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Canton council adopts 2023 fee schedule and approves CD reinvestments after 2022 financial review
Summary
Canton City Council approved Ordinance 2023‑01 updating the city's Schedule of Fees, adopted two routine resolutions, heard the 2022 financial report and approved reinvestment and reallocation of multiple certificates of deposit to support the sewer fund and other accounts.
Mayor Josh Nordsving called the Canton City Council to order Tuesday and the council moved quickly through routine business, approving a new Schedule of Fees for 2023 and a package of certificate‑of‑deposit reinvestments after a presentation of the city's 2022 financial report.
The council voted to adopt Ordinance 2023‑01 updating the Schedule of Fees for 2023. The council also voted to publish a summary of the ordinance in the Fillmore County Journal; both votes passed on standard motions (Dowling moved for adoption; Magnuson seconded; Ziegler moved to publish the summary; Dowling seconded).
Clerk Anne Koliha presented the 2022 end‑of‑year budgets and current ending balances for all city accounts, then the council considered how to handle several maturing CDs. On a motion by Kristy Ziegler, seconded by Jason Magnuson, the council approved a package of actions affecting multiple accounts: cashing Sewer CD #16668 and depositing the funds into the Sewer Fund checking; reinvesting the full amount of Sewer CD #16669 into a 22‑month CD at the stated rate of 3.75%; reinvesting $35,000 of Liquor CD #44204 into a 22‑month CD at 3.75% and using the remaining Liquor CD funds to pay the penalty for early withdrawal with the residual moved to Sewer Fund checking; and reinvesting $130,000 of Vale Estate CD #44203 into a 22‑month CD at 4.10%, using the remaining funds to pay early‑withdrawal penalties and placing the balance into Sewer Fund checking. The motion carried.
The council also approved Resolution 2023‑04, adopting the Minnesota General Records Retention Schedule for Cities, and Resolution 2023‑05, updating authorized signers for the city safe deposit box at First Southeast Bank of Canton; both measures passed by voice vote. Jason Magnuson moved for adoption of Resolution 2023‑04; Jen Dowling seconded.
The council ended the session at 6:54 p.m.
The motions recorded in the minutes used standard wording and all passed; no roll‑call vote tallies were recorded in the transcript.
