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HomeMy WebLinkAbout07-07-26 City Council Meeting PacketCity Council Meeting Tuesday, July 7, 2026 7:00 p.m. City of Lake Elmo | 3880 Laverne Avenue North AGENDA Call To Order/Pledge Of Allegiance Approval Of Agenda Presentations Wash Co. Middle St Croix Valley To Phalen -Keller Regional Trail Long -Range Plan Washington County Planner II Andrea Rehm presenting COUNCIL MEMO - PHALEN KELLER TRAIL.PDF PRESENTATION - WASHINGTON COUNTY MSTCV-PK RT LRP.PDF Public Comments/Inquiries Approval Of Minutes 06 -02 -26 CITY COUNCIL MEETING MINUTES.PDF 06 -16 -26 CITY COUNCIL MEETING MINUTES.PDF Consent Agenda Approve Payments And Disbursements APPROVE PAYMENTS AND DISBURSEMENTS.PDF Appoint 2026 Election Judges STAFF REPORT - APPOINT ELECTION JUDGES.PDF RESOLUTION APPOINTING ELECTION JUDGES.PDF 2026 ELECTION JUDGE LIST.PDF Approve Full Time Firefighter Hire STAFF REPORT FULL TIME FF HIRE -A LILLY.PDF Accept Donation To The Fire Department From Dairy Queen STAFF REPORT -DQ DONATION -7 -726 CONSENT.PDF RESOLUTION 2026 -045 DQ DONATION.PDF Approve Lake Elmo Elementary Development Agreement –First Amendment Contract Planner Nathan Fuerst presenting CC REPORT -LEE DA AMENDMENT 1.PDF Approve Oak Land Middle School -Site Improvement Agreement First Amendment Contract Planner Nathan Fuerst presenting CC REPORT -OAK LAND SIA AMENDMENT 1.PDF Approve Pay Request #1 For Test Well 6 STAFF REPORT -TEST WELL 6 PAY REQ 1.PDF PAY REQUEST LETTER 1.PDF Accept Bids And Award A Contract For The 2026 Seal Coat Project COUNCIL MEMO -2026 SEAL COAT AWARD CONTRACT - CORRECTED.PDF LETTER OF RECOMMENDATION -2026 SEAL COAT.PDF LOCATION MAP -2026 SEAL COAT MAP.PDF PROJECT SCHEDULE -2026 STREET MAINTENENCE PROJECT.PDF Accept Quotes And Award A Contract For The 2026 Striping Project COUNCIL MEMO -2026 STRIPING AWARD CONTRACT.PDF PROPOSAL -SIR LINES A LOT QUOTE PROPOSAL.PDF LOCATION MAP -2026 STRIPING.PDF Approve Release Of Warranty Security For The Ebertz Addition (Drake Motor Partners, LLC) COUNCIL MEMO -EBERTZ NORTH - RELEASE WARRANTY SECURITY.PDF REDUCTION WRKSHT -EBERTZ NORTH (DRAKE) SECURITY.PDF Approve Cooperative Agreement Payment #1 For TH36 -Lake Elmo Avenue Improvements STAFF REPORT - TH36 -CSAH17 PAY REQ 1.PDF PR1 -INVOICE 236361 -COOPERATIVE AGREEMENT 18223.PDF Regular Agenda Presentation & Acceptance Of The 2025 Annual Comprehensive Financial Report Ryan Schmidt, Partner, Schlenner Wenner presenting 1 - STAFF REPORT -2025 REPORT AND AUDIT.PDF 2025 AUDITED FINANCIAL STATEMENTS - LAKE ELMO.PDF 2025 REPORT TO THE MEMBERS OF GOVERNANCE - LAKE ELMO.PDF 2025 AUDIT PRESENTATION - LAKE ELMO.PDF Purchasing Policy Revisions Finance Director Clarissa Hadler presenting STAFF REPORT - PURCHASING POLICY.PDF CITY OF LAKE ELMO PURCHASING POLICY - REDLINED.PDF CITY OF LAKE ELMO PURCHASING POLICY - FINAL.PDF VENDOR TOTALS OVER 15K.PDF INVOICES OVER 15K.PDF Highpointe Crossing Final Plat Contract Planner Nathan Fuerst presenting CC REPORT - HIGHPOINTE CROSSING FINAL PLAT.PDF Highpointe Crossing Development Agreement Contract Planner Nathan Fuerst presenting CC SR - HIGHPOINTE CROSSING DA.PDF Mayor And Councilmember Salaries Administrative Services Director Jennifer Doyle presenting STAFF REPORT - COUNCIL PAY.PDF ORDINANCE 2026 -08 SETTING SALARIES OF MAYOR AND COUNCILMEMBERS.PDF Engineering Services For South Water Treatment Plant Senior Project Manager Jack Griffin presenting STAFF REPORT - SOUTH WTP ENGINEERING SERVICES DISCUSSION.PDF Stormwater Utility Code Review City Engineer Nate Stanley presenting COUNCIL MEMO -STORMWATER UTILITY CODE REVIEW.PDF FINANCE - PW - MEMO RE APPEALS PROGRAM.PDF EXISTING CITY CODE STORMWATER MANAGEMENT UTILITY.PDF LAKE ELMO - STORMWATER UTILITY RESEARCH AND RECOMMENDATIONS - 06302026.PDF STORMWATER UTILITY CODE REVIEW PRESENTATION.PDF Council Reports Staff Reports Future Agenda Items FUTURE AGENDA ITEMS.PDF Adjourn In accordance with the requirements of Minn. Stat. Section 13D.02, members may participate remotely via interactive technology. Our Mission is to Provide Quality Public Services in a Fiscally Responsible Manner in Partnership with our Community A. B. C. 1. Documents: D. E. Documents: F. 1. Documents: 2. Documents: 3. Documents: 4. Documents: 5. Documents: 6. Documents: 7. Documents: 8. Documents: 9. Documents: 10. Documents: 11. Documents: G. 1. Documents: 2. Documents: 3. Documents: 4. Documents: 5. Documents: 6. Documents: 7. Documents: H. I. J. Documents: K. City Council MeetingTuesday, July 7, 2026 7:00 p.m.City of Lake Elmo | 3880 Laverne Avenue NorthAGENDACall To Order/Pledge Of AllegianceApproval Of AgendaPresentationsWash Co. Middle St Croix Valley To Phalen -Keller Regional Trail Long -Range PlanWashington County Planner II Andrea Rehm presentingCOUNCIL MEMO - PHALEN KELLER TRAIL.PDFPRESENTATION - WASHINGTON COUNTY MSTCV-PK RT LRP.PDFPublic Comments/InquiriesApproval Of Minutes06-02 -26 CITY COUNCIL MEETING MINUTES.PDF06-16 -26 CITY COUNCIL MEETING MINUTES.PDFConsent AgendaApprove Payments And DisbursementsAPPROVE PAYMENTS AND DISBURSEMENTS.PDFAppoint 2026 Election Judges STAFF REPORT - APPOINT ELECTION JUDGES.PDF RESOLUTION APPOINTING ELECTION JUDGES.PDF 2026 ELECTION JUDGE LIST.PDF Approve Full Time Firefighter Hire STAFF REPORT FULL TIME FF HIRE -A LILLY.PDF Accept Donation To The Fire Department From Dairy Queen STAFF REPORT -DQ DONATION -7 -726 CONSENT.PDF RESOLUTION 2026 -045 DQ DONATION.PDF Approve Lake Elmo Elementary Development Agreement –First Amendment Contract Planner Nathan Fuerst presenting CC REPORT -LEE DA AMENDMENT 1.PDF Approve Oak Land Middle School -Site Improvement Agreement First Amendment Contract Planner Nathan Fuerst presenting CC REPORT -OAK LAND SIA AMENDMENT 1.PDF Approve Pay Request #1 For Test Well 6 STAFF REPORT -TEST WELL 6 PAY REQ 1.PDF PAY REQUEST LETTER 1.PDF Accept Bids And Award A Contract For The 2026 Seal Coat Project COUNCIL MEMO -2026 SEAL COAT AWARD CONTRACT - CORRECTED.PDF LETTER OF RECOMMENDATION -2026 SEAL COAT.PDF LOCATION MAP -2026 SEAL COAT MAP.PDF PROJECT SCHEDULE -2026 STREET MAINTENENCE PROJECT.PDF Accept Quotes And Award A Contract For The 2026 Striping Project COUNCIL MEMO -2026 STRIPING AWARD CONTRACT.PDF PROPOSAL -SIR LINES A LOT QUOTE PROPOSAL.PDF LOCATION MAP -2026 STRIPING.PDF Approve Release Of Warranty Security For The Ebertz Addition (Drake Motor Partners, LLC) COUNCIL MEMO -EBERTZ NORTH - RELEASE WARRANTY SECURITY.PDF REDUCTION WRKSHT -EBERTZ NORTH (DRAKE) SECURITY.PDF Approve Cooperative Agreement Payment #1 For TH36 -Lake Elmo Avenue Improvements STAFF REPORT - TH36 -CSAH17 PAY REQ 1.PDF PR1 -INVOICE 236361 -COOPERATIVE AGREEMENT 18223.PDF Regular Agenda Presentation & Acceptance Of The 2025 Annual Comprehensive Financial Report Ryan Schmidt, Partner, Schlenner Wenner presenting 1 - STAFF REPORT -2025 REPORT AND AUDIT.PDF 2025 AUDITED FINANCIAL STATEMENTS - LAKE ELMO.PDF 2025 REPORT TO THE MEMBERS OF GOVERNANCE - LAKE ELMO.PDF 2025 AUDIT PRESENTATION - LAKE ELMO.PDF Purchasing Policy Revisions Finance Director Clarissa Hadler presenting STAFF REPORT - PURCHASING POLICY.PDF CITY OF LAKE ELMO PURCHASING POLICY - REDLINED.PDF CITY OF LAKE ELMO PURCHASING POLICY - FINAL.PDF VENDOR TOTALS OVER 15K.PDF INVOICES OVER 15K.PDF Highpointe Crossing Final Plat Contract Planner Nathan Fuerst presenting CC REPORT - HIGHPOINTE CROSSING FINAL PLAT.PDF Highpointe Crossing Development Agreement Contract Planner Nathan Fuerst presenting CC SR - HIGHPOINTE CROSSING DA.PDF Mayor And Councilmember Salaries Administrative Services Director Jennifer Doyle presenting STAFF REPORT - COUNCIL PAY.PDF ORDINANCE 2026 -08 SETTING SALARIES OF MAYOR AND COUNCILMEMBERS.PDF Engineering Services For South Water Treatment Plant Senior Project Manager Jack Griffin presenting STAFF REPORT - SOUTH WTP ENGINEERING SERVICES DISCUSSION.PDF Stormwater Utility Code Review City Engineer Nate Stanley presenting COUNCIL MEMO -STORMWATER UTILITY CODE REVIEW.PDF FINANCE - PW - MEMO RE APPEALS PROGRAM.PDF EXISTING CITY CODE STORMWATER MANAGEMENT UTILITY.PDF LAKE ELMO - STORMWATER UTILITY RESEARCH AND RECOMMENDATIONS - 06302026.PDF STORMWATER UTILITY CODE REVIEW PRESENTATION.PDF Council Reports Staff Reports Future Agenda Items FUTURE AGENDA ITEMS.PDF Adjourn In accordance with the requirements of Minn. Stat. Section 13D.02, members may participate remotely via interactive technology. Our Mission is to Provide Quality Public Services in a Fiscally Responsible Manner in Partnership with our Community A.B.C.1.Documents:D.E.Documents:F.1.Documents:2.Documents: 3. Documents: 4. Documents: 5. Documents: 6. Documents: 7. Documents: 8. Documents: 9. Documents: 10. Documents: 11. Documents: G. 1. Documents: 2. Documents: 3. Documents: 4. Documents: 5. Documents: 6. Documents: 7. Documents: H. I. J. Documents: K. City Council MeetingTuesday, July 7, 2026 7:00 p.m.City of Lake Elmo | 3880 Laverne Avenue NorthAGENDACall To Order/Pledge Of AllegianceApproval Of AgendaPresentationsWash Co. Middle St Croix Valley To Phalen -Keller Regional Trail Long -Range PlanWashington County Planner II Andrea Rehm presentingCOUNCIL MEMO - PHALEN KELLER TRAIL.PDFPRESENTATION - WASHINGTON COUNTY MSTCV-PK RT LRP.PDFPublic Comments/InquiriesApproval Of Minutes06-02 -26 CITY COUNCIL MEETING MINUTES.PDF06-16 -26 CITY COUNCIL MEETING MINUTES.PDFConsent AgendaApprove Payments And DisbursementsAPPROVE PAYMENTS AND DISBURSEMENTS.PDFAppoint 2026 Election JudgesSTAFF REPORT - APPOINT ELECTION JUDGES.PDFRESOLUTION APPOINTING ELECTION JUDGES.PDF2026 ELECTION JUDGE LIST.PDFApprove Full Time Firefighter HireSTAFF REPORT FULL TIME FF HIRE -A LILLY.PDFAccept Donation To The Fire Department From Dairy QueenSTAFF REPORT -DQ DONATION -7 -726 CONSENT.PDFRESOLUTION 2026 -045 DQ DONATION.PDFApprove Lake Elmo Elementary Development Agreement –First AmendmentContract Planner Nathan Fuerst presentingCC REPORT -LEE DA AMENDMENT 1.PDFApprove Oak Land Middle School -Site Improvement Agreement First AmendmentContract Planner Nathan Fuerst presentingCC REPORT -OAK LAND SIA AMENDMENT 1.PDFApprove Pay Request #1 For Test Well 6STAFF REPORT -TEST WELL 6 PAY REQ 1.PDFPAY REQUEST LETTER 1.PDFAccept Bids And Award A Contract For The 2026 Seal Coat ProjectCOUNCIL MEMO -2026 SEAL COAT AWARD CONTRACT - CORRECTED.PDFLETTER OF RECOMMENDATION -2026 SEAL COAT.PDFLOCATION MAP -2026 SEAL COAT MAP.PDFPROJECT SCHEDULE -2026 STREET MAINTENENCE PROJECT.PDFAccept Quotes And Award A Contract For The 2026 Striping ProjectCOUNCIL MEMO -2026 STRIPING AWARD CONTRACT.PDF PROPOSAL -SIR LINES A LOT QUOTE PROPOSAL.PDF LOCATION MAP -2026 STRIPING.PDF Approve Release Of Warranty Security For The Ebertz Addition (Drake Motor Partners, LLC) COUNCIL MEMO -EBERTZ NORTH - RELEASE WARRANTY SECURITY.PDF REDUCTION WRKSHT -EBERTZ NORTH (DRAKE) SECURITY.PDF Approve Cooperative Agreement Payment #1 For TH36 -Lake Elmo Avenue Improvements STAFF REPORT - TH36 -CSAH17 PAY REQ 1.PDF PR1 -INVOICE 236361 -COOPERATIVE AGREEMENT 18223.PDF Regular Agenda Presentation & Acceptance Of The 2025 Annual Comprehensive Financial Report Ryan Schmidt, Partner, Schlenner Wenner presenting 1 - STAFF REPORT -2025 REPORT AND AUDIT.PDF 2025 AUDITED FINANCIAL STATEMENTS - LAKE ELMO.PDF 2025 REPORT TO THE MEMBERS OF GOVERNANCE - LAKE ELMO.PDF 2025 AUDIT PRESENTATION - LAKE ELMO.PDF Purchasing Policy Revisions Finance Director Clarissa Hadler presenting STAFF REPORT - PURCHASING POLICY.PDF CITY OF LAKE ELMO PURCHASING POLICY - REDLINED.PDF CITY OF LAKE ELMO PURCHASING POLICY - FINAL.PDF VENDOR TOTALS OVER 15K.PDF INVOICES OVER 15K.PDF Highpointe Crossing Final Plat Contract Planner Nathan Fuerst presenting CC REPORT - HIGHPOINTE CROSSING FINAL PLAT.PDF Highpointe Crossing Development Agreement Contract Planner Nathan Fuerst presenting CC SR - HIGHPOINTE CROSSING DA.PDF Mayor And Councilmember Salaries Administrative Services Director Jennifer Doyle presenting STAFF REPORT - COUNCIL PAY.PDF ORDINANCE 2026 -08 SETTING SALARIES OF MAYOR AND COUNCILMEMBERS.PDF Engineering Services For South Water Treatment Plant Senior Project Manager Jack Griffin presenting STAFF REPORT - SOUTH WTP ENGINEERING SERVICES DISCUSSION.PDF Stormwater Utility Code Review City Engineer Nate Stanley presenting COUNCIL MEMO -STORMWATER UTILITY CODE REVIEW.PDF FINANCE - PW - MEMO RE APPEALS PROGRAM.PDF EXISTING CITY CODE STORMWATER MANAGEMENT UTILITY.PDF LAKE ELMO - STORMWATER UTILITY RESEARCH AND RECOMMENDATIONS - 06302026.PDF STORMWATER UTILITY CODE REVIEW PRESENTATION.PDF Council Reports Staff Reports Future Agenda Items FUTURE AGENDA ITEMS.PDF Adjourn In accordance with the requirements of Minn. Stat. Section 13D.02, members may participate remotely via interactive technology. Our Mission is to Provide Quality Public Services in a Fiscally Responsible Manner in Partnership with our Community A.B.C.1.Documents:D.E.Documents:F.1.Documents:2.Documents:3.Documents:4.Documents:5.Documents:6.Documents:7.Documents:8.Documents:9.Documents: 10. Documents: 11. Documents: G. 1. Documents: 2. Documents: 3. Documents: 4. Documents: 5. Documents: 6. Documents: 7. Documents: H. I. J. Documents: K. City Council MeetingTuesday, July 7, 2026 7:00 p.m.City of Lake Elmo | 3880 Laverne Avenue NorthAGENDACall To Order/Pledge Of AllegianceApproval Of AgendaPresentationsWash Co. Middle St Croix Valley To Phalen -Keller Regional Trail Long -Range PlanWashington County Planner II Andrea Rehm presentingCOUNCIL MEMO - PHALEN KELLER TRAIL.PDFPRESENTATION - WASHINGTON COUNTY MSTCV-PK RT LRP.PDFPublic Comments/InquiriesApproval Of Minutes06-02 -26 CITY COUNCIL MEETING MINUTES.PDF06-16 -26 CITY COUNCIL MEETING MINUTES.PDFConsent AgendaApprove Payments And DisbursementsAPPROVE PAYMENTS AND DISBURSEMENTS.PDFAppoint 2026 Election JudgesSTAFF REPORT - APPOINT ELECTION JUDGES.PDFRESOLUTION APPOINTING ELECTION JUDGES.PDF2026 ELECTION JUDGE LIST.PDFApprove Full Time Firefighter HireSTAFF REPORT FULL TIME FF HIRE -A LILLY.PDFAccept Donation To The Fire Department From Dairy QueenSTAFF REPORT -DQ DONATION -7 -726 CONSENT.PDFRESOLUTION 2026 -045 DQ DONATION.PDFApprove Lake Elmo Elementary Development Agreement –First AmendmentContract Planner Nathan Fuerst presentingCC REPORT -LEE DA AMENDMENT 1.PDFApprove Oak Land Middle School -Site Improvement Agreement First AmendmentContract Planner Nathan Fuerst presentingCC REPORT -OAK LAND SIA AMENDMENT 1.PDFApprove Pay Request #1 For Test Well 6STAFF REPORT -TEST WELL 6 PAY REQ 1.PDFPAY REQUEST LETTER 1.PDFAccept Bids And Award A Contract For The 2026 Seal Coat ProjectCOUNCIL MEMO -2026 SEAL COAT AWARD CONTRACT - CORRECTED.PDFLETTER OF RECOMMENDATION -2026 SEAL COAT.PDFLOCATION MAP -2026 SEAL COAT MAP.PDFPROJECT SCHEDULE -2026 STREET MAINTENENCE PROJECT.PDFAccept Quotes And Award A Contract For The 2026 Striping ProjectCOUNCIL MEMO -2026 STRIPING AWARD CONTRACT.PDFPROPOSAL-SIR LINES A LOT QUOTE PROPOSAL.PDFLOCATION MAP -2026 STRIPING.PDFApprove Release Of Warranty Security For The Ebertz Addition (Drake Motor Partners, LLC)COUNCIL MEMO -EBERTZ NORTH - RELEASE WARRANTY SECURITY.PDFREDUCTION WRKSHT -EBERTZ NORTH (DRAKE) SECURITY.PDFApprove Cooperative Agreement Payment #1 For TH36 -Lake Elmo Avenue ImprovementsSTAFF REPORT - TH36 -CSAH17 PAY REQ 1.PDFPR1 -INVOICE 236361 -COOPERATIVE AGREEMENT 18223.PDFRegular AgendaPresentation & Acceptance Of The 2025 Annual Comprehensive Financial ReportRyan Schmidt, Partner, Schlenner Wenner presenting1 - STAFF REPORT -2025 REPORT AND AUDIT.PDF2025 AUDITED FINANCIAL STATEMENTS - LAKE ELMO.PDF2025 REPORT TO THE MEMBERS OF GOVERNANCE - LAKE ELMO.PDF2025 AUDIT PRESENTATION - LAKE ELMO.PDFPurchasing Policy RevisionsFinance Director Clarissa Hadler presentingSTAFF REPORT - PURCHASING POLICY.PDFCITY OF LAKE ELMO PURCHASING POLICY - REDLINED.PDFCITY OF LAKE ELMO PURCHASING POLICY - FINAL.PDFVENDOR TOTALS OVER 15K.PDFINVOICES OVER 15K.PDFHighpointe Crossing Final PlatContract Planner Nathan Fuerst presentingCC REPORT - HIGHPOINTE CROSSING FINAL PLAT.PDFHighpointe Crossing Development AgreementContract Planner Nathan Fuerst presenting CC SR - HIGHPOINTE CROSSING DA.PDF Mayor And Councilmember Salaries Administrative Services Director Jennifer Doyle presenting STAFF REPORT - COUNCIL PAY.PDF ORDINANCE 2026 -08 SETTING SALARIES OF MAYOR AND COUNCILMEMBERS.PDF Engineering Services For South Water Treatment Plant Senior Project Manager Jack Griffin presenting STAFF REPORT - SOUTH WTP ENGINEERING SERVICES DISCUSSION.PDF Stormwater Utility Code Review City Engineer Nate Stanley presenting COUNCIL MEMO -STORMWATER UTILITY CODE REVIEW.PDF FINANCE - PW - MEMO RE APPEALS PROGRAM.PDF EXISTING CITY CODE STORMWATER MANAGEMENT UTILITY.PDF LAKE ELMO - STORMWATER UTILITY RESEARCH AND RECOMMENDATIONS - 06302026.PDF STORMWATER UTILITY CODE REVIEW PRESENTATION.PDF Council Reports Staff Reports Future Agenda Items FUTURE AGENDA ITEMS.PDF Adjourn In accordance with the requirements of Minn. Stat. Section 13D.02, members may participate remotely via interactive technology. Our Mission is to Provide Quality Public Services in a Fiscally Responsible Manner in Partnership with our Community A.B.C.1.Documents:D.E.Documents:F.1.Documents:2.Documents:3.Documents:4.Documents:5.Documents:6.Documents:7.Documents:8.Documents:9.Documents:10.Documents:11.Documents:G.1.Documents:2.Documents:3.Documents:4. Documents: 5. Documents: 6. Documents: 7. Documents: H. I. J. Documents: K. STAFF REPORT DATE: July 7th 2026 Discussion TO: Mayor and Councilmembers FROM: Adam Swnanepoel – Assistant Public Works Director AGENDA ITEM: Phalen-Keller Regional Trail Long-Range Plan CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☒ Responsive, transparent, adaptive governance☒ ☐ Managed Growth ☐ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: Over the past three years, Washington County has provided the Parks Commission with regular updates on the development of the county’s regional trail system. The Phalen-Keller Trail is a key component of this network, serving as an important connection between the city, neighboring communities, and the regional park system. Once fully developed, the Phalen-Keller Trail will function as a central arterial route within Washington County’s regional trail network, linking multiple communities and providing an additional option for both recreation and transportation. It will also connect to the Central Greenway Regional Trail, giving residents direct access to three premier regional park facilities: Big Marine Park Reserve, Lake Elmo Park Reserve, and Cottage Grove Ravine Regional Park. In addition, the trail will provide a safe, separated off-road corridor that integrates with local trail systems and other recreational amenities, enhancing regional connectivity and accessibility. ISSUE BEFORE COUNCIL: Are there any questions for the County Planner regarding the future trail? PROPOSAL DETAILS/ANALYSIS: The development of the Phalen-Keller Regional Trail through the City of Lake Elmo will be a significant asset for both the local community and trail users throughout Washington County. As a key segment of the regional trail network, the trail will enhance connectivity between neighborhoods, parks, and surrounding communities while providing residents and visitors with safe, accessible opportunities for recreation and active transportation. Previous community engagement done by the city has consistently demonstrated the importance of trails to Lake Elmo residents. Survey results indicate that 45% of current trail users utilize the city's trail system for walking and biking, highlighting the value of multi-use trails in supporting healthy, active lifestyles. In addition, biking ranked as respondents' second most preferred trail activity, with 41% identifying it as a primary use. The growing demand for high-quality trail infrastructure which accommodates a variety of users, including pedestrians, cyclists, runners, and families. The completion of the Greenway trail will help meet this demand by expanding recreational opportunities, improving regional connectivity, and providing a safe, separated corridor for non-motorized travel. Beyond its recreational benefits, the trail will encourage active transportation, improve access to parks and other community destinations, and contribute to the overall quality of life for residents while supporting Washington County's long-term vision for a connected regional trail system. FISCAL IMPACT: The city will need to consider funding for this project. Currently the Parks CIP has allotted $520,00 in to help support the trail. Current cost or the city’s share of the project is unknow at this time. ATTACHMENTS: -Phalen Keller county trail presentation Middle St Croix Valley to Phalen-Keller Regional Trail Long-Range Plan Lake Elmo City Council –July 7, 2026 2 Agenda •Project Overview •Community Engagement •Next Steps 3 Project Overview 4 Regional Trail Long-Range Plans Regional Trails •“Tree trunks” or "highways" of system •Standard: 10 ft wide paved trail, with 10 ft buffer •Quality signage and amenities Long-Range Plans •Guidance on future alignment, development, management •Eligible for funding •Engagement with partners and public 5 Regional Trail Project Timeline Community Vision Long-Range Plan •Develop high- level concept •Identify areas for additional study Feasibility Study / Preliminary Design •Reengage stakeholders •Work through challenges, refine designs and costs Final Design •Finalize design •Formalize funding and agreements Construction • Construction coordination, likely in phases Open to Public Stakeholder Engagement 6 Corridor Background •~9 mile east-west arterial trail •West terminus: County line •East terminus: CSAH 21 (Middle St Croix Valley Regional Trail) •Link between 8 communities •Build on existing plans & studies, including Central Greenway Regional Trail 7 Engagement Structure KEY STAKEHOLDERS PROJECT LEADERSHIP PMT Planning Parks Engineering Consultant TAC GENERAL PUBLIC Pop-up Tables City & Town Meetings Open Houses County Staff State/Fed Agencies City/Townships Parks Commission 8 Long-Range Plan Timeline Winter – Spring 2026 •Visioning & Site Analysis Summer – Fall •Engagement & Data Collection Fall - Winter •Route Development & Plan Drafting Spring – Summer 2027 •Final Draft & Approval Process 9 Community Engagement Community Engagement •Open House #1 (June 24, 2026) •Online Survey •Pop -ups in Lake Elmo •National Night Out •Bluegrass Festival •Others? •Agency staff engagement •Commission and Council engagement 11 Next Steps 12 Next Steps •Continued public and agency engagement •Route alternative development and evaluation Andrea Rehm Planner II 651-430-4332 andrea.rehm@washingtoncountymn.gov Page 1 | 5 CITY OF LAKE ELMO CITY COUNCIL MINUTES June 2, 2026 CALL TO ORDER/PLEDGE OF ALLEGIANCE Mayor Cadenhead called the meeting to order at 7:00 pm. PRESENT: Mayor Charles Cadenhead and Councilmembers Nick Dragisich, Matt Hirn, Jeff Holtz, and Nick Kragness. Staff present: Administrator Miller, City Attorney Sonsalla, City Engineer Stanley, Public Works Director Tholen, Community Development Director Stopa, Senior Planner Jensen, Contract Planner Fuerst and Planning Assistant Moulis. APPROVAL OF AGENDA Councilmember Holtz, seconded by Councilmember, Kragness moved TO APPROVE THE AGENDA AS PRESENTED. Motion passed 5 – 0. ACCEPT MINUTES Councilmember Hirn, seconded by Councilmember Dragisich, moved TO ACCEPT THE MINUTES OF THE MAY 19, 2026 CITY COUNCIL MEETING AS PRESENTED. Motion passed 5 – 0. CONSENT AGENDA 1. Approve Payment of Disbursements 2. Approve Hire of New Public Works Operator III 3. Approve Hire of Fire Captain Hathaway 4. Approve Hire of Fire Captain Priester 5. Approve Hire of Fire Captain Wagner 6. Approve Community Development Intern Posting 7. Approve Public Works Lawn Mower Purchase 8. Approve Security Reduction for Lake Elmo Townhomes 8 (At Home Apartments) 9. Approve 2025 State Performance Measures Data Councilmember Holtz, seconded by Councilmember Kragness, moved TO APPROVE THE CONSENT