10-14-2024 CC Agenda Packet - Laserfiche WebLink

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3 9-17-2024 CBLID Annual Meeting Minutes Draft 9-30-2024 B. Proposed Budget for 2025 At each CBLID Annual Meeting a budget is proposed by the Board, and the Carman Bay property owners present vote to approve the budget for the following year. The Board has approved the “Statement of 2025 Annual Budget, September 8, 2024”. Kieper presented the 2025 Proposed Budget (see attached “Statement of 2025 Annual Budget, Sep- tember 8, 2024”. The worksheets used to generate the 2025 Budget are included in the August 20, 2024 Board Meeting Minutes that are posted on the CBLID webpage). The 2025 Budget is built from the bottom up to meet the needs of the public project. The Board forecasts expenses of $40,469 to manage the two known aquatic invasive plants, Curlyleaf Pondweed and Eurasian Watermilfoil. The majority of the expenses are based on the experience of 2024, treating one large milfoil area with Pro- cellaCOR, and the 3-year guarantee. There is one new item in the budget, an expenditure for Outside Accounting Services in the amount of $3,600. For a volunteer board member, government funds accounting can be complex. Record keeping and financial reporting requires a significant number of hours. It is already difficult to recruit CBLID board members, let alone a treasurer. The core issues are meeting government standards and long-term consistency in reporting. The budgeted amount is an estimate that allows the board to ex- plore this issue and engage an outside accounting service if warranted. Proposed 2025 revenue is $33,600. The revenue requirement is based on the budget year expenses, fund balances, timing of the receipt of funds and future year forecasting. This translates to a $300 levy for the 2025 tax year for each of the 112 District properties. Past levies have ranged from $200 to $300 per property. It is not advisable to plan on grant revenue from the MN DNR “Invasive Spe- cies Program”, or donations. Projected 2025 expenditures exceed revenues and the $6,869 difference will come from District funds. Owen put forward a “Motion to approve The Statement of 2025 Annual Budget dated September 8, 2024, with revenues of $33,600 and expenditures of $40,469.” 2nd by Chalupsky. VOTE by voice of all District property owners present with one vote per property. All who voted, voted Aye, Nays 0. MOTION PASSES. C. Approval of Proposed Projects Over $5,000 for 2025 Kieper stated that the District requires property owner approval on projects costing more than $5,000. The District has one public project of controlling, when reasonably achievable, aquatic invasive spe- cies in Carman Bay. The 2025 budget represents that one project. Tucker put forward a “Motion to approve the District’s 2025 public project of controlling, when rea- sonably achievable, aquatic invasive species in Carman Bay. The District’s 2025 forecasted project expenses are $40,469.” 2nd by Kennefick. VOTE by voice of all District property owners present with one vote per property. All who voted, voted Aye, Nays 0. MOTION PASSES. D. Proposed Tax Levy for 2025 Kieper stated that as required by our governing documents, the Board of Directors is required to pro- pose a levy including the proposed distribution of such levy among the property owners. The vote shall be by the Board Directors only. The proposed special assessment levy due in 2025 as indicated 161