City Council Resolution 2016-93CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2016 -093
ADOPTING THE 2017 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 2017; 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
2017 Budget
2017 Budget Added (Expended)
General Fund
$ 7,802,000
$ 7,802,000 $
'Special Revenue Funds
Economic Development
1,050,814
805,865
244,949
Cemetery
27,325
27,325
-
Minnesota Investment
20,000
-
20,000
;Monticello Community Center
1,866,400
1,866 400 .
-
'Total Special Revenue Funds
2,964,539.
2,699,590
264,949
Debt Service Funds
2007A G.O. Improvement Bond
714,088
536,000
178,088
2008A G.O. Sewer Refunding
505,000
1,521,832
(1,016,832)!
2010A G O. Improvement Bond
219,005
305,117 1
,112)
2011A G.O. Refunding Bond
979,418
784,150
195,268
2014A G.O. Judgment Bond
537,929
511,862 i
26,067
2015B G.O. Bonds
222,288
208,000
14,288
2016A G.O. Bonds
555,000
530,000
25,000
Total Debt Service Funds
3,732,728
4,396 961
(664,233)
Ca vital Project Funds
Capital Project
5,336,000
6,800,000
(1,464,000)
Closed Bond Fund
_.
70,900
-
70,900
Park & Pathway Dedication
2,000
288,000 !
(286,000),
Stormwater Access
65,000
268,376
(203,376)'
Street Lighting Improvement
90,000
75,000
15,000
Street Construction
25,000
45,693
(20 693)'
Total Capital Project Funds
5,588,900
7,477,069
(1,888,169)';
'Enterprise Funds
Water
1,283,499
1,246 254
37,245
Sewage
2,1911-182.342
3,0451242
(126, 900)
Liquor
5,440,194
5,208,603
231,591
Deputy Registrar
476,100
383,936
92,164
Fiber Optics
1,997,867
1,957,709
40 158
'Total Enterprise Funds
12,116,002 !
11,841,744
274,258
Internal Service Funds
IT Services
274,519
_.
298,980
(24,461)1 .
Benefit Accrual
20,000
- :
20,000
Central Equipment
215,700
511,050
(295 350)
(Total Internal Service Funds
510,219
810,030:
(299,811)'
Total All Funds
$ 32, 714, 388
$ 35, 027, 394 $
(2, 313, 006)
SECTION 2. 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 2011A GO Improvement Bond Fund from Storm Water Access Fund - $268,376 and
EDA /TIF - $200,000 (Total - $468,376).
b. To 2010A GO Improvement Bond Fund from Sewage Fund - $85,293 and Street
Reconstruction Fund $45,693 (Total - $130,980).
c. To FiberNet Fund from Liquor Fund - $230,000.
SECTION 3. CAPITAL EQUIPMENT AND IMPROVEMENT ACQUISITION:
a. Appropriates resources for Central Equipment Fund purchases: Streets - speed trailer
($14,000), black -top roller ($30,000), street sweeper ($190,000), electronic sign reader
($12,000), V -box sander ($15,000); Parks — 72" Polar Trac ($50,000).
b. No equipment or construction project purchase /acquisition is specifically approved by
this section.
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 $58,560.
c. Approves a 2% wage adjustment to full -time, part -time (excluding MCC staff and
volunteer fire personnel) and seasonal employees for the pay period commencing on first
pay period beginning in January 2017 and an additional I% commencing on first pay
period beginning in July 2017.
d. Establishes the monthly standard health insurance benefits at $1,117.55 with an effective
date of March 1. 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 12th day of December, 2016.
CITY OF MO _ ICELLO
Brian Stumpf, Mayor
ATTEST:
Jeff i , City Administrator