06-23-2025 Agenda Packet Cc - Regular Meeting

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updated annually as part of the budgeting process and was completed during 2024 budget process, with final adoption in December. RELEVANT FINANCIAL POLICIES The City has formalized 6 additional financial policies in 2019 and continues to review and update as needed. The five financial policies adopted in 2019 include the following: Operating Budget Policy, Revenue Policy, Expenditure and Purchasing Policy, Debt Management Policy, Fixed Asset Policy and Grant Policy. In 2011, the City amended its fund balance policy to reflect the requirements of fund balance reporting addressed by GASB Statement No. 54. The policy also sets a fund balance minimum and maximum for the General Fund. In 2024, the fund balance policy was amended to adjust the minimum and add in the Golf Course Fund to the policy. The CIP that was adopted in 2012 is updated annually and is the basis for long-range capital planning and budgeting for the City. The investment policy was established in 1988 and has since also been updated. The Cell Phone Use Policy was updated in 2020 and was originally adopted in 2013. MAJOR INITIATIVES Cooperative Efforts with Other Jurisdictions The City is involved in a cooperative arrangement for fire services with the City of Long Lake. The cities of Long Lake and Orono jointly own a fire station. Orono Fire Department began operations in the Casco Point and Tonkawa areas on July 1, 2024. The current contract for fire protection service by the City of Long Lake expires December 31, 2025. There is an amendment to the current contract to ensure the development of a new Joint Powers Agreement are met and executed by July 1 st, 2025 to be effective January 1, 2026. The City of Orono and Long Lake are in discussions to resolve fire matters. The City provides police protection to the cities of Spring Park, Minnetonka Beach, and Mound. The efficiencies provided by one department serving four communities provide all of the cities enhanced services. For example, one larger department allows for dedicated investigators, school resource officers, and participation in a regional drug task force. The City provides Public Works service to the City of Spring Park. In 2016, there was an official agreement for standby service, which was provided for decades prior unofficially. In 2021, agreement to provide full public works and parks support was approved and went into effect on September 1, 2021. The City continues to be involved with a group of fourteen cities located adjacent to Lake Minnetonka in an effort to identify new opportunities for cooperative service delivery to enable improved services and increased efficiency. Water and Sewer Infrastructure The City operates and maintains both a water distribution and sanitary sewer collection system. The Services (MCES) interceptor sewers for treatment by MCES at the Blue Lake treatment plant. The City pays MCES for sanitary sewer treatment charges on a monthly basis, and these MCES treatment costs 13 40