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Item 2. 2023 Budget, Tax Levy and Capital Improvement Plan ReviewCity of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  TO:   Mayor and City Council  FROM:   Adam Flaherty, City Administrator & Finance Director  DATE:   June 27, 2022  SUBJECT:  Budget Meeting #3  On Monday, Council and staff will continue the 2023 budgeting discussions. I have developed an  outline of discussion topics below. Please note that the information presented during this meeting  is for discussion only and that nothing is final or set in stone at this point of the process. Staff  would only be asking for Council direction on the items below to move the budgeting process  forward effectively and efficiently.  Capital Project Funds  The City maintains thirteen (13) capital project funds. None of these funds have an adopted  revenue or expenditure budget; rather, the expenditure activity of the respective funds is included  within the City’s ten‐year Capital Improvement Plan (CIP).  Staff will review source and use cash flow projections with the City Council and further discuss  recommendations on how to continue to provide adequate funding. A short narrative for each  component of the capital reserve levy is as follows:  Pavement Management  This fund accounts for nearly all the street maintenance and renewal projects in the City. The  funding for these projects comes from a property tax levy, franchise fees, special assessments,  and municipal state aid maintenance dollars.  Trails Management  This fund accounts for the ongoing costs associated with the maintenance of the City’s trail  system as well as the parking lots within the City’s Park system. Annual costs typically include  crack filling, seal coating and trail renewals. The Park system continues to grow each year as  the City builds new parks and trails.   Item 2. City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  Parks Equipment Replacement  This fund accounts for the accumulation of resources to provide for future replacement of  major park capital items, including but not limited to shelters and playground equipment. The  funding for these future expenditures solely comes from a property tax levy.     Capital Equipment Revolving  This fund accounts for the expenditure of funds associated with the City’s vehicle and  equipment fleet. These expenditures are evaluated annually by staff and the City Council  during the budget process and again in the year of purchase. The funding for these vehicle and  equipment purchases comes from property tax levies or from utility operating revenues when  applicable.    Fire Station  This fund accounts for the accumulation of resources for future costs associated with the  construction of a fire station(s) within the City.    Storm Water  This levy is for the costs associated with the ongoing review, monitoring, repair, maintenance,  and improvement of the storm water systems established prior to current requirements under  the Clean Water Act. The funding for these expenditures solely comes from a property tax levy.     Capital Improvements  This fund accounts for the accumulation of resources to finance future capital improvements.  The fund does not have a specific ongoing revenue source.    City Buildings & Property Maintenance  This fund accounts for the accumulation of resources to finance City buildings and property  maintenance projects.    Property Tax Levy  At this time of the year, much of the information being used is estimates. Based upon the  information currently available from Wright County, the City’s net tax capacity for the 2023 tax  levy will increase approximately 20%.    A summary of the tax levies associated with the Capital Project funds in 2023 is as follows:    Tax Abatements: A proposed tax levy in the amount of $87,744 is included within the Capital  Improvement Revolving fund for taxes payable 2023. This amount represents the City taxes  generated within the Parkview Retail development area. The City and County entered into a Tax  Abatement Agreement in 2019 to reimburse the costs of infrastructure paid by the City, with an  estimated amount of $97,252 due from Wright County in 2023. Current calculations project that  Wright County’s portion will be paid in full in 2026, with the City’s portion paid in full in 2032.    CIP: A proposed tax levy in the amount of $1,998,346 has been included for taxes payable 2023 to  provide resources for capital projects included within the City’s CIP. This amount is preliminary in  nature and is subject to change throughout the budget process.  City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  Staffing  The City’s 2022 Strategic Plan includes a strategic direction of Positioning for Growth, which  includes a first‐year action item to develop future staffing projections. City staff has prepared a  draft staffing plan for 2023‐2027, which has been included with the packet materials, and will  review this information with the City Council during this meeting.    Assumptions  The most significant assumption within the General fund budgeting process is those in relation to  personnel. It is important for this assumption to be clearly defined at the beginning of the  budgeting process. In past years, assumptions for personnel costs have included a combination of  informal salary surveys obtained by City staff, inflation indices, and employment cost indices.    The City’s pay plan for full‐time employees includes 23 grades, each with 9 steps. The percentage  increase for each step within a pay grade is 2.75%. Employees who reach the highest step within  their pay grade do not move to the next grade. There are 10 employees projected at their  maximums for 2023.    Previous Year’s Cost of Living Adjustments (COLA)  ‐ 2022    3.00%  ‐ 2021    2.25%  ‐ 2020    2.75%  ‐ 2019    2.50%  ‐ 2018    2.50%  ‐ 2017    2.00%    At the first budget meeting on May 23, 2022, the City Council directed City staff to prepare wage  comparisons for COLA’s ranging from 3% to 6%. City staff will review this information with the City  Council during this meeting.    Fund Balance Policy – Calculation of Transfer  The City’s fund balance policy outlines that the ending fund balance in the General Fund should be  45% of the subsequent years budget. The policy further outlines that any balance more than the  defined 45% minimum, can be transferred to a capital reserve fund at the Council’s discretion.    Next Meetings  August 8, 22, and 29 – At these meetings, staff and Council will be reviewing the detailed line‐item  budgets for General fund revenues and department expenditures.    September 12 – At this meeting, the Council will adopt the Preliminary Tax Levy for Taxes Payable  2023.              City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  Materials Attached for Discussion  1) Capital Project Funds – Cash Flow Projections  2) Tax Abatement Levy Calculation  3) Tax Levy Summary – Payable 2023  4) 2023 – 2027 Draft Staffing Plan  5) Cost of Living Adjustment Calculation  6) Fund Balance Transfer Calculation    City of OtsegoPavement Management FundCash Flow SummaryRevised: June 15, 2022 10.53% 4.76% 0.00% 0.00% ‐4.55% ‐4.76% ‐5.00% ‐5.26% ‐5.56% ‐5.88% ‐6.25% ‐6.67%Actual Forecast202120222023202420252026202720282029203020312032RevenuesProperty Taxes1,050,000$          1,100,000$          1,100,000$          1,100,000$          1,050,000$         1,000,000$         950,000$            900,000$            850,000$            800,000$             750,000$             700,000$            Intergovernmental (MSA)272,126               291,478               292,935               294,400               295,872             297,351             298,838             300,332             301,834             303,343               304,860               306,384             Intergovernmental (LGA)‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Franchise Fees (Residential)‐                            ‐                             685,632               685,632               685,632             685,632             685,632             685,632             685,632             685,632               685,632               685,632             Franchise Fees (Commercial)‐                            ‐                             101,640               101,640               101,640             101,640             101,640             101,640             101,640             101,640               101,640               101,640             Franchise Fees (New Growth)‐                            ‐                            9,600                    19,200                 28,800               38,400               48,000               57,600               67,200               76,800                 86,400                96,000               Special Assessments (Actual)58,945                 ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Special Assessments (Levied)‐                            24,590                 23,270                 19,937                 19,375               14,085               9,716                  1,863                  1,822                  1,782                    1,741                   ‐                          Special Assessments (Future)‐                            ‐                            14,906                 28,758                 28,086               27,415               39,094               51,055               49,801               56,922                 55,474                64,957               Investment Interest(46,129)                ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Refunds & Reimbursements102,461               ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Debt Issuance‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Transfers In‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Total1,437,403            1,416,068            2,227,983            2,249,567            2,209,405          2,164,523          2,132,920          2,098,122          2,057,929          2,026,119            1,985,747            1,954,613          ExpensesEngineering85,348                 ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Other Charges & Services4,729                    ‐                             ‐                             ‐                             ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                            ‐                          Capital Outlay 1,115,876             ‐                             ‐                             ‐                             ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                            ‐                          Capital Outlay (CIP‐Maintenance) ‐                             984,422                908,116                669,271                955,419              791,059              1,082,809           718,976              794,978              878,948                936,009                1,285,575          Capital Outlay (CIP‐Renewal) ‐                             895,304                780,488                198,240                83,519                786,883              542,624              77,896                489,850              460,955                642,483                495,824             Capital Outlay (CIP‐MSA) ‐                             ‐                             ‐                             452,975                ‐                           ‐                           ‐                           ‐                           1,660,868           ‐                             ‐                            ‐                          Transfers Out ‐                             ‐                             ‐                             ‐                             ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                            ‐                          Total 1,205,953             1,879,726             1,688,604             1,320,486             1,038,938           1,577,942           1,625,433           796,872              2,945,696           1,339,903             1,578,492             1,781,399          Cash Balance ‐ Beginning5,304,220             5,682,063             5,218,405             5,757,784             6,686,865           7,857,333           8,443,914           8,951,401          10,252,652        9,364,885            10,051,101          10,458,356        Balance Sheet Effects146,393               Revenues1,437,403            1,416,068            2,227,983            2,249,567            2,209,405          2,164,523          2,132,920          2,098,122          2,057,929          2,026,119            1,985,747            1,954,613          Expenditures(1,205,953)           (1,879,726)           (1,688,604)          (1,320,486)           (1,038,938)         (1,577,942)         (1,625,433)         (796,872)            (2,945,696)         (1,339,903)           (1,578,492)           (1,781,399)         Cash Balance ‐ Ending5,682,063$          5,218,405$          5,757,784$          6,686,865$          7,857,333$         8,443,914$         8,951,401$         10,252,652$      9,364,885$         10,051,101$       10,458,356$       10,631,570$      Cash Balance ‐ % of Next Year Capital302%309%436%644%498%519% 1123%348%699%637%587%Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds201-Pavement ManagementCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS1 City of OtsegoTrail Management FundCash Flow SummaryRevised: June 15, 2022 3.17% 7.69% 7.14% 6.67% 6.25% 5.88% 5.56% 5.26% 5.00%4.76%Actual Forecast202120222023202420252026202720282029203020312032RevenuesProperty Taxes40,000$               63,000$               65,000$               70,000$               75,000$              80,000$              85,000$              90,000$              95,000$              100,000$             105,000$             110,000$            Intergovernmental‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Investment Interest(1,975)                  ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Miscellaneous‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Transfers In300,000               ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Total338,025               63,000                 65,000                 70,000                 75,000               80,000               85,000               90,000               95,000               100,000               105,000               110,000             ExpensesEngineering28,005                 ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Other Charges & Services‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Capital Outlay227,857               ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Capital Outlay (CIP‐Maintenance)‐                            64,000                 65,000                 66,000                 67,000               68,000               69,000               70,000               71,000               72,000                 73,000                74,000               Capital Outlay (CIP‐Renewal)‐                            60,000                 ‐                            ‐                             100,000             ‐                          ‐                           100,000             ‐                           ‐                             100,000               ‐                          Transfers Out‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Total255,862               124,000               65,000                 66,000                 167,000             68,000               69,000               170,000             71,000               72,000                 173,000               74,000               Cash Balance ‐ Beginning227,306               303,125               242,125               242,125               246,125             154,125             166,125             182,125             102,125             126,125               154,125               86,125               Balance Sheet Effects(6,344)                  Revenues338,025               63,000                 65,000                 70,000                 75,000               80,000               85,000               90,000               95,000               100,000               105,000               110,000             Expenditures(255,862)              (124,000)              (65,000)                (66,000)                (167,000)            (68,000)              (69,000)              (170,000)            (71,000)              (72,000)                (173,000)              (74,000)              Cash Balance ‐ Ending303,125$             242,125$             242,125$             246,125$             154,125$            166,125$            182,125$            102,125$            126,125$            154,125$             86,125$              122,125$            Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds202-Trail ManagementCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS2 City of OtsegoPark Development FundCash Flow SummaryRevised: June 15, 2022Actual Forecast2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032RevenuesPark Dedication Fees 1,205,535$           441,694$              288,000$              290,880$              293,789$             296,727$             299,694$             302,691$             305,718$             308,775$              311,863$              314,981$            Intergovernmental ‐                             26,685                  ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Special Assessments 2,410                     ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Special Assessments (Levied) ‐                             2,410                     2,410                     2,410                     2,410                    2,410                   2,410                   ‐                           ‐                           ‐                             ‐                            ‐                          Investment Interest (37,770)                 ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Miscellaneous ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Transfers In ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Total 1,170,175             470,789                290,410                293,290               296,199              299,137             302,104             302,691             305,718             308,775               311,863               314,981             ExpensesEngineering18,670                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Other Charges & Services28,685                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay237,130               ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (CIP)‐                             1,352,865            213,000               317,000               60,000                ‐                          ‐                          ‐                          ‐                          ‐                             100,000               ‐                          Transfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Total284,485               1,352,865            213,000               317,000               60,000                ‐                          ‐                          ‐                          ‐                          ‐                             100,000               ‐                          Cash Balance ‐ Beginning4,292,996            5,104,520            4,222,444            4,299,854            4,276,144           4,512,343          4,811,479          5,113,583          5,416,274          5,721,992            6,030,767            6,242,630          Balance Sheet Effects(74,166)                Revenues1,170,175             470,789                290,410                293,290                296,199               299,137              302,104              302,691              305,718              308,775                311,863                314,981             Expenditures (284,485)               (1,352,865)            (213,000)              (317,000)               (60,000)                ‐                           ‐                           ‐                           ‐                           ‐                             (100,000)               ‐                          Cash Balance ‐ Ending 5,104,520$           4,222,444$           4,299,854$           4,276,144$           4,512,343$          4,811,479$          5,113,583$          5,416,274$          5,721,992$          6,030,767$           6,242,630$           6,557,611$         MN Statute 462.358, Subd 2B(g) Cash payments received must be used only for the acquisition and development or improvement of parks, recreational facilities, playgrounds, trails, wetlands, or open space based on the approved park systems plan. Cash payments must not be used for ongoing Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds203-Park DevelopmentCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS3 City of OtsegoPark Equipment FundCash Flow SummaryRevised: June 15, 2022 3.23% 9.38% 7.14% 6.67% 6.25% 5.88% 5.56% 5.26% 5.00%4.76%4.55%Actual Forecast202120222023202420252026202720282029203020312032RevenuesProperty Taxes62,000$               64,000$               