AGENDA AS PRESENTED. Motion passed 5 - 0. Page 2 | 5 REGULAR AGENDA ITEM 1: Old Village Garden Improvements Phase 2 Public Works Director Tholen and Patrick O’Keefe, HKGi, presented a project overview of phase two which included tree planting. Director Tholen reviewed the tree species chosen for planting and the budgeted cost. Discussion was held regarding phase 1 improvements and replacement of damaged tulip bulbs. Councilmember Hirn stated that he was not in favor of spending additional funds on the project. Councilmember Kragness, seconded by Councilmember Holtz, moved TO APPROVE THE 2026 HKGI PROPOSAL FOR COORDINATION, CONSTRUCTION DRAWINGS, CONTRACTOR SELECTION, BIDDING AND CONSTRUCTION ADMINISTRATION FOR THE IMPLEMENTATION OF NEW AND REPLACEMENT TREES ALONG LAKE ELMO AVE. NOT TO EXCEED $16,470 IN 2026. Motion passed 4 – 1 (Hirn – nay). ITEM 2: Lions Park Master Plan Assistant Public Works Director Swanepoel presented a draft scope and RFQ to seek a consultant for preparation of a master plan for Lions Park future improvements. Councilmember Hirn expressed concern regarding public perception of the timing of implementation of recommendations in the plan, noting that improvements could be delayed due to development of the 76 acre park site. Councilmember Holtz agreed that the timing of planning for Lions Park is premature. Mayor Cadenhead offered a friendly amendment to the motion to delay the Lions Park Master Plan until a plan for the 76 acre parcel is complete. Councilmember Dragisich, seconded by Councilmember Kragness, moved approve the outlined scope and RFQ and seek a consultant for the Lions Park Master Plan upon the completion of the 76 acre parcel proposal. Motion passed 5 – 0. ITEM 3: Water Transfer Station Repairs Assistant Public Works Director Swanepoel reviewed the need for repairs to the water transfer station due to pump failure. Councilmember Dragisich, seconded by Councilmember HIrn, moved to approve making the necessary repairs to the booster station pump not to exceed $30,000. Motion passed 5 – 0. Page 3 | 5 ITEM 4: 9960 57th St – Front Yard Setbacks Variance Planning Assistant Moulis presented the request for construction of an accessory building, noting site constraints that limit location of the building. Findings of fact, conditions of approval and recommendations for approval were reviewed. Councilmember Holtz, seconded by Councilmember Dragisich, moved to approve Resolution 2026-040, approving the variance request to reduce accessory structure front yard setback requirement to 98.7 feet in the Residential Estate Zoning district for the property located at 9960 57th St N with the conditions of approval and findings of fact listed in the staff report. Motion passed 5 – 0. ITEM 5: Lake Elmo Medical Center Conditional Use Permit & Variance – 8650 Hudson Blvd. N. Planning Assistant Moulis presented the request for a CUP and variance to allow an addition to the existing 65,000 square foot building for a total of about 114,100 square feet of medical facility and office space and expansion of the parking lot. Findings of fact, conditions of approval and recommendations for approval were reviewed. Councilmember Holtz, seconded by Councilmember Dragisich, moved to approve Resolution 2026-037, approving a conditional use permit for a medical facility at the property located at 8650 Hudson Blvd N based on the findings of fact and subject to the conditions listed in the staff report. Motion passed 5 – 0. Councilmember Holtz, seconded by Councilmember Dragisich, moved to approve Resolution 2026-038, approving a variance request to reduce the West side yard setback to 27 feet at the property located at 8650 Hudson Blvd N based on the findings of fact and subject to the conditions listed in the staff report. Motion passed 5 – 0. ITEM 6: Authorize Preliminary Design, Geotechnical Services and Feasibility Report for the 2027 Street and Utility Improvements City Engineer Stanley reviewed the proposed project area, current conditions, scope of improvements, proposed project schedule and anticipated costs. Councilmember Hirn, seconded by Councilmember Kragness, moved to approve Resolution No. 2026-036, ordering preparation of Preliminary Design and Feasibility Report for the 2027 Street and Utility Improvements. Motion passed 5 – 0. Page 4 | 5 Councilmember Dragisich, seconded by Councilmember Holtz, moved to authorize the City Administrator the authority to sign a geotechnical services agreement in an amount not to- exceed $25,000. Motion passed 5 – 0. ITEM 7: OP-LRD Update Contract Planner Fuerst provided an update on the development of a new zoning district that would enable new rural development types, create publicly accessible open space and work around community septic issues. Planner Fuerst asked Council for their feedback on the project. Residential density, access to sewer and open space were discussed. Council expressed interest in continuing to develop the new zoning district. ITEM 8: Sketch Plan Review – Summergate Assemblage Contract Planner Fuerst presented a sketch plan from Summergate Development for the development of 117 acres accessible from Highway 10, east of Keats Avenue. Planner Fuerst noted than an environmental assessment would be required due to the number units proposed and outlined issues associated with developing the area before the 2040 comp plan update. Brian Tucker, Summergate Development, stated that they are planning starting the project in 2028 and commented on market conditions related to lot size. Casey Wollschlager, Summergate Development, commented on timing for the project. Discussion was held regarding infrastructure and the comp plan process. COUNCIL REPORTS Mayor Cadenhead: Reported on feedback received on the downtown plantings. Councilmember Holtz: Thanked the Chamber of Commerce for holding a ribbon cutting at Lions Park for the new playground. STAFF REPORTS AND ANNOUNCEMENTS City Administrator Miller: Reported on street light banners for downtown and asked for input on the process for selecting the banner design. Fire Chief Kalis: Noted fundraiser to be held at Dairy Queen to benefit the Fire Department. Page 5 | 5 Councilmember Holtz, seconded by Councilmember Hirn, moved to enter closed session pursuant to MN Stat. Section 13.05D, subdivision 3 (a) for the purposes of the City Administrator performance review. Motion passed 5 – 0. Meeting adjourned at 8:55 p.m. LAKE ELMO CITY COUNCIL ATTEST: ______________________________ Charles Cadenhead, Mayor _______________________________ Julie Johnson, City Clerk Page 1 | 3 CITY OF LAKE ELMO CITY COUNCIL MINUTES JUNE 16, 2026 CALL TO ORDER/PLEDGE OF ALLEGIANCE Mayor Cadenhead called the meeting to order at 7:00 pm. PRESENT: Mayor Charles Cadenhead and Councilmembers Nick Dragisich, Jeff Holtz, and Nick Kragness. ABSENT: Councilmember Matt Hirn. Staff present: Administrator Miller, City Attorney Sonsalla, City Engineer Stanley, Senior Planner Jensen, Contract Planner Fuerst and Senior Project Manager Griffin. APPROVAL OF AGENDA Councilmember Holtz, seconded by Councilmember Kragness, moved TO APPROVE THE AGENDA AS PRESENTED. Motion passed 4 – 0. PUBLIC COMMENTS / INQUIRIES Connect Lake Elmo member Tara Cadenhead and intern Kaleigh Ligday provided an update on the 4th of July Parade event and upcoming plans for the city’s celebration of the 250th anniversary of the United States. Businesses were also thanked for their continued support. ACCEPT MINUTES Councilmember Holtz, seconded by Councilmember Dragisich, moved TO ACCEPT THE MINUTES OF THE MAY 5, 2026 CITY COUNCIL MEETING AS PRESENTED. Motion passed 4 – 0. CONSENT AGENDA 1. Approved Payment of Disbursements 2. Approve Metropolitan Council Water Efficiency Grant Agreement 3. Approve Massage Therapy License Renewal 4. Approve Northport 1st, 2nd, and 3rd Addition Landscape Security Release 5. Accept Bids and Award Contract for Elmo's Pup Park Parking Lot Improvements 6. Approve Lake Elmo Baseball Special Event Permit and Temporary Liquor License 7. Approve Chama Mission, LLC-License Agreement for Entering Lions Park 8. Approve Pay Request 1 for the 2026 Street and Utility Improvements 9. Accept Quotes and Award a Contract for the 2026 Crack Seal Project 10. Approve the Local Road Improvement Program Grant Agreement Terms and Conditions for the Trunk Highway (TH) 36 and Lake Elmo Avenue (CSAH 17) Improvements Page 2 | 3 Councilmember Kragness, seconded by Councilmember Dragisich, moved TO APPROVE THE CONSENT AGENDA AS PRESENTED. Motion passed 4 - 0. REGULAR AGENDA ITEM 1: Inwood Commercial Preliminary Plat Senior Planner Jensen presented the request for preliminary plat approval for a commercial development on approximately 17 acres that would be divided into individual lots for future development. Discussion was held regarding neighbors’ concerns regarding screening. Councilmember Kragness, seconded by Councilmember Holtz, moved TO ADOPT RESOLUTION 2026- 041 APPROVING THE PRELIMINARY PLAT REQUESTED BY VADNAIS ASSOCIATES ON THE SUBJECT PROPERTY BASED ON THE FINDINGS OF FACT AND RECOMMENDED CONDITIONS OF APPROVAL LISTED IN THE STAFF REPORT. Motion passed 4 – 0. ITEM 2: Sketch Plan Review – Bridgewater Village Townhomes Contract Planner Fuerst presented a request from Pulte Homes for review of a concept plan for a PUD consisting of 82 attached townhomes on approximately 16 acres. Planner Fuerst reviewed the flexibilities requested, performance standards, utilities, roads, access and park dedication. Discussion was held regarding allowing one hundred percent attached townhomes versus the current maximum of twenty five percent. Discussion was also held regarding the exterior design elements of the buildings. ITEM 3: 2040 Comprehensive Plan Update for Community Forecasts Contract Planner Fuerst reviewed the background of the 2040 Comprehensive Plan update and discussed proposed amendments. Councilmember Holtz, seconded by Councilmember Dragisich, moved TO ADOPT RESOLUTION 2026-043 APPROVING THE AMENDMENTS PROPOSED TO THE FORECASTS FOUND IN THE LAKE ELMO 2040 COMPREHENSIVE PLAN WITH THE FINDINGS AND CONDITIONS THEREIN. Motion passed 4 – 0. ITEM 4: Approve the Revised Crosswalk Policy and 2026 Crosswalk Improvements Page 3 | 3 Municipal Sr. Project Manager Jack Griffin provided a brief review of the resident request for crosswalk improvements and noted the three intersections identified for improvement recommendations, including 5th Street and Ivywood Avenue, 5th Street and Julia Avenue, and at Village Parkway and Lower 31st Street. Chris Brown, SRF, reviewed preliminary layouts including recommendations for signage, pavement markings and pedestrian ramp improvements for ADA compliance. Enhanced treatments such as raised median extensions, curb extensions, turn lane elimination, and RRFBs were also discussed. Councilmember Holtz, seconded by Councilmember Kragness, moved TO APPROVE THE LAKE ELMO CROSSWALK POLICY -REVISED JUNE 2026. Motion passed 4 – 0. Councilmember Holtz, seconded by Councilmember Kragness, moved TO AUTHORIZE DESIGN AND CONSTRUCTION PHASE ENGINEERING SERVICES FOR THE 2026 CROSSWALK IMPROVEMENTS, INCLUDING OPTION 1 FOR VILLAGE PARKWAY AND LOWER 31ST STREET, IN THE ESTIMATED AMOUNT OF $18,000. Motion passed 4 – 0. COUNCIL REPORTS Councilmember Holtz: Reported on meeting with members of Connect Lake Elmo and city communications staff. Meeting adjourned at 8:55 p.m. LAKE ELMO CITY COUNCIL ATTEST: ______________________________ Charles Cadenhead, Mayor _______________________________ Julie Johnson, City Clerk STAFF REPORT DATE: 07/07/2026 CONSENT TO: Mayor and Councilmembers FROM: Clarissa Hadler, Finance Director, Mike Kuehn, Finance AGENDA ITEM: Payments & Disbursements CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Responsive, transparent, adaptive governance ☐Managed Growth ☐ Efficient, reliable, innovative services ☒ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: The City of Lake Elmo maintains a fiduciary responsibility to conduct normal business operations. Below is a summary of current claims scheduled for disbursement and payment in full compliance with applicable state statutes and City policies and procedures. ISSUE BEFORE COUNCIL: Should the Council approve “Payments & Disbursements”. FISCAL IMPACT: Claim # Amount Description ACH/Chks $ 201,230.86 Payroll 06/25/2026 ACH/Chks $ 16,705.67 Accounts Payable – CC Payment ACH/Chks $ 786,715.41 Accounts Payable TOTAL $ 1,004,651.94 RECOMMENDATION: (if pulled from Consent) “Motion to approve the aforementioned disbursements in the amount of $ 1,004,651.94 ATTACHMENTS: 1. Invoice DistribuƟon Report (CC Payment, 7 Pgs) 2. Invoice DistribuƟon Report (Regular AP, 24 Pgs) INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: ZORO.COM Fund: 101 GENERAL FUND Department: 5200 Parks & Recreation 101-5200-42150 PW_FLAGGING TAPE ZORO.COM PW_FLAGGING TAPE 17.88 None 101-5200-42210 PW_MATERIALS/PARTS ZORO.COM PW_MATERIALS/PARTS 44.97 None Total Department 5200 Parks & Recreation 62.85 Total Fund 101 GENERAL FUND 62.85 Fund: 601 WATER Department: 9400 WATER 601-9400-42150 PW_FLAGGING TAPE ZORO.COM PW_FLAGGING TAPE 17.88 None Total Department 9400 WATER 17.88 Total Fund 601 WATER 17.88 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-42150 PW_FLAGGING TAPE ZORO.COM PW_FLAGGING TAPE 17.88 None Total Department 9500 SURFACE WATER 17.88 Total Fund 603 STORMWATER 17.88 Total Vendor ZORO.COM:98.61 Vendor: Amazon Capital Services Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-42000 OFFICE WHITE BOARD Amazon Capital Services OFFICE WHITE BOARD 209.80 None 101-2220-42000 OFFICE WHITE BOARD SUPPLIE Amazon Capital Services OFFICE WHITE BOARD SUPPLIES 36.69 None 101-2220-42400 RESCUE BOAT ANCHOR Amazon Capital Services RESCUE BOAT ANCHOR 151.35 None 101-2220-42400 RESCUE BOAT ANCHOR PARTS Amazon Capital Services RESCUE BOAT ANCHOR PARTS 149.53 None 101-2220-44040 B2 REVERSE LIGHT REPLACEME Amazon Capital Services B2 REVERSE LIGHT REPLACEMENT 34.42 None Total Department 2220 Fire 581.79 Department: 3100 Public Works 101-3100-44375 CHAINSAW CHAPS APRON Amazon Capital Services CHAINSAW CHAPS APRON 20.01 None Total Department 3100 Public Works 20.01 Department: 5200 Parks & Recreation 101-5200-42000 PW_OFFICE SUPPLIES Amazon Capital Services PW_OFFICE SUPPLIES 4.04 None 101-5200-42150 PW_TRAILER HITCH Amazon Capital Services PW_TRAILER HITCH 12.32 None 101-5200-42150 PW_PINTLE HOOK Amazon Capital Services PW_PINTLE HOOK 263.27 None 101-5200-44040 MOWER_REPLACEMENT RIM Amazon Capital Services MOWER_REPLACEMENT TIRE 98.99 None 101-5200-44040 MOWER_REPLACEMENT TIRE Amazon Capital Services MOWER_REPLACEMENT TIRE 127.60 None 101-5200-44040 PW_TOWING MIRROR Amazon Capital Services PW_TOWING MIRROR 129.99 None 101-5200-44375 CHAINSAW CHAPS APRON Amazon Capital Services CHAINSAW CHAPS APRON 19.99 None Total Department 5200 Parks & Recreation 656.20 Total Fund 101 GENERAL FUND 1,258.00 Fund: 601 WATER Department: 9400 WATER 601-9400-42000 PW_OFFICE SUPPLIES Amazon Capital Services PW_OFFICE SUPPLIES 4.04 None 601-9400-42150 PW_TRAILER HITCH Amazon Capital Services PW_TRAILER HITCH 12.34 None 601-9400-42150 PW_PINTLE HOOK Amazon Capital Services PW_PINTLE HOOK 263.27 None Total Department 9400 WATER 279.65 07/01/2026 10:57 AM Page:1/7 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Amazon Capital Services Fund: 601 WATER Total Fund 601 WATER 279.65 Fund: 602 SEWER Department: 9450 SEWER 602-9450-42000 PW_OFFICE SUPPLIES Amazon Capital Services PW_OFFICE SUPPLIES 4.04 None Total Department 9450 SEWER 4.04 Total Fund 602 SEWER 4.04 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-42000 PW_OFFICE SUPPLIES Amazon Capital Services PW_OFFICE SUPPLIES 4.05 None 603-9500-42150 PW_TRAILER HITCH Amazon Capital Services PW_TRAILER HITCH 12.32 None 603-9500-42150 PW_PINTLE HOOK Amazon Capital Services PW_PINTLE HOOK 263.27 None 603-9500-44375 CHAINSAW CHAPS APRON Amazon Capital Services CHAINSAW CHAPS APRON 19.99 None Total Department 9500 SURFACE WATER 299.63 Total Fund 603 STORMWATER 299.63 Total Vendor Amazon Capital Services:1,841.32 Vendor: American Planning Association Fund: 101 GENERAL FUND Department: 1910 Planning & Zoning 101-1910-44330 CC PAYMENT CD INTERN POST American Planning Associat CC PAYMENT CD INTERN POST 25.00 None 101-1910-44330 APA MEMBERSHIP - AM American Planning Associat APA MEMBERSHIP - AM 398.40 None Total Department 1910 Planning & Zoning 423.40 Total Fund 101 GENERAL FUND 423.40 Total Vendor American Planning Association:423.40 Vendor: CK HOLIDAY Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-44300 MONTHY VEHICLE WASH CK HOLIDAY MONTHY VEHICLE WASH 70.41 None Total Department 2220 Fire 70.41 Total Fund 101 GENERAL FUND 70.41 Total Vendor CK HOLIDAY:70.41 Vendor: CRAGUNS RESORT Fund: 101 GENERAL FUND Department: 1520 Finance 101-1520-44370 MNGFOA CONFERENCE HOTEL CRAGUNS RESORT MNGFOA CONFERENCE HOTEL 415.53 None Total Department 1520 Finance 415.53 Total Fund 101 GENERAL FUND 415.53 Total Vendor CRAGUNS RESORT:415.53 Vendor: ELAN CC FEES & INTEREST Fund: 101 GENERAL FUND Department: 1520 Finance 101-1520-44300 CC INTEREST ELAN CC FEES & INTEREST CC INTEREST 245.17 None 07/01/2026 10:57 AM Page:2/7 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: ELAN CC FEES & INTEREST Fund: 101 GENERAL FUND Department: 1520 Finance Total Department 1520 Finance 245.17 Total Fund 101 GENERAL FUND 245.17 Total Vendor ELAN CC FEES & INTEREST:245.17 Vendor: Gerten Greenhouses Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-42270 PW MISC_OATS Gerten Greenhouses PW MISC_OATS 15.99 None Total Department 9500 SURFACE WATER 15.99 Total Fund 603 STORMWATER 15.99 Total Vendor Gerten Greenhouses:15.99 Vendor: Greater Stillwater Chamber Fund: 101 GENERAL FUND Department: 1320 Administration 101-1320-44370 LEADERSHIP IN THE VALLEY -Greater Stillwater Chamber LEADERSHIP IN THE VALLEY - 2026-2027 30.00 None 101-1320-44370 LEADERSHIP IN THE VALLEY -Greater Stillwater Chamber LEADERSHIP IN THE VALLEY - 2026-2027 1,595.00 None Total Department 1320 Administration 1,625.00 Total Fund 101 GENERAL FUND 1,625.00 Total Vendor Greater Stillwater Chamber:1,625.00 Vendor: League of MN Cities Fund: 101 GENERAL FUND Department: 1110 Mayor & Council 101-1110-44370 2026 LMC CONFERENCE REG - League of MN Cities 2026 LMC CONFERENCE REGISTRATION - NK 475.00 None Total Department 1110 Mayor & Council 475.00 Total Fund 101 GENERAL FUND 475.00 Total Vendor League of MN Cities:475.00 Vendor: LINDE GAS AND EQUIPMENT INC Fund: 101 GENERAL FUND Department: 5200 Parks & Recreation 101-5200-42150 PW OPERTAING SUPPLIES LINDE GAS AND EQUIPMENT IN PW OPERTAING SUPPLIES 54.20 None Total Department 5200 Parks & Recreation 54.20 Total Fund 101 GENERAL FUND 54.20 Fund: 601 WATER Department: 9400 WATER 601-9400-42150 PW OPERTAING SUPPLIES LINDE GAS AND EQUIPMENT IN PW OPERTAING SUPPLIES 54.19 None Total Department 9400 WATER 54.19 Total Fund 601 WATER 54.19 Fund: 602 SEWER Department: 9450 SEWER 602-9450-42150 PW OPERTAING SUPPLIES LINDE GAS AND EQUIPMENT IN PW OPERTAING SUPPLIES 54.19 None Total Department 9450 SEWER 54.19 07/01/2026 10:57 AM Page:3/7 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: LINDE GAS AND EQUIPMENT INC Fund: 602 SEWER Total Fund 602 SEWER 54.19 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-42150 PW OPERTAING SUPPLIES LINDE GAS AND EQUIPMENT IN PW OPERTAING SUPPLIES 54.19 None Total Department 9500 SURFACE WATER 54.19 Total Fund 603 STORMWATER 54.19 Total Vendor LINDE GAS AND EQUIPMENT INC:216.77 Vendor: MINUTE KEY Fund: 101 GENERAL FUND Department: 2400 Building Inspection 101-2400-42000 KEYS FOR THE PARKS BUILDIN MINUTE KEY KEYS - OLD CITY HALL - PARKS BLDG 6.53 None 101-2400-42000 KEYS FOR OLD CITY HALL MINUTE KEY KEYS - OLD CITY HALL - PARKS BLDG 13.07 None Total Department 2400 Building Inspection 19.60 Total Fund 101 GENERAL FUND 19.60 Total Vendor MINUTE KEY:19.60 Vendor: Plan It Software LLC Fund: 101 GENERAL FUND Department: 1520 Finance 101-1520-43190 PLANIT CIP SOFTWARE Plan It Software LLC PLANIT CIP SOFTWARE 4,725.00 None 101-1520-43190 PLANIT CIP SOFTWARE Plan It Software LLC PLANIT CIP SOFTWARE - WEB BOOK 1,500.00 None Total Department 1520 Finance 6,225.00 Total Fund 101 GENERAL FUND 6,225.00 Total Vendor Plan It Software LLC:6,225.00 Vendor: Regents of the University of Minnesota Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-44370 STREET SIGN TRAINING / MB Regents of the University STREET SIGN TRAINING / MIKE BELDE, LU 150.00 None Total Department 3100 Public Works 150.00 Total Fund 101 GENERAL FUND 150.00 Total Vendor Regents of the University of Minnesota:150.00 Vendor: RESTORATION AND REPAIR INC Fund: 101 GENERAL FUND Department: 5200 Parks & Recreation 101-5200-44040 PW_P3 NEW COVER AND PAD RESTORATION AND REPAIR INC PW_P3 NEW COVER AND PAD 506.13 None Total Department 5200 Parks & Recreation 506.13 Total Fund 101 GENERAL FUND 506.13 Total Vendor RESTORATION AND REPAIR INC:506.13 Vendor: SHURE - RETAIL SOLUTIONS LLC Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-45700 CC DAIS MICROPHONE SHURE - RETAIL SOLUTIONS L CC DAIS MICROPHONE 375.00 None 07/01/2026 10:57 AM Page:4/7 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: SHURE - RETAIL SOLUTIONS LLC Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General Total Department 0000 General 375.00 Total Fund 703 CITY CENTER OPERATIONS (ISF)375.00 Total Vendor SHURE - RETAIL SOLUTIONS LLC:375.00 Vendor: T&T TOOLS INC Fund: 601 WATER Department: 9400 WATER 601-9400-42150 INSULATED METAL SOIL PROBE T&T TOOLS INC INSULATED METAL SOIL PROBE 109.34 None Total Department 9400 WATER 109.34 Total Fund 601 WATER 109.34 Fund: 602 SEWER Department: 9450 SEWER 602-9450-42150 INSULATED METAL SOIL PROBE T&T TOOLS INC INSULATED METAL SOIL PROBE 109.33 None Total Department 9450 SEWER 109.33 Total Fund 602 SEWER 109.33 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-42150 INSULATED METAL SOIL PROBE T&T TOOLS INC INSULATED METAL SOIL PROBE 109.33 None Total Department 9500 SURFACE WATER 109.33 Total Fund 603 STORMWATER 109.33 Total Vendor T&T TOOLS INC:328.00 Vendor: TIRES PLUS Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-44040 TIRE REPLACEMENT_P4_ 22 FO TIRES PLUS TIRE REPLACEMENT_ P4_22 FORD RANGER X 1,348.63 None 101-3100-44040 TIRE REPLACEMENT_ W3_21 RA TIRES PLUS TIRE REPLACEMENT_ W3_21 RAM 1,053.59 None Total Department 3100 Public Works 2,402.22 Total Fund 101 GENERAL FUND 2,402.22 Total Vendor TIRES PLUS:2,402.22 Vendor: Verizon Fund: 101 GENERAL FUND Department: 1320 Administration 101-1320-43210 WIRELESS CHARGES 84206596 Verizon VERIZON - MAY 76.80 None Total Department 1320 Administration 76.80 Department: 1910 Planning & Zoning 101-1910-43210 WIRELESS CHARGES 842065966 Verizon VERIZON - MAY 38.40 None Total Department 1910 Planning & Zoning 38.40 Department: 2400 Building Inspection 101-2400-43210 WIRELESS CHARGES 842065966 Verizon VERIZON - MAY 176.84 None Total Department 2400 Building Inspection 176.84 Department: 3100 Public Works 07/01/2026 10:57 AM Page:5/7 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Verizon Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-43210 WIRELESS CHARGES 842065966 Verizon VERIZON - MAY 192.00 None Total Department 3100 Public Works 192.00 Department: 5200 Parks & Recreation 101-5200-43210 WIRELESS CHARGES 842065966 Verizon VERIZON - MAY 115.20 None Total Department 5200 Parks & Recreation 115.20 Total Fund 101 GENERAL FUND 599.24 Fund: 601 WATER Department: 9400 WATER 601-9400-43210 WIRELESS CHARGES 842065966 Verizon VERIZON - MAY 243.66 None Total Department 9400 WATER 243.66 Total Fund 601 WATER 243.66 Fund: 602 SEWER Department: 9450 SEWER 602-9450-43210 WIRELESS CHARGES 842065966 Verizon VERIZON - MAY 196.10 None Total Department 9450 SEWER 196.10 Total Fund 602 SEWER 196.10 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-43210 WIRELESS CHARGES 842065966 Verizon VERIZON - MAY 20.02 None Total Department 9500 SURFACE WATER 20.02 Total Fund 