Carman Bay Lake Improvement District - Annual Report 2025

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- 2 - Financial Condition of Carman Bay Lake Improvement District The one hundred and twelve District properties continue to thoughtfully finance the public project to control invasive aquatic plant species. Carman Bay Lake Improvement District remains financially strong with no readily apparent condition or event that indicates distress, whereby the District will be unable to meet its obligations as they become due within one year after December 31, 2025. The District has sufﬁcient available funds to cover the 2026 budgeted operating expenditures of $39,173, absorb a moderate level of unplanned expenses, and maintain a positive cash reserve for 2027 operations. The following ﬁnancial statements are attached: 1) Balance Sheet, and 2) Statement of Revenues, Expenditures, and Change in Cash Balances. Special Assessments are recorded as receivables when Orono’s City Council adopts a resolution certifying the current-year assessment roll. Occasionally, the District receives an intergovernmental grant from the Minnesota Department of Natural Resources Invasive Aquatic Plant Management Program. Grants are recorded as receivables in accordance with the award notiﬁcation. Both are recognized as revenue consistent with the bank account credit dates. The deposit account is fully insured by the Federal Deposit Insurance Corporation. Status of All Projects in the Carman Bay Lake Improvement District All the projects were completed. The District has the capacity to undertake public projects permitted by the Department of Natural Resources that, where feasible and practicable, reduce the abundance of invasive aquatic species, including non-native plants, animals, and other organisms, while substantially protecting the native community. The 2025 project focused on reducing the abundance of perennial curlyleaf pondweed and Eurasian watermilfoil to a littoral frequency of 20% or less while substantially protecting the native plant community as measured by the end-of-season Aquatic Plant Survey (point-intercept). The District treated approximately 59 acres of curlyleaf pondweed and 24 acres of Eurasian watermilfoil. The point-intercept survey detected curlyleaf pondweed at 2% occurrence with a <0.1 littoral density, and Eurasian watermilfoil was reported at 7% occurrence with a 0.1 density. The impact of the herbicide control project on the native plant community was evaluated by analyzing the point-intercept data in the aggregate. Point-intercept data for the period of 2018-2025 demonstrate a substantially protected native plant community.