70,000$               75,000$               80,000$              85,000$              90,000$              95,000$              100,000$            105,000$             110,000$             115,000$            Contributions ‐ Soccer20,000                 ‐                            ‐                            10,000                 10,000                10,000               10,000               10,000               10,000               10,000                10,000                 10,000               Investment Interest(5,350)                  ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Miscellaneous46,665                 13,329                 ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Transfers In‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Total123,315               77,329                 70,000                 85,000                 90,000                95,000               100,000             105,000             110,000             115,000              120,000               125,000             ExpensesSupplies‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Other Charges & Services‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Capital Outlay‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Capital Outlay (CIP)‐                            25,000                 580,000               240,000               ‐                           ‐                          ‐                          ‐                           102,000             ‐                           ‐                             639,270             Transfers Out‐                            82,349                 ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Total‐                             107,349               580,000               240,000               ‐                           ‐                          ‐                          ‐                           102,000             ‐                           ‐                             639,270             Cash Balance ‐ Beginning604,799               718,114               688,094               178,094               23,094                113,094             208,094             308,094             413,094             421,094              536,094               656,094             Balance Sheet Effects(10,000)                Revenues123,315               77,329                 70,000                 85,000                 90,000                95,000               100,000             105,000             110,000             115,000              120,000               125,000             Expenditures‐                             (107,349)              (580,000)              (240,000)              ‐                           ‐                          ‐                          ‐                           (102,000)            ‐                           ‐                             (639,270)            Cash Balance ‐ Ending718,114$             688,094$             178,094$             23,094$               113,094$            208,094$            308,094$            413,094$            421,094$            536,094$             656,094$             141,824$            Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds205-Park EquipmentCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS4 City of OtsegoCapital Equipment Revolving FundCash Flow SummaryRevised: June 15, 2022 6.25% 5.88% 5.56% 5.26% 5.00% 4.76% 4.55% 4.35% 4.17%Actual Forecast202120222023202420252026202720282029203020312032RevenuesProperty Taxes300,000$             320,000$             340,000$             360,000$             380,000$            400,000$            420,000$            440,000$            460,000$            480,000$             500,000$             520,000$            Investment Interest(2,310)                  ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Sales of Fixed Assets‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Sales of Fixed Assets (Est.)40,000                 ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Utility Fund Contributions‐                            ‐                             149,057               173,925               191,571             201,087             248,384             261,670             276,707             276,707               294,076               297,242             Transfers In‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Total337,690               320,000               489,057               533,925               571,571             601,087             668,384             701,670             736,707             756,707               794,076               817,242             ExpensesPersonal Services‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Supplies‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Other Charges & Services‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Capital Outlay ‐ General‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Capital Outlay ‐ Buildings‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Replacement CIP ‐ Buildings‐                            ‐                            39,256                 ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           36,868                 ‐                           ‐                          Additions CIP ‐ Buildings‐                            ‐                            39,256                 ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Capital Outlay ‐ Streets300,228               48,034                 ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Replacement CIP ‐ Streets‐                             ‐                             387,473                269,913                550,867              448,491              343,079              199,222              112,103              22,944                  777,271                362,020             Additions CIP ‐ Streets ‐                             ‐                             38,000                  100,000                61,000                ‐                           ‐                           160,000              215,058              ‐                             ‐                            ‐                          Capital Outlay ‐ Parks 69,716                  ‐                             ‐                             ‐                             ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                            ‐                          Replacement CIP ‐ Parks ‐                             ‐                             85,240                  17,763                  ‐                           73,808                48,068                255,700              147,804              26,379                  103,321                ‐                          Additions CIP ‐ Parks ‐                             ‐                             73,427                  78,000                  61,000                ‐                           63,654                ‐                           ‐                            ‐                             ‐                            ‐                          Replacement CIP ‐ Utilities ‐                             ‐                             58,000                  153,798                ‐                           487,938              179,922              121,294              ‐                            200,000                55,420                 241,326             Transfers Out ‐                             ‐                             ‐                             ‐                             ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                            ‐                          Total 369,944                48,034                  720,652                619,474                672,867              1,010,237           634,723              736,216              474,965             286,191               936,012               603,346             Cash Balance ‐ Beginning390,669               358,415               630,381               398,786               313,237             211,941             (197,209)            (163,548)            (198,094)            63,648                 534,164               392,228             Balance Sheet Effects‐                            Revenues337,690               320,000               489,057               533,925               571,571             601,087             668,384             701,670             736,707             756,707               794,076               817,242             Expenditures(369,944)              (48,034)                (720,652)              (619,474)              (672,867)            (1,010,237)         (634,723)            (736,216)            (474,965)            (286,191)              (936,012)              (603,346)            Cash Balance ‐ Ending358,415$             630,381$             398,786$             313,237$             211,941$            (197,209)$           (163,548)$           (198,094)$           63,648$              534,164$             392,228$             606,124$            Cash Balance ‐ % of Next Year Capital746%87%64%47%21%‐31%‐22%‐42%22%57%65%Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds206-Capital EquipmentCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS5 City of OtsegoCapital Equipment Revolving FundCash Flow SummaryRevised: June 15, 2022 48.23% 11.07% 8.90% 7.74% 9.25% 4.64% 6.46% 3.84%2.07%4.69%Actual Forecast202120222023202420252026202720282029203020312032RevenuesProperty Taxes300,000$             320,000$             ‐$                          ‐$                          ‐$                         ‐$                         ‐$                         ‐$                         ‐$                          ‐$                          ‐$                         ‐$                         Property Taxes (Building)‐                            ‐                            5,996                    14,028                 14,028               14,028               14,028               14,028               14,028               14,028                 15,798                15,798               Property Taxes (Streets)‐                            ‐                             398,553               420,381               452,588             492,978             518,047             534,647             567,899             599,103               600,205               641,709             Property Taxes (Parks)‐                            ‐                            75,797                 90,759                 103,158             112,187             115,731             127,461             139,740             