603 STORMWATER 20.02 Total Vendor Verizon:1,059.02 Vendor: Washington County - WACO Public Works Dept Fund: 101 GENERAL FUND Department: 1910 Planning & Zoning 101-1910-43220 MAILING LABELS 180 ACRES Washington County - WACO P MAILING LABELS 180 ACRES 113.50 None Total Department 1910 Planning & Zoning 113.50 Total Fund 101 GENERAL FUND 113.50 Fund: 408 STREET MAINTENANCE Department: 3100 Public Works 408-3100-43150 4TH OF JULY ROW PERMIT Washington County - WACO P 4TH OF JULY ROW PERMIT 100.00 None Total Department 3100 Public Works 100.00 Total Fund 408 STREET MAINTENANCE 100.00 Total Vendor Washington County - WACO Public Works Dept:213.50 07/01/2026 10:57 AM Page:6/7 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number --- TOTALS BY FUND --- 101 GENERAL FUND 14,645.25 408 STREET MAINTENANCE 100.00 601 WATER 704.72 602 SEWER 363.66 603 STORMWATER 517.04 703 CITY CENTER OPERATIONS (ISF)375.00 Total For All Funds:16,705.67 07/01/2026 10:57 AM Page:7/7 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Advanced Graphix Inc Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-44300 LOCKER NAMEPLATE Advanced Graphix Inc LOCKER NAMEPLATE 7.50 None Total Department 2220 Fire 7.50 Total Fund 101 GENERAL FUND 7.50 Total Vendor Advanced Graphix Inc:7.50 Vendor: Aid Electric Corporation Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-44010 EXHAUST FAN RELAYS Aid Electric Corporation EXHAUST FAN RELAYS 487.48 None Total Department 2220 Fire 487.48 Total Fund 101 GENERAL FUND 487.48 Total Vendor Aid Electric Corporation:487.48 Vendor: Amazon Capital Services Fund: 101 GENERAL FUND Department: 1320 Administration 101-1320-42002 NETWORK CABLE Amazon Capital Services NETWORK CABLE 16.68 None Total Department 1320 Administration 16.68 Total Fund 101 GENERAL FUND 16.68 Fund: 602 SEWER Department: 9450 SEWER 602-9450-42210 LIFT STATION CABINET AIR F Amazon Capital Services LIFT STATION FILTERS 87.98 None Total Department 9450 SEWER 87.98 Total Fund 602 SEWER 87.98 Total Vendor Amazon Capital Services:104.66 Vendor: American Test Center Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-44040 ANNUAL AERIAL INSPECTION L American Test Center ANNUAL AERIAL INSPECTION L1 726.00 None Total Department 2220 Fire 726.00 Total Fund 101 GENERAL FUND 726.00 Total Vendor American Test Center:726.00 Vendor: ANCOM Communications Fund: 407 FIRE EQUIPMENT & PROJECT Department: 2220 Fire 407-2220-43230 ENGINE 1 - HEADSETS AND IN ANCOM Communications ENGINE 1 - HEADSETS AND INSTALL 4,986.95 None Total Department 2220 Fire 4,986.95 Total Fund 407 FIRE EQUIPMENT & PROJECT 4,986.95 Total Vendor ANCOM Communications:4,986.95 Vendor: AT HOME APTS Fund: 803 ESCROW FUND 07/02/2026 12:34 PM Page:1/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: AT HOME APTS Fund: 803 ESCROW FUND Department: 0000 General 803-0000-22910 ESCROW RELEASE - AT HOME A AT HOME APTS ESCROW RELEASE - AT HOME APTS - POND 6,986.00 None Total Department 0000 General 6,986.00 Total Fund 803 ESCROW FUND 6,986.00 Total Vendor AT HOME APTS:6,986.00 Vendor: AutoZone Inc Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-44040 PW -TRUCK P1 AutoZone Inc PW -TRUCK P1 14.24 None 101-3100-44040 PW -TRUCK P1 AutoZone Inc PW -TRUCK P1 34.91 None Total Department 3100 Public Works 49.15 Total Fund 101 GENERAL FUND 49.15 Total Vendor AutoZone Inc:49.15 Vendor: Bound Tree Medical LLC Fund: 407 FIRE EQUIPMENT & PROJECT Department: 2220 Fire 407-2220-42080 AIRWAY MANAGEMENT TRAINER Bound Tree Medical LLC AIRWAY MANAGEMENT TRAINER 2,119.99 None Total Department 2220 Fire 2,119.99 Total Fund 407 FIRE EQUIPMENT & PROJECT 2,119.99 Total Vendor Bound Tree Medical LLC:2,119.99 Vendor: Braun Intertec Corporation Fund: 451 2026 STREET & UTILITY IMPROVEMENTS Department: 8138 2026 STREET & UTILITY IMPROVEMENTS 451-8138-43030-8138 2026 STREET IMPROVEMENTS 2 Braun Intertec Corporation 2026 STREET IMPROVEMENTS 25X.139309 4,747.50 None Total Department 8138 2026 STREET & UTILITY IMPROVEMENTS 4,747.50 Total Fund 451 2026 STREET & UTILITY IMPROVEMENTS 4,747.50 Fund: 601 WATER Department: 8126 SOUTH AREA PROD WELLS/TREATMT 601-8126-43150-8126 SOUTH PFAS WTP/WELLS 24X.1 Braun Intertec Corporation SOUTH PFAS WTP/WELLS 24X.137233 4,834.50 None Total Department 8126 SOUTH AREA PROD WELLS/TREATMT 4,834.50 Total Fund 601 WATER 4,834.50 Total Vendor Braun Intertec Corporation:9,582.00 Vendor: BS&A Software LLC Fund: 601 WATER Department: 9400 WATER 601-9400-44377 CREDIT CARD FEES - MAY BS&A Software LLC CREDIT CARD FEES - MAY 2,642.68 None Total Department 9400 WATER 2,642.68 Total Fund 601 WATER 2,642.68 Fund: 602 SEWER Department: 9450 SEWER 602-9450-44377 CREDIT CARD FEES - MAY BS&A Software LLC CREDIT CARD FEES - MAY 2,490.24 None 07/02/2026 12:34 PM Page:2/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: BS&A Software LLC Fund: 602 SEWER Department: 9450 SEWER Total Department 9450 SEWER 2,490.24 Total Fund 602 SEWER 2,490.24 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-44377 CREDIT CARD FEES - MAY BS&A Software LLC CREDIT CARD FEES - MAY 1,106.35 None Total Department 9500 SURFACE WATER 1,106.35 Total Fund 603 STORMWATER 1,106.35 Total Vendor BS&A Software LLC:6,239.27 Vendor: Catalyst Graphics Inc Fund: 601 WATER Department: 9400 WATER 601-9400-42000 Irrigation Door Hangers Catalyst Graphics Inc Irrigation Door Hangers 323.00 None Total Department 9400 WATER 323.00 Total Fund 601 WATER 323.00 Total Vendor Catalyst Graphics Inc:323.00 Vendor: Century Power Equipment Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-44040 MAINTENANCE/PARTS_ MOWER Century Power Equipment MAINTENANCE/PARTS_ MOWER 32.03 None 101-3100-44040 MAINTENANCE/PARTS_ MOWER_A Century Power Equipment MAINTENANCE/PARTS_ MOWER_ANTI SCALP R 32.66 None 101-3100-44040 MAINTENANCE/PARTS_ MOWER_A Century Power Equipment RETURN - MAINT/PARTS_ MOWER_ANTI SCAL (32.66)None 101-3100-44040 MAINTENANCE/PARTS_NOTCHED Century Power Equipment MAINTENANCE/PARTS_NOTCHED BLADE 89.97 None Total Department 3100 Public Works 122.00 Department: 5200 Parks & Recreation 101-5200-44040 MAINTENANCE/PARTS_ MOWER Century Power Equipment MAINTENANCE/PARTS_ MOWER 32.03 None 101-5200-44040 MAINTENANCE/PARTS_ MOWER_A Century Power Equipment MAINTENANCE/PARTS_ MOWER_ANTI SCALP R 32.66 None 101-5200-44040 MAINTENANCE/PARTS_ MOWER_A Century Power Equipment RETURN - MAINT/PARTS_ MOWER_ANTI SCAL (32.66)None Total Department 5200 Parks & Recreation 32.03 Total Fund 101 GENERAL FUND 154.03 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-44040 MAINTENANCE/PARTS_ MOWER Century Power Equipment MAINTENANCE/PARTS_ MOWER 32.04 None 603-9500-44040 MAINTENANCE/PARTS_ MOWER_A Century Power Equipment MAINTENANCE/PARTS_ MOWER_ANTI SCALP R 32.66 None 603-9500-44040 MAINTENANCE/PARTS_ MOWER_A Century Power Equipment RETURN - MAINT/PARTS_ MOWER_ANTI SCAL (32.66)None Total Department 9500 SURFACE WATER 32.04 Total Fund 603 STORMWATER 32.04 Total Vendor Century Power Equipment:186.07 Vendor: Cintas Corp Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-42150 RUGS/SOAP/RAGS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 41.11 None 07/02/2026 12:34 PM Page:3/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Cintas Corp Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-42150 RUGS/SOAP/RAGS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 70.84 None 101-3100-42150 RUGS/SOAP/RAGS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 163.42 None 101-3100-44170 PW - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 173.77 None 101-3100-44170 PW - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 94.24 None 101-3100-44170 PW - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 141.55 None Total Department 3100 Public Works 684.93 Department: 5200 Parks & Recreation 101-5200-44170 PARK & REC - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 40.10 None 101-5200-44170 PARK & REC - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 21.75 None 101-5200-44170 PARK & REC - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 32.67 None Total Department 5200 Parks & Recreation 94.52 Total Fund 101 GENERAL FUND 779.45 Fund: 601 WATER Department: 9400 WATER 601-9400-44170 WATER - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 32.08 None 601-9400-44170 WATER - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 17.40 None 601-9400-44170 WATER - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 26.13 None Total Department 9400 WATER 75.61 Total Fund 601 WATER 75.61 Fund: 602 SEWER Department: 9450 SEWER 602-9450-44170 SEWER - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 13.37 None 602-9450-44170 SEWER - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 7.25 None 602-9450-44170 SEWER - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 10.89 None Total Department 9450 SEWER 31.51 Total Fund 602 SEWER 31.51 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-44170 SURFACE WATER - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 8.02 None 603-9500-44170 SURFACE WATER - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 4.35 None 603-9500-44170 SURFACE WATER - UNIFORMS Cintas Corp CLEANING, MAINT & SUPPLIES - PW 6.53 None Total Department 9500 SURFACE WATER 18.90 Total Fund 603 STORMWATER 18.90 Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-42110 JANITORIAL SUPPLIES Cintas Corp JANITORIAL / RUGS 269.16 None 703-0000-42110 JANITORIAL SUPPLIES Cintas Corp JANITORIAL / RUGS 268.21 None 703-0000-44011 RUGS Cintas Corp JANITORIAL / RUGS 159.70 None 703-0000-44011 RUGS Cintas Corp JANITORIAL / RUGS 159.70 None Total Department 0000 General 856.77 Total Fund 703 CITY CENTER OPERATIONS (ISF)856.77 Total Vendor Cintas Corp:1,762.24 07/02/2026 12:34 PM Page:4/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: City of Bloomington - Civic Plaza Fund: 601 WATER Department: 9400 WATER 601-9400-43150 WATER SAMPLE TESTING City of Bloomington - Civi WATER SAMPLE TESTING 140.00 None Total Department 9400 WATER 140.00 Total Fund 601 WATER 140.00 Total Vendor City of Bloomington - Civic Plaza:140.00 Vendor: CleanRiver Recycling Solutions Fund: 101 GENERAL FUND Department: 1320 Administration 101-1320-42600 PARK GARBAGE/RECYCLE CAN U CleanRiver Recycling Solut CLE009 - PARK GARBAGE/RECYCLE CAN UPD 9,630.00 None Total Department 1320 Administration 9,630.00 Total Fund 101 GENERAL FUND 9,630.00 Total Vendor CleanRiver Recycling Solutions:9,630.00 Vendor: Comcast Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-43210 INTERNET - ACCT # 98105250 Comcast COMCAST MONTHLY_JUNE 26_ PW INTERNET 110.80 None Total Department 3100 Public Works 110.80 Department: 5200 Parks & Recreation 101-5200-43210 INTERNET - ACCT # 98105250 Comcast COMCAST MONTHLY_JUNE 26_ PW INTERNET 110.79 None Total Department 5200 Parks & Recreation 110.79 Total Fund 101 GENERAL FUND 221.59 Fund: 601 WATER Department: 9400 WATER 601-9400-43210 INTERNET - ACCT # 98105250 Comcast COMCAST MONTHLY_JUNE 26_ PW INTERNET 110.79 None Total Department 9400 WATER 110.79 Total Fund 601 WATER 110.79 Fund: 602 SEWER Department: 9450 SEWER 602-9450-43210 INTERNET - ACCT # 98105250 Comcast COMCAST MONTHLY_JUNE 26_ PW INTERNET 110.79 None Total Department 9450 SEWER 110.79 Total Fund 602 SEWER 110.79 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-43210 INTERNET - ACCT # 98105250 Comcast COMCAST MONTHLY_JUNE 26_ PW INTERNET 110.79 None Total Department 9500 SURFACE WATER 110.79 Total Fund 603 STORMWATER 110.79 Total Vendor Comcast:553.96 Vendor: CONCRETE LIFTING INC Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-44010 CITY CENTER-CONCRETE REPAI CONCRETE LIFTING INC CITY CENTER-CONCRETE REPAIR 1,650.00 None 07/02/2026 12:34 PM Page:5/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: CONCRETE LIFTING INC Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General Total Department 0000 General 1,650.00 Total Fund 703 CITY CENTER OPERATIONS (ISF)1,650.00 Total Vendor CONCRETE LIFTING INC:1,650.00 Vendor: Coordinated Business Systems Fund: 101 GENERAL FUND Department: 2400 Building Inspection 101-2400-44040 HP DESIGNJET T2600 MAINT T Coordinated Business Syste HP DESIGNJET T2600 MAINT THRU 06/19/2 2,889.66 None Total Department 2400 Building Inspection 2,889.66 Total Fund 101 GENERAL FUND 2,889.66 Total Vendor Coordinated Business Systems:2,889.66 Vendor: CORE & MAIN LP Fund: 601 WATER Department: 9400 WATER 601-9400-42150 OPERATING SUPPLIES - HACH CORE & MAIN LP OPERATING SUPPLIES - HACH SPADNS 2 259.17 None Total Department 9400 WATER 259.17 Total Fund 601 WATER 259.17 Total Vendor CORE & MAIN LP:259.17 Vendor: DAVID LESSARD Fund: 601 WATER Department: 0000 General 601-0000-11500 OVERPAYMENT DAVID LESSARD UB REFUND FOR ACCOUNT: 04-00000243-00 75.00 None Total Department 0000 General 75.00 Total Fund 601 WATER 75.00 Total Vendor DAVID LESSARD:75.00 Vendor: Eckberg Lammers Fund: 101 GENERAL FUND Department: 2150 Prosecution 101-2150-43045 MONTHLY PRO SVCS PROS Eckberg Lammers MONTHLY PROSECUTION SERVICES -JUN 4,415.25 None Total Department 2150 Prosecution 4,415.25 Total Fund 101 GENERAL FUND 4,415.25 Total Vendor Eckberg Lammers:4,415.25 Vendor: Electric Pump Inc Fund: 602 SEWER Department: 9450 SEWER 602-9450-43150 Sanitary Lift Station Annu Electric Pump Inc Sanitary Lift Station Annual Maint 2,500.00 None Total Department 9450 SEWER 2,500.00 Total Fund 602 SEWER 2,500.00 Total Vendor Electric Pump Inc:2,500.00 07/02/2026 12:34 PM Page:6/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Electro Watchman Inc Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-44040 ANNUAL FIRE ALARM MONITORI Electro Watchman Inc ANNUAL FIRE ALARM MONITORING 659.40 None Total Department 0000 General 659.40 Total Fund 703 CITY CENTER OPERATIONS (ISF)659.40 Total Vendor Electro Watchman Inc:659.40 Vendor: Emergency Apparatus Maint Inc Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-44040 LADDER1 ANNUAL MAINTENANCE Emergency Apparatus Maint LADDER1 ANNUAL MAINTENANCE & PUMP TES 4,386.71 None 101-2220-44040 BRUSH 1 ANNUAL MAINTENANCE Emergency Apparatus Maint BRUSH 1 ANNUAL MAINTENANCE & PUMP TES 844.10 None 101-2220-44040 RESCUE 1 ANNUAL MAINTENANC Emergency Apparatus Maint RESCUE 1 ANNUAL MAINTENANCE & PUMP TE 2,355.62 None 101-2220-44040 ENGINE1 1 ANNUAL MAINTENAN Emergency Apparatus Maint ENGINE1 1 ANNUAL MAINTENANCE & PUMP T 2,114.46 None 101-2220-44040 TANKER 2 ANNUAL MAINTENANC Emergency Apparatus Maint TANKER 2 ANNUAL MAINTENANCE & PUMP TE 2,407.00 None 101-2220-44040 TENDER 1 ANNUAL MAINTENANC Emergency Apparatus Maint TENDER 1 ANNUAL MAINTENANCE & PUMP TE 1,828.78 None Total Department 2220 Fire 13,936.67 Total Fund 101 GENERAL FUND 13,936.67 Total Vendor Emergency Apparatus Maint Inc:13,936.67 Vendor: Ferguson Waterworks #2518 Fund: 601 WATER Department: 9400 WATER 601-9400-42300 WATER METER SUPPLIES/FLANG Ferguson Waterworks #2518 WATER METER SUPPLIES 1,327.20 None Total Department 9400 WATER 1,327.20 Department: 9401 WELL 2 TREATMENT O&M 601-9401-42210 WATER_REPAIR MAINTENANCE S Ferguson Waterworks #2518 WATER_REPAIR MAINTENANCE SUPPLIES 646.28 None Total Department 9401 WELL 2 TREATMENT O&M 646.28 Total Fund 601 WATER 1,973.48 Total Vendor Ferguson Waterworks #2518:1,973.48 Vendor: Festival Production Services Fund: 101 GENERAL FUND Department: 1110 Mayor & Council 101-1110-44300 MOBILE STAGE 2026 CITY STR Festival Production Servic MOBILE STAGE 2026 CITY STREET DANCE 3,605.00 None Total Department 1110 Mayor & Council 3,605.00 Total Fund 101 GENERAL FUND 3,605.00 Total Vendor Festival Production Services:3,605.00 Vendor: Fire Catt LLC Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-44040 ANNUAL HOSE TESTING DAY 1 Fire Catt LLC ANNUAL HOSE TESTING DAY 1 1,441.00 None 101-2220-44040 ANNUAL HOSE TESTING DAY 2 Fire Catt LLC ANNUAL HOSE TESTING DAY 2 3,377.00 None Total Department 2220 Fire 4,818.00 Total Fund 101 GENERAL FUND 4,818.00 07/02/2026 12:34 PM Page:7/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Fire Catt LLC Total Vendor Fire Catt LLC:4,818.00 Vendor: Fire Equipment Specialties Fund: 410 VEHICLE REPLACEMENT Department: 2220 Fire 410-2220-45500-8144 T2 REPLACEMENT EQUIPMENT Fire Equipment Specialties T2 REPLACEMENT EQUIPMENT 298.00 None Total Department 2220 Fire 298.00 Total Fund 410 VEHICLE REPLACEMENT 298.00 Total Vendor Fire Equipment Specialties:298.00 Vendor: First State Tire Recycling Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-44300 TIRE DISPOSAL First State Tire Recycling TIRE DISPOSAL 110.68 None Total Department 9500 SURFACE WATER 110.68 Total Fund 603 STORMWATER 110.68 Total Vendor First State Tire Recycling:110.68 Vendor: FOREVER FABRICATION Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-44040 T2 LADDER RACK REPAIR FOREVER FABRICATION T2 LADDER RACK REPAIR 300.00 None Total Department 2220 Fire 300.00 Total Fund 101 GENERAL FUND 300.00 Fund: 410 VEHICLE REPLACEMENT Department: 2220 Fire 410-2220-45500 UTV 1 REPLACEMENT - TRAILE FOREVER FABRICATION UTV 1 TRAILER RAMP REINFORCEMENT 710.00 None Total Department 2220 Fire 710.00 Total Fund 410 VEHICLE REPLACEMENT 710.00 Total Vendor FOREVER FABRICATION:1,010.00 Vendor: GreatAmerica Financial Services Fund: 101 GENERAL FUND Department: 1320 Administration 101-1320-44040 Monthly Copier-Adm-020-184 GreatAmerica Financial Ser MONTHLY COPIER INVOICE - 020-1863070-272.86 None Total Department 1320 Administration 272.86 Department: 1520 Finance 101-1520-44040 MONTHLY COPIER-FINA-020-18 GreatAmerica Financial Ser MONTHLY COPIER INVOICE - 020-1863070-272.85 None Total Department 1520 Finance 272.85 Department: 1910 Planning & Zoning 101-1910-44040 MONTHLY COPIER-PLNG-020-18 GreatAmerica Financial Ser MONTHLY COPIER INVOICE - 020-1863070-285.06 None Total Department 1910 Planning & Zoning 285.06 Department: 2400 Building Inspection 101-2400-44040 MONTHLY COPIER-BLDG-020-18 GreatAmerica Financial Ser MONTHLY COPIER INVOICE - 020-1863070-285.03 None Total Department 2400 Building Inspection 285.03 Total Fund 101 GENERAL FUND 1,115.80 07/02/2026 12:34 PM Page:8/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: GreatAmerica Financial Services Total Vendor GreatAmerica Financial Services:1,115.80 Vendor: Hailies Cleaning Svcs LLC Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-44011 CITY HALL MONTHLY CLEANING Hailies Cleaning Svcs LLC MONTHLY CLEANING SERVICES-JUN 1,980.00 None Total Department 0000 General 1,980.00 Total Fund 703 CITY CENTER OPERATIONS (ISF)1,980.00 Total Vendor Hailies Cleaning Svcs LLC:1,980.00 Vendor: Hawkins Inc Fund: 601 WATER Department: 9400 WATER 601-9400-42160 WELL CHEMICALS Hawkins Inc WELL CHEMICALS 100.00 None 601-9400-42160 WELL CHEMICALS Hawkins Inc WELL CHEMICALS 40.00 None 601-9400-42160 WELL CHEMICALS Hawkins Inc WELL CHEMICALS 3,411.97 None Total Department 9400 WATER 3,551.97 Total Fund 601 WATER 3,551.97 Total Vendor Hawkins Inc:3,551.97 Vendor: Hoisington Koegler Group Inc Fund: 101 GENERAL FUND Department: 1910 Planning & Zoning 101-1910-43150 GENERAL Hoisington Koegler Group I 1,922.50 None Total Department 1910 Planning & Zoning 1,922.50 Total Fund 101 GENERAL FUND 1,922.50 Fund: 209 TREE FUND Department: 3250 Tree Program 209-3250-43150 BLVD TREES Hoisington Koegler Group I 1,019.00 None Total Department 3250 Tree Program 1,019.00 Total Fund 209 TREE FUND 1,019.00 Fund: 803 ESCROW FUND Department: 9001 E001 - 39TH ST-PRAIRIE SKY 803-9001-43150 PRAIRIE SKY Hoisington Koegler Group I 116.25 None Total Department 9001 E001 - 39TH ST-PRAIRIE SKY 116.25 Department: 9011 E011 - BRIDGEWATER VILLAGE (FKA NORTHSHO 803-9011-43150 BV Hoisington Koegler Group I 2,239.48 None 803-9011-43150 BANK SITE Hoisington Koegler Group I 333.75 None Total Department 9011 E011 - BRIDGEWATER VILLAGE (FKA NORTHSHO 2,573.23 Department: 9017 E017 - ENTERPRISE 803-9017-43150 ENT Hoisington Koegler Group I 21.25 None Total Department 9017 E017 - ENTERPRISE 21.25 Department: 9021 E021 - INWOOD 9TH 803-9021-43150 INWOOD COMM Hoisington Koegler Group I 387.50 None Total Department 9021 E021 - INWOOD 9TH 387.50 07/02/2026 12:34 PM Page:9/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Hoisington Koegler Group Inc Fund: 803 ESCROW FUND Department: 9023 E023 - LAKE ELMO ELEMENTARY 803-9023-43150 LE ELEM Hoisington Koegler Group I 360.45 None 803-9023-43150 LE ELEM Hoisington Koegler Group I 116.25 None Total Department 9023 E023 - LAKE ELMO ELEMENTARY 476.70 Department: 9026 E026 - LAKEWOOD CROSSING - STARBUCKS 803-9026-43150 STARBUCKS Hoisington Koegler Group I 648.73 None Total Department 9026 E026 - LAKEWOOD CROSSING - STARBUCKS 648.73 Department: 9028 E028 - LEGACY AT NORTHSTAR 2ND 803-9028-43150 L NS 2 Hoisington Koegler Group I 57.50 None Total Department 9028 E028 - LEGACY AT NORTHSTAR 2ND 57.50 Department: 9029 E029 - LEGACY AT NORTHSTAR 3RD 803-9029-43150 L NS 3 Hoisington Koegler Group I 57.50 None Total Department 9029 E029 - LEGACY AT NORTHSTAR 3RD 57.50 Department: 9032 E032 - LIL EXPLORERS DAYCARE (39TH ST) - 803-9032-43150 MILESTONE DAYCARE Hoisington Koegler Group I 21.25 None Total Department 9032 E032 - LIL EXPLORERS DAYCARE (39TH ST) -21.25 Department: 9033 E033 - LIMERICK VILLAGE 803-9033-43150 LV Hoisington Koegler Group I 348.75 None Total Department 9033 E033 - LIMERICK VILLAGE 348.75 Department: 9035 E035 - NORTHPORT 1ST 803-9035-43150 NP 1 Hoisington Koegler Group I 210.00 None Total Department 9035 E035 - NORTHPORT 1ST 210.00 Department: 9036 E036 - NORTHPORT 2ND 803-9036-43150 NP 2 Hoisington Koegler Group I 153.35 None Total Department 9036 E036 - NORTHPORT 2ND 153.35 Department: 9037 E037 - NORTHPORT 3RD 803-9037-43150 NP3 Hoisington Koegler Group I 90.00 None Total Department 9037 E037 - NORTHPORT 3RD 90.00 Department: 9043 E043 - ROYAL GOLF 3RD 803-9043-43150 RG3 Hoisington Koegler Group I 768.47 None Total Department 9043 E043 - ROYAL GOLF 3RD 768.47 Department: 9045 E045 - ROYAL GOLF 5TH - LIFT STATION 803-9045-43150 RG5 Hoisington Koegler Group I 38.75 None Total Department 9045 E045 - ROYAL GOLF 5TH - LIFT STATION 38.75 Department: 9046 E046 - ROYAL GOLF 6TH 803-9046-43150 RG6 Hoisington Koegler Group I 93.75 None Total Department 9046 E046 - ROYAL GOLF 6TH 93.75 Department: 9055 E055 - UNION PARK 2ND 803-9055-43150 UP E 2 Hoisington Koegler Group I 353.88 None Total Department 9055 E055 - UNION PARK 2ND 353.88 Department: 9058 E058 - WILDFLOWER 3RD 803-9058-43150 WF 3 Hoisington Koegler Group I 606.43 None 07/02/2026 12:34 PM Page:10/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Hoisington Koegler Group Inc Fund: 803 ESCROW FUND Department: 9058 E058 - WILDFLOWER 3RD Total Department 9058 E058 - WILDFLOWER 3RD 606.43 Department: 9060 E060 803-9060-43150 DQ Hoisington Koegler Group I 2,201.61 None Total Department 9060 E060 2,201.61 Department: 9061 E061 803-9061-43150 NS 3 Hoisington Koegler Group I 285.38 None Total Department 9061 E061 285.38 Department: 9066 E066 803-9066-43150 BW TH Hoisington Koegler Group I 116.25 None Total Department 9066 E066 116.25 Total Fund 803 ESCROW FUND 9,626.53 Total Vendor Hoisington Koegler Group Inc:12,568.03 Vendor: Innovative Office Solutions LLC Fund: 101 GENERAL FUND Department: 1320 Administration 101-1320-42000 COPY PAPER, FRAME Innovative Office Solution COPY PAPER, FRAME 58.08 None Total Department 1320 Administration 58.08 Department: 1910 Planning & Zoning 101-1910-42000 COPY PAPER Innovative Office Solution COPY PAPER, FRAME 45.99 None Total Department 1910 Planning & Zoning 45.99 Total Fund 101 GENERAL FUND 104.07 Total Vendor Innovative Office Solutions LLC:104.07 Vendor: IUOE Local 49 Fringe Benefit Fund Fund: 101 GENERAL FUND Department: 0000 General 101-0000-21713 LOCAL 49 MONTHLY HEALTH IN IUOE Local 49 Fringe Benef LOCAL 49 MONTHLY HEALTH INS PREM-AUG 16,750.00 None 101-0000-21713 LUKE SWELLAND JULY PREM IUOE Local 49 Fringe Benef LOCAL 49 MONTHLY HEALTH INS PREM-AUG 1,675.00 None Total Department 0000 General 18,425.00 Total Fund 101 GENERAL FUND 18,425.00 Total Vendor IUOE Local 49 Fringe Benefit Fund:18,425.00 Vendor: JIM & MICHELLE BOHLIG Fund: 601 