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financial sustainability

Keeping city finances stable with responsible budgets and planning

What to Watch
Whether council brings back a formal agreement with the Lakeshore Community Foundation that spells out oversight, reporting, fees, and who controls spending decisions.
Coming Up

Typically discussed at City Council. Check back when the next agenda is published.

The Story

In November, City Council passed two non-unanimous votes that set new limits on city borrowing, including a 60%-of-state-limit target and a rule tied to equalized property value. In January, council discussed moving fundraising money for perpetual care flowers and the community band into Lakeshore Community Foundation investment accounts, and asked to meet with foundation representatives.

Key Decisions
  1. passed Explore Two Rivers Meeting of the Board of Directors · Jan 13, 2026

    TREASURER'S REPORT                                                                                            (Action Item)

    Motion to approve the Treasurer’s Report

  2. passed 6-3 City Council · Nov 3, 2025

    25-221 Ordinance to Create Chapters 2-7-16 of the Municipal Code Establishing a Policy for Responsible Capital Borrowing

    Motion to waive reading and adopt an Ordinance to Create Chapters 2-7-16 of the Municipal Code Establishing a Policy for Responsible Capital Borrowing.

    Doug Brandt Yes
    Shannon Derby Yes
    Bill LeClair Yes
    Darla LeClair Yes
    Tim Petri No
    Bonnie Shimulunas No
    Scott Stechmesser Yes
    Adam Wachowski No
    Mark Bittner Yes
  3. passed 8-1 City Council · Nov 3, 2025

    25-220 Resolution Reaffirming the City's Commitment to Financial Sustainability and Responsible Debt Management

    Motion to waive reading and adopt a Resolution Reaffirming the City's Commitment to Financial Sustainability and Responsible Debt Management.

    Mark Bittner Yes
    Doug Brandt Yes
    Shannon Derby Yes
    Bill LeClair Yes
    Darla LeClair Yes
    Tim Petri Yes
    Bonnie Shimulunas No
    Scott Stechmesser Yes
    Adam Wachowski Yes
Record

  1. City Council adopted a resolution stating its intent to keep city borrowing (general obligation debt) at or below 60% of the state limit.

    City Council

  2. The borrowing-limit resolution passed 8-1.

    City Council

  3. City Council adopted an ordinance creating a capital borrowing policy that ties annual borrowing levels to changes in equalized property value and includes reporting and safeguards.

    City Council

  4. The capital borrowing policy ordinance passed 6-3.

    City Council

  5. A meeting agenda included an action item titled “Treasurer’s Report.”

    City Council

  6. Staff presented a plan to set up dedicated accounts at the Lakeshore Community Foundation to support perpetual care flowers and the community band, with a stated goal of reducing reliance on property taxes.

    City Council

  7. The proposal described transferring raised funds from the city to the Lakeshore Community Foundation for professional investment and long-term support of those programs.

    City Council

  8. The foundation-account item was presented for informational and discussion purposes only, with no formal council action requested.

    City Council

  9. Council asked staff to bring Lakeshore Community Foundation representatives to a future work session.

    City Council
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