RES 18-78CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2018-78
ADOPTING TTIE 2019
ANNUAL OPERATING BUDGETS
WHEREAS, the Otsego City Council has on December 10, 2018, 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 2019.
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 2019 as follows:
Revenues
Property Taxes
$4,190,235
Cable Franchise Fees
140,000
Licenses and Permits
982,401
Intergovernmental
70,800
Charges for Services
162,820
Miscellaneous
266,200
Total Revenues
5 812 456
Expenditures
General Government
$1,318,961
Public Safety
2,374,426
Public Works
1,297,889
Parks and Recreation
706,920
Economic Development
114,260
Total Expenditures
S5AL2 456
W,
3.
4.
That the following revenues and expenses (summarized) be authorized as the final budget for the
operation of the Public Utility funds for 2019 as follows:
Revenues
Operating $3,597,677
Non -Operating 198,297
Total Revenues 3 795 974
Expenses
Operating
$3,073,757
Capital Outlay
1,834,533
Depreciation
1,625,000
Transfers to Other Funds
473,510
Total Expenses
$7,006,800
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Debt Service funds for 2019 as follows:
Revenues
Property Taxes $734,293
Special Assessments 421,642
Utility Availability & Connection Charges 1,848,850
Transfers from Other Funds 301,610
Total Revenues $3,306,395
Expenditures
Principal $3,405,000
Interest, Fiscal Agent Fee's & Amortizations 956,096
Total Expenditures 4 361 096
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Special Revenue funds for 2019 as follows:
Revenues
Property Taxes $157,754
Total Revenues 157 754
Expenditures
Services & Other Charges $150,311
Total Expenditures 150 311
2
ADOPTED by the Otsego City Council this 10th day of December, 2018.
MOTION made by Council Member Tanner
INFAVOR: Stockamp, Heidner, Tanner,
OPPOSED: None
3
CITY OF OTSEGO
-() Jessica Stocicam a or
p� Y
ATTEST:
Tami Ib, City Clerk
and SECONDED by Council Member
Warehime