WATER Department: 0000 General 601-0000-11500 OVERPAYMENT JIM & MICHELLE BOHLIG UB REFUND FOR ACCOUNT: 01-00024311-01 11.68 None Total Department 0000 General 11.68 Total Fund 601 WATER 11.68 Total Vendor JIM & MICHELLE BOHLIG:11.68 Vendor: K&S Engraving LLC Fund: 101 GENERAL FUND Department: 2220 Fire 07/02/2026 12:34 PM Page:11/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: K&S Engraving LLC Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-42400 UPDATED ENGINE PASSPORTS K&S Engraving LLC UPDATED ENGINE PASSPORTS 33.50 None Total Department 2220 Fire 33.50 Total Fund 101 GENERAL FUND 33.50 Total Vendor K&S Engraving LLC:33.50 Vendor: Kath Fuel Oil Service Co Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-42120 FIRE - OFF ROAD Kath Fuel Oil Service Co OFF ROAD 600.57 None Total Department 2220 Fire 600.57 Department: 2400 Building Inspection 101-2400-42120 BUILDING - UNLEADED FUEL Kath Fuel Oil Service Co UNLEADED FUEL 82.80 None Total Department 2400 Building Inspection 82.80 Department: 3100 Public Works 101-3100-42120 STREET - OFF ROAD Kath Fuel Oil Service Co OFF ROAD 415.82 None 101-3100-42120 STREET - ON ROAD Kath Fuel Oil Service Co ON ROAD 148.95 None 101-3100-42120 STREET - UNLEADED FUEL Kath Fuel Oil Service Co UNLEADED FUEL 564.90 None Total Department 3100 Public Works 1,129.67 Department: 5200 Parks & Recreation 101-5200-42120 PARKS - OFF ROAD Kath Fuel Oil Service Co OFF ROAD 155.93 None 101-5200-42120 PARKS- ON ROAD Kath Fuel Oil Service Co ON ROAD 55.86 None 101-5200-42120 PARKS - UNLEADED FUEL Kath Fuel Oil Service Co UNLEADED FUEL 211.84 None Total Department 5200 Parks & Recreation 423.63 Total Fund 101 GENERAL FUND 2,236.67 Fund: 601 WATER Department: 9400 WATER 601-9400-42120 WATER - OFF ROAD Kath Fuel Oil Service Co OFF ROAD 207.91 None 601-9400-42120 WATER - ON ROAD Kath Fuel Oil Service Co ON ROAD 74.47 None 601-9400-42120 WATER - UNLEADED FUEL Kath Fuel Oil Service Co UNLEADED FUEL 282.45 None Total Department 9400 WATER 564.83 Total Fund 601 WATER 564.83 Fund: 602 SEWER Department: 9450 SEWER 602-9450-42120 SEWER - OFF ROAD Kath Fuel Oil Service Co OFF ROAD 207.91 None 602-9450-42120 SEWER - ON ROAD Kath Fuel Oil Service Co ON ROAD 74.47 None 602-9450-42120 SEWER - UNLEADED FUEL Kath Fuel Oil Service Co UNLEADED FUEL 282.45 None Total Department 9450 SEWER 564.83 Total Fund 602 SEWER 564.83 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-42120 STORMWATER - OFF ROAD Kath Fuel Oil Service Co OFF ROAD 51.99 None 603-9500-42120 STORMWATER - ON ROAD Kath Fuel Oil Service Co ON ROAD 18.62 None 603-9500-42120 STORMWATER - UNLEADED FUEL Kath Fuel Oil Service Co UNLEADED FUEL 70.61 None 07/02/2026 12:34 PM Page:12/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Kath Fuel Oil Service Co Fund: 603 STORMWATER Department: 9500 SURFACE WATER Total Department 9500 SURFACE WATER 141.22 Total Fund 603 STORMWATER 141.22 Total Vendor Kath Fuel Oil Service Co:3,507.55 Vendor: Kodiak Power Solutions Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-43150 DIAGNOSTICS_OIL LEAK Kodiak Power Solutions DIAGNOSTICS_OIL LEAK 212.50 None Total Department 3100 Public Works 212.50 Total Fund 101 GENERAL FUND 212.50 Fund: 602 SEWER Department: 9450 SEWER 602-9450-43150 ROYAL NORTH LS GENERATOR R Kodiak Power Solutions ROYAL NORTH LS GENERATOR REPAIRS 501.36 None Total Department 9450 SEWER 501.36 Total Fund 602 SEWER 501.36 Total Vendor Kodiak Power Solutions:713.86 Vendor: Lake Elmo Repair Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-44040 PW _W4_F20 REPAIR/MAINT Lake Elmo Repair PW _W4_F20 REPAIR/MAINT 288.90 None Total Department 3100 Public Works 288.90 Total Fund 101 GENERAL FUND 288.90 Total Vendor Lake Elmo Repair:288.90 Vendor: LARKIN HOFFMAN PUBLIC AFFAIRS, INC. Fund: 101 GENERAL FUND Department: 1320 Administration 101-1320-43150 LEGISLATIVE REPRESENTATION LARKIN HOFFMAN PUBLIC AFFA LEGISLATIVE REPRESENTATION THROUGH MA 5,000.00 None Total Department 1320 Administration 5,000.00 Total Fund 101 GENERAL FUND 5,000.00 Total Vendor LARKIN HOFFMAN PUBLIC AFFAIRS, INC.:5,000.00 Vendor: LEE, JOHN DONALD Fund: 101 GENERAL FUND Department: 1110 Mayor & Council 101-1110-44300 BAND 2026 CITY CELEBRATION LEE, JOHN DONALD BAND FOR CITY CELEBRATION 2026 2,400.00 None Total Department 1110 Mayor & Council 2,400.00 Total Fund 101 GENERAL FUND 2,400.00 Total Vendor LEE, JOHN DONALD:2,400.00 Vendor: LRS Portables LLC Fund: 101 GENERAL FUND Department: 5200 Parks & Recreation 07/02/2026 12:34 PM Page:13/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: LRS Portables LLC Fund: 101 GENERAL FUND Department: 5200 Parks & Recreation 101-5200-44120 PARKS PORTABLE RENTALS LRS Portables LLC PARKS PORTABLE RENTALS 1,425.00 None Total Department 5200 Parks & Recreation 1,425.00 Total Fund 101 GENERAL FUND 1,425.00 Total Vendor LRS Portables LLC:1,425.00 Vendor: MAINSTREET DESIGNS INC Fund: 101 GENERAL FUND Department: 1110 Mayor & Council 101-1110-44300 PATRIOTIC BANNERS AND BRAC MAINSTREET DESIGNS INC PATRIOTIC BANNERS AND BRACKETS FOR LE 3,265.00 None Total Department 1110 Mayor & Council 3,265.00 Total Fund 101 GENERAL FUND 3,265.00 Total Vendor MAINSTREET DESIGNS INC:3,265.00 Vendor: Martin Marietta Materials Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-42240 POTHOLE MIX Martin Marietta Materials POTHOLE MIX 300.12 None 101-3100-42240 POTHOLE MIX Martin Marietta Materials POTHOLE MIX 336.60 None 101-3100-42240 POTHOLE MIX Martin Marietta Materials POTHOLE MIX 92.91 None 101-3100-42240 POTHOLE MIX Martin Marietta Materials POTHOLE MIX 347.19 None 101-3100-42240 POTHOLE MIX Martin Marietta Materials POTHOLE MIX 234.72 None 101-3100-42240 POTHOLE MIX Martin Marietta Materials POTHOLE MIX 90.47 None 101-3100-42240 POTHOLE MIX Martin Marietta Materials POTHOLE MIX 335.78 None Total Department 3100 Public Works 1,737.79 Total Fund 101 GENERAL FUND 1,737.79 Total Vendor Martin Marietta Materials:1,737.79 Vendor: Menards - Oakdale Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-42150 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 19.99 None 101-3100-42400 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 13.30 None Total Department 3100 Public Works 33.29 Department: 5200 Parks & Recreation 101-5200-42150 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 37.97 None 101-5200-42210 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 181.44 None 101-5200-42210 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 74.97 None 101-5200-42400 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 13.29 None 101-5200-44030 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 100.00 None 101-5200-44040 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 11.99 None Total Department 5200 Parks & Recreation 419.66 Total Fund 101 GENERAL FUND 452.95 Fund: 601 WATER Department: 9400 WATER 601-9400-42210 MATERIALS/SUPPLIES_IRRIGAT Menards - Oakdale MATERIALS/SUPPLIES_IRRIGATION ON 5TH 58.61 None 07/02/2026 12:34 PM Page:14/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Menards - Oakdale Fund: 601 WATER Department: 9400 WATER 601-9400-42400 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 13.29 None Total Department 9400 WATER 71.90 Total Fund 601 WATER 71.90 Fund: 602 SEWER Department: 9450 SEWER 602-9450-42400 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 13.30 None Total Department 9450 SEWER 13.30 Total Fund 602 SEWER 13.30 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-42150 MATERIALS/SUPPLIES Menards - Oakdale MATERIALS/SUPPLIES 19.99 None 603-9500-42400 MATERIALS_MORTAR MIX Menards - Oakdale MATERIALS_PUTTY KNIFE 5.99 None Total Department 9500 SURFACE WATER 25.98 Total Fund 603 STORMWATER 25.98 Total Vendor Menards - Oakdale:564.13 Vendor: MINNESOTA RECREATION & PARK ASSOC Fund: 101 GENERAL FUND Department: 5200 Parks & Recreation 101-5200-44370 CERT PLAYGROUND SAFETY INS MINNESOTA RECREATION & PAR CERT PLAYGROUND SAFETY INSPECTOR COUR 1,740.00 None Total Department 5200 Parks & Recreation 1,740.00 Total Fund 101 GENERAL FUND 1,740.00 Total Vendor MINNESOTA RECREATION & PARK ASSOC:1,740.00 Vendor: MIRIAM BERGMARK Fund: 601 WATER Department: 0000 General 601-0000-11500 OVERPAYMENT MIRIAM BERGMARK UB refund for account: 01-00031181-00 100.00 None Total Department 0000 General 100.00 Total Fund 601 WATER 100.00 Total Vendor MIRIAM BERGMARK:100.00 Vendor: MN Dept of Labor & Industry Fund: 101 GENERAL FUND Department: 0000 General 101-0000-20801 Q2 STATE SURCHARGE MN Dept of Labor & Industr QUARTERLY STATE SURCHARGE - BUILDING 7,732.31 None Total Department 0000 General 7,732.31 Total Fund 101 GENERAL FUND 7,732.31 Total Vendor MN Dept of Labor & Industry:7,732.31 Vendor: MN Fire Service Cert Board Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-44370 AERIAL APPRATUS OPERATOR E MN Fire Service Cert Board AERIAL APPRATUS OPERATOR EXAM FEE IA,951.00 None 07/02/2026 12:34 PM Page:15/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: MN Fire Service Cert Board Fund: 101 GENERAL FUND Department: 2220 Fire Total Department 2220 Fire 951.00 Total Fund 101 GENERAL FUND 951.00 Total Vendor MN Fire Service Cert Board:951.00 Vendor: MUTUAL OF OMAHA Fund: 101 GENERAL FUND Department: 0000 General 101-0000-21707 DENTAL INSURANCE PREM - JU MUTUAL OF OMAHA G000CVSQ BILL GROUP 0001 & MNPL 801A 2,451.50 None 101-0000-21708 STD/LTD INSURANCE PREM - J MUTUAL OF OMAHA G000CVSQ BILL GROUP 0001 & MNPL 801A 958.03 None 101-0000-21708 LIFE/AD&D INSUR PREM - JUL MUTUAL OF OMAHA G000CVSQ BILL GROUP 0001 & MNPL 801A 1,015.40 None 101-0000-21718 VISION INSURANCE PREM - JU MUTUAL OF OMAHA G000CVSQ BILL GROUP 0001 & MNPL 801A 130.44 None Total Department 0000 General 4,555.37 Total Fund 101 GENERAL FUND 4,555.37 Total Vendor MUTUAL OF OMAHA:4,555.37 Vendor: Northland Bond Services Fund: 323 2014A GO BONDS Department: 7000 Debt Service 323-7000-46110 2014A GO Bond Interest Northland Bond Services 2014A GO Bond Interest 10,037.50 None Total Department 7000 Debt Service 10,037.50 Total Fund 323 2014A GO BONDS 10,037.50 Fund: 326 2016A GO BONDS Department: 7000 Debt Service 326-7000-46110 2016A GO Bond Interest Northland Bond Services 2016A GO BOND INTEREST 1,200.00 None 326-7000-46110 2016A GO BOND INTEREST Northland Bond Services 2016A GO BOND INTEREST 1,700.00 None Total Department 7000 Debt Service 2,900.00 Total Fund 326 2016A GO BONDS 2,900.00 Fund: 327 2017A GO BONDS Department: 7000 Debt Service 327-7000-46110 2017A GO BOND INTEREST Northland Bond Services 2017A GO BOND INTEREST 11,812.50 None 327-7000-46110 2017A GO Bond Interest Northland Bond Services 2017A GO BOND INTEREST 437.50 None Total Department 7000 Debt Service 12,250.00 Total Fund 327 2017A GO BONDS 12,250.00 Fund: 601 WATER Department: 9400 WATER 601-9400-46110 2014A GO Bond Interest Northland Bond Services 2014A GO Bond Interest 12,172.00 None 601-9400-46110 2017A GO Bond Interest Northland Bond Services 2017A GO BOND INTEREST 11,600.00 None 601-9400-46110 2016A GO BOND INTEREST Northland Bond Services 2016A GO BOND INTEREST 14,050.00 None 601-9400-46110 2015A GO Bond Interest Northland Bond Services 2015A GO BOND INTEREST 5,175.00 None Total Department 9400 WATER 42,997.00 Total Fund 601 WATER 42,997.00 Fund: 602 SEWER Department: 9450 SEWER 07/02/2026 12:34 PM Page:16/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Northland Bond Services Fund: 602 SEWER Department: 9450 SEWER 602-9450-46110 2014A GO Bond Interest Northland Bond Services 2014A GO Bond Interest 3,953.00 None 602-9450-46110 2017A GO Bond Interest Northland Bond Services 2017A GO BOND INTEREST 18,993.75 None 602-9450-46110 2016A GO BOND INTEREST Northland Bond Services 2016A GO BOND INTEREST 3,750.00 None 602-9450-46110 2015A GO BOND INTEREST Northland Bond Services 2015A GO BOND INTEREST 1,500.00 None Total Department 9450 SEWER 28,196.75 Total Fund 602 SEWER 28,196.75 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-46110 2017A GO Bond Interest Northland Bond Services 2017A GO BOND INTEREST 1,037.50 None 603-9500-46110 2016A GO BOND INTEREST Northland Bond Services 2016A GO BOND INTEREST 12,050.00 None Total Department 9500 SURFACE WATER 13,087.50 Total Fund 603 STORMWATER 13,087.50 Total Vendor Northland Bond Services:109,468.75 Vendor: Nuss Truck & Equipment Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-44040 EQUIPEMENT REPAIR Nuss Truck & Equipment EQUIPEMENT REPAIR 42.19 None 101-3100-44041 MAC TRUCK REPAIRS Nuss Truck & Equipment MAC TRUCK REPAIRS 2,418.69 None Total Department 3100 Public Works 2,460.88 Department: 5200 Parks & Recreation 101-5200-44040 EQUIPEMENT REPAIR Nuss Truck & Equipment EQUIPEMENT REPAIR 42.19 None Total Department 5200 Parks & Recreation 42.19 Total Fund 101 GENERAL FUND 2,503.07 Total Vendor Nuss Truck & Equipment:2,503.07 Vendor: Performance Plus LLC Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-43050 ANNUAL MEDICAL PHYSICALS Performance Plus LLC ANNUAL MEDICAL PHYSICALS 11,711.00 None 101-2220-43050 NEW HIRE PHYSICAL - KP Performance Plus LLC NEW HIRE PHYSICAL - KP 479.00 None Total Department 2220 Fire 12,190.00 Total Fund 101 GENERAL FUND 12,190.00 Total Vendor Performance Plus LLC:12,190.00 Vendor: PIONEER LANDSCAPING LLC Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-43150 STREETS - MOWING SERVICE PIONEER LANDSCAPING LLC MOWING SERVICE 1,846.06 None Total Department 3100 Public Works 1,846.06 Department: 5200 Parks & Recreation 101-5200-43150 PARKS - MOWING SERVICE PIONEER LANDSCAPING LLC MOWING SERVICE 4,446.86 None Total Department 5200 Parks & Recreation 4,446.86 Total Fund 101 GENERAL FUND 6,292.92 07/02/2026 12:34 PM Page:17/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: PIONEER LANDSCAPING LLC Fund: 601 WATER Department: 9400 WATER 601-9400-43150 WATER - MOWING SERVICE PIONEER LANDSCAPING LLC MOWING SERVICE 466.38 None Total Department 9400 WATER 466.38 Total Fund 601 WATER 466.38 Fund: 602 SEWER Department: 9450 SEWER 602-9450-43150 SEWER - MOWING SERVICE PIONEER LANDSCAPING LLC MOWING SERVICE 187.30 None Total Department 9450 SEWER 187.30 Total Fund 602 SEWER 187.30 Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-44013 CITY HALL - MOWING SERVICE PIONEER LANDSCAPING LLC MOWING SERVICE 122.38 None Total Department 0000 General 122.38 Total Fund 703 CITY CENTER OPERATIONS (ISF)122.38 Total Vendor PIONEER LANDSCAPING LLC:7,068.98 Vendor: PollardWater Fund: 601 WATER Department: 9400 WATER 601-9400-42210 4" GAUGE 160 PSI & HYETT S PollardWater 4" GAUGE 160 PSI AND HYETT SEAL SIL @ 955.69 None Total Department 9400 WATER 955.69 Total Fund 601 WATER 955.69 Total Vendor PollardWater:955.69 Vendor: Pomp's Tire Service Inc Fund: 407 FIRE EQUIPMENT & PROJECT Department: 2220 Fire 407-2220-44040 RESCUE 1 TIRE REPLACEMENT Pomp's Tire Service Inc RESCUE 1 TIRE REPLACEMENT 5,909.56 None Total Department 2220 Fire 5,909.56 Total Fund 407 FIRE EQUIPMENT & PROJECT 5,909.56 Total Vendor Pomp's Tire Service Inc:5,909.56 Vendor: PreCise MRM LLC Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-43190 PRECISE FLEET MGMT SOFTWAR PreCise MRM LLC PRECISE FLEET MGMT SOFTWARE 220.00 None Total Department 3100 Public Works 220.00 Total Fund 101 GENERAL FUND 220.00 Total Vendor PreCise MRM LLC:220.00 Vendor: Robert Thomas Homes Fund: 803 ESCROW FUND Department: 0000 General 803-0000-22900 ESCROW RELEASE - 10950 37T Robert Thomas Homes ESCROW RELEASE - 10950 37TH ST N - 20 10,000.00 None 803-0000-22900 ESCROW RELEASE - 10931 37T Robert Thomas Homes ESCROW RELEASE - 10931 37TH ST N - 20 10,000.00 None 07/02/2026 12:34 PM Page:18/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Robert Thomas Homes Fund: 803 ESCROW FUND Department: 0000 General 803-0000-22900 ESCROW RELEASE - 10973 37T Robert Thomas Homes ESCROW RELEASE - 10973 37TH ST N - 20 10,000.00 None Total Department 0000 General 30,000.00 Total Fund 803 ESCROW FUND 30,000.00 Total Vendor Robert Thomas Homes:30,000.00 Vendor: Safebuilt LLC Fund: 101 GENERAL FUND Department: 2400 Building Inspection 101-2400-43150 INSPECTOR CONTRACT SERVICE Safebuilt LLC JUNE INVOICE 26 - BLDG INSPECTION SVC 812.50 None Total Department 2400 Building Inspection 812.50 Total Fund 101 GENERAL FUND 812.50 Total Vendor Safebuilt LLC:812.50 Vendor: SALSBURY INDUSTRIES Fund: 407 FIRE EQUIPMENT & PROJECT Department: 2220 Fire 407-2220-42400 CAPTAINS DORM LOCKERS SALSBURY INDUSTRIES CAPTAINS DORM LOCKERS 2,800.98 None Total Department 2220 Fire 2,800.98 Total Fund 407 FIRE EQUIPMENT & PROJECT 2,800.98 Total Vendor SALSBURY INDUSTRIES:2,800.98 Vendor: Schindler Elevator Corporation Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-44040 ANNUAL ELEVATOR MAINTENANC Schindler Elevator Corpora ANNUAL ELEVATOR MAINTENANCE AND SERVI 3,287.02 None Total Department 0000 General 3,287.02 Total Fund 703 CITY CENTER OPERATIONS (ISF)3,287.02 Total Vendor Schindler Elevator Corporation:3,287.02 Vendor: Schlenner Wenner & Co Fund: 101 GENERAL FUND Department: 1520 Finance 101-1520-43010 2025 AUDIT & YEAR END ASSI Schlenner Wenner & Co 2025 AUDIT & YEAR END ASSISTANCE 5,000.00 None Total Department 1520 Finance 5,000.00 Total Fund 101 GENERAL FUND 5,000.00 Fund: 601 WATER Department: 9400 WATER 601-9400-43010 2025 AUDIT & YEAR END ASSI Schlenner Wenner & Co 2025 AUDIT & YEAR END ASSISTANCE 5,000.00 None Total Department 9400 WATER 5,000.00 Total Fund 601 WATER 5,000.00 Fund: 602 SEWER Department: 9450 SEWER 602-9450-43010 2025 AUDIT & YEAR END ASSI Schlenner Wenner & Co 2025 AUDIT & YEAR END ASSISTANCE 5,000.00 None 07/02/2026 12:34 PM Page:19/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Schlenner Wenner & Co Fund: 602 SEWER Department: 9450 SEWER Total Department 9450 SEWER 5,000.00 Total Fund 602 SEWER 5,000.00 Fund: 603 STORMWATER Department: 9500 SURFACE WATER 603-9500-43010 2025 AUDIT & YEAR END ASSI Schlenner Wenner & Co 2025 AUDIT & YEAR END ASSISTANCE 5,000.00 None Total Department 9500 SURFACE WATER 5,000.00 Total Fund 603 STORMWATER 5,000.00 Total Vendor Schlenner Wenner & Co:20,000.00 Vendor: Schwickert's Tecta America Fund: 602 SEWER Department: 9450 SEWER 602-9450-43150 LISBON LIFT STATION AIR CI Schwickert's Tecta America LISBON LIFT STATION AIR CIRCULATION P 830.00 None Total Department 9450 SEWER 830.00 Total Fund 602 SEWER 830.00 Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-44040 CITY HALL _ AIR CONDITIONE Schwickert's Tecta America CITY HALL _ AIR CONDITIONER REPAIR 1,480.00 None 703-0000-44040 CITY HALL _ AIR CONDITIONE Schwickert's Tecta America CITY HALL _ AIR CONDITIONER MAINT 4,673.00 None 703-0000-44040 CITY HALL _ CO-NO2 SENSOR Schwickert's Tecta America CITY HALL _ CO-NO2 SENSOR TESTING 230.00 None Total Department 0000 General 6,383.00 Total Fund 703 CITY CENTER OPERATIONS (ISF)6,383.00 Total Vendor Schwickert's Tecta America:7,213.00 Vendor: Shred Right Fund: 101 GENERAL FUND Department: 1320 Administration 101-1320-43150 Monthly Shredding Services Shred Right SHREDDING SERVICES 54.45 None Total Department 1320 Administration 54.45 Total Fund 101 GENERAL FUND 54.45 Total Vendor Shred Right:54.45 Vendor: Stantec Consulting Services Inc Fund: 101 GENERAL FUND Department: 8142 SALE OF OLD FIRE HALL 101-8142-43150-8142 ENVIRONMENTAL TESTING Stantec Consulting Service OLD FIRE HALL - SOIL TESTING 3,218.51 None Total Department 8142 SALE OF OLD FIRE HALL 3,218.51 Total Fund 101 GENERAL FUND 3,218.51 Fund: 601 WATER Department: 8126 SOUTH AREA PROD WELLS/TREATMT 601-8126-43150-8126 SOUTH AREA PROD WELLS/TREA Stantec Consulting Service SOUTH AREA PROD WELLS/TREATMT SVCS 212.00 None Total Department 8126 SOUTH AREA PROD WELLS/TREATMT 212.00 Department: 8141 TEST WELL 6/ SOUTH TREATMENT -NONREIMBUR 07/02/2026 12:34 PM Page:20/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Stantec Consulting Services Inc Fund: 601 WATER Department: 8141 TEST WELL 6/ SOUTH TREATMENT -NONREIMBUR 601-8141-43030-8141 TEST WELL 6 ENGINEERING Stantec Consulting Service SOUTH AREA PROD WELLS/TREATMT SVCS 5,619.38 None Total Department 8141 TEST WELL 6/ SOUTH TREATMENT -NONREIMBUR 5,619.38 Total Fund 601 WATER 5,831.38 Total Vendor Stantec Consulting Services Inc:9,049.89 Vendor: T-Mobile Fund: 101 GENERAL FUND Department: 2220 Fire 101-2220-43210 CAD DATA / CELL T-Mobile CAD DATA / CELL 390.12 None Total Department 2220 Fire 390.12 Total Fund 101 GENERAL FUND 390.12 Total Vendor T-Mobile:390.12 Vendor: Traut Companies Fund: 601 WATER Department: 8141 TEST WELL 6/ SOUTH TREATMENT -NONREIMBUR 601-8141-43150-8141 SOUTH PFAS WTP & WELLS-TES Traut Companies SOUTH PFAS WTP & WELLS-TEST WELL 6 138,141.40 None Total Department 8141 TEST WELL 6/ SOUTH TREATMENT -NONREIMBUR 138,141.40 Total Fund 601 WATER 138,141.40 Total Vendor Traut Companies:138,141.40 Vendor: Tri State Bobcat Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-44040 E5 SKID STEER HYDRAULIC RE Tri State Bobcat E5 SKID STEER HYDRAULIC REPAIR 497.74 None 101-3100-44130 RENTAL Tri State Bobcat RENTAL 488.75 None Total Department 3100 Public Works 986.49 Total Fund 101 GENERAL FUND 986.49 Total Vendor Tri State Bobcat:986.49 Vendor: Twin Town Plumbing Fund: 601 WATER Department: 8140 CSAH 14 (17-LAYTON) WATERMAIN IMPROVE 601-8140-44300-8140 WATER MAIN WORK Twin Town Plumbing WATER MAIN WORK 1,441.00 None Total Department 8140 CSAH 14 (17-LAYTON) WATERMAIN IMPROVE 1,441.00 Total Fund 601 WATER 1,441.00 Total Vendor Twin Town Plumbing:1,441.00 Vendor: Uline Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-45700 IT STORAGE SHELVING AND BI Uline IT STORAGE SHELVING AND BINS 474.58 None Total Department 0000 General 474.58 Total Fund 703 CITY CENTER OPERATIONS (ISF)474.58 07/02/2026 12:34 PM Page:21/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Uline Total Vendor Uline:474.58 Vendor: USS Minnesota One MT LLC Fund: 601 WATER Department: 9400 WATER 601-9400-43810 US SOLAR SUNSCRPTN-MNTHLY USS Minnesota One MT LLC USSOLR - MONTHLY - MAY STMT 1,954.78 None Total Department 9400 WATER 1,954.78 Total Fund 601 WATER 1,954.78 Total Vendor USS Minnesota One MT LLC:1,954.78 Vendor: Washington County - WACO Public Works Dept Fund: 440 TH36-LAKE ELMO AVE IMPROVEMENT Department: 8112 TH36-Lake Elmo Ave Improvement 440-8112-45900-8112 TH36-CSAH 17 LAKE ELMO AVE Washington County - WACO P TH36-CSAH 17 LAKE ELMO AVE IMP #18223 243,400.00 None Total Department 8112 TH36-Lake Elmo Ave Improvement 243,400.00 Total Fund 440 TH36-LAKE ELMO AVE IMPROVEMENT 243,400.00 Fund: 601 WATER Department: 9400 WATER 601-9400-43150 CSAH 13 FINAL BILLING - IN Washington County - WACO P CSAH 13 FINAL BILLING - INV 236215 - 2,742.71 None Total Department 9400 WATER 2,742.71 Total Fund 601 WATER 2,742.71 Total Vendor Washington County - WACO Public Works Dept:246,142.71 Vendor: Washington County Prop Records/Taxpayer Svcs Fund: 101 GENERAL FUND Department: 1520 Finance 101-1520-44300 99.099.99.00.0792 Washington County Prop Rec 2026 PROPERTY TAXES - DAVID SEE LEASE 3,552.12 None 101-1520-44300 99.099.99.00.0795 Washington County Prop Rec 2026 PROPERTY TAXES - DAVID SEE LEASE 4,055.40 None Total Department 1520 Finance 7,607.52 Total Fund 101 GENERAL FUND 7,607.52 Fund: 601 WATER Department: 9400 WATER 601-9400-44300 99.099.99.00.0796 Washington County Prop Rec 2026 PROPERTY TAXES - DAVID SEE LEASE 11,409.12 None Total Department 9400 WATER 11,409.12 Total Fund 601 WATER 11,409.12 Total Vendor Washington County Prop Records/Taxpayer Svcs:19,016.64 Vendor: White Bear Locksmith Fund: 601 WATER Department: 9400 WATER 601-9400-43150 LOCK REPAIR - SERVICE WATE White Bear Locksmith LOCK REPAIR - SERVICE WATER TOWER #4 157.00 None Total Department 9400 WATER 157.00 Total Fund 601 WATER 157.00 Total Vendor White Bear Locksmith:157.00 Vendor: Xcel Energy 07/02/2026 12:34 PM Page:22/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number Vendor: Xcel Energy Fund: 101 GENERAL FUND Department: 3100 Public Works 101-3100-43811 3014 JAMLEY AVE N - STREET Xcel Energy 51-4572945-7 32.31 None 101-3100-43811 51-0012718950-5 - 179 KEAT Xcel Energy 51-0012718950-5 83.24 None 101-3100-43811 51-0013811065-2 - 689 