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Audit: Forest Lake Area Schools posts clean opinion, general fund stronger; proposed levy up 2.4%
Summary
An LD Carlson audit presented an unmodified (clean) opinion for Forest Lake Area Schools and reported stronger general fund cash and fund balances; the district proposed a 2.4% levy increase for payable 2026 with limited homeowner impact shown in sample statements.
Forest Lake Area Schools officials presented their annual financial audit and Truth in Taxation information on Dec. 4, with the district auditor reporting a clean (unmodified) opinion and improved financial position while board staff explained a modest proposed levy increase for payable 2026.
Jackie of LD Carlson told the board the audit contained no material weaknesses and no instances of legal noncompliance, and that the district implemented GASB guidance related to compensated absences. "If you're looking at your audit opinion, you're gonna see...unmodified or clean opinions," the auditor said during the presentation.
Key financial figures the auditor gave included year-end general fund cash and investments of about $23.5 million and general fund revenues of roughly $99 million, with expenditures near $92 million. The general fund unassigned fund balance was reported around $6.9 million (approximately 7.5% of expenditures under the district's calculation); the auditor noted different statewide calculations can yield a higher comparative percentage because of differing exclusions.
In the Truth in Taxation presentation, district staff described the proposed payable-2026 levy as a 2.4% increase and showed sample property tax statements illustrating small changes for typical homestead and commercial properties. The presenter explained that individual tax bills vary by property valuation change and noted relief programs such as homestead credit refunds and senior deferrals for those who may be eligible.
Board members asked questions about fund-balance targets and the district health insurance fund, which showed a deficit that the administration said it plans to eliminate over time. The auditor recommended monitoring the health fund and reviewing premiums to bring the net position back to positive.
The board accepted the audit presentation and proceeded to the contested appointment item later in the evening.
