Financial Reporting

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The City of Shakopee is on a Jan. 1 through Dec. 31 fiscal calendar.

Annual City Budget

The city administrator collaborates with City Council and city departments to develop the annual budget and ensure the city continues to provide quality public services at a reasonable price.

2024 Budget at a Glance

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2025 Budget Documents

2025 Budget Listening Session – July 8, 2024 [PDF]

2025 Preliminary Budget Presentation - Sept. 3, 2024 [PDF]

2025 Preliminary Tax Levy Memo to Council - September 2024 [PDF]

Also Available:

Capital Improvement Plan

Annual Comprehensive Financial Report

The city conducts an annual audit every spring of its past year’s financial condition, which is outlined in the Annual Comprehensive Financial Report. This report provides both the summary and detailed overview of the city’s financial audit and the annual financial report that is created after each year’s audit process. Auditors present an overview of the audit process, audit results and trend information each year at a City Council meeting, typically in May or June.

2023 Annual Comprehensive Financial Report

An in-depth report of the city’s financial condition as of June 7, 2024:

Also Available:

Property Tax Receipt

Budget Timeline

Spring-Early Summer: Staff prepare capital improvement plan, complete budget forecasts and host public budget listening sessions

Summer: Council reviews proposed capital improvement plan, budget and preliminary tax levy

September Council adopts maximum preliminary levy, approves 2020-24 Capital Improvement Plan

Fall: Departments submit detailed budget requests to city administrator

November: City administrator submits proposed budget to City Council for workshop discussion

December: Council hosts public budget meeting, approves budget and certifies tax levy

Contact

Nathan Reinhardt
Finance Director
952-233-9326

Expand/Contract

Capital Projects
The City’s bricks and mortar fund, used to pay for larger construction and infrastructure projects, including developing new parks, reconstruction of streets and expanding utilities. See: Capital Improvements Plan.
Debt Service
Dedicated to pay off bonded debt, often due to construction of City infrastructure and buildings.
Enterprise
The business-side of City utilities is managed with these four funds: electric and water (operated by Shakopee Public Utilities Commission) and sewer and storm drainage (operated by the City). These funds are financed by user charges and are self-supporting, similar to a private business.
General Fund
The primary operating fund for the City, used to pay for the everyday services related to public safety, public works, culture/recreation and general government. About 60 percent of this fund comes from property taxes.
Internal Service
City departments set aside dollars, or “rent,” toward future purchases and replacement of equipment. These funds include:

Building:Future purchases, major reconstructions and additions to City-owned buildings including City Hall, Library, Public Works, Police and Fire Stations.

Capital Equipment: Use and purchase of major pieces of mobile equipment.

Park Asset: Replacement of park equipment.

Information Technology: Acquisition and replacement of computers, printers, copiers and software and relating licensing and service contracts.
Special Revenue
Dollars received for specific purposes, such as transit and economic development, as required by law.