Affidavit of Publication - Statement of Net Position Propietary Funds, Sun SailorAFFIDAVIT OF PUBLICATION
STATE OF MINNESOTA ) ss
COUNTY OF HENNEPIN
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:
SS Mtka Excelsior Eden Prairie
with the known office of issue being located
in the county of:
HENNEPIN
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.
(13) 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 06/27/2024 and the last
insertion being on 06/27/2024.
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 couatvA
Agent
Subscribed and sworn to or affirmed before
me on 06/27/2024 by Rhonda Herberg.
Ll/ Notary Public
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Ad ID 1404789
CITY OF SHOREWOOD, MINNESOTA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
DECEMBER 31, 2023
Business -type
Activities -Enterprise Funds
Stonrimter
Management
Non major
Water
Sewer
utility
Recycling
Totals
Assets
Current Assets
Cash and temporary investments
S 1,130.042
S 1.497.441
$ 954-939
$ 389.930
S 3,972.352
Receivables
Accrued interest
1,087
1.060
1.688
510
4,345
Accounts
149.345
383,510
223.195
47.008
803,138
Special assessments
2.036
35.220
12.376
4.435
54.067
Prepaid Items
2.681
2.681
2.681
2,681
10.724
Total Current Assets
1,285.191
L919. 112
1.194,879
444,644
4.844.626
Noncurrent Assets
Special assessments receivable
277,456
-
-
-
277.456
Advances to other funds
951,136
951.136
Capital assets
Land
-
1,322,939
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
14,182A95
10,873.509
5,560,441
30,616.445
Less accumulated depreciation
(7.603.142)
(8,379,1691
(940.891)
(16,923.202)
Net Capital Assets
8,614,508
3996.525
11,032.786
23,643.619
Total Noncurrent Assets
9.843,100
3,996.525
11,032,786
24,872A11
Total Assets
11.128,291
5,916,437
12,227,665
444,644
29,717,037
Deferred 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
95.728
12,293
178.362
Accrued salaries payable
9.981
BA90
2.606
427
21.504
Due to other governments
7.613
5.395
-
-
13.008
Accrued interest payable
41.646
35.820
64,157
-
141.623
Bonds payable - current
93.809
65.772
215,419
375.000
Total Current Liabilities
197,139
141.728
377.910
12,720
729.497
Noncurrent Liabilities
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
272.298
Total Noncurrent Liabilities
3.241. 996
2,310.193
5,974,648
4,953
11,530,890
Total Liabilities
3,438.235
2.451,921
6,352,558
17,673
12.260.387
Deferred Inflows 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
6,638,203
14,164,285
Unrestricted
2.111.634
1.495,375
(766.111)
426,519
3,267.417
Total Net Position
S 1.677.961 S 3,455,125 S 5,872.097
S 426,519
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
Stormwater
Management
Nonmafor
Water Sewer
utility Recyc lfrg
Totals
Operating Revenues
Charges for services
$ 954.653 $ 1,391.743 $
516,600 $
176,390 S
3,039,386
Intergovernmental
2.520
31.192
V
15,783
49,495
Total Operating Revenues
957.173 1.422.935
516.600
192,173
3.088,881
Operating Expenses
Personal services
266.279
199.661
69,720
9.996
54.5.676
Supplies
27.683
5.057
3A56
2,575
38.771
Repairs and maintenance
32,460
9,614
7.827
-
49,901
Depreciation
437.209
140,296
139,011
-
716,518
Professional services
15.178
28.307
59.942
-
103.427
Contracted services
45.856
34,697
20,509
134,356
235.418
Water purchases
56.284
-
-
-
56.284
Utilities
94.745
15,119
-
-
I09.864
Disposal charges
-
1.162,113
-
-
1.162.113
Other
27.885
14.125
2.789
18.700
53A99
Total Operating Expenses
1,003,579
1.609.011
303.254
165,627
30081.471
Operating Income (Loss)
(46,406)
(186.076)
213,346
26,546
7.410
Nonoperating 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
-
322,854
-
322.864
Miscellaneous
16
13
4
1
34
Interest expense
(76.617)
(59,035)
(135.961)
-
(281.613)
Bond issuance costs
(10.582)
(13.472)
(14.401)
(46.455)
Total Nonoperating
Revenues(Expenses)
30.663
(4.098)
298.512
32,265
357,346
Income (Lass) Before Contributions
and Transfers
(15.743)
(190,174)
511,85a
58,815
364.756
Capital Contributiom
128,157
22,210
-
-
150.367
Transfers Out
(12.500)
(12.500)
-
-
(25,000)
Change in Net Position 99.914 (180A64) 511.858 58,815 490.123
Net Position. January 1 7.578,047 3.635,589 5.360.239 367.704 16.941,579
Net Position, December 31 ; 7.677.961 ; 3.455.125 ; 5,872,097 ; 426,519 17
CityofShorewood. Mimasota
Stat.m.nt of Cash Flaws
Proprietary Funds
Fonthe Year Ended December 31, 2023
Bwimss a 4ctivities- Enter rise Funds
m mwater
Management
N..nma'or�
Cash Flows from Operating activities
Water
S.we. unliry
Recycling
Totals
Raceim from customers and viers
; 961,495 ; 1.412.329 f 595,132
