City Council Resolution 2014-124CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2014 -124
ADOPTING THE 2015 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 2015; 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 APPROPRIATIONS:
Fund
2015 Budget
General Fund
$ 7,246,000
Special Revenue Funds
Economic Development
755,114
Deputy Registrar
343,429
Minnesota Investment
-
Monticello Community Center
2,808,050
Park & Pathway Dedication
817,000
Total Special Revenue Funds
4,723,593
Debt Service Funds
2007A G.O. 1 mprovement Bond
621,800
2008A G.O. Sewer Refunding
1,048,942
2008A G.O. Revenue Refunding
1,001,260
2010A G.O. Improvement Bond
302,899
2011A G.O. Refunding Bond
2,4601750
2014A G.O. Judgment Bond
185,000
Total Debt Service Funds
5,620,651
Capital Project Funds
Capital Project
4,821,000
Closed Bond Fund
-
Stormwater Access
-
Street Lighting Improvement
125,000
Street Construction
1,500,000
Total Capital Project Funds
6,446,000
Enterprise Funds
Water
1,645,811
Sewage
6,191, 555
Liquor
4,979,859
Cemetery
30,623
Fiber Optics
2,100,956
Total Enterprise Funds
14,948,804
Internal Service Funds
IT Services (Authorized)
278,100
Central Equipment (Authorized)
367,260
Total Internal Service Funds
645,360
Total All Funds
$ 39,630,408
SECTION 2. ESTIMATED REVENUES FROM ALL SOURCES:
Fund
2015 Budget
General Fund
$ 7,246,000
S12ecial Revenue Funds
Economic Development
1,046,475
Deputy Registrar
401,100
Minnesota Investment
25,000
Monticello Community Center
2,808,050
Park & Pathway Dedication
72,000
Total Special Revenue Funds
4,352,625
Debt Service Funds
2007A G. O. Improvement Bond
536,114
2008A G. 0. Sewer Refunding
845,000
2008A G. 0. Revenue Refunding
1,005,500
2010A G. 0. Improvement Bond
213,009
2011A G. 0. Refunding Bond
2,091,738
2014A G.O. Judgment Bond
1,000
Total Debt Service Funds
4,692,361
Capital Project Funds
..........
Capital Project
4,401,000
Closed Bond Fund
214,000
Stormwater Access
70,000
Street Lighting Improvement
90,000
Street Construction
25,000
Total Capital Project Funds
4,800,000
Enterprise Funds
Water
1,331,500
Sewage
5,494,950
Liquor
4,878,000
Cemetery
25,608
Fiber Optics
2,101,584
Total Enterprise Funds
13,831,642
Internal Service Funds
IT Services (Authorized)
278,201
Central Equipment (Authorized)
158,710
Total Internal Service Funds
436,911
Total All Funds
$ 35, 359, 539
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 2011 A GO Improvement Bond Fund from Sewage Fund - $175,000, Water Fund -
$500,000, and EDA /TIF - $271,900 (Total - $946,900).
b. To 2008A GO Sewer Revenue Refunding Bond Fund from Sewage Fund - $340,000.
c. To 2008A Revenue Refunding Bond Fund from Community Center Fund - $1,005,000.
d. To 2010A GO Improvement Bond Fund from Sewage Fund - $84,672 and Water Fund
$33,264 (Total - $117,936).
e. To EDA Fund from General Fund - $94,900.
f. To Capital Projects Fund from the Street Reconstruction Fund - $1,500,000.
g. To FiberNet Fund from Liquor Fund - $450,000.
SECTION 4. CAPITAL EQUIPMENT AND IMPROVEMENT ACQUISITION:
a. Amends the list of reimbursable equipment in Resolution 2013 -018, later amended by
Resolution 2013 -101, to include with approximate costs as follows: 1) speed trailer -
$12,500; 2) blacktop roller - $30,000; 3) forklift (used) - $15,000; 4) Parks truck -
$25,000; 5) overseeder - $12,000; 6) Cushman Truckster - $35,000.
b. Approves purchase of truck and accessories for $60,000 from Water and Sewage Funds.
SECTION 5. OTHER BUDGET AUTHORIZING ACTIONS:
a. Removes prior commitments and assignments, except those required by GASB, from
fund balance classifications.
b. Approves Senior Center annual subsidy of $55,000.
c. Approves a 3% cost -of- living adjustment to full -time, part-time (excluding MCC staff
and volunteer fire personnel) and seasonal employees for the pay period commencing on
January 10, 2015.
d. Establishes the monthly standard health insurance benefits at $1,012 and $1,060 with
effective dates of January 1 and March 1, respectively. 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- and non -plan
participants.
ADOPTED BY the Monticello City Council this 81h day of December, 2014.
CITY OF MONTICELLO
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Clint Herbst, Mayor
ATTEST:
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Jeff OA_
r , , City Administrator