Affidavit of Publication - Statement of Net Position Proprietary Funds, Laker PioneerAFFIDAVIT 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 I successive week(s); the first
insertion being on 06/29/2024 and the last
insertion being on 06/29/2024.
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.
By: 0 W, °
Designated Agent
Subscribed and sworn to or affirmed before
me on 06/29/2024 by Rhonda Herberg.
Notary Public
�TMY �a>P Darlene Marie MacPherson
Notary Public
Minnesota
My Commission Expires W 12029
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(1) Lowest classified rate paid by commercial users
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Ad ID 1404777
CITY OF SHOREWOOD, MINNESOTA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
DECEMBER 31, 2023
Business -type
Activities - Enterprise Funds
$tonalwater
Management
Non major
Water
Sewer
utility
Recycling
Totals
Assets
Current Assets
Cash and temporary investments
S 1,130,042
5 1,497.441
S 954.939
S 389.930
f 3,972.352
Receivables
Accrued interest
1087
1,060
1.688
510
4,345
Accounts
149.345
383510
223,195
47.088
803.138
Special assessments
2.036
35,220
12.376
4,435
54.067
Prepaid hems
2,681
2.681
2,681
2.681
10,724
Total Current Assets
1.285, 991
1919,912
FI94,879
444.644
4.844.626
Noncurrent Assets
Special assessments receivable
277456
-
-
-
277.456
Advances to other funds
951,136
_
_
951.136
Capital assets
Land
-
1,322.989
-
1,322,989
Construction in progress
1,646.139
1,032,412
5,090,247
-
7.768.798
Machinery and equipment
389.016
469.773
-
-
858,789
Infrastructure
14182495
10.873,509
5,560,441
-
30.615,445
Less accumulated depreciation
(7.603.142)
(8,379,169)
(940191)
(16,923.202)
Net Capital Assets
8,614.508
3.9% 525
11,032.786
23,643.819
Total Noncurrent Assets
9.843,100
1996,525
11,032,706
24.872,411
Total Assets
11.12a.291
5316, 337
12,227.655
444,644
29.717.037
Defend Outflows of Resources
Deferred pension resources
34.880
27.088
8.699
1.297
71.964
Liabilities
Current Liabilities
Accounts and contracts payable
44,090
26,251
95.726
12.293
178.362
Accrued salaries payable
9981
8.490
2.606
427
21,504
Due tD other governments
7,613
5,395
-
13,008
Accrued interest payable
41,646
35.820
64.157
-
141.623
Bonds payable -current
93.609
65.772
215,419
375.000
Total Currant liabilities
197,139
141.728
377,910
12.720
729.497
Noncurrent Llablllties
Bonds payable
3,109,154
2.207,863
5.941.575
-
11,258.592
Net pension liability,
131,942
102,330
33,073
4,953
272.290
Total Noncurrent Liabilities
3,241,095
2.310,193
Sy74,646
4953
11.530,890
Total Liabilities
3,438.235
2.451.921
6.352.558
17,673
12,260.387
Deferred it& Yes of Resources
Deferred pension resources
46,975
36,479
11,709
1,749
96.912
Net Position
Net investment in capital assets
5,566.327
1.959,750
6,638.208
-
14.164.285
Unrestricted
2,111,634
1.495,375
(766.111)
426.519
3.267417
Total Net Position
S 7,677.961
S 3.455.125
S 5,672.097
5 426.519
5 17,431,702
City of Shorewood,
Minnesota
Statement of Revenues, Expenses
and
Changes in
Net Position
Proprietary Funds
For the Year Ended
December 31, 2023
Business -type Activities - Enterprise Funds
Stormvarter
Management
Nonmajor
Water Sewer
Utility Rec�
Totals
Operating Revenues
Charges for services
S 954,653
$ 1.391,743 S
516.600 $
176,390 S
3.039.386
Intergovernmental
2,520
31,192
15,783
49A95
Total Operating Revenues