INWO Xcel Energy 51-0013811065-2 57.33 None Total Department 3100 Public Works 172.88 Total Fund 101 GENERAL FUND 172.88 Fund: 601 WATER Department: 9400 WATER 601-9400-43810 51-0013315481-4 - 4525 LIL Xcel Energy 51-0013315481-4 5,629.29 None 601-9400-43810 51-0014032224-4 - Wat Towe Xcel Energy 51-0014032224-4 281.80 None 601-9400-43810 51-0014032232-4 - 3418 LA Xcel Energy 51-0014032232-4 18.60 None 601-9400-43810 2576 INWOOD BOOSTER STATIO Xcel Energy 51-0011431737-7 2,591.79 None Total Department 9400 WATER 8,521.48 Total Fund 601 WATER 8,521.48 Fund: 602 SEWER Department: 9450 SEWER 602-9450-43810 9956 TAPESTRY RD LIFT STAT Xcel Energy 51-0014133900-7 135.19 None 602-9450-43810 10845 32ND ST LIFT STATION Xcel Energy 51-0013680215-5 214.32 None Total Department 9450 SEWER 349.51 Total Fund 602 SEWER 349.51 Fund: 703 CITY CENTER OPERATIONS (ISF) Department: 0000 General 703-0000-43810 ELEC UTIL 3880 LAVERNE AVE Xcel Energy 51-0013935424-9 3,577.39 None Total Department 0000 General 3,577.39 Total Fund 703 CITY CENTER OPERATIONS (ISF)3,577.39 Total Vendor Xcel Energy:12,621.26 07/02/2026 12:34 PM Page:23/24 INVOICE DISTRIBUTION REPORT BY VENDOR FOR THE CITY OF LAKE ELMO GL Number Invoice Line Desc Vendor Name Invoice Description Amount Check Number --- TOTALS BY FUND --- 101 GENERAL FUND 135,083.28 209 TREE FUND 1,019.00 323 2014A GO BONDS 10,037.50 326 2016A GO BONDS 2,900.00 327 2017A GO BONDS 12,250.00 407 FIRE EQUIPMENT & PROJECT 15,817.48 410 VEHICLE REPLACEMENT 1,008.00 440 TH36-LAKE ELMO AVE IMPROVEMENT 243,400.00 451 2026 STREET & UTILITY IMPROVEMENTS 4,747.50 601 WATER 234,352.55 602 SEWER 40,863.57 603 STORMWATER 19,633.46 703 CITY CENTER OPERATIONS (ISF)18,990.54 803 ESCROW FUND 46,612.53 Total For All Funds:786,715.41 07/02/2026 12:34 PM Page:24/24 STAFF REPORT DATE: July 7, 2026 CONSENT TO: Mayor and Councilmembers FROM: City Clerk Julie Johnson AGENDA ITEM: Appoint 2026 Election Judges CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☒ Responsive, transparent, adaptive governance ☐Managed Growth ☐ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: Pursuant to Section 204B.21 of the Minnesota Election Laws,election judges shall be appointed by the municipality.The appointments shall be made at least 25 days before the election at which the judges will serve. The election judges are required to receive compensation equal to at least the prevailing Minnesota minimum wage for each hour spent carrying out duties at the polling place and attending training. ISSUE BEFORE COUNCIL: Should the Council approve the recommended list of judges? PROPOSAL DETAILS/ANALYSIS: Staff is requesting the individuals listed on the attached Election Judges List be appointed to serve as election judges for the August 11,2026 Primary Election and November 3,2026 General and City Election at the hourly rate of $14.00 for election judges and $15.00 for head election judges. The attached list of Election Judges is not conclusive and may be amended as needed by the City Clerk up to 25 days prior to the Primary and General elections. FISCAL IMPACT: Election judge wages have been included in the 2026 budget. OPTIONS: Approve the list as presented, or amend and approve the list. RECOMMENDATION: (if pulled from Consent) “Motion to adopt Resolution 2026-050 Appointing 2026 Election Judges” ATTACHMENTS: Resolution 2026-050 Election list CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION NO. 2026-050 A RESOLUTION APPOINTING ELECTION JUDGES FOR THE 2026 PRIMARY AND GENERAL ELECTION WHEREAS, pursuant to Section 2014B.21 of the Minnesota Election Laws, Election judges shall be appointed by the municipality; and WHEREAS, the appointments shall be made at least 25 days before the election at which the judges will serve; and WHEREAS, election judges and election judge trainees shall receive at least the prevailing Minnesota minimum wage for each hour spent carrying out duties at the polling place and attending training. WHEREAS, the City of Lake Elmo is dependent upon and appreciative of citizen assistance for its election process and, WHEREAS, the Lake Elmo 2026 Primary and General Election Judge appointments consist of individuals recommended by the City Clerk with the approval by majority of the City Council and, WHEREAS, the list of Election Judges may be amended by the City Clerk as needed up to 25 days prior to the Primary or General Election. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lake Elmo that the individuals listed on the attached Election Judges List are appointed to serve as election judges for the August 11, 2026 Primary Election and the November 3, 2026 General and City Election at the hourly rate of $14.00 for election judges and $15.00 for head election judges. ADOPTED BY THE CITY COUNCIL OF THE CITY OF LAKE ELMO THIS 7th DAY OF JULY, 2026. ATTEST: By: Charles Cadenhead, Mayor Julie Johnson, City Clerk (SEAL) Linda Wagner Mark D Hartmann Dan Pommerenke Judy Sell Kim Learn Elmer Kasperson Jamie Campbell Michael Burress Jan Kiefner Hazel Vetterick Becky Fremont James Altier Janice Roth Barb Duerr Ken Gildner Michelle East Barb Diederichs Pat Lovelette John Krueger Shane Zako Barb Diederichs Mark Sandstrom Ella Menendez Annette Kasperson Barbara Williams Dan Beck Diane Hinz Shannon McMahon Bob Callahan Sally Altier Marilyn JoAnn Ward David Lilja Charles Dennis Neil Contardi Joseph Ward Mark Wiederich 202 6 Election Judges STAFF REPORT DATE: July 7, 2026 CONSENT TO: Mayor and Councilmembers FROM: Dustin Kalis, Fire Chief and Jennifer Doyle, Administrative Services Director AGENDA ITEM: Full Time Firefighter Hire CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Responsive, transparent, adaptive governance ☐Managed Growth ☒ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: One of our Full-Time Firefighters was promoted to Captain, vacating a full-time Firefighter position. ISSUE BEFORE COUNCIL: Should the council approve the hire of Andrew Lilly as a full-time Firefighter. PROPOSAL DETAILS/ANALYSIS: Interviews to fill the FT Firefighter position took place on June 22nd-23rd. The interview panel consisted of the Fire Chief, Assistant Fire Chief, Administrative Assistant PW/Fire and the Administrative Services Director and six applicants were interviewed. After careful consideration, the recommendation of the panel is to hire Andrew Lilly who has served as a Paid-On-Call Firefighter with Lake Elmo since 2023 at a Grade 5, Step 2 and vacation accrual at 2+ years of government service. FISCAL IMPACT: N/A- The position is in the 2026 budget. OPTIONS: Approve the hire of Andrew Lilly to full-time Firefighter. Do not approve the hire of Andrew Lilly to full-time Firefighter. RECOMMENDATION: (if pulled from Consent) “Motion to approve hiring Andrew Lilly to the full-time Firefighter position at Grade 5, Step 2 and vacation accrual rate of 2+ years of service.” ATTACHMENTS: None. STAFF REPORT DATE: July 7, 2026 CONSENT TO: Mayor and Councilmembers FROM: Dustin Kalis, Fire Chief AGENDA ITEM: Donation to the Fire Department from DQ CORE STRATEGIES: ☒ Vibrant, inclusive, connected community ☒ Responsive, transparent, adaptive governance ☐Managed Growth ☐ Efficient, reliable, innovative services ☒ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: State statute requires that cities accept donations via resolution. ISSUE BEFORE COUNCIL: Should Council accept the donation of $491.00? PROPOSAL DETAILS/ANALYSIS: BKT Operations (DQ Grill & Chill, Lake Elmo) presented the City with a donation of $491.00 for the Lake Elmo Fire Department from proceeds from a fundraiser on June 3, 2026. Included in your packet for acceptance as part of the Consent Agenda is a resolution for the Council to officially accept the donation. FISCAL IMPACT: There is no impact to the 2026 budget as these funds were not anticipated. OPTIONS: 1)Approve Resolution 2)Amend and then Approve Resolution 3)Do not accept the donation RECOMMENDATION: (if pulled from Consent) Motion to approve Resolution 2026-045 ATTACHMENTS: •Resolution 2026-045 CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION NO. 2026-045 A RESOLUTION ACCEPTING DONATED FUNDS FROM BKT OPERATIONS (DQ GRILL & CHILL, LAKE ELMO) WHEREAS, Minnesota Statues Section 465.03 provides that donations to the City be accepted by resolution of the City Council; and WHEREAS, BKT Operations (DQ Grill & Chill, Lake Elmo) had proposed contributing $491.00 to the Lake Elmo Fire Department from proceeds from a fundraiser; and WHEREAS, the City Council of the City of Lake Elmo agrees that said contribution would be of benefit to the citizens of Lake Elmo; and NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Lake Elmo, Minnesota, does hereby acknowledges and agrees to accept said donation of $491.00 from BKT Operations (DQ Grill & Chill, Lake Elmo) on behalf of the citizens of Lake Elmo. APPROVED by the Lake Elmo City Council on this 7th day of July, 2026. By: __________________________ Charles Cadenhead Mayor ATTEST: ________________________________ City Clerk STAFF REPORT DATE: July 7, 2026 REGULAR TO: Mayor and Councilmembers FROM: Nathan Fuerst, Consulting Planner REVIEWED BY: Jason Stopa, Community Development Director Sarah Sonsalla, City Attorney AGENDA ITEM: Lake Elmo Elementary Development Agreement – First Amendment CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☒ Responsive, transparent, adaptive governance ☐ Managed Growth ☒ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: Since final approvals of the Lake Elmo Elementary project in February of 2025, the Stillwater School District has been working towards their goal of having the school project completed in time for the 2026-2027 school year. Construction has progressed on site and the school district now feels confident that they will have the school building and site improvements largely completed by the end of July. As such, the school district is hoping to allow staff to enter and begin use of the facility in late July or early August to prepare for the start of school. The City’s standard form of Development Agreement does not permit any certificates of occupancy (including temporary) until the Subdivision Improvements (as defined in the agreement, which include most of the physical site improvements) are completed and accepted by the City. City staff expect that while the school building will be complete and site improvements will be satisfactorily completed for occupancy, the City may not be in a position to consider the Subdivision Improvements complete and may therefore be unable to allow occupancy of the building on the School District’s preferred timeline. The Stillwater School District has therefore requested an amendment to the Development Agreement to allow for the City to issue a temporary certificate of occupancy while site improvements and punch list items are wrapped up. ISSUE BEFORE COUNCIL: Should the City amend the Development Agreement for the Lake Elmo Elementary site to allow a temporary certificate of occupancy to be granted? PROPOSAL DETAILS/ANALYSIS: The City and School teams have resumed regular coordination meetings to discuss building and site improvement progress. At this time, City staff are confident that the site improvements will be generally complete, but do feel that items such as final landscaping acceptance and punch list items like as built submittal could go into late summer and early fall before a Certificate of Occupancy could be granted under the Development Agreement as presently written. The School District construction team has generally been proactive on scheduling building and fire inspections. School District staff have also communicated they understand that all safety inspections, such as for building and fire codes, must be conducted and relevant final inspections passed before a temporary occupancy could be issued. Proposed Amendment: Section 22.C of the 10th and Lake Elmo School Addition Development Agreement would be modified to allow for a temporary certificate of occupancy to be issued by the City of Lake Elmo provided satisfactory progress has been made on the Subdivision Improvements. FISCAL IMPACT: There are no anticipated costs to the City for this request at this time. OPTIONS: Approve or deny the proposed amendment. RECOMMENDATION: City Staff recommend approval of the proposed amendment to the 10th and Lake Elmo School Addition Development Agreement. Approval is recommended on the consent agenda or through the following example motion: “Move to adopt Resolution 2026-046 approving the first amendment to the Development Agreement for the 10th and Lake Elmo Addition project with the findings and conditions therein.” ATTACHMENTS: 1. Letter request from Stillwater Area Schools 2. Resolution 2026-046 3. First Amendment to 10th and Lake Elmo School Addition Development Agreement 4. Development Agreement – 10th and Lake Elmo School Addition CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION NO. 2026-046 A RESOLUTION APPROVING THE FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT FOR 10TH AND LAKE ELMO SCHOOL ADDITION WHEREAS, the City of Lake Elmo is a municipal corporation organized and existing under the laws of the State of Minnesota; and WHEREAS, Stillwater Area Schools, Independent School District 834, (the “Applicant”) has previously submitted an application to the City of Lake Elmo (the “City”) for a final plat for 10th and Lake Elmo School Addition; and WHEREAS, the Lake Elmo City Council adopted Resolution No 2025-015 on February 4th 2025 approving the final plat for 10th and Lake Elmo School Addition; and WHEREAS, the Lake Elmo City Council adopted Resolution No 2025-031 on March 18th 2025 approving the Development Agreement for 10th and Lake Elmo School Addition; and WHEREAS, the Applicant and the City have agreed to amend the Development Agreement for 10th and Lake Elmo School Addition a first time in order to allow a temporary certificate of occupancy to be issued by the City prior to City approval and acceptance of the Subdivision Improvements as described in the staff report to City Council dated July 7, 2026; and NOW, THEREFORE, based on the information received, the City Council of the City of Lake Elmo does hereby approve the First Amendment to Development Agreement for 10th and Lake Elmo School Addition, authorize the City Attorney to draft the First Amendment to the Development Agreement to include provisions to allow issuance of a temporary certificate of occupancy prior to City approval and acceptance of the Subdivision Improvements as proposed in the staff report dated July 7, 2026, and authorize the Mayor and City Clerk to execute the First Amendment to Development Agreement. Passed and duly adopted this ____ day of _________2026 by the City Council of the City of Lake Elmo, Minnesota. __________________________________ Charles Cadenhead, Mayor ATTEST: ________________________________ Julie Johnson, City Clerk 1 LA515\147\1102601.v1 FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (10TH AND LAKE ELMO SCHOOL ADDITION) THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (this “First Amendment”) is entered into this ___ day of _____________, 2026, by Independent School District No. 834, Stillwater Area Public Schools, a Minnesota body corporate and politic (the “Developer”) and the City of Lake Elmo, a Minnesota municipal corporation (the “City”). R E C I T A L S WHEREAS, the City and the Developer entered into that certain Development Agreement on March 18, 2025, recorded as Document No. ________ (the “Agreement”), relating to the development of Lake Elmo Elementary School, the property of which is legally described on the attached Exhibit A; and WHEREAS, the Developer has requested that the Agreement be amended to allow for the issuance of a temporary certificate of occupancy for the start of school operations, including full access to the building and site by the Developer’s staff and students prior to completion and City acceptance of all Subdivision Improvements; and WHEREAS, the City and the Developer desire to amend the Agreement to include provisions to allow a temporary certificate of occupancy to be issued prior to completion and City acceptance of all Subdivision Improvements; and NOW, THEREFORE, in consideration of the foregoing and the covenants and obligations contained in this Amendment and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed by and between the City and the Developer as follows: 1. Section 22 of the Development Agreement shall be deleted in its entirety and be amended to read as follows: 22. BUILDING PERMITS/CERTIFICATES OF OCCUPANCY. A. The City will issue building permits for buildings provided that the final plat has been recorded with Washington County and all required fees are paid by the Developer. B. Before the City issues any building permits, the Developer shall install wetland buffer monuments in accordance with the City’s zoning ordinance. The monument design shall 2 LA515\147\1102601.v1 be approved by the City Planning Department. C. The City will not schedule a final building inspection or issue a permanent certificate of occupancy for the building to be constructed until all Subdivision Improvements have been installed and have been installed by the Developer and are accepted by the City in accordance with Section 19 of this Agreement. The City may issue a temporary certificate of occupancy for the building prior to the Subdivision Improvements being installed by the Developer and accepted by the City. This is provided that all safety inspections, such as for building and fire codes have been conducted by the City and passed by the Developer. D. Breach of the terms of this Agreement by the Developer, including nonpayment of billings from the City, shall be grounds for denial of building permits, certificates of occupancy, and withholding of other permits, inspection or actions and the halting of a ll work on the Property. E. If the City issues a building permit prior to the acceptance of the Subdivision Improvements by the City, the Developer assumes all liability and costs resulting in delays in completion of the Subdivision Improvements and damage to the Subdivision Improvements caused by the City, the Developer, the Developer’s contractors, subcontractors, materialmen, employees, agents, or any third parties. 2. Amendment Controls; Ratification and Affirmation. In the event that the terms of this Amendment and the Agreement are held to be inconsistent, the terms of this Amendment shall control. The parties each agree and warrant that, in all other respects, the Agreement is unmodified, in full force and effect, and each party hereby ratifies and affirms the Agreement and any terms contained therein not otherwise modified by this Amendment. 3. Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original but all of which, taken together, shall constitute one and the same instrument. Each party may rely upon facsimile or electronic mail counterparts of this Amendment signed by the other party with the same effect as if such party had received an original counterpart signed by such other party. 3 LA515\147\1102601.v1 IN WITNESS WHEREOF, the parties have executed this First Amendment as of the date first written above. DEVELOPER: Independent School District No. 834, Stillwater Area Public Schools By: _____________________________________ Its: Board Chair By: ____________________________________ Its: Board Clerk STATE OF MINNESOTA ) ) ss. COUNTY OF WASHINGTON ) The foregoing instrument was acknowledged before me this ____ day of ________________, 2026, by __________________ and ________________ the Board Chair and Board Clerk, respectively, of Independent School District No. 834, Stillwater Area Public Schools, a Minnesota body corporate and politic, on behalf of the district. ________________________________________ Notary Public 4 LA515\147\1102601.v1 CITY: City of Lake Elmo By: Charles Cadenhead Its: Mayor By: Julie Johnson Its: City Clerk STATE OF MINNESOTA ) ) ss. COUNTY OF WASHINGTON ) The foregoing instrument was acknowledged before me this _____ day of __________________, 2026, by Charles Cadenhead and Julie Johnson, the Mayor and City Clerk, respectively, of the City of Lake Elmo, a Minnesota municipal corporation on behalf of the City. ________________________________________ Notary Public This instrument was drafted by: Kennedy & Graven, Chartered (SJS) 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 (612) 337-9300 5 LA515\147\1102601.v1 EXHIBIT A Legal Description of the Property Lot 1, Block 1, 10TH AND LAKE ELMO SCHOOL ADDITION, according to the recorded plat thereof, County of Washington, State of Minnesota. Abstract Property STAFF REPORT DATE: July 7, 2026 REGULAR TO: Mayor and Councilmembers FROM: Nathan Fuerst, Consulting Planner REVIEWED BY: Jason Stopa, Community Development Director Sarah Sonsalla, City Attorney AGENDA ITEM: Lake Elmo Elementary Development Agreement – First Amendment CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☒ Responsive, transparent, adaptive governance ☐ Managed Growth ☒ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: Since final approvals of the Oak Land Middle School Expansion project in October of 2024, the Stillwater School District has been working towards their goal of having the school expansion project completed in time for the 2026-2027 school year. The project included the addition of a new gymnasium and classroom wings. While the new gymnasium and related remodeling are expected to be complete prior to the school year start, the new classroom wings were delayed due to a steel supply contractor going out of business. The School District expects to have the building partially complete when the school year begins but may not be fully completed with certain areas of the buildings. The school district is hoping to allow staff to enter and begin use of the completed areas of the school building in late July or early August to prepare for the start of school. The City’s standard form of Site Improvement Agreement does not permit any certificates of occupancy (including temporary) until the Subdivision Improvements (as defined in the agreement, which include most of the physical site improvements) are completed and accepted by the City. City staff expect that while most areas of the school building will be complete and site improvements will be satisfactorily completed for occupancy, the City may not be in a position to consider the Subdivision Improvements complete and may therefore be unable to allow occupancy of the building on the School District’s preferred timeline. The Stillwater School District has therefore requested an amendment to the Site Improvement Agreement to allow for the City to issue a temporary certificate of occupancy while site improvements and punch list items are wrapped up. ISSUE BEFORE COUNCIL: Should the City amend the Site Improvement Agreement for the Oak Land Elementary site to allow a temporary certificate of occupancy to be granted? PROPOSAL DETAILS/ANALYSIS: The City and School teams have resumed regular coordination meetings to discuss building and site improvement progress. At this time, City staff are confident that the site improvements will be generally complete, but do feel that items such as final landscaping acceptance and punch list items like as built submittal could go into late summer and early fall before a Certificate of Occupancy could be granted under the Site Improvement Agreement as presently written. The School District construction team has generally been proactive on scheduling building and fire inspections. School District staff have also communicated they understand that all safety inspections, such as for building and fire codes, must be conducted and relevant final inspections passed before a temporary occupancy could be issued. The City may issue separate certificates of occupancy for the different areas of the building under