146,837               148,104               153,060             Investment Interest(2,310)                  ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Sales of Fixed Assets‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Sales of Fixed Assets (Est.)40,000                 ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Utility Fund Contributions‐                            ‐                             149,057               173,925               191,571             201,087             248,384             261,670             276,707             276,707               294,076               297,242             Transfers In‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Total337,690               320,000               629,403               699,093               761,345             820,280             896,190             937,806             998,374             1,036,675            1,058,183            1,107,809          ExpensesCapital Outlay ‐ Building‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Replacement CIP ‐ Buildings‐                            ‐                            39,256                 ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           36,868                 ‐                           ‐                          Additions CIP ‐ Buildings‐                            ‐                            39,256                 ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Capital Outlay ‐ Streets300,228               48,034                 ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Replacement CIP ‐ Streets‐                            ‐                             387,473               269,913               550,867             448,491             343,079             199,222             112,103             22,944                 777,271               362,020             Additions CIP ‐ Streets‐                            ‐                            38,000                 100,000               61,000               ‐                          ‐                           160,000             215,058             ‐                            ‐                           ‐                          Capital Outlay ‐ Parks69,716                 ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Replacement CIP ‐ Parks‐                            ‐                            85,240                 17,763                 ‐                          73,808               48,068               255,700             147,804             26,379                 103,321               ‐                          Additions CIP ‐ Parks‐                            ‐                            73,427                 78,000                 61,000               ‐                          63,654               ‐                          ‐                           ‐                            ‐                           ‐                          Replacement CIP ‐ Utilities‐                            ‐                            58,000                 153,798               ‐                           487,938             179,922             121,294             ‐                            200,000               55,420                241,326             Transfers Out‐                            ‐                            ‐                            ‐                            ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           ‐                          Total369,944               48,034                 720,652               619,474               672,867             1,010,237          634,723             736,216             474,965             286,191               936,012               603,346             Cash Balance ‐ Beginning390,669               358,415               630,381               539,132               618,751             707,229             517,272             778,739             980,329             1,503,738            2,254,222            2,376,393          Balance Sheet EffectsRevenues337,690               320,000               629,403               699,093               761,345             820,280             896,190             937,806             998,374             1,036,675            1,058,183            1,107,809          Expenditures(369,944)              (48,034)                (720,652)              (619,474)              (672,867)            (1,010,237)         (634,723)            (736,216)            (474,965)            (286,191)              (936,012)              (603,346)            Cash Balance ‐ Ending358,415$             630,381$             539,132$             618,751$             707,229$            517,272$            778,739$            980,329$            1,503,738$         2,254,222$          2,376,393$          2,880,856$         Cash Balance ‐ % of Next Year Capital746%87%87%92%70%81%106%206%525%241%394%Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds206-NEWCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS6 City of OtsegoFire Reserves FundCash Flow SummaryRevised: June 15, 2022Actual Forecast2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032RevenuesProperty Taxes 190,000$              200,000$              210,000$              220,000$              230,000$             ‐$                          ‐$                          ‐$                          ‐$                          ‐$                           ‐$                          ‐$                         Property Taxes (Debt Service) ‐                             ‐                             ‐                             ‐                             ‐                            897,994              895,448              897,401              893,135              893,120                897,110                894,338             Special Assessments 202                        ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Investment Interest (15,083)                 ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Intergovernmental ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Miscellaneous ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            574,252             Debt Issuance ‐                             ‐                             ‐                             ‐                             10,000,000          ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Transfers In ‐                             ‐                             ‐                             ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Total175,119               200,000               210,000               220,000               10,230,000         897,994             895,448             897,401             893,135             893,120               897,110               1,468,590          ExpensesFire Study9,410                    ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Other Charges & Services‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (Land)‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                             200,000               200,000             Capital Outlay (Equipment)‐                            ‐                            ‐                             260,375               2,450,000           320,000             ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (Building)‐                            ‐                            ‐                             550,000               9,000,000           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Debt Service‐                            ‐                            ‐                            ‐                            ‐                            757,849             849,020             846,238             847,636             843,098               842,490               845,570             Transfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Total9,410                    ‐                            ‐                             810,375               11,450,000         1,077,849          849,020             846,238             847,636             843,098               1,042,490            1,045,570          Cash Balance ‐ Beginning1,791,201            1,961,368            2,161,368            2,371,368            1,780,993           560,993             381,138             427,566             478,729             524,228               574,250               428,870             Balance Sheet Effects4,458                    Revenues175,119               200,000               210,000               220,000               10,230,000         897,994             895,448             897,401             893,135             893,120               897,110               1,468,590          Expenditures(9,410)                  ‐                            ‐                             (810,375)              (11,450,000)       (1,077,849)         (849,020)            (846,238)            (847,636)            (843,098)              (1,042,490)           (1,045,570)         Cash Balance ‐ Ending1,961,368$          2,161,368$          2,371,368$          1,780,993$          560,993$            381,138$            427,566$            478,729$            524,228$            574,250$             428,870$             851,890$            DISCLAIMER - TIMING AND COSTS OF FIRE CAPITAL PROJECTS FOR ILLUSTRATIVE PURPOSES ONLYProjection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds214-Fire ReserveCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS7 City of OtsegoMSA Construction FundCash Flow SummaryRevised: June 15, 2022Actual Forecast2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032RevenuesIntergovernmental 713,726$              874,432$              ‐$                           ‐$                           ‐$                          ‐$                          ‐$                          ‐$                          ‐$                          ‐$                           ‐$                           ‐$                         Special Assessments ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                          Investment Interest ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                          Miscellaneous ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                          Transfers In ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                          Total 713,726                874,432                ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                          ExpensesEngineering ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                          Other Charges & Services 1,563                     ‐                             ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Capital Outlay‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Capital Outlay (CIP)‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Transfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Total1,563                    ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Cash Balance ‐ Beginning(321,401)              (612,136)              (612,136)              (612,136)              (612,136)             (612,136)            (612,136)            (612,136)            (612,136)            (612,136)             (612,136)              (612,136)            Balance Sheet Effects(1,002,898)           (874,432)              Revenues713,726               874,432               ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Expenditures(1,563)                  ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                          Cash Balance ‐ Ending(612,136)$            (612,136)$            (612,136)$            (612,136)$            (612,136)$           (612,136)$           (612,136)$           (612,136)$           (612,136)$           (612,136)$            (612,136)$            (612,136)$           MSA Annual Allottment713,726$             874,432$             874,432$             874,432$             874,432$            874,432$            874,432$            874,432$            874,432$            874,432$             874,432$             874,432$            MSA Disbursements‐$                          ‐$                          MSA Fund Balance(2,910,929)$        (2,036,497)$        (1,162,065)$        (287,633)$            586,799$            1,461,231$         2,335,663$         3,210,095$         4,084,527$         4,958,959$          5,833,391$          6,707,823$         Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds403-MSA ConstructionCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS8 City of OtsegoNorth Mississippi WatershedCash Flow SummaryRevised: June 15, 2022Actual Forecast2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032RevenuesDevelopment Fees ‐$                          ‐$                          ‐$                          ‐$                          ‐$                         ‐$                         ‐$                         ‐$                         ‐$                         ‐$                          ‐$                         ‐$                         Investment Interest‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Special Assessments (Actual)2,760                    ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Special Assessments (Levied)‐                            2,760                    2,760                    2,760                    2,760                   2,760                  2,760                  ‐                          ‐                          ‐                           ‐                           ‐                          Transfers In‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Total2,760                    2,760                    2,760                    2,760                    2,760                   2,760                  2,760                  ‐                          ‐                          ‐                           ‐                           ‐                          ExpensesSupplies‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Other Charges & Services‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Capital Outlay‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Capital Outlay (CIP)‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Transfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Total‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Cash Balance ‐ Beginning(276,424)              (273,664)              (276,424)              (273,664)              (270,904)             (268,144)            (265,384)            (262,624)            (262,624)            (262,624)             (262,624)              (262,624)            Balance Sheet Effects‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Revenues2,760                    2,760                    2,760                    2,760                    2,760                   2,760                  2,760                  ‐                          ‐                          ‐                           ‐                           ‐                          Expenditures‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ‐                          Cash Balance ‐ Ending(273,664)$            (270,904)$            (273,664)$            (270,904)$            (268,144)$           (265,384)$           (262,624)$           (262,624)$           (262,624)$           (262,624)$            (262,624)$            (262,624)$           ProjectedY:\Budget\2023\Cash Flows\Capital Funds405-NoMissWSCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS9 City of OtsegoLefebvre Creek WatershedCash Flow SummaryRevised: June 15, 2022Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Forecast20122013201420152016201720182019202020212022RevenuesDevelopment Fees‐$                          ‐$                           111,883$             ‐$                          27,468$              133,587$            127,999$            ‐$                         ‐$                         88,577$               ‐$                         Investment Interest‐                            ‐                            (1,447)                  ‐                            87                        903                     3,409                  10,541               9,552                  (2,956)                 ‐                           Miscellaneous‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Transfers In‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Total‐                            ‐                             110,436               ‐                            27,555                134,490             131,408             10,541               9,552                  85,621                ‐                           ExpensesSupplies‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Other Charges & Services‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Capital Outlay‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Capital Outlay (CIP)‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Transfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Total‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Cash Balance ‐ Beginning(126,813)              (126,813)              (126,813)              (16,377)                (16,377)               11,178               145,668             277,076             287,617             297,169              382,790               Balance Sheet Effects‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Revenues‐                            ‐                             110,436               ‐                            27,555                134,490             131,408             10,541               9,552                  85,621                ‐                           Expenditures‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Cash Balance ‐ Ending(126,813)$            (126,813)$            (16,377)$              (16,377)$              11,178$              145,668$            277,076$            287,617$            297,169$            382,790$             382,790$             Y:\Budget\2023\Cash Flows\Capital Funds406-LefebvreCreekWSCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS10 City of OtsegoOtsego Creek WatershedCash Flow SummaryRevised: June 15, 2022Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Forecast20122013201420152016201720182019202020212022RevenuesDevelopment Fees‐$                          ‐$                          79,375$               29,766$               182,164$            85,820$              141,596$            180,740$            345,704$            251,124$             115,366$             Investment Interest8,060                    (2,582)                  9,898                    ‐                            6,757                   9,513                  16,912               40,872               37,965               (12,056)               ‐                           Miscellaneous‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Transfers In‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Total8,060                    (2,582)                  89,273                 29,766                 188,921              95,333               158,508             221,612             383,669             239,068              115,366               ExpensesSupplies3,396                    ‐                            20                         ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Other Charges & Services17,432                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          563                      ‐                           Capital Outlay‐                            ‐                            ‐                            ‐                            ‐                           ‐                          29,356               ‐                          ‐                          ‐                           ‐                           Capital Outlay (CIP)‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Transfers Out‐                            ‐                            60,900                 ‐                            ‐                           ‐                           241,294             ‐                          ‐                          ‐                           ‐                           Total20,828                 ‐                            60,920                 ‐                            ‐                           ‐                           270,650             ‐                          ‐                          563                      ‐                           Cash Balance ‐ Beginning679,526               666,758               661,346               692,529               722,295              911,216             1,006,549          894,407             1,116,019          1,499,688           1,738,756            Balance Sheet Effects‐                            (2,830)                  2,830                    ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          563                      ‐                           Revenues8,060                    (2,582)                  89,273                 29,766                 188,921              95,333               158,508             221,612             383,669             239,068              