RES 2022-98 Adopting the 2023 Annual Operating BudgetsCITY OF OTSEW
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2022-98
ADOPTING THE 2023
ANNUAL OPERATING BUDGETS
WHEREAS, the Otsego City Council has on December 12, 2022, held a public meeting to allow for public
comment before adopting a final budget and certifying a final property tax levy; and
WHEREAS, the Otsego City Council has reviewed the proposed General, Public Utility, Debt Service and
Special Revenue fund budgets and has determined the budget is adequate to fund the respective fund
operations for the year 2023.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA:
1. That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the General fund for 2023 as follows.
Revenues
Property Taxes $5,354,550
Cable Franchise Fees 133,000
Licenses and Permits 11695,523
Intergovernmental 92,300
Charges for Services 268,776
Miscellaneous 432,500
Total Revenues 7 976 649
Expenditures
General Government $1,783,425
Public Safety 31406,292
Public Works 11737,827
Parks and Recreation 935,745
Economic Development 113,360
Total Expenditures 7 976 649
1
2. That the following revenues and expenses (summarized) be authorized as the final budget for the
operation of the Public Utility funds for 2023 as follows;
Revenues
Operating $6,092,230
Non -Operating 315,433
Availability & Connection Charges 31855,100
Special Assessments 4330411
Bond Proceeds 10,245,000
Total Revenues 20.941.174
Expenses
Operating $3,084,898
Capital Outlay 28,312,777
Depreciation 31629,859
Debt Service 41738,949
Transfers to Other Funds 46%657
Total Expenses 40.236.140
3. That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Debt Service funds for 2023 as follows.
Revenues
Property Taxes
Special Assessments
Total Revenues
Expenditures
Principal
Interest and Fiscal Agent Fee's
Total Expenditures
$544,416
186,238
730 654
$685,000
120,406
805 406
4. That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Special Revenue funds for 2023 as follows;
Revenues
Tax Increments 489 198
Total Revenues 489 198
Expenditures
Economic Development $459,226
Total Expenditures 459 226
ADOPTED by the Otsego City Council this 12th day of December, 2022,
MOTION BY: Darkenwald
SECONDED BY: Moores
IN FAVOR: Stockamp, Dahl, Darkenwald, and Moores
OPPOSED: none
CITY OF OTSEGO
Jessica 1. Stockamp, Mayor
ATTEST;
Audra Etzel, City Clerk
e