Resolved Updated

financial sustainability and debt management policy

Keeping city finances healthy by limiting debt and funding needed projects.

What to Watch
Watch whether the city starts regularly publishing an easy-to-read snapshot showing current borrowing versus the 60% target and the state limit.
Coming Up

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

The Story

On Nov. 3, the City Council voted 8-1 to restate a goal: keep city borrowing at or below 60% of the state’s legal limit. It’s a clear benchmark residents can point to the next time big projects come with a borrowing plan.

Key Decisions
  1. 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 reaffirming an intent to keep total general obligation debt at or below 60% of the state statutory limit.

    City Council

  2. The resolution passed on an 8-1 vote, with one councilmember voting no.

    City Council
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