RES 17-100CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2017-100
ADOPTING THE 2018
ANNUAL OPERATING BUDGETS
WHEREAS, the Otsego City Council has on December 11, 2017, held a public meeting to allow for public
comment before adopting a final budget and certifying a final property tax levy; and
WHEREAS, the Otsego City Council has reviewed the proposed General, Public Utility, Debt Service and
Special Revenue fund budgets and has determined the budget is adequate to fund the respective fund
operations for the year 2018.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO,
MINNESOTA:
1. That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the General fund for 2018 as follows:
Revenues
Property Taxes
$3,981,581
Cable Franchise Fees
136,000
Licenses and Permits
876,238
Intergovernmental
58,800
Charges for Services
111,575
Miscellaneous
213,840
Total Revenues
5 378 034
Expenditures
General Government
$1,310,816
Public Safety
2,132,164
Public Works
1,204,155
Parks and Recreation
615,039
Economic Development
115,860
Total Expenditures
5 378 034
2.
Q
That the following revenues and expenses (summarized) be authorized as the fmal budget for the
operation of the Public Utility funds for 2018 as follows:
Revenues
Operating $3,189,177
Non -Operating 210,157
Total Revenues 3 399 334
Expenses
Operating
$1,639,326
Capital Outlay
1,253,258
Depreciation
1,555,000
Debt Service
260,610
Transfers to Other Funds
207,840
Total Expenses
4 916 034
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Debt Service funds for 2018 as follows:
Revenues
Property Taxes $655,000
Special Assessments 395,603
Utility Availability & Connection Charges 1,796,750
Transfers from Other Funds 308,610
Total Revenues $3,155,963
Expenditures
Principal $3,290,000
Interest, Fiscal Agent Fee's & Amortizations 993,454
Total Expenditures 4 283 454
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Special Revenue funds for 2018 as follows:
Revenues
Property Taxes $161,105
Total Revenues 161 105
Expenditures
Services & Other Charges $108,548
Total Expenditures 108 548
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ADOPTED by the Otsego City Council this 1 lth day of December, 2017.
CITY OF OTSEGO
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Jessica Stockamp, May
ATTEST:
Tami Doff, City Clerk
MOTION made by Council Member D T D KENW T T D and SECONDED by Council Member
HFTDNER
INFAVOR: STOCKAMP, DARKENWALD, HEIDNER, TANNER, WAREHIME
OPPOSED: NONE
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