RES 16-102CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2016-102
ADOPTING THE 2017
ANNUAL OPERATING BUDGETS
WHEREAS, the Otsego City Council has on December 12, 2016, 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 2017.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO,
NLUMSOTA:
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the General fund for 2017 as follows:
Revenues
$1,334,349
Property Taxes
$3,763,273
Cable Franchise Fees
132,000
Licenses and Permits
788,900
Intergovernmental
56,800
Charges for Services
105,550
Miscellaneous
194,042
Total Revenues
5 040 565
Expenditures
General Government
$1,334,349
Public Safety
1,875,138
Public Works
15136,728
Parks and Recreation
584,490
Economic Development
109,860
Total Expenditures
5 040 565
2.
0
That the following revenues and expenses (summarized) be authorized as the final budget for the
operation of the Public Utility funds for 2017 as follows:
Revenues
Operating $2,824,426
Non -Operating 196,588
Total Revenues $3,021,014
Expenses
Operating
$1,824,589
Capital Outlay
1,993,015
Depreciation
1,458,000
Debt Service
200,000
Transfers to Other Funds
209,042
Total Expenses
5 684 646
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Debt Service funds for 2017 as follows:
Revenues
Property Taxes $655,000
Special Assessments 438,681
Utility Availability & Connection Charges 1,726,000
Transfers from Other Funds 49,000
Total Revenues 2 868 681
Expenditures
Principal $3,160,000
Interest, Fiscal Agent Fee's & Amortizations 1,098,727
Total Expenditures 4 258 727
That the following revenues and expenditures (summarized) be authorized as the final budget for the
operation of the Special Revenue funds for 2017 as follows:
Revenues
Property Taxes $81,385
Charges for Services 10,000
Total Revenues 91385
Expenditures
Services & Other Charges $91,385
Total Expenditures 91 385
2
ADOPTED by the Otsego City Council this 12th day of December, 2016.
MOTION made by Council Member Heidner
CITY OF OTSEGO
(YaMuk w'
Jessica Stockamp, Ma or
ATTEST:
4
4
Tami off, City Clerk
and SECONDED by Council Member
INFAVOR: Stockamp, Warehime, Darkenwald, Heidner
OPPOSED: None
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