115,366               Expenditures(20,828)                ‐                             (60,920)                ‐                            ‐                           ‐                           (270,650)            ‐                          ‐                          (563)                     ‐                           Cash Balance ‐ Ending666,758$             661,346$             692,529$             722,295$             911,216$            1,006,549$         894,407$            1,116,019$         1,499,688$         1,738,756$          1,854,122$          Y:\Budget\2023\Cash Flows\Capital Funds408-OtsegoCreekWSCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS11 City of OtsegoCrow River WatershedCash Flow SummaryRevised: June 15, 2022Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Forecast20122013201420152016201720182019202020212022RevenuesDevelopment Fees‐$                          ‐$                          ‐$                          ‐$                          ‐$                         ‐$                         ‐$                         ‐$                         ‐$                         ‐$                          ‐$                         Investment Interest‐                            ‐                            (177)                      ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Miscellaneous‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Transfers In‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Total‐                            ‐                            (177)                      ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           ExpensesSupplies‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Other Charges & Services‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Capital Outlay‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Capital Outlay (CIP)‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Transfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Total‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Cash Balance ‐ Beginning(11,814)                (11,814)                (11,814)                (11,991)                (11,991)               (11,991)              (11,991)              (11,991)              (11,991)              (11,991)               (11,991)                Balance Sheet Effects‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Revenues‐                            ‐                            (177)                      ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Expenditures‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                           Cash Balance ‐ Ending(11,814)$              (11,814)$              (11,991)$              (11,991)$              (11,991)$             (11,991)$             (11,991)$             (11,991)$             (11,991)$             (11,991)$              (11,991)$              Y:\Budget\2023\Cash Flows\Capital Funds410-CrowRiverWSCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS12 City of OtsegoCapital Improvements FundCash Flow SummaryRevised: June 15, 2022Actual Forecast2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032RevenuesProperty Taxes 661,000$              1,175,590$           1,264,315$           ‐$                           ‐$                          ‐$                          ‐$                          ‐$                          ‐$                          ‐$                           ‐$                          ‐$                         Intergovernmental ‐                             ‐                             ‐                             297,000                ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Special Assessments 27,142                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Special Assessments (Levied) ‐                             27,557                  26,791                 26,026                  25,260                 24,495                6,945                   5,076                   4,915                   ‐                             ‐                            ‐                          Investment Interest (15,301)                 ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Tax Abatement ‐ City ‐                             40,228                  87,744                 87,744                  87,744                 87,744                87,744                87,744                87,744                87,744                  87,744                  70,076               Tax Abatement ‐ County ‐                             35,804                  97,252                 97,252                  97,252                 72,440                ‐                           ‐                           ‐                           ‐                             ‐                            ‐                          Sales of Capital Assets ‐                             ‐                             ‐                             ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Miscellaneous‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Transfers In2,134,846            1,266,290            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Total2,807,687            2,545,469            1,476,102            508,022               210,256              184,679             94,689               92,820               92,659               87,744                 87,744                 70,076               ExpensesCapital Outlay ‐ General‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay ‐ Public Safety‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay ‐ Public Works199,995               150,236               ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay ‐ Parks‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay ‐ Econ Dev‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (Streets CIP)‐                             330,000               50,000                ‐                            ‐                           38,000               ‐                          40,000               ‐                          ‐                            ‐                           ‐                          Capital Outlay (County CIP)‐                             341,861               ‐                             975,000               ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (Property CIP)‐                            50,000                 ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Development Incentives‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Transfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Total199,995               872,097               50,000                975,000               ‐                           38,000               ‐                          40,000               ‐                          ‐                            ‐                           ‐                          Cash Balance ‐ Beginning1,609,498            4,128,780            5,802,152            7,228,254            6,761,276           6,971,532          7,118,211          7,212,900          7,265,720          7,358,379            7,446,123            7,533,867          Balance Sheet Effects(88,410)                Revenues2,807,687            2,545,469            1,476,102            508,022               210,256              184,679             94,689               92,820               92,659               87,744                 87,744                 70,076               Expenditures(199,995)              (872,097)              (50,000)                (975,000)              ‐                           (38,000)              ‐                          (40,000)              ‐                          ‐                            ‐                           ‐                          Cash Balance ‐ Ending4,128,780$          5,802,152$          7,228,254$          6,761,276$          6,971,532$         7,118,211$         7,212,900$         7,265,720$         7,358,379$         7,446,123$          7,533,867$          7,603,943$         Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds414-Capital Imp.CAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS13 City of OtsegoCity Buildings & Property MaintenanceCash Flow SummaryRevised: June 15, 2022 16.67% 14.29% 12.50% 11.11% 10.00% 9.09% 8.33% 7.69%7.14%6.67%Actual Forecast202120222023202420252026202720282029203020312032RevenuesProperty Taxes25,000$               30,000$               35,000$               40,000$               45,000$              50,000$              55,000$              60,000$              65,000$              70,000$               75,000$               80,000$              Investment Interest(654)                      ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Miscellaneous‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Debt Issuance‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Transfers In‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Total24,346                 30,000                 35,000                40,000                 45,000                50,000               55,000               60,000               65,000               70,000                 75,000                 80,000               ExpensesSupplies‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Other Charges & Services8,500                    ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (City Hall)8,989                    28,750                 ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (Prairie Center)‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (CIP)‐                            54,151                 22,000                10,000                 10,000                ‐                          ‐                          ‐                          ‐                          70,000                 ‐                           ‐                          Capital Outlay (IT CIP)‐                            ‐                            ‐                            ‐                            60,000                ‐                          50,000               ‐                           150,000             70,000                 ‐                           ‐                          Transfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Total17,489                 82,901                 22,000                10,000                 70,000                ‐                          50,000               ‐                           150,000             140,000               ‐                           ‐                          Cash Balance ‐ Beginning84,135                 90,992                 