City Council Resolution 2021-108CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2021-108
ADOPTING THE 2022 BUDGET AND AUTHORIZING CERTAIN
FINANCE -RELATED ACTIONS
WHEREAS, the budget is the fiscal blue print for the entire year where the City Council
has considered and incorporated all foreseeable spending plans for 2022; and
WHEREAS, the City, through sound fiscal policy, establishes that current revenues will
be used to finance current expenditures and regularly occurring capital expenditures; and
WHEREAS, the City Council shall by this resolution set forth the total expenditures and
uses, excluding depreciation, and the total revenues and other sources for each budgeted fund.
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Monticello the following is
hereby approved:
SECTION 1. AUTHORIZATION OF ESTIMATED REVENUES FROM ALL SOURCES,
APPROPRIATIONS, AND FUND BALANCE ADDED (EXPENDED):
Revenues
Expenditures
Fund Balance
Fund
2022 Budget
2022 Budget
Added (Expended)
General Fund
$ 10,530,000 $
10,530,000
$ -
Special Revenue Funds
Economic Development
1,093,000
887,000
206,000
Cemetery
33,000
33,000
-
Small Community Development Grant
8,000
-
8,000
Monticello Community Center
1,800,000
1,800,000
-
Total Special Revenue Funds
2,934,000
2,720,000
214,000
Debt Service Funds
2011A G.O. Refunding Bond
198,000
310,000
(112,000)
2015B G.O. Bonds
216,000
211,000
5,000
2016A G.O. Bonds
487,000
528,000
(41,000)
2017A G.O. Bonds
470,000
471,000
(1,000)
2018A G.O. Bonds
453,000
448,000
5,000
2019A G.O. Bonds
724,000
719,000
5,000
2020A G.O. Bonds
191,000
238,000
(47,000)
Total Debt Service Funds
2,739,000
2,925,000
(186,000)
Capital Project Funds
Capital Project
2,547,000
6,490,000
(3,943,000)
Street Lighting Improvement
150,000
425,000
(275,000)
Park & Pathway Improvement
2,000
375,000
(373,000)
Park Dedication
3,000
-
3,000
Total Capital Project Funds
2,702,000
7,290,000
(4,588,000)
Enterprise Funds
Water
1,670,000
1,745,000
(75,000)
Sewage
3,050,000
3,476,000
(426,000)
Stormwater
448,000
1,382,000
(934,000)
Liquor
7,025,000
6,235,000
790,000
Deputy Registrar
825,000
731,000
94,000
Fiber Optics
1,880,000
1,950,000
(70,000)
Total Enterprise Funds
14,898,000
15,519,000
(621,000)
Internal Service Funds
Facilities Maintenance
325,000
325,000
IT Serv7ces
425,000
425,000
-
Central Equipment
583,000
1,038,000
(455,000)
Benefit Accrual
12,000
12,000
-
Total Internal Service Funds
1,345,000
1,800,000
(455,000)
Total All Funds
$ 35,148,000 $
40,784,000
$ (5,636,000)
SECTION 2. TRANSFERS:
By resolution, the Council can amend or rescind this section as the year progresses. The
following list may include transfers for projects that have not received formal council
authorization. Transfers for these projects can be rescinded any time during the budget year.
a. To 2011A GO Improvement Bond Fund from EDA/TIF - $197,925.
b. To Capital Projects Fund from 2011A G.O. Refunding Bond Fund - $111,000*.
c. To EDA Fund from General Fund - $6,000.
* Transfer will be able for actual amount needed to close out fund after final bond payment.
SECTION 3. OTHER BUDGET AUTHORIZING ACTIONS:
a. Removes prior commitments and assignments, except those required by GASB, from
fund balance classifications.
b. Sets the General Fund reserve policy at 60-75% of expenditures.
c. Approves Senior Center annual subsidy of $65,000.
d. Approves a 3% wage adjustment to full-time (including union) employees and a 4%
wage adjustment to union grades U10 & U11 commencing on first pay period beginning
in January 2022, and approves an increase in the hourly call rate for the fire department
to $13.50.
e. Establishes the monthly standard health insurance benefits for union employees at
$1,203.58 with an effective date of March 1, 2022. The monthly standard health
benefits for participating non-union employees are $876.79 for the single plan and
$1,627.69 for the family plan. Premium contributions are required from
family/dependent plan participants for the difference between the standard benefit and
coverage costs. No contribution is required from single -plan and non -plan participants.
ADOPTED BYthe Monticello City Council this 13th day of December, 2021.
CITY OF MONTICELLO
Lloyd Hilg rt, Ma or
TE
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V
nifer S reibe , City Clerk