Statement of Net Position Proprietary Funds 2021, LakerPioneer AFFIDAVIT OF PUBLICATION
STATE OF MINNESOTA )ss
COUNTY OF CARVER
Rhonda Herberg being duly sworn on an
oath, states or affirms that he/she is the
Publisher's Designated Agent of the newspa-
per(s)known as:
Laker Pioneer
with the known office of issue being located
in the county of:
CARVER
with additional circulation in the counties of:
HENNEPIN
and has full knowledge of the facts stated
below:
(A)The newspaper has complied with all of
the requirements constituting qualifica-
tion as a qualified newspaper as.provided
by Minn. Stat.§331A.02.
(B)This Public Notice was printed and pub-
lished in said newspaper(s) once each
week, for 1 successive week(s); the first
insertion being on 06/25/2022 and the last
insertion being on 06/25/2022.
MORTGAGE FORECLOSURE NOTICES
Pursuant to Minnesota Stat. §580.033
relating to the publication of mortgage
foreclosure notices: The newspaper complies
with the conditions described in §580.033,
subd. 1, clause (1) or(2). If the newspaper's
known office of issue is located in a county
adjoining the county where the mortgaged
premises or some part of the mortgaged
premises described in the notice are located,
a substantial portion of the newspaper's
circulation is in the latter county'
'-U4By: '
Designated Agen'
Subscribed and sworn to or affirmed before
me on 06/25/2022 by Rhonda Herberg.
Notary Public
4Alk, DARLENE MARIE MACPHERSON
»'N�r NOTARY PIIBUC-MINNESOTA
Ar• % My Commission Expires Jan 31 2024
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Ad ID 1238291
CITY OF SHOREWOOD,MINNESOTA Income(Loss)Before Contributions
STATEMENT OF NET POSITION and Transfers (131,299) (296,701) 245,401 (18,251) (200,850))
PROPRIETARY FUNDS Capital Contributions 177,500 15,462 - - 192,962
DECEMBER 31,2021 Capital Contributions From Other
Funds 331,857 - 90,820 - 422,677
Business-tvoe Activities-Enterprise Funds Transfers Out (12,500) (12.5001 - - (25.0001
Stormwater Change in Net Position 365,558 (293,739) 336,221 (18,251) 389,789
Management Nonmajor Net Position,January 1 7.377.164 4,218.336 4.225.549 359.983 16.180.032
Water Sender Utility Recvclina Totals Net Position,December31 $7.742.722 $3.924,597 $4.561.770 $340,732 $16.569.821
Assets
Current Assets The notes to the.financial statements are an integral part of this statement.
Cash and temporary investments $ 209,320 $1,651,805 $2,193,800 $312,083 $4,367,008 CITY OF SHOREWOOD,MINNESOTA
Cash with fiscal agent 280,000 - - - 280,000 STATEMENT OF CASH FLOWS
Receivables PROPRIETARY FUNDS
Accrued interest 685 3,807 5,412 573 10,477 FOR THE YEAR ENDED DECEMBER 31,2021
Accounts 139,902 336,362 127,595 45,473 649,332
Special assessments 10,309 29,160 10,120 4,402 53,991 Business-type Activities-Enterprise Funds
Leases 161,133 - - - 161,133 Stormwater
Prepaid Items 2,680 2,680 2,680 2,680 10,720 Management Recmajor
Water Sewer Utility Revclina Totals
Due from other funds - 307.088 - 4 307.088 Cash Flows from Operating Activities
Total Current Assets 804.029 2.330,902 2,339.607 365.211 5.839.749 Receipts from customers and users $713,531 $1,136,063 $437,848 $189,929 $2,477,371
•
Noncurrent Assets Other receipts related to operations 10,610 4,335 48,860 21 63,826
Payments to suppliers,contractors
Special assessments revievable 320,186 - - - 320,186 and other governments (371,051) (1,149,093) (70,034) (188,468) (1,778,646)
Advances to other funds 1,015,044 - - - 1,015,044 Payments to employees (274,782) (234.4601 (75.384) (19.4041 (604.030)
Capital assets • Net Cash Provided(Used) "
Land - - 1,322,989 - 1,322,989 by Operating Activities 78.308 (243.1551 341.290 117.9221 158.521
Construction in progress 1,691,768 461,978 2,624,813 - 4,778,559 Cash Flows from •
Machinery and equipment 383,540 471,566 - - 855,106 Noncapital Financing Activities
Infrastructure 12,409,680 9,456,864 2,869,751 - 24,736,295 Transfers out (12,500) (12,500) - - (25,000)
Less accumulated Lease receivable paid 157,973 - - - - 157,973
depreciation (6.808.362) (8.141.9691 (715,321) - 05.665.6521 Increase/decrease in due to other 307,088 (307,088) - - -
Net Capital Assets 7.676.626 2.248.439 6.102.232 - 16.027.297 funds
Total Noncurrent Assets 9.011.856 2.248.439 6.102.232 - 17.362.527 Net Cash Provided(Used)by -
Total Assets 9,815,885 4.579.341 8.441.839 365.211 23.202,276 Noncapital Financing Activities 452.561 (319.588) - - 132.973
Deferred Outflows of Resources Cash Flows from Capital
Deferred pension resources 94.405 81.188 26.556 6.991 209,140 and Related Financing Activities
Liabilities Connection fees received 177,500 15,462 - - 192,962
Current Liabilities Acquisition of capital assets (936,858) (325,756) (1,764,185) - (3,026,799)
Accounts and contracts payable ' 11,640 119,771 32,600 14,283 178,924 Bond proceeds,net of issuance 550,831 44,550 438,556 1,033,937