38,091                51,091                 81,091                56,091               106,091             111,091             171,091             86,091                 16,091                 91,091               Balance Sheet EffectsRevenues24,346                 30,000                 35,000                40,000                 45,000                50,000               55,000               60,000               65,000               70,000                 75,000                 80,000               Expenditures(17,489)                (82,901)                (22,000)                (10,000)                (70,000)               ‐                          (50,000)              ‐                           (150,000)            (140,000)              ‐                           ‐                          Cash Balance ‐ Ending90,992$               38,091$               51,091$               81,091$               56,091$              106,091$            111,091$            171,091$            86,091$              16,091$               91,091$               171,091$            Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds439-Buildings & PropertyCAPITAL PROJECT FUNDS - CASH FLOW PROJECTIONS14 City of Otsego Property Tax Abatement Schedule Parview Retail Revised: June 6, 2022 2022 2023 2024 2025 2026 2027 Estimated for Levy Coborn's 34,921                 36,229                Parkview Grand 5,307                    49,092                Heartland Dental & Dunkin' ‐                            2,423                   Total Levy 40,228                87,744               ‐                          ‐                           ‐                           ‐                           Actual City Taxes Coborn's 34,980.96            Parkview Grand 5,315.78              Heartland Dental & Dunkin'‐                        Total City Tax Abatement 40,296.74           ‐                      ‐                      ‐                       ‐                       ‐                       Actual County Taxes Coborn's 44,303.38            Parkview Grand 6,732.30              Subtotal County Taxes 51,035.68            Less: 10% County Retained (5,103.57)             Total County Tax Abatement 45,932.11           ‐                      ‐                      ‐                       ‐                       ‐                       Estimated for Budget 45,735                97,252                Difference 197                       Calculation of Estimated Property Taxes Coborn's Taxable Market Value (Assessment from County Website)5,100,600           5,281,200           Tax Capacity (Commercial)101,262              104,874              City Tax Rate (Update for TNT Rates)34.486 34.545 County Tax Rate (Update for TNT Rates)43.564 43.751 Estimated City Taxes = Abatement 34,921                36,229                Estimated County Taxes 44,114                 45,883                90% Per Agreement = Abatement 39,702                41,295                Parkview Grand Taxable Market Value (Assessment from County Website) 1,231,000            11,368,800         Tax Capacity (Apartments) 15,388                 142,110              City Tax Rate (Update for TNT Rates) 34.486 34.545 County Tax Rate (Update for TNT Rates) 43.564 43.751 Estimated City Taxes = Abatement 5,307                    49,092                Estimated County Taxes 6,703                    62,175                90% Per Agreement = Abatement 6,033                    55,957                Heartland Dentail & Dunkin' Taxable Market Value (Assessment from County Website) 388,200              Tax Capacity (Commercial) 7,014                   City Tax Rate (Update for TNT Rates) 34.545 Estimated City Taxes = Abatement 2,423                   Amortization of Tax Abatement Improvement Project Beginning Ending Activity Code #6202001 (as of 6/6/2022)949,187              Balance City County Balance 2022 949,187             (40,228)               (45,932)               863,027              2023 863,027             (87,744)               775,283              2024 775,283             775,283              2025 775,283             775,283              2026 775,283             775,283              2027 775,283             775,283              2028 775,283             775,283              2029 775,283             775,283              2030 775,283             775,283              2031 775,283             775,283              2032 775,283             775,283              TAX ABATEMENT LEVY CALCULATION City of Otsego Property Tax Levy Calculations Payable 2023 Revised: June 24, 2022 $% $% 2021 2022 2023 Change Change 2023 Change Change General Revenues 4,671,000        5,009,000        5,259,450      250,450          5.00% 5,259,450        250,450          5.00% Tax Abatements 45,874              40,228              87,744            47,516            118.12% 87,744              47,516            118.12% Debt Service Series 2010B 460,000            ‐                        ‐                       ‐                       ‐                         ‐                       Series 2018A 94,551              97,187              94,415            (2,772)             94,415              (2,772)             Series 2020A 195,000            450,000            450,000          ‐                       450,000            ‐                       **NEW** ‐                         ‐                        ‐                       ‐                       ‐                         ‐                       Sub‐total 749,551            547,187            544,415          (2,772)             ‐0.51% 544,415            (2,772)             ‐0.51% Capital Reserves Pavement Management 1,050,000        1,100,000        1,100,000      ‐                       1,100,000        ‐                       Trails Management 40,000              63,000              65,000            2,000              65,000              2,000              Parks Equipment 62,000              64,000              70,000            6,000              70,000              6,000              Capital Equipment Revolving 300,000            320,000            480,346          160,346          480,346            160,346          Fire Reserve 190,000            200,000            210,000          10,000            210,000            10,000            Storm Water 34,000              36,000              38,000            2,000              38,000              2,000              Capital Improvements 661,000            1,175,590        ‐                       (1,175,590)    ‐                         (1,175,590)     City Buildings & Property 25,000             30,000             35,000           5,000             35,000             5,000              Sub‐total 2,362,000       2,988,590       1,998,346     (990,244)       ‐33.13% 1,998,346       (990,244)       ‐33.13% Tax Rate Management (Flexibility)2,480,371     1,264,315        Grand Total 7,828,425       8,585,005       10,370,326   1,785,321     20.80% 9,154,270       569,265         6.63% Growth (%)8.82% 9.66% Tax Capacity 22,876,221     25,254,743     30,504,905   30,504,905      Growth (%)10.29% 10.40%20.79%20.79% Net Tax Capacity 22,591,258     24,852,871     30,019,489   30,019,489      Growth (%)10.22% 10.01%20.79%20.79% Tax Rate 34.653             34.545             34.545           30.494              Population 18,130             19,966             21,289           21,289              Tax Levy Per Capita 432                  430                  487                430                   Taxing 2021 2022 2023 2023 Authority Final Tax Rate Final Tax Rate Estimate Change Estimate Change City of Otsego 34.653             34.545             34.545           ‐0.31%30.494             ‐11.73% Wright County 43.719             43.751             43.751           0.07%43.751             0.00% School District 31.717             30.889             30.889           ‐2.61%30.889             0.00% School District ‐ RMV 30.598             28.698             28.698           ‐6.21%28.698             0.00% Description 2021 2022 2023 Change 2023 Change Median Appraised Value 258,455           290,081           328,710         13.32%328,710           13.32% Less: MV Exclusion (13,979)           (11,133)           (7,656)            (7,656)               Taxable Market Value 244,476           278,948           321,054         15.09%321,054           15.09% Tax Capacity 2,445               2,789               3,211             3,211                2021 2022 2023 2023 Taxing Estimated Estimated Estimated Estimated Authority Tax Tax Tax Change Tax Change City of Otsego 847                  964                  1,109             15.04%979                  1.56% Wright County 1,069               1,220               1,405             15.16%1,405               15.16% School District 775                  862                  992                15.08%992                  15.08% School District ‐ RMV 791                  832                  943                13.34%943                  13.34% Total 3,482               3,878               4,449             14.72%4,319               11.37% Annual Increase 571                441                   Illustration #1 Illustration #2 Levy Description Y:\Budget\2023\Property Taxes\Tax Levy Calculations (2023)6‐27 TAX LEVY SUMMARY - PAYABLE 2023 City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163        TO:     Mayor and City Council    FROM:    Adam Flaherty, City Administrator & Finance Director      Sabrina Hille, Assistant City Administrator & Human Resources    DATE:     June 27, 2022    SUBJECT:   2023‐2027 Staffing Plan      The City’s 2022 Strategic Plan includes a strategic direction of Positioning for Growth, which includes a first‐ year action item to develop future staffing projections.     In preparation of the 2023 budgeting discussions, City staff has developed a draft five‐year staffing plan.  This outlook will be a benefit to the City as it will provide:  ‐ An opportunity for the City Council to question and comment upon future staffing needs.  ‐ A planning document that will aid in budgeting.  ‐ A document that looks beyond the current year.  ‐ A familiar document that will be reviewed and updated annually.    Population and Population per Staff Member    2023-2027 DRAFT STAFFING PLAN 1 City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163    Administration Departments        2023 Requests  The Administrative Intern position was added for the 2022 budget year. City staff would recommend that  this position become a temporary position on an annual basis.    