RES 2025-65 Adopting the 2026 Annual Operating BudgetsCITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2025-65
ADOPTING THE 2026
ANNUAL OPERATING BUDGETS
WHEREAS, the Otsego City Council has on December 2, 2025, held a public meeting to allow for public comment before
adopting a final budget and certifying a final property tax levy; and
WHEREAS, the Otsego City Council has reviewed the proposed General, Public Utility, Debt Service, Special Revenue, and EDA
fund budgets and has determined the budget is adequate to fund the respective fund operations for the year 2026.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA:
1. That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of
the General fund for 2026 as follows:
Revenues
Property Taxes
$7,553,534
Cable Franchise Fees
106,000
Licenses and Permits
1,904,463
Intergovernmental
186,333
Charges for Services
268,365
Miscellaneous
228,626
Transfers from Other Funds
603,000
Total Revenues
$10,850,321
Fund Balance
Use of Fund Balance in Excess of Policy $169,237
Total Revenues and Fund Balance Use $11,019,558
Expenditures
General Government
$2,549,850
Public Safety
4,827,286
Public Works
2,234,775
Parks and Recreation
1,306,497
Economic Development
101,150
Total Expenditures
$11,019,558
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3.
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That the following revenues and expenses (summarized) be authorized as the final budget for the operation of the
Public Utility funds for 2026 as follows:
Revenues
Operating
$8,372,395
Non -Operating
1,084,179
Availability & Connection Charges
5,143,579
Special Assessments
40,248
Bond Proceeds
26,441,878
Total Revenues
541,082,279
Expenses
Operating
$4,486,687
Capital Outlay
17,851,584
Depreciation
5,144,320
Debt Service
5,411,154
Transfers to Other Funds
603,000
Total Expenses
533,496,745
That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of
the Debt Service funds for 2026 as follows:
Revenues
Property Taxes $292,313
Special Assessments 160,924
Total Revenues 5453,237
Expenditures
Principal $495,000
Interest and Fiscal Agent Fee's 65,481
Total Expenditures $560,481
That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of
the Special Revenue funds for 2026 as follows:
Revenues
Tax Increments $645,302
Total Revenues 5645,302
Expenditures
Economic Development $585,035
Total Expenditures 585 035
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5. That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of
the Economic Development Authority for 2026 as follows:
Revenues
Lease Revenues from City
Total Revenues
1 275 300
1 275 300
Expenditures
Interest and Fiscal Agent Fee's $752,800
Total Expenditures 5752,800
ADOPTED by the Otsego City Council this 8th day of December, 2025.
MOTION BY: Tanner
SECONDED BY: Goede
INFAVOR: Stockamp, Goede, Lund, and Tanner
OPPOSED: Dunlap
CITY OF OTSEGO
Jessica L. Stockamp, May
ATTEST:
Audra Etzel, City Clerk
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