Accrued salaries payable 7,812 7,055 2,114 458 17,439 costs
Due to other governments 8,916 10,348 - - 19,264 Principal paid on revenue bonds (275,000) - - - (275,000)
Due to other funds 307,088 - - - 307,088 Interest paid on revenue bonds (18,3691 (4,013) (37.4691 - (59.8511
Accrued interest payable 9,168 2,080 19,373 - 30,601 Net Cash Provided(Used)by (501,896) (269,757) (1,363,898 - (2,134,751)
Bonds payable-current 291.963 5.614 52.423 - 350.000 Capital and Related
'Total Current Liabilities 636,587 144,848 106,510 14.741 902,686 Financing Activities
Noncurrent Liabilities Cash Flows from Investing Activities
Bonds payable 1,305,812 397,710 3,736,478 - 5,440,000 Interest received on investments 84.291 3.878 5.515 585 94.269
Net Pension liability 117.661 100,929 33.388 8.767 260,745 Net Increase(Decrease)in
Total Noncurrent Liabilities 1.423.473 498.639 3.769.866 8.767 5.700.745 Cash and Cash Equivalents - 113,264 (828,622) (1,016,293) (17,337) (1,748,988)
Total Liabilities 2.060.060 643.487 3.876,376 23,508 6.603.541 Cash and Cash Equivalents,January 1 376.056 2,480,427 $3,210.093 329,420 6.395.996
Deferred Inflows of Resources Cash and Cash Equivalent,
Deferred pension resources 107.508 92,445 30.249 7.962 238.164 December 31 $489.3204 $1.651.805 $2.193.800 $312.083 $4.647.008
Net Position Reconciliation of Cash and Cash
Net invves�tment in capital assets 6,396,120 2,143,029 3,999,947 - 12,539,096 Equivalents to the Statement •
Unrestrr5ted 1.346.602 1.781.568 561.823 340.732 4.030.725 of Net Position
Total Net Position $7.742.722 $3.924,597 $4.561.770 $340,732 $16.569,821 Cash and temporary investments $209,320 $1,651,805 $2,193,800 $312,083 $4,367,008
The notes to the financial statements are an integral part of this statement. Cash with fiscal agent 280.000 280.000
Total Cash and Cash Equivalents
CITY OF SHOREWOOD,MINNESOTA $489.320 $1,651.805 $2,193.800 $312,083 $4,647,008
STATEMENT OF REVENUES,EXPENSES AND Reconciliation of Operating Income
CHANGES IN NET POSITION (Loss)to Net Cash Provided(Used)by
. PROPRIETARY FUNDS Operating Activities
'FOR THE YEAR ENDED DECEMBER 31,2021 Operating income(loss) $(202,946)- $(293,112) $238,857 $17,911 $(275,112)
Adjustments to reconcile operating
Business-type Activities-Enterprise Funds income(loss)to net cash provided
Stormwater (used)by operating activities
Management Nonmajor Other income related to
Water Sewer Utility Recyclina Totals operations 10,610 4,435 48,860 21 63,826
Operating Revenues - Depreciation 348,143 102,474 68,095 - 618,712
Charges for services $766.069 $1.171.092 $447.514 $174.156 $2.558.831 (Increase) decrease in assets/
Intergovernmental - - 16.525 16.525 deferred outflows of resources
Total Operating Revenues 766.069 1,171.092 447.514 190,681 2,575.356 Accounts receivable (25,134) (41,811) (13,859) (2,674) (83,478)
Operating Expenses Special assessments receivable (27,404) 6,782 4,193 1,922 (14.507)
Personal services 278,544 243,522 76,568 20,558 619,192 Prepaid items (2,680) (2,680) (2,680) (2,680) (10,720)
Supplies 9,566 3,616 2,218 1,923 17,323 Deferred pension resources (67,143) (58,911) (18,887) (5,199) (150,140)
Repairs and maintenance 39,541 5,697 1,020 - 46,258 Increase(decrease)in liabilities/
Depreciation 348,143 102,474 68.095 - 518,712 deferred inflows of resources
Professional services 18,850 36,842 39,770 - 95,462 Accounts and contracts payable (25,647) 14,341 (3,360) 2,246 (12,420)
Contracted services 102,217 48,218 17,439 174,345 342,219 Due to other governments 396 (42,546) - - (42,942)
Insurance - 2,500 - - 2,500 Net Pension liability (31,373) (20,757) (8,606) (1,047) (51,783)
Accrued salaries payable 1,340 1,813 331 (120) 3,164
Water purchases 35,099 35,099 13,731 - - 35,099 35,099 Deferred pension resources 100.938 87.117, 28.346 7,5201 223.921
Utilities
Net Cash Provided(Used)
Disposal charges - 996,747 - - 996,747
Other 52.581 10.857 3.547 11,766 78,751 by Operating Activities $78.308 $1243.1551 $341,290 $(17.922) $158.521
C
Noncash Capital and
Total Operating Expenses 969.015 1.464,204 208.657 208.592 2.850.468 Related Financing Activities
Operating Income(Loss) (202.9461 (293.112) 238.857 •(17.911) (275.1121 Contribution of assets from other
Nonoperating Revenues(Expenses) funds $331.857 - $90.820 5- $422.677
Special assessments 4,824 - - - 4,824 Capital assets purchased on
Interest(loss)on investments 84,469 (3,124) 2,791 (361) 83,775 account $8.916 $103.025 $- $- $111.941
Miscellaneous 5,786 4,335 48,860 21 59,002 The notes to the financial statement are an integral part of this statement.
Interest Expense (19,965) (4,520) (42,345) - 66,830
Bond issuance costs (3,467) (280) (2,762) - (6,509) Continued...
Total Nonoperating
Revenues(Expenses) 71.647 (3.5891 6.544 (3401 74.262