construction. This would allow for the School District to maintain use of the completed portions of the building while restricting access to the areas under construction while work is ongoing. City inspection staff have identified key requirements such as ingress and egress, signage, and related considerations to manage life and safety concerns while the building work continues. Proposed Amendment: Section 21.B of the Oak-Land Middle School Addition Site Improvement Agreement would be modified to allow for a temporary certificate of occupancy to be issued by the City of Lake Elmo provided satisfactory progress has been made on the Site Improvements. The proposed amendment is to allow site improvements outside of the building to be completed to an acceptable level and will not impact any building or fire code requirements. Requirements of the building and fire codes must still be met in full prior to any temporary or full occupancy. FISCAL IMPACT: There are no anticipated costs to the City for this request at this time. OPTIONS: Approve or deny the proposed amendment. RECOMMENDATION: City Staff recommend approval of the proposed amendment to the 10th and Lake Elmo School Addition Development Agreement. Approval of this item on the consent agenda or through the following example motion is recommended: “Move to adopt Resolution 2026-047 approving the first amendment to the Site Improvement Agreement for the Oak-Land Middle School Addition project with the findings and conditions therein.” ATTACHMENTS: 1. Letter request from Stillwater Area Schools 2. Resolution 2026-047 3. Site Improvement Agreement First Amendment – Oak Land Middle School Addition 4. Site Improvement Agreement – Oak-Land Middle School Addition CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION NO. 2026-047 A RESOLUTION APPROVING THE FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT FOR OAK-LAND MIDDLE SCHOOL ADDITION WHEREAS, the City of Lake Elmo is a municipal corporation organized and existing under the laws of the State of Minnesota; and WHEREAS, Stillwater Area Schools, Independent School District 834, (the “Applicant”) has previously submitted an application to the City of Lake Elmo (the “City”) for a minor subdivision for Oak-Land Middle School Addition; and WHEREAS, the Lake Elmo City Council adopted Resolution No 2024-105 on October 1st, 2024 approving the minor subdivision for Oak-Land Middle School Addition; and WHEREAS, the Applicant and the City have agreed to amend the Site Improvement Agreement for Oak-Land Middle School Addition a first time in order to allow a temporary certificate of occupancy to be issued by the City prior to City approval and acceptance of the Site Improvements as described in the staff report to City Council dated July 7, 2026; and NOW, THEREFORE, based on the information received, the City Council of the City of Lake Elmo does hereby approve the First Amendment to the Site Improvement Agreement for Oak-Land Middle School Addition, authorize the City Attorney to draft the First Amendment to the Site Improvement Agreement to include provisions to allow issuance of a temporary certificate of occupancy prior to City approval and acceptance of the Site Improvements as proposed in the staff report dated July 7, 2026, and authorize the Mayor and City Clerk to execute the First Amendment to Site Improvement Agreement. Passed and duly adopted this ____ day of _________2026 by the City Council of the City of Lake Elmo, Minnesota. __________________________________ Charles Cadenhead, Mayor ATTEST: ________________________________ Julie Johnson, City Clerk 1 LA515\145\1102735.v2 FIRST AMENDMENT TO SITE IMPROVEMENT AGREEMENT (OAK-LAND MIDDLE SCHOOL ADDITION) THIS FIRST AMENDMENT TO SITE IMPROVEMENT AGREEMENT (this “First Amendment”) is entered into this ___ day of _____________, 2026, by Independent School District No. 834, Stillwater Area Public Schools, a Minnesota body corporate and politic (the “Developer”) and the City of Lake Elmo, a Minnesota municipal corporation (the “City”). R E C I T A L S WHEREAS, the City and the Developer entered into that certain Site Improvement Agreement on April 25, 2025, recorded as Document No. ________ (the “Agreement”), relating to the redevelopment and expansion of Oak-Land Middle School, the property of which is legally described on the attached Exhibit A; and WHEREAS, the Developer has requested that the Agreement be amended to allow for the issuance of a temporary certificate of occupancy for the start of school operations for certain portions of the expansion project, including access to the new gymnasium addition by the Developer’s staff and students prior to completion of the new classroom addition and City acceptance of all Improvements; and WHEREAS, the City and the Developer desire to amend the Agreement to include provisions to allow one or more temporary certificates of occupancy for various portions of the phased expansion project to be issued prior to completion of all portions of the expansion project and City acceptance of all Improvements; and NOW, THEREFORE, in consideration of the foregoing and the covenants and obligations contained in this Amendment and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed by and between the City and the Developer as follows: 1. Section 21 of the Site Improvement Agreement shall be deleted in its entirety and be amended to read as follows: 21. BUILDING PERMITS/CERTIFICATES OF OCCUPANCY. A. The City will issue building permits for buildings provided that the final plat has been recorded with Washington County. 2 LA515\145\1102735.v2 B. The City will not schedule a final building inspection or issue a certificate of occupancy for the new buildings to be constructed until all Improvements have been installed and have been accepted by the City in accordance with Section 19 of this Agreement. The City may issue one or more temporary certificates of occupancy for the phased expansion project prior to the completion of all portions of the expansion project and all Improvements being installed by the Developer and accepted by the City. This is provided that all safety inspections, such as for building and fire codes have been conducted by the City and passed by the Developer for the portion of the expansion project that the Developer wishes to utilize. C. Breach of the terms of this Agreement by the Developer, including nonpayment of billings from the City, shall be grounds for denial of building permits, certificates of occupancy, and withholding of other permits, inspection or actions and the halting of a ll work on the Property. D. If the City issues a building permit prior to the acceptance of the Improvements by the City, the Developer assumes all liability and costs resulting in delays in completion of the Improvements and damage to the Improvements caused by the City, the Developer, the Developer’s contractors, subcontractors, materialmen, employees, agents, or any third parties. 2. Amendment Controls; Ratification and Affirmation. In the event that the terms of this Amendment and the Agreement are held to be inconsistent, the terms of this Amendment shall control. The parties each agree and warrant that, in all other respects, the Agreement is unmodified, in full force and effect, and each party hereby ratifies and affirms the Agreement and any terms contained therein not otherwise modified by this Amendment. 3. Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original but all of which, taken together, shall constitute one and the same instrument. Each party may rely upon facsimile or electronic mail counterparts of this Amendment signed by the other party with the same effect as if such party had received an original counterpart signed by such other party. 3 LA515\145\1102735.v2 IN WITNESS WHEREOF, the parties have executed this First Amendment as of the date first written above. DEVELOPER: Independent School District No. 834, Stillwater Area Public Schools By: _____________________________________ Its: Board Chair By: ____________________________________ Its: Board Clerk STATE OF MINNESOTA ) ) ss. COUNTY OF WASHINGTON ) The foregoing instrument was acknowledged before me this ____ day of ________________, 2026, by __________________ and ________________ the Board Chair and Board Clerk, respectively, of Independent School District No. 834, Stillwater Area Public Schools, a Minnesota body corporate and politic, on behalf of the district. ________________________________________ Notary Public 4 LA515\145\1102735.v2 CITY: City of Lake Elmo By: Charles Cadenhead Its: Mayor By: Julie Johnson Its: City Clerk STATE OF MINNESOTA ) ) ss. COUNTY OF WASHINGTON ) The foregoing instrument was acknowledged before me this _____ day of __________________, 2026, by Charles Cadenhead and Julie Johnson, the Mayor and City Clerk, respectively, of the City of Lake Elmo, a Minnesota municipal corporation on behalf of the City. ________________________________________ Notary Public This instrument was drafted by: Kennedy & Graven, Chartered (SJS) 150 South Fifth Street, Suite 700 Minneapolis, MN 55402 (612) 337-9300 5 LA515\145\1102735.v2 EXHIBIT A Legal Description of the Property Lot 1, Block 1, OAK-LAND MIDDLE SCHOOL ADDITION, according to the recorded plat thereof, Washington County, Minnesota. STAFF REPORT DATE: July 7, 2026 CONSENT TO: Mayor and Councilmembers FROM: Jack Griffin, Senior Project Manager AGENDA ITEM: Approve Pay Request #1 for Test Well 6 CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Responsive, transparent, adaptive governance ☐Managed Growth ☐ Efficient, reliable, innovative services ☒ Balanced Finances now and future ☒ Resilient Infrastructure BACKGROUND: On December 16, 2025, the City Council awarded a contract to Traut Companies for the construction of Test Well 6. The well drilling has been completed with water quality test results pending. ISSUE BEFORE COUNCIL: Should the City Council approve Pay Request No. 1 for Test Well 6? PROPOSAL DETAILS/ANALYSIS: Traut Companies has submitted Partial Pay Request No. 1 in the amount of $138,141.40. The request has been reviewed and payment is recommended in the amount requested. In accordance with the contract documents, the City has retained 5% of the total work completed. The amount retained as of this pay request is $7,270.60. FISCAL IMPACT:The partial payment in the amount of $138,141.40 is in accordance with the Contract for the project.Payment remains within the authorized scope and budget.Construction costs for Test Well 6 is estimated to be $171,187.00. The project costs will be fully funded through the Water Core Fund.Construction and Engineering costs associated with the Test Well are not grant reimbursable,as they are deemed to be associated with population growth. RECOMMENDATION: (if pulled from Consent): Motion to approve Pay Request #1 in the amount of $138,141.40 to Traut Companies for Test Well 6. ATTACHMENTS: 1.Partial Pay Estimate No. 1 Stantec Consulting Services Inc. 733 Marquette Avenue Suite 1000, Minneapolis, Mn 55402 June 12, 2026 File: 173420169 Attention: Jack Griffin, Senior Project Manager City of Lake Elmo 3880 Laverne Avenue North Lake Elmo, MN 55402 Reference: Test Well No. 6 Construction Stantec Project No. 173420169 Dear Mr. Griffin, Enclosed Is an electronic copy of Pay Request No. 1 for the drilling of Test Well No. 6. This Pay Request represents work completed through May 31, 2026. We have reviewed the Request for Payment from Traut Companies and recommend payment for $138,141.40. This pay request is for site preparation, mobilization, drilling, and development of Test Well No. 6. Test pumping and water quality sampling will be invoiced in a future pay request. Please distribute signed and executed copies of the pay request to Traut Companies, copying Stantec on the communication. Please call me at the number below if you have any questions or comments. Regards, STANTEC CONSULTING SERVICES INC. Mark Janovec Senior Scientist Phone: (651) 775-6532 mark.janovec@stantec.com Attachment: Pay Request No. 1 Owner: Date: June 11, 2026 For Period:Request No:1 Contractor: CONTRACTOR'S REQUEST FOR PAYMENT TEST WELL NO. 6 STANTEC PROJECT NO. 173420169 SUMMARY 1 Original Contract Amount $ 178,537.00 2 Change Order - Addition $ 0.00 3 Change Order - Deduction $ 0.00 4 Revised Contract Amount $ 178,537.00 5 Value Completed to Date $ 145,412.00 6 Material on Hand $0.00 7Amount Earned $ 145,412.00 8 Less Retainage 5%$ 7,270.60 9 Subtotal $ 138,141.40 10 Less Amount Paid Previously $ 0.00 11 Liquidated damages - $0.00 12 AMOUNT DUE THIS REQUEST FOR PAYMENT NO. 1 $ 138,141.40 Recommended for Approval by: STANTEC Approved by Contractor: Approved by Owner: Specified Contract Completion Date: Date: Traut Companies, 32640 County Rd. 133, St. Joseph, MN 56374 City of Lake Elmo, 3880 Laverne Avenue North, MN 55042 4/1/2026 to 5/31/2026 TRAUT COMPANIES CITY OF LAKE ELMO 173420169REQ1.xlsm Contract Unit Current Quantity Amount No.Item Unit Quantity Price Quantity to Date to Date BASE BID 1 MOBILIZATION LS 1 30,367.00 1 1 $30,367.00 2 FURNISH, INSTALL, REMOVE SILT FENCE, HEAVY DUTY LF 100 10.00 100 100 $1,000.00 3 DRILL/DRIVE 10" CASING LF 80 210.00 164 164 $34,440.00 4 DRILL OPEN HOLE FOR 6" CASING LF 325 140.00 241 241 $33,740.00 5 PLACE 6" CASING (INCLUDING3' STICKUP)LF 408 60.00 408 408 $24,480.00 6 DRILL 6" OPEN HOLE LF 95 90.00 74 74 $6,660.00 7 GROUT ANNULAR SPACES CY 12 975.00 9 9 $8,775.00 8 AIR DEVELOPMENT HR 16 600.00 4.75 4.75 $2,850.00 9 FURNISH, INSTALL, REMOVE TEST PUMP AND DISCHARGE PIPING LS 1 8,700.00 0 0 $0.00 10 TEST PUMPING HR 24 300.00 0 0 $0.00 11 WATER QUALITY SAMPLING EA 1 4,190.00 0 0 $0.00 12 GAMMA LOG LOG EA 1 2,250.00 1 1 $2,250.00 13 FINISH WELLHEAD, FURNISH AND INSTALL LOCKING CAP EA 1 850.00 1 1 $850.00 WORK COMPLETED TO DATE:$145,412.00 173420169REQ1.xlsm PROJECT PAYMENT STATUS OWNER CONTRACTOR CHANGE ORDERS No. Date Description Amount Total Change Orders PAYMENT SUMMARY No. From To Payment Retainage Completed 1 04/01/2026 05/31/2026 Material on Hand Total Payment to Date Original Contract $178,537.00 Retainage Pay No. 1 Change Orders Total Amount Earned Revised Contract $178,537.00 $138,141.40 7,270.60 $145,412.00 145,412.00138,141.40 7,270.60 CITY OF LAKE ELMO TRAUT COMPANIES STANTEC PROJECT NO. 173420169 173420169REQ1.xlsm STAFF REPORT DATE: July 7, 2026 CONSENT TO: Mayor and Councilmembers FROM: Mike Rusenovich, Project Engineer AGENDA ITEM: Accept Bids and Award a Contract for the 2026 Seal Coat Project CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Responsive, transparent, adaptive governance ☐Managed Growth ☒ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☒ Resilient Infrastructure BACKGROUND: In accordance with the City’s annual street maintenance program, certain streets have been scheduled to be seal coated in 2026. See a0ached Loca2on Map. The street maintenance work programmed in 2026 was reviewed jointly by Public Works and Engineering to confirm the work to be completed. The project was adver2sed on QuestCDN and in the S2llwater Gaze0e in accordance with Minnesota compe22ve bidding requirements. ISSUE BEFORE COUNCIL: Should the City Council accept bids and award a contract for the 2026 Seal Coat Project? PROPOSAL DETAILS/ANALYSIS: Plans and specifica2ons were completed for the 2026 Seal Coat Project and contractor bids were received, publicly opened, and read aloud on Friday, June 26, 2026. An Engineer’s Le0er of Recommenda2on and a Tabula2on of Bids has been prepared and a0ached. The City received two bids for this project, with Pearson Bros, Inc. providing the lowest bid in the amount of $279,404.16. Following review and verifica2on of the bid tabula2ons, the City Engineer and Design Engineer are recommending that the City Council award the contract to the lowest responsible bidder, Pearson Bros, Inc., as outlined in the a0ached le0er. FISCAL IMPACT: Approval of this resolu2on commits the City to enter into a construc2on contract for the project in the amount of $279,404.16. The project will be funded through the 2026 Street Maintenance Funds. OPTIONS: · Accept the Bids and Award a Contract to Pearson Bros, Inc. · Do not move forward with this project. RECOMMENDATION: (if pulled from Consent): Mo2on to approve Accep2ng Bids and Awarding a Contract to Pearson Bros, Inc. for the amount of $279,404.16 for the 2026 Seal Coat Project. ATTACHMENTS: 1. Engineer’s Le0er of Award Recommenda2on and Tabula2on of Bids 2. 2026 Seal Coat Project Loca2on Map 3. 2026 Seal Coat Project Schedule June 29, 2026 Nate Stanley, P.E. City Engineer City of Lake Elmo 3880 Laverne Avenue N Lake Elmo, Minnesota 55042 RE: 2026 Seal Coat Project City of Lake Elmo, MN City Project No. 142139 BMI Project No. 26X.142139 Dear Mr. Stanley, Attached is the bid abstract for the project referenced above. Two bids were received at 10:00 a.m. on Friday, June 26, 2026. The following is a summary of the bids received: Bidder Total Bid Pearson Bros, Inc. $279,404.16 Allied Blacktop Company $345,269.98 We have reviewed the bids and recommend awarding this bid to Pearson Bros, Inc. in the amount of $279,404.16. Sincerely, Bolton & Menk, Inc. Michael Rusenovich, P.E. Project Engineer Enclosure ABSTRACT OF BIDS2026 SEAL COAT PROJECTCITY PROJECT NO. 26X.142139CITY OF LAKE ELMO, MNBID DATE: 6/26/2026TIME: 10:00 AM 1 2ITEM APPROX.NO. ITEM QUANT. UNIT UNIT PRICE AMOUNT UNIT PRICE AMOUNT1BITUMINOUS SEAL COAT WITH 1/8" DRESSER TRAP ROCK AND CRS-2P EMULSIFIED ASPHALT149,314 SY $1.64 $244,874.96 $2.07 $309,079.982 PROTECT EXISTING THERMOPLASTIC PAVEMENT MARKING (TURN ARROW) 10 EA $150.00 $1,500.00 $200.00 $2,000.003PROTECT EXISTING THERMOPLASTIC PAVEMENT MARKING (ADA STALL SYMBOL)3 EA $300.00 $900.00 $200.00 $600.004 PROTECT EXISTING STRIPING - CROSSWALK 200 LF $5.00 $1,000.00 $25.00 $5,000.00$248,274.96 $316,679.98PART 2 - SEAL COAT LAKE ELMO CITY FACILITIES5BITUMINOUS SEAL COAT WITH 1/8" DRESSER TRAP ROCK AND CRS-2P EMULSIFIED ASPHALT11,196 SY $2.70 $30,229.20 $2.50 $27,990.006PROTECT EXISTING THERMOPLASTIC PAVEMENT MARKING (ADA STALL SYMBOL)3 EA $300.00 $900.00 $200.00 $600.00$31,129.20 $28,590.00TOTAL AMOUNT BID : $279,404.16 $345,269.98PART 1 - SEAL COAT LAKE ELMO STREETSTOTAL PART 1 - SEAL COAT LAKE ELMO STREETSTOTAL PART 2 - SEAL COAT LAKE ELMO CITY FACILITIESALLIED BLACKTOP COMPANYPEARSON BROS, INC. CITY OF LAKE ELMO Feet 0 2500 5000 2026 STREET MAINTENANCE MAP LEGEND 2026 CRACK SEAL & SEAL COAT WELL #2 PUMPHOUSE WELL #5 WELLHOUSE WELL #4 WELLHOUSE INWOOD BOOSTER STATION TAPESTRY LIFT STATION 32ND STREET LIFT STATION ROYAL GOLF NE LIFT STATION ROYAL GOLF W LIFT STATION ROYAL GOLF S LIFT STATION CITY HALL PARKING LOT INWOOD WATER TOWER GOOSE LAKE PARK PARKING LOT 3507 High Point Drive North Bldg. 1 – Suite E130 Oakdale, MN 55128 Phone: (651) 704-9970 Bolton-Menk.com 2026 Street Maintenance Project Lake Elmo, MN Project No.: 26X.142139.000 CRACK SEAL PROJECT May 22, 2026 Solicit Quotations June 5, 2026 Receive Contractor Quotes (Two Weeks) June 16, 2026 Council awards Contract July 6, 2026 Contractor begins work July 31, 2026 Substantial completion of work SEAL COAT PROJECT June 5, 2026 Ad for Bid, QuestCDN Project Posted June 26, 2026 Receive Contractor Bids (21-day bidding period) July 7, 2026 Council accepts bids and awards Contract August 10, 2026 Contractor begins work (Or sooner if crack seal schedule allows) September 4, 2026 Substantial completion of work September 25, 2026 Final completion of work STRIPING PROJECT June 5, 2026 Solicit Quotations June 19, 2026 Receive Contractor Quotes (2-weeks) July 7, 2026 Council awards Contract September 25, 2026 Contractor begins work October 23, 2026 Final completion of work STAFF REPORT DATE: July 7, 2026 CONSENT TO: Mayor and Councilmembers FROM: Mike Rusenovich, Project Engineer AGENDA ITEM: Accept Quotes and Award a Contract for the 2026 Striping Project CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Responsive, transparent, adaptive governance ☐Managed Growth ☒ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☒ Resilient Infrastructure BACKGROUND: In accordance with the City’s annual street maintenance program, certain streets have been scheduled to be seal coated in 2026. Streets that have existing pavement markings must be restriped after the seal coat work is complete. See attached Location Map. The street maintenance work programmed in 2026 was reviewed jointly by Public Works and Engineering to confirm the work to be completed. ISSUE BEFORE COUNCIL: Should the City Council accept quotes and award a contract for the 2026 Striping Project? PROPOSAL DETAILS/ANALYSIS: Quotes for striping were solicited from three qualified contractors and one quote was received on June 19, 2026. Sir Lines-a-Lot, LLC provided the quote of $12,719.70. Following review and verification of the quote, the City Engineer and Design Engineer are recommending that the City Council award the contract to Sir Lines-A-Lot, LLC as outlined in the attached letter. FISCAL IMPACT: Approval of this resolution commits the City to enter into a construction contract for the project in the amount of $12,719.70. The project will be funded through the 2026 Street Maintenance Funds. OPTIONS: Accept the Quote and Award a Contract to Sir Lines-A-Lot, LLC. Do not move forward with this project. RECOMMENDATION: (if pulled from Consent): Motion to approve Accepting Quotes and Awarding a Contract to Sir Lines-A-Lot, LLC for the amount of $12,719.70 for the 2026 Striping Project. ATTACHMENTS: 1.Sir Lines-A-Lot Quote 2.2026 Striping Project Location Map CITY OF LAKE ELMO Feet 0 2500 5000 2026 STREET STRIPING MAP LEGEND 2026 STRIPING 2. UPPER 33RD ST N 4. JUNCO ROAD N (CROSSWALKS) 1. 