City Council Resolution 2012-112CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2012 -112
ADOPTING THE 2013 BUDGET AND AUTHORIZING SPECIFIC
FINANCE - RELATED ACTIVITIES
WHEREAS, the 2013 Budget has been completed and determined; and
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 2013; 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 for each budgeted fund.
NOW THEREFORE BE IT RESOLVED BY THE MONTICELLO CITY COUNCIL, that the
budgeted expenditures, excluding depreciation, for each fund during the 2013 calendar fiscal
year shall be approved as follows:
SECTION 1. AUTHORIZATION OF APPROPRIATIONS:
SECTION 2. ESTIMATED REVENUES FROM ALL SOURCES:
SECTION 3. TRANSFERS:
By resolution, the Council can amend or rescind this section as the year progresses. The
following list does not include any transfers for projects that have not received formal council
authorization.
a. To Community Center Fund from Capital Projects Fund (Water Tower) - $100,000.
b. To 2005A GO Improvement Bond Fund from Sanitary Sewer Access Fund - $704,576,
Storm Sewer Access Fund - $262,000, Street Reconstruction Fund - $150,000, Water
Fund - $362,900, and EDA /TIF - $319,403. (Total - $1,798,879)
c. To 2008A GO Sewer Revenue Refunding Bond Fund from Sanitary Sewer Access Fund -
$450,000.
d. To 2008A GO Revenue Refunding Bond Fund from Community Center Fund - $875,000.
e. To 2010A GO Improvement Bond Fund from Sanitary Sewer Access Fund - $128,795,
Storm Sewer Access Fund - $59,800, Street Reconstruction Fund - $69,000, and Water
Fund $50,600. (Total - $308,195)
f To EDA Fund from General Fund - $80,000.
g. To Capital Projects Fund from EDA /TIF Fund - $455,000 (7 " Street Construction).
h. To FiberNet Fund from Liquor Fund - $220,000.
SECTION 4. CAPITAL EQUIPMENT AND IMPROVEMENT ACQUISITION:
a) Items listed in section below authorizing issuance of capital equipment debt.
SECTION 5. OTHER BUDGET AUTHORIZING ACTIONS:
a. Establishes a revenue recovery policy for the community center where customer charges
shall provide for 85% of operating costs and on -going capital and non - capital items, such
as equipment acquisitions and repairs and maintenance.
b. Removes prior commitments and assignments, except those required by GASB, from
fund balance classifications.
c. Transfers assets of Capital Outlay Revolving Fund to Capital Equipment Internal Service
Fund.
d. Closes Grant Funding and Bertram Chain of Lakes special revenue funds to General
Fund.
e. Establishes Internal Service Fund for aggregation and allocation of IT expenditures.
f. Closes debt service funds for retired debt to a capital projects fund.
ADOPTED BYthe Monticello City Council this 10t" day of December, 2012.
CITY OF MONTICELLO
Clint Herbst, Mayor
ATTEST:
Jeff 6�1\ L , City Administrator