RES 19-83CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2019-83
ADOPTING THE 2020
ANNUAL OPERATING BUDGETS
WHEREAS, the Otsego City Council has on December 9, 2019, 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 2020.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO,
MINNESOTA:
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the General fund for 2020 as follows:
Revenues
Property Taxes
$4,494,537
Cable Franchise Fees
141,000
Licenses and Permits
1,086,220
Intergovernmental
75,000
Charges for Services
202,615
Miscellaneous
313,300
Total Revenues
6 312 672
Expenditures
General Government
$1,462,349
Public Safety
2,609,518
Public Works
1,350,556
Parks and Recreation
764,789
Economic Development
125,460
Total Expenditures
6 312 672
2. That the following revenues and expenses (summarized) be authorized as the final budget for the
operation of the Public Utility funds for 2020 as follows:
Revenues
Operating $3,941,130
Non -Operating 15,239,157
Total Revenues 19.180,287
Expenses
Operating
$3,306,416
Capital Outlay
16,026,901
Depreciation
1,665,000
Transfers to Other Funds
287,167
Total Expenses
21,285,484
3. That the following revenues and expenditures (surmnarized) be authorized as the final budget for the
operation of the Debt Service funds for 2020 as follows:
Revenues
Property Taxes $746,757
Special Assessments 423,349
Utility Availability & Connection Charges 1,881,750
Transfers from Other Funds 133,950
Total Revenues 3 185 806
Expenditures
Principal $3,665,000
Interest, Fiscal Agent Fee's & Amortizations 706,118
Total Expenditures 4 371 118
4. That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Special Revenue funds for 2020 as follows:
Revenues
Property Taxes $56,491
Tax Increments 261,020
Total Revenues 317 511
Expenditures
Economic Development $223,788
Total Expenditures 223 788
2
ADOPTED by the Otsego City Council this 9th day of December, 2019.
MOTION made by Council Member Tanner
Goede
ATTEST:
CITY OF OTSEGO
Jessica Stockamp, Mayor
Y.1-—
Tami Loff,ity Clerk
and SECONDED by Council Member
IN FAVOR: Stockamp, Tanner, Goede, Darkenwald
OPPOSED: None
3