; 191,818
; 3.160,774
Other receipts related to operations
6.230
13 4
1
6,248
Payments to suppliers. contractors and other governments 1278,097)
(1,253.213) 166,7121
(154.509)
(1,752,531)
Payments to emplayees
(291,681)
(220,662) 170,8601
(14.111)
1587.314)
Net Cash Provided (Used)
by Operating Activities
407,5147
(61,533) 457,564
23,199
927,177
Cash Flows from
Noricapical Financing Activities
Transfers out
412.5001
(12.500)
(25.0001
Franchise fees
- 242.054
-
242.054
Decrease in dive from other fads
27,730
27,730
Net Cash Provded (Used)
by Nonw . I Financing Activities
15,230
(12,500) 242,054
244,784
Cash Flows from Capital
and Related Financing Activities
Connection fees received
128,157
22,210
150.367
Special assessments received
so too
50,800
Acguisidon of capital assets
(1,653.220)
(1.1110.924) (4.137,802)
(6,971.946)
Bond proceeds, net of issuance costs
916,855
664.721 710.561
2,292,137
Principal paid on rev.- bands
(47,037)
(12,767) (120,196)
-
(180,000)
Interest paid an»verve bonds
(45.6291
(39.595) (97,437J
-
(182.6611
Proceeds from sal. of capital assets
1,032
1,032
Net Cash Provided by Capital
-and Related Financing Activities
1650.0741
(545,3231 (3,644,874)
(4,8404271)
Cash Flours from investing Activities
Interest received on Investments
118312
78.684 127.579
32.240
357.215
Net Increase (Decrease) in
Cash and Cash Equivaleres
1108,185)
(540A72) (2,817.677)
55.439
(3,411,095)
Cash and Cash Sol-Ients. Janwry 1
1.238,227
2.038.113 3,772,616
334,491
7,383A47
Cash and Cash E uivalents, De..mb..r 31
f .130.042 i .d4 f 45A.� 9�
fi 59.935
f 3.972.35�
Aeco-lat; ofopootir;gTMarrY fiuss7to
Net Cash Provided (Used) by Operating Activities
Operating income floss)
s (46.406) S
(186,076) S 213346 S 26.546 S
7,410
Adjrrstments to reconcile operating Income (loss)
to net cash provided (used) by operaurrq activities
Other income related to operations
6,230
13 4
1
6248
Depreciation
437,209
140.298 139,011
716518
(Increase) decrease in assetsfdeferred outflovn of resources
Accounts receivable
41105
(9,615) 78,578
(776)
109.292
Special rise. --receivable
136.7231
(991) (46)
421
(37,399)
Prepaid items
(132)
(132) 1132)
(132)
(528)
Dehmed pension resntrces
35,990
31,919 7.928
3.008
78.945
Increase (decrease) in liabilisiesideferred inflovrs of rasaurces
Acwunts and <cimract; payable
26,686
15,551 27,943
1.254
71,434
Due m other governments
U.560)
400
(4,1601
Net pension liability
197.4421
188.475) (20.9501
(9.023)
(215.890)
Accrued salaries payable
3.427
2,672 1.258
477
7,784
Defemd pension mnwces
42.623
32,903 100624
1,473
87,623
Nat Cash Provided (Used)
-by Operating Activities
t 407,947 t
(61,533) f 557.564 S 23.199 f 827:177
Noncash Capital and
Related Financing Activities
Amortization of bond premium
; I S49 s
1.123 S 11M
- $
3,873
Capital -am purchased on act.-
t
- s
- $�
City of Shorewood, Minnesota
Supplementary Information
Summary Financial Report
Revenues and Expenditures For General Operations
Govemmental Funds
For the Years Ended December 31. 2023 and 2022
Percent
Total
Increase
2023
2022
(Decrease)
Revenues
Taxes
; 6,698.984 ; 6.399.986
4.67 %
Licenses and permits
325.529
361,873
(10.04)
Intergovernmental
575.563
241,105
138.72
Charges for services
427.406
121.688
251.23
Fines and forfeitures
80,525
68.409
17.71
Special assessments
13,103
6,675
96.30
Interest on investments
479.095
60AIS
693.01
Miscellaneous
914.146 1.240,121
(26.29)
Total Revenues
9.514.351
6.500.272
11.93 %
Per Capita
; : 6
11.47 %
Expenditures
Current
General government
; 1.896.493
$ 1,704,766
11.25 %
Public safety
2.211.712
2,D46,942
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
MT40
Public vroft
4.98.586
2,049,523
14389
Culture and recreation
7:8.526
233,956
228A9
Economic development
184.894
210,209
(12.04)
Debt service
Principal
1,220.000
1,695,000
(28-02)
Interest and service charges
240.811
165,832
45.21
Total Expenditures
5 13,500,242
t 10.205,158
32.37 %
Per Capita
�
31.83 %
Total Long-term Indebtedness
$ 12,565,000
; 10 425.000
2072..%
Per Capita
$ 1'bul
; 1.332
20. 23
General Fund Balance - December 31
S 6,350,191
;�5-5337 56600
14.67 %
Per Capita
; 808
; 707
14-21
The purpose of this report is to provide a summary of financial information concerning the City of Shore
wood to
interested citizens. The complete financial
statements may be examined at City Hai.
5755 Country Club Road,
Shorewood,Minnesota 55331. Questions about this report should be directed to the City of Shorewood at 952-960-
7900.
ya 6aoA8e Thorne, aty 41' w'k
Published in the
Sun Sailor
June 27, 2024
1404789