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City Council Resolution 2018-96CITY OF MONTICELLO WRIGHT COUNTY, MINNESOTA RESOLUTION NO. 2018-96 ADOPTING THE 2019 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 2019; 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 2019 Budget 2019 Budget Added (Expended) General Fund $ 8,586,000 $ 8,586,000 $ - Special Revenue Funds Economic Development 1,061,000 899,000 162,000 Cemetery 52,000 91,000 (39, 000) Minnesota Investment 10,000 - 10,000 Monticello Community Center 2,000,000 2,045,000 (45,000) Total Special Revenue Funds 3,123,000 3,035,000 88,000 Debt Service Funds 2010A G.O. Improvement Bond 171,523 889,156 (717,633) 2011A G.O. Refunding Bond 395,817 429,150 (33,333) 2014A G.O. Judgment Bond 538,244 512,462 25,782 2015B G.O. Bonds 224,516 213,652 10,864 2016A G.O. Bonds 514,056 529,250 (15,194) 2017A G.O. Bonds 491,366 472,438 18,928 2018A G.O. Bonds 500,000 451,115 48,885 Total Debt Service Funds 2,835,522 3,497,223 (661,701) Capital Project Funds Capital Project 9,389,000 10,175,000 (786,000) Closed Bond Fund 69,000 - 69,000 Park & Pathway Dedication 2,162,000 2,605,000 (443,000) Stormwater Access 65,000 800,000 (735,000) Street Lighting Improvement 90,000 160,000 (70,000) Street Construction 20,000 135,000 (115,000) Total Capital Project Funds 11,795,000 13,875,000 (2,080,000) Enterprise Funds Water 1,561,747 1,513,113 48,634 Sewage 2,570,411 3,303,190 (732,779) Liquor 5,984,220 7,622,065 (1,637,845) Deputy Registrar 551,400 451,609 99,791 Fiber Optics 1,945,000 2,099,000 (154,000) Total Enterprise Funds 12,612,778 14,988,977 (2,376,199) Internal Service Funds IT Services 253,300 249,200 4,100 Benefit Accrual 19,500 - 19,500 Central Equipment 301,900 531,600 (229,700) Total Internal Service Funds 574,700 780,800 (206,100) Total All Funds $ 39,527,000 $ 44,763,000 $ (5,236,000) 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 2010A GO Improvement Bond Fund from Street Reconstruction Fund $135,000. c. To FiberNet Fund from Liquor Fund - $100,000. d. To Park & Pathway Fund from Liquor Fund - $2,100,000. e. To Capital Projects Fund from Water Fund - $500,000. f. To the General Fund from the EDA Fund - $2500. SECTION 3. CAPITAL EQUIPMENT AND IMPROVEMENT ACQUISITION: a. Appropriates resources for Central Equipment Fund purchases: Streets — bucket truck ($135,000*), sidewalk snow machine ($150,000); Parks — skid loader ($65,000*); Fire — SUV ($50,000), ladder truck ($1,300,000). b. Appropriates resources for Enterprise Fund purchases: Sewage Fund — Vactor truck ($450,000), wastewater treatment plant mule ($20,000*); DMV Fund — fleet vehicle ($28,000*). c. In accordance with the purchasing policy, all capital asset (equipment, buildings, etc.) purchases included in this section are subject to further review and must be approved by specific council action. Items with denoted with an (*) require future council action. SECTION 4. 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 75% of expenditures. c. Approves Senior Center annual subsidy of $61,800. d. 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 2019 and an additional 1 % commencing on first pay period beginning in July 2019. e. Establishes the monthly standard health insurance benefits for union employees at $1,151.08 with an effective date of March 1. The monthly standard health benefits for participating non-union employees are $752.02 for the single plan and $1,409.74 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 10th day of December, 2018. CITY OF NTICELLO Brian Stumpf, yor ATTEST: �- Jeff-6')eo, City Administrator