City Council Resolution 2020-89CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2020-89
ADOPTING THE 2021 BUDGET AND AUTHORIZING SPECIFIC
FINANCE -RELATED ACTIVITIES
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 2021; 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
2021 Budget
2021 Budget
Added(Expended)
General Fund
$ 9,875,000
$ 9,875,000
$ -
Soecial Revenue Funds
Economic Development
1,186,000
818,000
368,000
Cemetery
33,000
33,000
-
Small Community Development Grant
5,000
-
5,000
Monticello Community Center
1,236,000
1236000
-
Total Special Revenue Funds
2,460,000
2,087 000
373,000
Debt Service Funds
2011A G.O. Refunding Bond
201,000
200,000
1,000
2014A G.O. Judgment Bond
515,000
513,000
2,000
2015B G.O. Bonds
225,000
214,000
11,000
2016A G.O. Bonds
489,000
527,000
(38,000)
2017A G.O. Bonds
474,000
473,000
1,000
2018A G.O. Bonds
449,000
447,000
2,000
2019A G.O. Bonds
730,000
715,000
15,000
2020A G.O. Bonds
187,000
236,000
(49,000)
Total Debt Service Funds
3,270,000
3,325,000
55,000
Capital Project Funds
Capital Project
2,793,000
1,790,000
1,003,000
Closed Bond Fund
156,000
-
156,000
Park & Pathway Dedication
1,141, 000
750,000
391,000
Street Lighting Improvement
100,000
100,000
-
Street Reconstruction
-
1,654,000
1,654,000
Total Capital Project Funds
4,190,000
4,294,000
104,000
Enterprise Funds
Water
1,600,000
1,935,000
(335, 000)
Sewage
3,120, 000
3,879,000
(759, 000)
Water Quality
448,000
858,000
(410,000)
Liquor
6,684,000
6,259,000
425,000
Deputy Registrar
702,000
645,000
57,000
Fiber Optics
1,865,000
2,029,000
164,000
Total Enterprise Funds
14,419 000
15,605,000
1,186,000
Internal Service Funds
Building Maintenance
292,000
292,000
IT Services
248,000
248,000
-
Central Equipment
1,000,000
989,000
11,000
Benefit Accrual
19,000
16,000
3,000
Total Internal Service Funds
1,267,000
1,253,000
14,000
Total All Funds
$ 35 481,000
$ 36,439,000
$ 958,000
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 2011 A GO Improvement Bond Fund from EDA/TIF - $200,000.
b. To Community Center Fund from Liquor Fund - $325,000.*
c. To Park & Pathway Fund from Street Reconstruction Fund - $1,094,000.
d. To Sewer Access Fund from Capital Projects Fund - $200,000.
e. To Central Equipment Fund from Street Reconstruction Fund - $560,000.
* Transfer will only be made up to the amount necessary. A final number will be presented in a
separate agenda item at the end of 2021 for Council approval.
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 2.5% wage adjustment to full-time (including union), part-time (excluding
MCC staff and volunteer fire personnel) and seasonal employees commencing on first
pay period beginning in January 2021.
e. Establishes the monthly standard health insurance benefits for union employees at
$1,193.58 with an effective date of March 1, 2021. The monthly standard health benefits
for participating non-union employees are $827.20 for the single plan and $1,549.18 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 BY the Monticello City Council this 14th day of December, 2020.
CITY OF MONTICELLO
xg�' I -
Brian Stumpf, ayor
ATTEST:
WN
Jenni Schreiber, C#Clerk