2024 – 2027 Forecasted Positions  ‐ Emergency Manager; 2024  ‐ Communications; 2024  ‐ Information Technology; 2024  ‐ Building Permit Technician; 2024  ‐ Finance Clerk; Part‐Time in 2026 and Full‐Time in 2027  ‐ Payroll Clerk; 2027  2023-2027 DRAFT STAFFING PLAN 2 City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  Public Works Department        2023 Requests  There are no recommendations for changes.    2024 – 2027 Forecasted Positions  ‐ Building Maintenance; 2024  ‐ Mechanic; 2024  ‐ Administrative Assistant; Part‐Time in 2025 and Full‐Time in 2027  ‐ Street Maintenance I; 2026    2023-2027 DRAFT STAFFING PLAN 3 City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  Parks and Recreation Department      2023 Requests  Parks and Recreation Department Reorganization  The Parks and Recreation Department is currently in a transition period brought on by continued growth in  the City’s parks and trails infrastructure along with continued growth in recreational programming and  community events. In addition to the growth impacts, the Parks and Recreation Director position is  currently being filled with an interim designation.    A transition period is a good time to explore organizational structure and to build for future departmental  success. Through many staff discussions, a few changes are being proposed:    ‐ Lead Parks Maintenance: Recommendation for position title to change to Parks Foreperson, which  would be consistent with Public Works and Utility departments. The job description would be  reviewed with comparable positions, and if changes were to occur, the position would be rescored.    ‐ Parks Maintenance I: Recommendation for the job description to include certain criteria to be able  to advance staff from this position to the Parks Maintenance II position. This would be consistent  with advancement opportunities in the Public Works and Utility departments. The job description  would be reviewed with comparable positions, and if changes were to occur, the position would be  rescored.    2023-2027 DRAFT STAFFING PLAN 4 City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  ‐ Parks Maintenance II: Recommendation for the job description to be updated to include duties and  responsibilities from the Operations Coordinator position. The job description would be reviewed  with comparable positions, and if changes were to occur, the position would be rescored.    ‐ Operations Coordinator: Recommendation for this job description to be abolished.    Parks Maintenance I Addition  The Parks and Recreation Department is requesting a staff addition in 2023. Since the last staffing addition,  the department has added two parks (approximately 65 acres), 8 roundabouts, and over 10 miles of trails.  With our aging infrastructure, staff is spending considerably more time providing reactive maintenance to  things like irrigation, playgrounds, and natural areas. This impacts the amount of time that proactive  maintenance can occur.  Proactive maintenance refers to things like playground inspections, irrigation  proficiency, tree trimming, natural area maintenance, and trail maintenance.      The proposed position would allow the Parks and Recreation Department to continue to provide quality  service through an increase in proactive maintenance. Greater support for programming and special events,  and continued proficiency in snow removal of trails, cul‐de‐sacs, and ice rinks. Through proactive  maintenance, staff would be able to do more training in best practices, which would increase efficiencies  with things like irrigation management, natural restoration, turf maintenance, and forestry. Which will  allow staff to identify problem areas before they occur which increases safety and lessens potential user  complaints.      Estimated Cost: ~ $65,000 (Pending pay grade and benefit renewals)  Budget Impact: ~ $50,000 (First year less than 12 months)  Proposed Timing: April 2023    2024 – 2027 Forecasted Positions  ‐ Recreation Programmer; 2025  ‐ Parks Maintenance I; 2027        2023-2027 DRAFT STAFFING PLAN 5 City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  Utilities Department        2023 Requests    Utility Operator Addition  The Utility Department is requesting an Operator addition within 2023 supporting operations and  maintenance of the City’s water and wastewater systems.  The addition aligns with capacity expansion of  the West Wastewater Treatment Facility, community growth and customer service needs.  The staffing  addition allows for Facility construction collaboration paralleling onboarding as team specialization  progresses, focusing divisionally within Wastewater Treatment, Water and Collection and Distribution  Services.    Estimated Cost: ~ $65,000 (Pending pay grade and benefit renewals)  Budget Impact: ~ $45,000 (First year less than 12 months)  Proposed Timing: May 2023    2024 – 2027 Forecasted Positions  ‐ Utility Operators (2); 2024  ‐ Administrative Assistant; 2025  ‐ Utility Foreperson; 2026  ‐ Utility Operator; 2027  2023-2027 DRAFT STAFFING PLAN 6 City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  2023 Proposed Organizational Chart        2023‐2027 Outlook  2023 2024 2025 2026 2027 Additions Administration ‐                    1.00                  ‐                    ‐                    ‐                    Emergency Management ‐                    1.00                  ‐                    ‐                    ‐                    Finance ‐                    ‐                    ‐                    0.50                  0.50                  Information Technology ‐                    1.00                  ‐                    ‐                    ‐                    Human Resources ‐                    ‐                    ‐                    ‐                    1.00                  Building Safety ‐                    1.00                  ‐                    ‐                    ‐                    City Buildings ‐                    1.00                  ‐                    ‐                    ‐                    Streets & Fleet ‐                    1.00                  0.50                  1.00                  0.50                  Parks & Recreation 1.00                  ‐                    1.00                  ‐                    1.00                  Utilities 1.00                  2.00                  1.00                  1.00                  1.00                  Total of Additions 2.00                  8.00                  2.50                  2.50                  4.00                  Beginning Staff 32.00                34.00                42.00                44.50                47.00                Ending Staff 34.00                42.00                44.50                47.00                51.00                              2023-2027 DRAFT STAFFING PLAN 7 City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441‐4414 Fax (763) 441‐9163  2024 ‐ 2027 Forecasted Positions    2024 (+8)  ‐ Emergency Manager  ‐ Communications  ‐ Information Technology  ‐ Building Permit Technician  ‐ Building Maintenance  ‐ Mechanic  ‐ Utility Operator  ‐ Utility Operator    2025 (+2.5)  ‐ Public Works Administrative Assistant (PT)  ‐ Recreation Programmer  ‐ Public Utilities Administrative Assistant    2026 (+2.5)  ‐ Finance Clerk (PT)  ‐ Street Maintenance  ‐ Utility Foreperson    2027 (+4)  ‐ Finance Clerk (PT to FT)  ‐ Payroll Clerk  ‐ Public Works Administrative Assistant (PT to FT)  ‐ Parks Maintenance  ‐ Utility Operator        Disclaimer  It should be noted that inclusion of a staff addition within this outlook does not commit final approval by  the City Council. Rather, it directs City staff to plan towards and gather necessary information for an  educated final approval on each respective addition. Each individual addition is planned, researched, and  brought back to the City Council for final approval when the respective staffing addition is ready to move  forward.    2023-2027 DRAFT STAFFING PLAN 8 Taxes Utilities Wages & Running  Wages & Running  Percentage Percentage Payroll Taxes Total Increase Payroll Taxes Total Increase over 0% COLA over 2022 0.00%2,129,527             715,324               4.87% 0.50%2,139,306             9,779                    718,684               3,360                  0.46% 5.35% 1.00%2,149,084             19,557                 722,045               6,721                  0.92% 5.84% 1.50%2,158,862             29,335                 725,406               10,082                1.39% 6.32% 2.00%2,168,641             39,114                 728,767               13,443                1.85% 6.81% 2.50%2,178,419             48,892                 732,127               16,803                2.31% 7.29% 3.00%2,188,198             58,671                 735,488               20,164                2.77% 7.77% 3.50%2,197,976             68,449                 738,849               23,525                3.23% 8.26% 4.00%2,207,754             78,227                 742,209               26,885                3.69% 8.74% 4.50%2,217,533             88,006                 745,570               30,246                4.16% 9.23% 5.00%2,227,311             97,784                 748,931               33,607                4.62% 9.71% 5.50%2,237,090             107,563                752,291               36,967                5.08% 10.20% 6.00%2,246,868             117,341                755,652               40,328                5.54% 10.68% 2022 2,047,057             665,713                COLA CALCULATION City of OtsegoFund Balance Policy General Fund Transfer2022Calculation Comments2022 General Fund Budget 7,347,416             Resolution 2021‐100Minimum Fund Balance 3,306,337             The City's Fund Balance states that the minimum General Fund Balance should be 45% of the subsequent year budget.2021 Ending Fund Balance 5,199,901             Per Audited Financial Statements(245,758)              Less: Fund Balance from Insurance Reserve Fund (#204) ‐ Grouped with General for Financial Reporting(27,043)                 Less: Fund Balance from Educational Programming Fund (#215) ‐ Grouped with General for Financial Reporting(152,273)              Less: Nonspendable Fund Balance ‐ Financial Reporting Requirement ‐ Funds actually have alredy been expended.(202,200)              Less: Nonspendable Fund Balance ‐ Financial Reporting Requirement ‐ Future funds from land for resale proceeds.4,572,627             Fund Balance Available (Unassigned)Transfer 1,266,290             DRAFT ‐ Presented to City Council on Month XX, 2022Y:\Budget\2023\Calculation of Fund Balance Policy Transfers2022FUND BALANCE POLICY TRANSFER