RES 2024-87 Adopting the 2025 Annual Operating BudgetsCITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2024-87
ADOPTING THE 2025
ANNUAL OPERATING BUDGETS
WHEREAS, the Otsego City Council has on November 25, 2024, 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 2025,
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 2025 as follows:
Revenues
Property Taxes $6,992,002
Cable Franchise Fees 117,000
Licenses and Permits 11703,459
Intergovernmental 209,554
Charges for Services 244,830
Miscellaneous 195,257
Transfers from Other Funds 478,000
Total Revenues 9 940 102
Expenditures
General Government $2,196,516
Public Safety 41263,499
Public Works 2,118,872
Parks and Recreation 11250,315
Economic Development 110,900
Total Expenditures 9 940 102
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That the following revenues and expenses (summarized) be authorized as the final budget for the operation of the
Public Utility funds for 2025 as follows:
Revenues
Operating $8,118,701
Non -Operating 21966,469
Availability & Connection Charges 4,6961540
Special Assessments 35,274
Bond Proceeds 10,098,000
Total Revenues $25,914,984
Expenses
Operating $4,090,823
Capital Outlay 20,506,400
Depreciation 41638,841
Debt Service 51208,236
Transfers to Other Funds 478,000
Total Expenses $34,922,300
That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of
the Debt Service funds for 2025 as follows:
Revenues
Property Taxes
Special Assessments
Total Revenues
Expenditures
Principal
Interest and Fiscal Agent Fee's
Total Expenditures
$290,308
1681333
458 641
$480,000
82,556
562 556
That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of
the Special Revenue funds for 2025 as follows:
Revenues
Tax Increments $609,601
Total Revenues 609 601
Expenditures
Economic Development $518,242
Total Expenditures 5518t242
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5. That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of
the Economic Development Authority for 2025 as follows:
Revenues
Bond Proceeds
Total Revenues
Expenditures
Interest and Fiscal Agent Fee's
TotalExpenditures
$442,259
442 259
$442,259
442 259
ADOPTED by the Otsego City Council this 9th day of December, 2024.
MOTION BY: Moores
SECONDED BY: Dahl
IN FAVOR: Stockamp, Dahl, Goede, and Moores
OPPOSED: Dunlap
CITY OF OTSEGO
Jessica L. Stockamp, May` r
ATTEST:
Audra Etzel, City Clerk
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