41ST STREET N (LEGACY AT NORTHSTAR 3RD) 3. ROYAL BLVD N 5. HUDSON BLVD N 6. GOOSE LAKE PARK PARKING LOT 7. LAKE ELMO CITY HALL PARKING LOT STAFF REPORT DATE: July 7, 2026 CONSENT TO: Mayor and Councilmembers FROM: Mike Rusenovich, Project Engineer AGENDA ITEM: Release Warranty Security for the Ebertz Addition (Drake Motor Partners, LLC) CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Responsive, transparent, adaptive governance ☒Managed Growth ☐ Efficient, reliable, innovative services ☒ Balanced Finances now and future ☒ Resilient Infrastructure BACKGROUND: Drake Motor Partners LE LLC entered into a development agreement with the City for the Ebertz Addition (Ebertz North) on June 13, 2023. The public improvement warranty period ended on August 20, 2025. The sanitary sewer and watermain warranty period ended on April 29, 2026. ISSUE BEFORE COUNCIL: Should the City Council approve release of warranty security for the Ebertz Addition (Ebertz North)? PROPOSAL DETAILS/ANALYSIS: Staff has received and processed a request to release the development security for the Ebertz Addition (Ebertz North). The warranty period for sanitary sewer and watermain has expired. Twenty-five percent (25%) of the original security was retained through the warranty period. A warranty walk-through was completed by city staff and all warranty punch list items have since been addressed by the developer. With release of the warranty security the overall development security may be released as shown below: Current Security Amount Proposed Security Amount 1. Ebertz Addition (Ebertz North)$167,937 $84,187 Twenty-five percent (25%) of the landscaping security amount will be retained. FISCAL IMPACT: Release of the warranty security closes out the public improvement portion of the development. The operation and maintenance of the public facilities become the responsibility of the city going forward. RECOMMENDATION: (if pulled from Consent): Motion to approve release of warranty security for the Ebertz Addition as detailed in the Security Reduction Worksheet, contingent on the developer being current with all payments and obligations in accordance with the Development Agreement, including a positive escrow balance as may be required by the City. ATTACHMENTS: 1.Security Reduction Worksheet – Ebertz Addition. EBERTZ NORTH (DRAKE)Time of Performance: October 31, 2024SITE IMPROVEMENT AGREEMENT AMOUNTSCATEGORYCOST125%REMARKS#1#2#3#4#5#6Grading$118,600$148,250100%$148,250Sanitary Sewer$56,000$70,000100%$52,500$17,500Watermain$212,000$265,000100%$198,750$66,250Storm Sewer (w/pond structures)$386,563$483,204100%$362,403$120,801Street and Sidewalks$788,000$985,000100%$738,750$246,250Bituminous Trails$36,000$45,000100%$33,750$11,250Surface Water Facilities (ponds, infiltration basins, other BMPS)$200,240 $250,300100%$187,725 $62,575Street Lighting$10,000$12,500100%$9,375$3,125Street Signs and Traffic Control SignsNANAPrivate Utilities (electricity, natural gas, telephone, and cable)NANALandscaping$121,107$151,38475%$113,538Tree Preservation and Restoration$148,290$185,36375%$139,022Tree Replacement$9,880$12,350100%$12,350Wetland Mitigation and Buffers$7,500$9,375100%$7,031$2,344Monuments$5,400$6,750100%$5,063$1,688Erosion Control and Restoration$53,520$66,900100%$50,175$16,725Record Drawings$10,000$12,500100%$9,375$3,125TOTALS$2,163,100$2,703,875RELEASED AMOUNTS:$1,654,897$413,160$467,882$83,750CUMMULATIVE AMOUNTS:$1,654,897$2,068,056$2,535,938$2,619,688SECURITY AMOUNT REMAINING:$1,048,978$635,819$167,937$84,187DATE: 8/20/2024 9/17/2024 9/16/20257/7/2026REDUCTIONS STAFF REPORT DATE: July 7, 2026 CONSENT TO: Mayor and Councilmembers FROM: Jack Griffin, Senior Project Manager AGENDA ITEM: Approve Cooperative Agreement Payment #1 for TH36-Lake Elmo Avenue Improvements CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Responsive, transparent, adaptive governance ☐Managed Growth ☐ Efficient, reliable, innovative services ☒ Balanced Finances now and future ☒ Resilient Infrastructure BACKGROUND: On May 5, 2026, the City of Lake Elmo approved Cooperative Agreement No. 18223 with Washington County for the cost sharing of the interchange and frontage road improvements on Trunk Highway (TH) 36 and County State Aid Highway (CSAH) 17 (Lake Elmo Avenue), the “Project”. The Project will be constructed in 2026 and 2027. ISSUE BEFORE COUNCIL: Should the City Council approve Payment No. 1 for the Project in accordance with Washington County Invoice No. 236361? PROPOSAL DETAILS/ANALYSIS: In accordance with the payment schedule outlined in the Agreement, Washington County has submitted Invoice #236361 in the amount of $243,400.00. The amount requested reflects 10% of the City’s share of the total estimated Project costs as outlined in Table 1 of the Agreement. The invoice has been reviewed and payment is recommended in the amount requested. FISCAL IMPACT:No additional fiscal impact.The partial payment amount of $243,400.00 is in accordance Project Cooperative Agreement No. 13753 with Washington County, Agreement No. 236361. RECOMMENDATION: (if pulled from Consent): Motion to approve Payment No. 1 for the Project in accordance with Washington County Invoice No. 236361, in the amount of $243,400.00. ATTACHMENTS: 1.Washington County Invoice No. 236361. WACO PUBLIC WORKS DEPT 11660 MYERON RD N STILLWATER MN 55082 Invoice Invoice Number:236361 Account Number:223776 Due Date 7/17/26 Amount Enclosed: $ ___________ Federal Tax Id:41-6005919 To: CITY OF LAKE ELMO 3880 LAVERNE AVE N LAKE ELMO MN 55042 Please return top portion with payment. Thank You. Invoice Date Number Type Due Date Remark Amount 6/17/26 236361 Invoice 7/17/26 CSAH 17 TH 36 Initial Billing $243,400.00 I declare under the penalties of law that this account claim or demand, is just and correct and no part of it has been paid. Please make check payable to Washington County and mail to the address above. Invoice Total $243,400.00 Sales Tax Balance Due $243,400.00 CSAH 17 & TH 36 InterchangeCity of Lake ElmoCounty/City Cooperative Agreement #18223Initial Billing6/17/2026City Cost (per Bid Abstract)City ShareFunding AppliedCost Per Agreement Initial INV - 10%Construction27,313,659.44$ 4,667,400.00$ 3,190,000.00$ 1,477,400.00$ 147,740.00$ Design Engineering3,131,400.00$ 532,300.00$ -$ 532,300.00$ 53,230.00$ Construction Engineering/Contract Administration2,194,700.00$ 373,400.00$ -$ 373,400.00$ 37,340.00$ Right-of Way9,950,000.00$ 4,750,000.00$ 4,750,000.00$ -$ -$ County Furnished Materials203,700.00$ 50,900.00$ -$ 50,900.00$ 5,090.00$ TOTAL42,793,459.44$ 10,374,000.00$ 7,940,000.00$ 2,434,000.00$ 243,400.00$ STAFF REPORT DATE: July 7, 2026 REGULAR AGENDA ITEM:Presentation & Acceptance of the 2025 Annual Comprehensive Financial Report FROM: Clarissa Hadler, Finance Director CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☒ Efficient, reliable, innovative services ☒ Responsive, transparent, adaptive governance ☒ Balanced Finances now and future ☐ Managed Growth ☐ Resilient Infrastructure BACKGROUND: Annually, the City engages the services of an independent outside audit firm to audit and assist with the preparation of the financial statements. The auditors are asked to assure that the financial statements are free from material misstatement in accordance with U.S. Generally Accepted Accounting Principles (GAAP). The firm also performs testing and makes inquiries to help ensure that proper internal controls are in place. The City has retained the services of Schlenner Wenner to perform the City of Lake Elmo’s audit for 2025. The 2025 Annual Comprehensive Financial Report will be presented to the City Council by Mr. Ryan Schmidt – Partner, from Schlenner Wenner with the opportunity to ask questions of both Mr. Schmidt and City Staff. ISSUE BEFORE THE CITY COUNCIL: 1)Does the City Council have any questions regarding the 2025 Annual Comprehensive Financial? DISCUSSION: Mr. Ryan Schmidt will present information regarding the 2025 Audit and answer any questions the City Council may have pertaining to the 2025 Audit and the 2025 Financial Statements. The City received an unmodified audit opinion, meaning the Financial Statements are fairly stated in all material respects. There were no findings related to Minnesota Legal Compliance. One finding related to Internal Controls over Financial Reporting is noted in the report - Lack of Segregation of Duties. As of December 31, 2025, the unassigned fund balance of the General Fund was $ 12,605,632 or 140.5% of 2026 budgeted expenditures and transfers. FISCAL IMPACT: Overall sound policies, fiscal management, effective operational, capital, and long-range planning are all integral parts of City business leading up to the audit and completion of the ACFR. As such, continued investment in financial systems will help position the City to continue to provide quality, efficient, timely and cost-effective services to the constituents of the community. RECOMMENDATION: No formal action is required, but the City Council at its discretion may accept the results of the 2025 Audit and 2025 ACFR. MOTION: “Motion to accept the 2025 Annual Comprehensive Financial Report.” ATTACHMENTS: 1)2025 Annual Comprehensive Financial Report (ACFR) 2)Schlenner Wenner Report to the Members of Governance City of Lake Elmo, Minnesota Audited Financial Statements For The Year Ended December 31, 2025 CITY OF LAKE ELMO, MINNESOTA TABLE OF CONTENTS INTRODUCTORY SECTION: CITY COUNCIL AND OFFICIALS ................................................................................................................................ 2 FINANCIAL SECTION: INDEPENDENT AUDITOR’S REPORT ........................................................................................................................ 4 REQUIRED SUPPLEMENTARY INFORMATION: Management’s Discussion and Analysis ....................................................................................................................... 8 BASIC FINANCIAL STATEMENTS: Government-wide Financial Statements Statement of Net Position ..................................................................................................................................... 19 Statement of Activities ......................................................................................................................................... 20 Fund Financial Statements Balance Sheet – Governmental Funds .................................................................................................................. 21 Reconciliation of the Balance Sheet – Governmental Funds to the Statement of Net Position .................................................................................................................... 22 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ....................................................................................... 23 Reconciliation of Changes in Fund Balances of Governmental Funds to the Statement of Activities ........................................................................................................................ 25 Statement of Net Position – Proprietary Funds .................................................................................................... 26 Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds ................................................................................................ 27 Statement of Cash Flows – Proprietary Funds ..................................................................................................... 28 Notes to the Basic Financial Statements ..................................................................................................................... 30 REQUIRED SUPPLEMENTARY INFORMATION: Budgetary Comparison Schedule – General Fund ....................................................................................................... 64 Schedule of City’s Proportionate Share of the Net Pension Liability .......................................................................... 66 Schedule of City Pension Contributions ...................................................................................................................... 67 Schedule of Changes in Net Pension Liability (Asset) – Firefighters Relief Association ........................................... 68 Schedule of Changes in City’s Net OPEB Liability .................................................................................................... 69 Schedule of City OPEB Contributions ........................................................................................................................ 70 Notes to the Required Supplementary Information ..................................................................................................... 71 SUPPLEMENTARY INFORMATION: Combining Balance Sheet – Nonmajor Governmental Funds ..................................................................................... 82 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Governmental Funds ............................................................................. 83 Combining Balance Sheet – Nonmajor Special Revenue Funds ................................................................................. 84 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Special Revenue Funds ......................................................................... 85 Combining Balance Sheet – Nonmajor Capital Project Funds .................................................................................... 86 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Capital Project Funds ............................................................................ 90 Supplemental Combining Balance Sheet – Debt Service Fund ................................................................................... 95 Supplemental Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance – Debt Service Fund ................................................................................................... 97 Schedule of Indebtedness ............................................................................................................................................ 99 CITY OF LAKE ELMO, MINNESOTA TABLE OF CONTENTS (Continued) OTHER REQUIRED REPORTS AND SCHEDULES: Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ............................................................................................................................... 101 Schedule of Findings and Responses ................................................................................................................................ 103 Corrective Action Plans .................................................................................................................................................... 104 1 INTRODUCTORY SECTION 2 CITY OF LAKE ELMO, MINNESOTA CITY COUNCIL AND OFFICIALS FOR THE YEAR ENDED DECEMBER 31, 2025 CITY COUNCIL Term Expires Charles Cadenhead Mayor January 1, 2029 Nick Dragisich Council Member January 1, 2029 Matt Hirn Council Member January 1, 2027 Jeff Holtz Council Member January 1, 2029 Nick Kragness Council Member January 1, 2027 APPOINTED CITY OFFICIALS Nicole Miller City Administrator Appointed Clarissa Hadler Finance Director Appointed Nina Kraemer Finance Coordinator Appointed Julie Johnson City Clerk Appointed 3 FINANCIAL SECTION 4 www.swco.cpa INDEPENDENT AUDITOR’S REPORT Honorable Mayor and City Council City of Lake Elmo, Minnesota Report on the Audit of the Financial Statements Opinions We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Lake Elmo, Minnesota (the City) as of and for the year ended December 31, 2025, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Lake Elmo, Minnesota, as of December 31, 2025, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the “Auditor’s Responsibilities for the Audit of the Financial Statements” section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. 5 Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assuranc e is a high level of assurance but is not absolute assurance and, therefore, is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis, Budgetary Comparison Schedule, pension schedules, and OPEB schedules listed in the table of contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The accompanying introductory section, combining and individual nonmajor fund financial statements and supplemental schedules, and schedule of indebtedness are presented for purposes of additional analysis and are not a required part of the basic financial statements. 6 The combining and individual nonmajor fund financial statements and supplemental schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and supplemental schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. The introductory section and schedule of indebtedness have not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on them. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated June 25, 2026 on our consideration of the City of Lake Elmo’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City of Lake Elmo’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City of Lake Elmo’s internal control over financial reporting and compliance. SCHLENNER WENNER & CO. St. Cloud, Minnesota June 25, 2026 7 REQUIRED SUPPLEMENTARY INFORMATION CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 8 Our discussion and analysis of the City of Lake Elmo’s financial performance provides an overview of the City’s financial activities for the year ended December 31, 2025. Please read it in conjunction with the independent auditor’s report on page 4 and the City’s financial statements, which begin on page 19. FINANCIAL HIGHLIGHTS • The assets and deferred outflows of the City of Lake Elmo exceeded its liabilities and deferred inflows at the close of the most recent fiscal year by $237,888,497 (net position). The unrestricted portion of net position, the portion used to meet the City’s ongoing obligations to citizens and creditors, is $36,963,605. • The City’s total net position increased $34,860,981 as a result of this year’s operations. • As of the close of the current fiscal year, the City of Lake Elmo’s governmental funds reported a combined ending fund balance of $23,110,851, which is a decrease of $1,270,207 in comparison with the prior year. The overall unassigned fund balance is $7,716,711. • At the end of the current fiscal year, unrestricted fund balance for the General Fund was $12,443,449, which is 160 percent of total 2025 General Fund expenditures and 140 percent of budgeted 2026 General Fund expenditures. The City’s Fund Balance policy is to maintain an unassigned fund balance in the General Fund of an amount that is not less than 50 percent to 60 percent of the next year’s budgeted expenditures of the General Fund. • In the City’s business-type activities, revenues increased $7,923,777 (37.51 percent) and program expenses increased $1,253,836 (15.43 percent). These changes are discussed in greater detail throughout the following pages. • Total cost of all of the City’s governmental activities’ departments increased $2,762,617 (or 22.14 percent) in aggregate. • The City’s General Fund generated more revenue than budgeted of $2,281,861, excluding transfers in from other funds. Expenditures were less than budgeted by $97,040, excluding transfers to other funds. See additional details on page 64. USING THIS ANNUAL REPORT This annual report consists of a series of financial statements. The Statement of Net Position and the Statement of Activities (on pages 19 and 20) provide information about the activities of the City as a whole and present a longer-term view of the City’s finances. Fund financial statements start on page 21. For governmental activities, these statements tell how these services were financed in the short term as well as what remains for future spending. Fund financial statements also report the City’s operations in more detail than the government-wide statements by providing information about the City’s most significant funds. CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 9 USING THIS ANNUAL REPORT (Continued) Reporting the City as a Whole Our analysis of the City as a whole begins on page 10. One of the most important questions asked about the City’s finances is, “Is the City as a whole better off or worse off as a result of the year’s activities?” The Statement of Net Position and the Statement of Activities report information about the City as a whole and about its activities in a way that helps answer this question. These statements include all assets, deferred outflows/inflows of resources, and liabilities using the accrual basis of accounting, which is similar to the accounting used by most private-sector companies. All of the current year’s revenues and expenses are taken into account regardless of when cash is received or paid. These two statements report the City’s net position and changes in net position. You can think of the City’s net position (assets plus deferred outflows, less liabilities plus deferred inflows) as one way to measure the City’s financial health, or financial position. Over time, increases or decreases in the City’s net position are one indicator of whether its financial health is improving or deteriorating. You will need to consider other nonfinancial factors, however, such as changes in the City’s property tax base, costs associated with current and future construction projects, and the condition of the City’s roads, to assess the overall health of the City. In the Statement of Net Position and the Statement of Activities, we divide the City into two kinds of activities: • Governmental Activities - Most of the City’s basic services are reported here, including the police, fire, public works, parks, and planning and zoning departments, along with general administration. Property taxes, charges for services, and licenses, permits and fees finance most of these activities. • Business-type Activities - The City charges a fee to customers to help it cover all or most of the cost of certain services it provides. The City’s water, sewer, and storm sewer systems are reported here. Reporting the City’s Most Significant Funds Our analysis of the City’s funds begins on page 13. The fund financial statements begin on page 21 and provide detailed information about the most significant funds - not the City as a whole. Some funds are required to be established by State law and by bond covenants. However, the City Council may establish other funds to help it control and manage money for particular purposes or to show that it is meeting legal responsibilities for using certain taxes, grants, and other money. The City’s two kinds of funds (governmental and proprietary) use different accounting approaches. • Governmental Funds - Most of the City’s basic services are reported in governmental funds, which focus on how money flows into and out of those funds and the balances left at year-end that are available for spending. These funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted to cash. The governmental fund statements provide a detailed short-term view of the City’s general government operations and the basic services it provides. Governmental fund information helps you determine whether there are more or fewer financial resources that can be spent in the near future to finance the City’s programs. We describe the relationship (or differences) between governmental activities (reported in the Statement of Net Position and the Statement of Activities) and governmental funds in reconciliations following the governmental fund financial statements. • Proprietary Funds - When the City charges customers for the services it provides, these services are generally reported in proprietary funds. Proprietary funds are reported in the same way that all activities are reported in the Statement of Net Position and the Statement of Activities. In fact, the City’s proprietary funds are the same as the business-type activities we report in the government-wide statements but provide more detail and additional information, such as cash flows, for proprietary funds. CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 10 THE CITY AS A WHOLE The City’s combined net position increased $34,860,981 from a year ago. Our analysis below focuses on the net position (Table 1) and changes in net position (Table 2) of the City’s governmental and business-type activities. The net position of the City’s governmental activities increased by $15,524,001 (15.95 percent). Unrestricted net position (the part of net position that can be used to finance day-to-day operations without constraints established by debt covenants, enabling legislation, or other legal requirements) increased by $359,736 compared to the prior year. The net position of the City’s business-type activities increased by $19,336,980 (18.30 percent) from the prior year. Such increase can be attributed primarily to the capital contributions of infrastructure assets that were received from private developers during the year. Table 1 Net Position Governmental Business-Type Total Activities Activities Government 2025 2024 2025 2024 2025 2024 Current and Other Assets 41,244,886$ 34,849,746$ 28,776,311$ 24,775,850$ 70,021,197$ 59,625,596$ Net Capital Assets 121,001,271 104,806,610 122,909,527 110,083,564 243,910,798 214,890,174 Total Assets 162,246,157 139,656,356 151,685,838 134,859,414 313,931,995 274,515,770 Deferred Outflows of Resources 1,408,924 1,209,375 78,773 73,516 1,487,697 1,282,891 Current Liabilities 12,867,222 4,890,355 1,492,302 1,443,233 14,359,524 6,333,588 Noncurrent Liabilities 35,040,472 35,907,834 25,136,245 27,665,367 60,176,717 63,573,201 Total Liabilities 47,907,694 40,798,189 26,628,547 29,108,600 74,536,241 69,906,789 Deferred Inflows of Resources 2,864,793 2,708,949 130,161 155,407 2,994,954 2,864,356 Net Position: Net Investment in Capital Assets 87,686,507 71,683,376 98,091,690 82,708,847 185,778,197 154,392,223 Restricted 15,146,695 15,985,561 - - 15,146,695 15,985,561 Unrestricted 10,049,392 9,689,656 26,914,213 22,960,076 36,963,605 32,649,732 Total Net Position 112,882,594$ 97,358,593$ 