957,173
1.422.935
516.600
192.173
3.089.881
Operating Expenses
Personal services
266.279
199,681
69.720
9.999
545.676
Supplies
27,663
5,057
3.456
2,575
38.771
Repairs and maintenance
32,460
9.614
7.827
-
49.901
Depreciation
437,209
140,298
139,011
-
716,516
Professional services
15,178
28.307
59.942
-
103.427
Contracted services
45,656
34.697
20.509
134.356
235.418
Water purchases
56,284
-
-
-
56.284
Utilities
94.745
15,119
-
-
109.864
Disposal charges
-
1.162.113
-
-
1.162.113
Other
VMS
14.125
2,789
18,700
63A99
Total Operating Expenses
1,003,579
106094031
303,254
165,627
30081.471
Operating Income (Loss)
(46,406)
(186.076)
213,346
26,546
7.410
Nonoperatitg Revenues (Expenses)
Special assessments
6.214
-
-
-
6,214
Interest on investments
119.632
77.364
126,006
32,268
355,270
Gain on disposal of capital assets
-
1.032
-
1,032
Franchise taxes
-
-
322,B64
-
322,864
Miscellaneous
16
13
4
1
34
Interest experse
(76,617)
(69,035)
(135,961)
-
(281.613)
Bond issuance costs
(18.582)
(13A72)
(14.401)
(46,455)
Total Nonopereting
Revenues (Expenses)
30.663
(4.098)
298312
32,269
357.346
Income (lass) Before Contributions
and Transfers (15.743) (190.174) 511.858 58.815 364.756
Capital Contributions
128,157
22.210 -
- 150,367
Transfers Dut
(12,500)
(12,500)
(25.000)
Change in Net Position
99,914
(180,4641 511.858
58,615 490,123
Net Position. January 1
7,57B.047
3.635.589 5,360.239
367,7D4 16.941.579
Net Position, December 31
S 7.677.961
S 3. 555.125 S 5. 772.097 S
426.519 S 17.431,702
City of Shorewood, Minnesota
Statement of Cash none
Proprietary Funds
For the Year Ended December 31. 2DZ3
Busine Activities • Erb
Funds
rmwatr
Narog meet
Norrma' r
Water
Sewer
Uuky
Ret
Totals
Cash Fit- from Operating Activities
Receipts fmm cusmmere and users
$ 961,495 S 1,412,329 S
595,132 S
291.018 S 3.160.774
Other receipts related to operations
6.230
13
4
1
6,248
Payment to suppliers. contractors and the, governments
(278,097)
(1.253.213)
(66,7121
(154,5091
(1.752.531)
Payments to employees
i281.681)
(220.6621
(70.8601
(14,1111
(587.324)
Net Cash Provided (Used)
by Operating Actinides
407.947
(61,533)
457.564
23.199
827.177
Cash Flows bon
Noncapital Financing Activtes
Transfers out
(12,5001
(12,500)
-
(25,000)
Franchise fees
-
242.054
-
I4210S4
Decrease in due from other fads
27,730
27.730
Net Cash Provided (Used)
by Noncapital FOlancotg Activities
15,230
i127500)
242.D54
-
244,784
Cash Flows from CapBai
and Related Financing Activities
Connection fees received
128.157
22,210
-
-
150,367
Special as -res racalved
50,800
-
50.800
Acquisition of capital assets
Q.653,220)
41.180.924)
(4.137,802)
-
(6.971.946)
Bond proceeds, net of issuance costs
916.865
664.721
710.561
-
2,292,137
Principal paid on revenue bonds
(47,037)
(12.767)
(120,196)
-
(180,000)
Interest paid on raw*" bonds
i45.629)
f39.595)
(97.4371
-
(182,661)
Proceeds from sale of capital assets
1,032
1,032
Net Cash Provided by Capital
-and Related Financing Activities
(650,074)
(545,323)
13,644,874)
(4,840,271)
Cash flows from Investing Activities
Interest received on investment
118,712
78.634
127.575
32.240
357.215
Net Increase (Decrease) in
Cash and Cash Equivalents
(108,1851
(540,672)
(2.817.677)
55,639
(3.411,095)
Cash anti C- Etptiwlerss. January 1
Cash Cash E December 31
1232 227
S 1�1 0 0
24039.113
S 1.d97.461 S
3,772,616
95d.939
334 91
7.383.447
and tdwlents.
