Kali Lentz, CPA/senior manager at Smith, Schafer & Associates, Ltd., reviewed the 2024 audit for the city of Chatfield at the council’s March 10 meeting. Councilor Mike Urban was absent.
Lentz noted the financial statements are in draft form as the final PERA reports for the Statewide Volunteer Fire plan have not yet been received. The city was given an unmodified “clean” opinion for 2024.
The city’s tax capacity has increased to $2,992,166 in 2024, an increase of about $270,000 over 2023. The general tax levy revenues were 48% of total revenues. Local Government Aid ($949,457) was 17.7% of the city’s governmental revenues and 31.8% of the total general fund revenues.
General government expenditures in the amount of $789,477 was a decrease from 2023. Public safety expenditures were increased by $54,141 to $1,212,546.
The city’s reserves (unassigned General Fund) were 67.7% of next year’s General Fund property tax levy and LGA. No new debt was added in 2024. Payments are being made in a timely manner on all debt.
Capital expenditures in 2024 totaled $371,439. Capital Goods unrestricted fund balance totaled $1,313,138; these funds are available for the capital replacement plan.
Other Business in Brief
• The Minnesota Energy Resources (MERC) Franchise Agreement, Ordinance 477, was approved, as was its publication.
• The Mediacom Franchise Agreement, Ordinance 478, was reviewed. No action was taken this day.
• The continuation of the Utility Fee Waiver Program for new single-family homes through 2025 was approved as recommended by the EDA. The program allows for the waiving of water and sewer utility connection fees for single family residential new home construction in 2025.
• A contract with SEH Engineering (grant writers) was approved to secure funding for the replacement of a 130-year-old water storage reservoir. Funding for the replacement of the water storage tank is not in this years budget.
• An insurance claim was filed for the replacement of a snowplow wing that was damaged when it hit a sewer. The insurance adjustment was $7,100. Bids are being requested for the repair.
• A resolution was adopted that authorizes Chatfield Center for the Arts, Inc. to participate in League of Minnesota Cities Insurance Trust (LMICT) coverage.
• City Administrator Michele Peterson reported on meetings she had attended during the past week. She said it is up to us as a community to talk to developers and to let them know what we are thinking.