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Council creates pre-bond fund, maintains $500,000 target in fund 211 and adopts 'no-change' penny policy
Summary
Forest Lake created fund 322 to track pre-bond public works expenditures, approved maintaining a $500,000 target in fund 211 while postponing Forest Road construction, and voted to adopt a 'no-change' utility billing policy; council also received an update on a proposed local sales tax bill moving through the legislature.
The Forest Lake City Council took several finance and billing actions on March 26 intended to protect the city’s capital planning and reduce cash-handling risk.
Staff presented the creation of fund 322 as a pre-bond account to separately track expenditures in 2025 and 2026 that could be reimbursed if the city later issues a bond to fund a public works facility. The council unanimously approved establishing the account and directing staff to move eligible expenditures into it.
On fund 211 (the capital project account discussed in prior workshops), staff…
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