Recencl�aaon o - - - Oprr- - - - - ating Income CLossi - - - - - - - -'
-
-
ta Net Cash Provided (Used) by Operating Activities
Opeabng income Goss)
f 1",4061 S
(196,076) S
213.3d6 S
26,546 f
7,410
Aullrotrnerm to reconcile operating income (loss)
to net cash provided (t wed) by operating activities
Other income related to operations
6.230
L3
4
1
6,248
Depreciation
437,209
140.298
13%011
-
716.518
(Increase) decrease in ass.Wdeferred c u kern of resources
Accounts m-bla
41.105
(9.61s)
78S78
(779)
109.292
Special assessmens receivable
(36.783)
(991)
146)
421
(37.3991
Prepaid items
1132)
4132)
(132)
(132)
(528)
Defensd pension resevices
35.990
31,919
7,928
3.009
78,845
Increase (decrease) in habilines)defered inflows of resources
Accoures and -acts payable
26.686
15.551
27.543
1,254
71.434
D. mother govemmems
(4,5601
400
(4,160)
Not pension 8abilay
(97,442)
(88,475)
(20.950)
(9.0231
(215.8901
Accrued salaries payable
3.427
2,672
L258
427
7,784
Defend pension rewtvcas
Net 6sh Provided (cited)
42,623
32.903
10.624
1,473
87,623
•by Operating Activities
f d07.547 S
f61,5331 ;
d57 Slit f
23.199 S
227 177
Noncash Capital and
Related Fi--ir9 Aconite.
Amortization of bond premium
S 1549 S 1.723 f 12
• S 3 873
Capital assets purchased on account f
f
- f
b8=
City of Shorewood, Minnesota
Supplementary Information
Summary Financial Report
Revenues and Expenditures For General Operations
Governmental Funds
For the Years Ended December 31. 2023 and 2022
Percent
Total
Increase
2023
2022
(Decrease)
Revenues
Taxes
S 6,698.964 5
6,399,986
4.67 %
Licenses and permits
325.529
362.873
110.04)
Intergovernmental
575.563
241.105
138.72
Charges for services
427AO6
121.688
251.23
Fines and forfeitures
80.525
68AO9
17.71
Special assessments
13.103
6.675
96-30
Interest on Investments
479,095
60.415
693.01
Miscellaneous
914.146
1,240,121
(26.29)
Total Revenues
.� 9.514,351 5
8,5D0.272
11-93 %
Per Capita
�11 5
1.086
13A7 %
Expenditures
Current
General government
5 1.896,493 S
1,704.766
11.25 %
Pub(K safety
2.211.712
2.046,942
8,05
Public works
1,257,897
1.202.259
4-63
Culture and recreation
529,207
422.336
25.30
Capital outlay
General government
-
4.630
(100.00)
Public safety
200.116
469,705
(57.40)
Public Works
4.998.586
2.049.523
143.89
Culture and recreation
768.526
233,956
22BAS
Economic development
184.8%
210.209
(12,04)
Debt service
Principal
1.220.000
1.695,000
(28 02)
Interest and service charges
240,B11
165.832
45.21
Total Expenditures
$ 13,508,242
5 10.205.158
32.37 %
Per Capita
3 T7S�'
S P30d"
31-83 %
Total Long-term Indebtedness
5 12.585.000
5 10 425,000
20.72 %
Per Capita
S L601
5 1.332
20.23
General Fund Balance - December 31
5 6.350, 191
s 5,537.560
14.67 %
Per Capita
s 803
S 707
14.21
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 952-96D-
7900. rya Semi Tarot. City Cleat
Published in the
Laker Pioneer
June 29, 2024
1404777