RES 20-80CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2020-80
ADOPTING THE 2021
ANNUAL OPERATING BUDGETS
WHEREAS, the Otsego City Council has on December 14, 2020, 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 2021.
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 2021 as follows:
Revenues
Property Taxes
$4,646,632
Cable Franchise Fees
135,000
Licenses and Permits
1,200810
Intergovernmental
87,500
Charges for Services
198,915
Miscellaneous
342,600
Total Revenues
6 611457
Expenditures
General Government
$1,540,869
Public Safety
2,714,553
Public Works
1,429,909
Parks and Recreation
796,416
Economic Development
129,710
Total Expenditures
$16L1457
2.
3.
0
That the following revenues and expenses (summarized) be authorized as the final budget for the
operation of the Public Utility funds for 2021 as follows:
Revenues
Operating $4,648,511
Non -Operating 12,848,023
Total Revenues $17,496,534
Expenses
Operating
$5,873,919
Capital Outlay
13,668,510
Depreciation
2,469,535
Transfers to Other Funds
384,100
Total Expenses
522,396,064
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Debt Service funds for 2021 as follows:
Revenues
Property Taxes $749,551
Special Assessments 551,531
Utility Availability & Connection Charges 21292,698
Transfers from Other Funds 141,000
Total Revenues $aJ34 780
Expenditures
Principal $3,770,000
Interest, Fiscal Agent Fee's & Amortizations 525,251
Total Expenditures 4 295 251
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Special Revenue funds for 2021 as follows:
Revenues
Property Taxes $45,874
Tax Increments 415,676
Total Revenues 461550
Expenditures
Economic Development $436,033
Total Expenditures 436 033
ON
ADOPTED by the Otsego City Council this 14th day of December, 2020.
MOTION BY: Warehime
SECONDED BY: Goede
IN FAVOR: Tanner, Warehime, Stockamp, Goede, Darkenwald
OPPOSED: None
CITY OF OTSEGO
AOCL"
V ' ' Jessica L. Stockamp, kayor
ATTEST:
O&'LLR -
BethanVVenting, Dep 4
,j City Clerk