City Council Resolution 2023-113CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2023-113
ADOPTING THE 2024 BUDGET, TRANSFERS AND OTHER
BUDGET -RELATED AUTHORIZATIONS
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 2024; 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 ITRESOLVED, 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):
2024 Budgeted 2024 Budgeted
Fund Balance
Fund
Revenues
Expenditures
Added (Expended)
General Fund
$ 12,757,000
$ 12,757,000
$ -
Special Revenue Funds
Cemetery
$ 42,000
$ 31,000
$ 11,000
Small Community Development Grant
8,000
-
8,000
Monticello Community Center
2,058,000
2,058,000
-
Total Special Revenue Funds
$ 2,108,000
$ 2,089,000
$ 19,000
Debt Service Funds
2015B G.O. Bonds
$ 186,000
$ 214,000
$ (28,000)
2016A G.O. Bonds
428,000
529,000
(101,000)
2017A G.O. Bonds
364,000
470,000
(106,000)
2018A G.O. Bonds
441,000
448,000
(7,000)
2019A G.O. Bonds
726,000
711,000
15,000
2020A G.O. Bonds
135,000
234,000
(99,000)
Total Debt Service Funds
$ 2,280,000
$ 2,606,000
$ (326,000)
Capital Proiect Funds
Capital Project
$ 36,830,000
$ 41,785,000
$ (4,955,000)
Street Lighting Improvement
185,000
1,430,000
(1,245,000)
Park & Pathway Improvement
-
87,000
(87,000)
Park Dedication
1,000
-
1,000
Total Capital Project Funds
$ 37,016,000
$ 43,302,000
$ (6,286,000)
Enterprise Funds
Water
$ 1,885,000
$ 2,404,000
$ (519,000)
Sewer
3,203,000
3,356,000
(153,000)
Stormwater
1,992,000
2,599,000
(607,000)
Liquor
7,517,000
7,747,000
(230,000)
Deputy Registrar
918,000
995,000
(77,000)
Fiber Optics
2,000,000
1,883,000
117,000
Total Enterprise Funds
$ 17,515,000
$ 18,984,000
$ (1,469,000)
Internal Service Funds
Facilities Maintenance
$ 435,000
$ 435,000
$
IT Services
560,000
560,000
-
Central Equipment
588,000
355,000
233,000
Benefit Accrual
12,000
12,000
-
Total Internal Service Funds
$ 1,595,000
$ 1,362,000
$ 233,000
Component Units
Economic Development Authority
$ 765,000
$ 796,000
$ (31,000)
Total Component Units
$ 765,000
$ 796,000
$ (31,000)
Total All Funds
$ 74,036,000
$ 81,896,000
$ (7,860,000)
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 at any time during the budget year.
a. To EDA Fund from General Fund - $6,000.
b. To Capital Projects Fund from Liquor Fund - $1,000,000
c. To Community Center Fund from Deputy Registrar Fund - $100,000
SECTION 3. OTHER BUDGET -RELATED AUTHORIZATIONS:
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 $67,500.
d. Approves a 4% wage adjustment to full-time employees (Pay Grades U9-U11, H100-
H260, and S100-S260), part-time Community Center employees (Pay Grades M01-M06),
other part-time and temporary employees (Pay Grades T01-T04), and paid on call
firefighters commencing on first pay period beginning in January 2024.
e. Establishes the monthly standard health insurance benefits for union employees with an
effective date of March 1, 2024 at $1,281.08 for family coverage (single coverage fully
paid by City at $1,475). The monthly standard health benefits for participating non-
union employees are $909.96 for the single plan and $1,776.77 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 111" day of December, 2023.
CITY OF MONTICELLO
�C
Lloyd Hilgart, Mayor
ATTEST:
JJenifer hrei , City Clerk