822,352

33,360

23,736

5,954

2,619

65,669

14,145
2,172
6,461
7,694
270,000
300,472

7,238
1,730
398
9,366

17,845
218
18,063

10,354
149
10,503

49,582
4,269
6,859
7,694
270,000
338,404

1,100,000
141,325
1,241,325
1,541,797

100,552
100,552
109,918

25,224
25,224
43,287

11,094
11,094
21,597

1,100,000
278,195
1,378,195
1,716,599

36,392

25,893

6,495

2,858

71,638

4,022,359
3,058,774
$7,081,133

1,792,623
2,807,232
$4,599,855

2,286,711
871,369
$3,158,080

260,716
$260,716

8,101,693
6,998,091
$15,099,784
CONTINUED...