125,005,903$ 105,668,923$ 237,888,497$ 203,027,516$ CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 11 THE CITY AS A WHOLE (Continued) The City’s total revenues increased by $6,586,596 (12.47 percent). The total cost of all programs and services increased by $4,016,453 (19.49 percent). Our following analysis separately considers the operations of governmental and business-type activities. Table 2 Changes in Net Position Governmental Business-Type Total Activities Activities Government 2025 2024 2025 2024 2025 2024 REVENUE Charges for Services 3,656,528$ 3,109,811$ 3,941,958$ 3,072,782$ 7,598,486$ 6,182,593$ Operating Grants and Contributions 647,890 542,462 - 100,000 647,890 642,462 Capital Grants and Contributions 14,079,256 17,900,192 24,261,293 17,238,838 38,340,549 35,139,030 Property Taxes 9,956,835 8,905,064 - - 9,956,835 8,905,064 Franchise Fees 374,335 86,955 - - 374,335 86,955 Intergovernmental 33,853 102,914 221 10,470 34,074 113,384 Investment Earnings (Losses)1,591,090 1,050,711 846,611 704,216 2,437,701 1,754,927 Other 29,220 8,079 - - 29,220 8,079 Total Revenues 30,369,007 31,706,188 29,050,083 21,126,306 59,419,090 52,832,494 PROGRAM EXPENSES General Government 2,008,193 1,513,163 - - 2,008,193 1,513,163 Public Safety 5,186,570 3,853,006 - - 5,186,570 3,853,006 Public Works 6,880,833 5,376,826 - - 6,880,833 5,376,826 Parks and Recreation 280,702 848,199 - - 280,702 848,199 Economic Development 2,382 7,074 - - 2,382 7,074 Interest and Other Charges 884,075 881,870 - - 884,075 881,870 Water - - 4,666,700 3,946,949 4,666,700 3,946,949 Sewer - - 3,255,756 2,996,505 3,255,756 2,996,505 Storm Sewer - - 1,459,898 1,185,064 1,459,898 1,185,064 Total Expenses 15,242,755 12,480,138 9,382,354 8,128,518 24,625,109 20,608,656 Increase (Decrease) in Net Position Before Transfers/Other Items 15,126,252 19,226,050 19,667,729 12,997,788 34,793,981 32,223,838 Gain (Loss) on Disposal of Assets 67,000 108,120 - - 67,000 108,120 Transfers 330,749 - (330,749) - - - Change in Net Position 15,524,001 19,334,170 19,336,980 12,997,788 34,860,981 32,331,958 Net Position - Beginning of Year 97,358,593 78,024,423 105,668,923 92,671,135 203,027,516 170,695,558 Net Position - End of Year 112,882,594$ 97,358,593$ 125,005,903$ 105,668,923$ 237,888,497$ 203,027,516$ CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 12 THE CITY AS A WHOLE (Continued) Governmental Activities Revenue for the City’s governmental activities decreased by $1,337,181 (4.22 percent). This decrease in revenue is primarily due to a decrease in capital grants and contributions, resulting from significant contributions of infrastructure from developers during 2024. Total expenses increased $2,762,617 (22.14 percent), primarily due to increased expenses for public safety and public works costs. Such changes in expenses are reviewed in greater detail below. Table 3 presents the cost of each of the City’s programs - general government, public safety, public works, parks and recreation, economic development, and Interest and Other Charges - as well as each program’s net cost (total cost less revenues generated by the activities). The net cost shows the financial burden that was placed on the City’s taxpayers by each of these functions. Activities (net of capital outlay which is excluded from Table 3) were generally comparable to the prior year as operations remained fairly consistent with the prior year, with the exception of: • Public safety net cost of services increased $351,536 primarily due to an increase in personnel costs and building inspection costs. • Public works net cost of services increased $5,342,853 primarily due to an increase in street maintenance expenditures, along with a decrease in revenues recognized from contributed infrastructure previously discussed. Table 3 Governmental Activities Total Cost Net Cost of Services of Services 2025 2024 2025 2024 General Government 2,008,193$ 1,513,163$ 1,581,960$ 1,040,302$ Public Safety 5,186,570 3,853,006 2,516,224 2,164,688 Public Works 6,880,833 5,376,826 (7,491,867) (12,834,720) Parks and Recreation 280,702 848,199 (487,299) (282,730) Economic Development 2,382 7,074 (144,012) (41,737) Interest and Other Charges 884,075 881,870 884,075 881,870 Totals 15,242,755$ 12,480,138$ (3,140,919)$ (9,072,327)$ Business-type Activities Revenues of the City’s business-type activities (see Table 2) increased by $7,923,777 (37.51 percent) and program expenses increased by $1,253,836 (15.43 percent). The increase in revenues is due primarily to an increase in contributions of infrastructure from developers during 2025. Additionally, revenues from water and sewer access fees also increased significantly from those of the prior year. The increase in expenses is due largely to an increase in depreciation expense being recognized in 2025, due to various projects being finalized and placed into service. CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 13 THE CITY’S FUNDS Governmental Funds As the City completed the year, its governmental funds (as presented in the balance sheet on page 21) reported a combined fund balance of $23,110,851. This is a decrease of $1,270,207 from the prior year. Operations were comparable to the prior year, with the exception of an increase in property taxes along with a decrease in state grants. Additionally, the City experienced an increase in capital outlay expenditures related to the ballfield project and various street projects in the current year. Financial information specific to the governmental funds is detailed on the following page. Such information was derived from the fund financials. Increase 2025 2024 (Decrease) General 12,605,632$ 10,324,572$ 2,281,060$ Fund Balance December 31, Major Funds The fund balance of the General Fund increased by $2,281,060 compared to 2024. Details of the General Fund’s revenues and expenditures are displayed below: General Fund Revenues The City received the majority of its funding in the General Fund in the form of grants and funding received from property taxes (53.71 percent), licenses, permits, and fees (16.71 percent), charges for services (11.70 percent), and interest earnings (8.63 percent). Overall, the City’s General Fund revenues were comparable to the prior year, with the exception of increases in licenses, permits, and fees, as well as investment earnings. CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 14 THE CITY’S FUNDS (Continued) General Fund Expenditures General Government Public Safety Public Works Parks and Recreation A significant portion of the City’s General Fund expenditures are used for public safety (56.59 percent). Remaining expenditures are used primarily for general government (22.67 percent), public works (14.69 percent), and parks and recreation (6.05 percent). Expenditures are comparable to the prior year, with the exception of an increase in public safety expenditures due to increased personnel and building inspection costs. Increase 2025 2024 (Decrease) Fund Balance December 31, Major Funds Debt Service 6,120,873$ 5,678,193$ 442,680$ The Debt Service fund balance increased as a result of an increase in property tax and investment earnings revenue, which exceeded the principal and interest payments. Ballfield (1,927,723)$ -$ (1,927,723)$ The Ballfield fund balance decreased due to the capital expenditures to-date for the Ballfield Improvements project exceeding the transfers in from other funds to finance the project. CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 15 THE CITY’S FUNDS (Continued) General Fund Budgetary Highlights The City’s General Fund generated more revenue than budgeted by $2,281,861, excluding transfers in from other funds. Revenues in excess of budgeted amounts were primarily the result of the City collecting more investment income, state aid, and charges for services than were anticipated. Expenditures were less than those budgeted by $97,040, excluding transfers to other funds. Expenditure deviations were mostly distributed across departments but resulted most significantly from parks and recreation expenditures being less than anticipated. Proprietary Funds As the City completed the year, its business-type activities reported a combined net position of $125,005,903. This is an increase of $19,336,980 from the prior year. The following is a summary of the City’s major proprietary funds: Increase 2025 2024 (Decrease) Water 63,025,555$ 56,335,050$ 6,690,505$ Net Position December 31, Major Funds The Water Fund net position increased due to an increase in connection fees, as well as revenues being recognized in relation to infrastructure assets conveyed to the City by local developers, $4,111,874 of which was recognized in this fund. Sewer 38,174,061$ 31,014,704$ 7,159,357$ The Sewer Fund net position increased due to the City receiving developer contributed infrastructure during the year, $4,655,034 of which was recognized in this fund. Connection fees in the Sewer Fund also increased $1,024,100 from that of the prior year. Storm Sewer 23,806,287$ 18,319,169$ 5,487,118$ The Storm Sewer Fund net position increased due to the City receiving developer contributed infrastructure during the year, $6,193,185 of which was recognized in this fund. CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 16 CAPITAL ASSET AND DEBT ADMINISTRATION Capital Assets At the end of 2025, the City had a net investment of $243,910,798 in a broad range of capital assets, including land, buildings, improvements, machinery and equipment, IT subscriptions, roads, and water, sewer, and storm sewer infrastructure. This amount represents a net increase of $29,020,624 (13.50 percent) from last year. More detailed information about the City’s capital assets is presented in Note 2.C. to the financial statements. Significant capital asset activity from throughout the year included the following: • 76 acre land purchase exceeded $2.9 million in total. • Developer contributions of infrastructure exceeded $28.2 million in total. • Costs incurred during the year for the 2025 Street & Utility Improvements project exceeded $1.8 million. • Costs incurred during the year for the Stillwater Area School District Utility Improvements project exceeded $1.3 million. • Costs incurred during the year for the Well #2 Construction project exceeded $1.6 million. • Costs incurred during the year for the I-94 Lift Station Force Main Improvements project exceeded $1.3 million. 2025 2024 2025 2024 2025 2024 Land 6,400,256$ 3,453,979$ 3,668,869$ 3,668,869$ 10,069,125$ 7,122,848$ Construction In Progress 7,257,055 2,858,374 2,010,235 611,693 9,267,290 3,470,067 Buildings 17,151,624 17,538,068 - - 17,151,624 17,538,068 Other Improvements 2,784,573 2,670,737 - - 2,784,573 2,670,737 Machinery and Equipment 7,006,628 7,239,442 797,848 765,746 7,804,476 8,005,188 Infrastructure 80,401,135 71,046,010 116,367,262 104,953,716 196,768,397 175,999,726 IT Subscription - - 65,313 83,540 65,313 83,540 Totals 121,001,271$ 104,806,610$ 122,909,527$ 110,083,564$ 243,910,798$ 214,890,174$ Table 4 Capital Assets Net of Depreciation and Amortization Governmental Activities Business-Type Activities Totals CITY OF LAKE ELMO, MINNESOTA MANAGEMENT’S DISCUSSION AND ANALYSIS DECEMBER 31, 2025 17 CAPITAL ASSET AND DEBT ADMINISTRATION (Continued) Debt At year-end, the City had $58,323,531 in gross debt versus $61,824,107 last year (a decrease of 5.66 percent), as shown in Table 5. See additional information regarding these issuances in Note 2.D. to the financial statements. 2025 2024 2025 2024 2025 2024 G.O. Improvement Bonds 30,790,000$ 31,535,000$ 23,885,000$ 26,270,000$ 54,675,000$ 57,805,000$ G.O. Equipment Certificates 340,000 450,000 - - 340,000 450,000 G.O. Tax Abatement Bonds 845,000 930,000 - - 845,000 930,000 Unamortized Bond Premium 1,496,535 1,534,390 918,450 1,016,299 2,414,985 2,550,689 Subscription Liabilities - - 48,546 88,418 48,546 88,418 Totals 33,471,535$ 34,449,390$ 24,851,996$ 27,374,717$ 58,323,531$ 61,824,107$ Table 5 Outstanding Debt at Year-End Governmental Activities Business-Type Activities Totals ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND RATES • An update to the City’s long-range financial management plan was completed in 2023 and now includes planned capital expenses such as roads and equipment for a 10-year period. The City is projected to have small annual increases in its tax rate over the next 10-year period while still meeting current service needs, adding staff to meet the needs of a growing community, and funding capital needs while maintaining a fund balance above the City’s policy of 50-60 percent of next year’s expenses. • The City’s Long-Range Financial Management Plan for utilities was updated in early 2026. For 2026, water rates increased 20 percent, sewer rates increased 15 percent, and stormwater rates increased 8 percent. • Market interest rates on investments have fallen slightly in 2025 and 2026. The City is holding various investments that were purchased prior to 2022 that have lower rates of return due to the aforementioned increases. As a result, these investments have some unrealized losses that would only be recognized if the City had to sell them before maturity. The City has sufficient cash and does not anticipate selling before maturity. • The City is currently exploring sites for two new wells. These wells will need a treatment plant for PFAS which are planned to be funded by 3M settlement dollars via MPCA grants. These efforts are likely to take two to three years to complete. Previously expected funding for trunk main extensions have since been discontinued, which slowed the growth of the water and sewer funds. • With its proximity to Minneapolis/St. Paul downtown area, easy access from a number of state highways, exceptional recreational offerings and low tax rate, Lake Elmo remains an attractive area for new residents and businesses. The City is seeing an increase in development interest for multi-family housing as well as from commercial and business/industrial developers. There remain hundreds of acres available for development in both the downtown area as well as along the I-94 corridor. The Stillwater Area School District (ISD 834) will be opening the new Elementary School in 2026 and the expansion of the existing Middle School in Lake Elmo was completed, increasing the student capacity at both schools and providing improved facilities. CONTACTING THE CITY’S FINANCIAL MANAGEMENT This financial report is designed to provide our citizens, taxpayers, customers, and investors and creditors with a general overview of the City’s finances and to show the City’s accountability for the money it receives. If you have questions about this report or need additional financial information, contact City Hall at 3880 Laverne Avenue North, Lake Elmo, Minnesota 55042. 18 BASIC FINANCIAL STATEMENTS CITY OF LAKE ELMO, MINNESOTA STATEMENT OF NET POSITION DECEMBER 31, 2025 See accompanying notes. 19 Governmental Activities Business-Type Activities Totals ASSETS Cash, Cash Equivalents, and Investments 37,108,563$ 20,956,916$ 58,065,479$ Property Taxes Receivable 78,296 - 78,296 Assessments Receivable 3,672,804 4,441,693 8,114,497 Accounts Receivable 156,663 948,857 1,105,520 Interest Receivable 119,024 63,020 182,044 Internal Balances (2,000,000) 2,000,000 - Due from Other Governments 8,927 365,825 374,752 Leases Receivable 1,537,234 - 1,537,234 Capital Assets Not Being Depreciated/Amortized 13,657,311 5,679,104 19,336,415 Capital Assets Being Depreciated/Amortized (Net) 107,343,960 117,230,423 224,574,383 Net Pension Asset 563,375 - 563,375 TOTAL ASSETS 162,246,157 151,685,838 313,931,995 DEFERRED OUTFLOWS OF RESOURCES Pensions 1,408,924 78,773 1,487,697 LIABILITIES Accounts Payable 561,617 490,987 1,052,604 Salaries Payable 100,240 38,271 138,511 Construction Contracts Payable 265,983 65,794 331,777 Deposits Payable 11,201,836 4,788 11,206,624 Due to Other Governments - 23,033 23,033 Payroll Deductions and Employer Contributions 55,158 - 55,158 Unearned Revenue 250,000 575,000 825,000 Accrued Interest Payable 432,388 294,429 726,817 Compensated Absences Payable: Due Within One Year 221,615 52,887 274,502 Due After One Year 73,872 17,629 91,501 Bonds and Subscriptions: Due Within One Year 3,190,000 2,449,301 5,639,301 Due After One Year 30,281,535 22,402,695 52,684,230 Net OPEB Liability: Due After One Year 49,679 17,819 67,498 Net Pension Liability: Due After One Year 1,223,771 195,914 1,419,685 TOTAL LIABILITIES 47,907,694 26,628,547 74,536,241 DEFERRED INFLOWS OF RESOURCES Pensions 1,489,742 130,161 1,619,903 Leases 1,375,051 - 1,375,051 TOTAL DEFERRED INFLOWS OF RESOURCES 2,864,793 130,161 2,994,954 NET POSITION Net Investment in Capital Assets 87,686,507 98,091,690 185,778,197 Restricted for: Debt Service 9,270,974 - 9,270,974 Lawful Gambling Purposes 7,215 - 7,215 Park Dedication 2,664,799 - 2,664,799 Heritage Farms Street & Utility Improvements 247,465 - 247,465 City Hall / Fire Station Bldg Project 1,500,015 - 1,500,015 Tamarack Farm Estates Street Improvements 134,883 - 134,883 Other Street & Utility Improvements 1,321,344 - 1,321,344 Unrestricted 10,049,392 26,914,213 36,963,605 TOTAL NET POSITION 112,882,594$ 125,005,903$ 237,888,497$ CITY OF LAKE ELMO, MINNESOTA STATEMENT OF ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2025 See accompanying notes. 20 Operating Capital Charges for Grants and Grants and Governmental Business-Type Expenses Services Contributions Contributions Activities Activities Total Governmental Activities: General Government 2,008,193$ 352,805$ 73,428$ -$ (1,581,960)$ -$ (1,581,960)$ Public Safety 5,186,570 2,551,512 118,834 - (2,516,224) - (2,516,224) Public Works 6,880,833 38,020 255,424 14,079,256 7,491,867 - 7,491,867 Parks and Recreation 280,702 714,191 53,810 - 487,299 - 487,299 Economic Development 2,382 - 146,394 - 144,012 - 144,012 Interest and Other Charges 884,075 - - - (884,075) - (884,075) Total Governmental Activities 15,242,755 3,656,528 647,890 14,079,256 3,140,919 - 3,140,919 Business-Type Activities: Water 4,666,700 2,114,990 - 9,317,090 - 6,765,380 6,765,380 Sewer 3,255,756 1,142,721 - 8,750,857 - 6,637,822 6,637,822 Storm Sewer 1,459,898 684,247 - 6,193,346 - 5,417,695 5,417,695 Total Business-Type Activities 9,382,354 3,941,958 - 24,261,293 - 18,820,897 18,820,897 TOTALS 24,625,109$ 7,598,486$ 647,890$ 38,340,549$ 3,140,919 18,820,897 21,961,816 General Revenues: Property Taxes 9,956,835 - 9,956,835 Franchise Fees 374,335 - 374,335 Intergovernmental 33,853 221 34,074 Investment Earnings (Losses)1,591,090 846,611 2,437,701 Gain (Loss) on Sale of Assets 67,000 - 67,000 Miscellaneous 29,220 - 29,220 Total General Revenues 12,052,333 846,832 12,899,165 Transfers 330,749 (330,749) - Total General Revenues and Transfers 12,383,082 516,083 12,899,165 CHANGE IN NET POSITION 15,524,001 19,336,980 34,860,981 NET POSITION - BEGINNING OF YEAR 97,358,593 105,668,923 203,027,516 NET POSITION - END OF YEAR 112,882,594$ 125,005,903$ 237,888,497$ Functions/Programs Program Revenues Net (Expense) Revenue and Changes in Net Position Primary Government CITY OF LAKE ELMO, MINNESOTA BALANCE SHEET GOVERNMENTAL FUNDS DECEMBER 31, 2025 See accompanying notes. 21 Capital Project General Fund Debt Service Fund Ballfield Fund Total Nonmajor Governmental Funds Total Governmental Funds ASSETS Cash, Cash Equivalents, and Investments 21,462,653$ 6,098,692$ 70,757$ 9,476,461$ 37,108,563$ Property Taxes Receivable 78,296 - - - 78,296 Assessments Receivable 66,113 3,587,622 - 19,069 3,672,804 Accounts Receivable 9,769 - - 146,894 156,663 Interest Receivable 67,344 17,048 1,520 33,112 119,024 Due from Other Governments 8,927 - - - 8,927 Due from Other Funds 2,568,487 - - - 2,568,487 Leases Receivable 1,537,234 - - - 1,537,234 TOTAL ASSETS 25,798,823$ 9,703,362$ 72,277$ 9,675,536$ 45,249,998$ LIABILITIES Accounts Payable 301,689$ -$ -$ 259,928$ 561,617$ Salaries Payable 100,240 - - - 100,240 Payroll Deductions and Employer Contributions 55,158 - - - 55,158 Construction Contracts Payable - - - 265,983 265,983 Deposits Payable 11,201,836 - - - 11,201,836 Due to Other Funds - - - 2,568,487 2,568,487 Unearned Revenue - - - 250,000 250,000 Advances from Other Funds - - 2,000,000 - 2,000,000 Total Liabilities 11,658,923 - 2,000,000 3,344,398 17,003,321 DEFERRED INFLOWS OF RESOURCES Unavailable Revenue: Property Taxes 93,104 - - - 93,104 Special Assessments 66,113 3,582,489 - 19,069 3,667,671 Leases 1,375,051 - - - 1,375,051 Total Deferred Inflows of Resources 1,534,268 3,582,489 - 19,069 5,135,826 FUND BALANCES Nonspendable 162,183 - - - 162,183 Restricted - 6,120,873 - 5,875,721 11,996,594 Committed - - - 37,322 37,322 Assigned - - - 3,198,041 3,198,041 Unassigned 12,443,449 - (1,927,723) (2,799,015) 7,716,711 Total Fund Balances 12,605,632 6,120,873 (1,927,723) 6,312,069 23,110,851 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 25,798,823$ 9,703,362$ 72,277$ 9,675,536$ 45,249,998$ CITY OF LAKE ELMO, MINNESOTA RECONCILIATION OF THE BALANCE SHEET – GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION DECEMBER 31, 2025 See accompanying notes. 22 Total Fund Balances - Governmental Funds 23,110,851$ Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in governmental activities are not current financial resources and, therefore, are not reported as assets in the governmental funds: Capital Assets 151,214,664$ Accumulated Depreciation (30,213,393) Capital Assets (Net) 121,001,271 Long-term liabilities are not due and payable in the current period and, therefore, are not reported as liabilities in the governmental funds Balance Sheet: Bond Principal Payable (31,975,000) Bond Premium, Net of Accumulated Amortization (1,496,535) Compensated Absences (295,487) (33,767,022) The net OPEB liability represents the present value of projected unfunded future postemployment benefits other than pensions, as determined by an actuary as of the most recent measurement date. Such liability and related balances do not represent the impending use of current financial resources and, therefore, are not reported in the governmental funds: Net OPEB Liability (49,679) The net pension asset/liability and related deferred outflows/inflows represent the allocation of pension obligations to the City. Such balances are not reported in the governmental funds: Net Pension Asset 563,375 Net Pension Liability (1,223,771) Deferred Outflows - Pensions 1,408,924 Deferred Inflows - Pensions (1,489,742) (741,214) Interest on long-term debt is recognized as an expenditure when due and payable in the governmental funds. Therefore, interest is not accrued in the governmental funds Balance Sheet, but is accrued in the Statement of Net Position:(432,388) Other long-term assets are not available to pay for current-period expenditures and, therefore, are reported as unavailable in the governmental funds: Property Taxes Receivable 93,104 Special Assessments Receivable 3,667,671 3,760,775 TOTAL NET POSITION OF GOVERNMENTAL ACTIVITIES 112,882,594$ CITY OF LAKE ELMO, MINNESOTA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 See accompanying notes. 23 Capital Project General Fund Debt Service Fund Ballfield Fund 2024 Street & Utility Improvement Fund Hudson Blvd Imp- Seg A-InwdHdrx Fund Total Nonmajor Governmental Funds Total Governmental Funds REVENUES Property Taxes 5,424,723$ 3,251,727$ -$ 1,243,333$ 9,919,783$ Franchise Fees 85,459 - - 288,876 374,335 Special Assessments - 953,319 - 1,130 954,449 Licenses, Permits, and Fees 1,687,800 - - - 1,687,800 Intergovernmental 673,737 - - 20,333 694,070 Charges for Services 1,181,734 - - 714,191 1,895,925 Fines 66,081 - - - 66,081 Investment Earnings (Losses)871,385 225,416 18,555 413,222 1,528,578 Lease Interest 62,512 - - - 62,512 Miscellaneous 47,403 - - 21,619 69,022 TOTAL REVENUES 10,100,834 4,430,462 18,555 2,702,704 17,252,555 EXPENDITURES Current: General Government 1,768,061 - - - 1,768,061 Public Safety 4,414,133 - - 9,244 4,423,377 Public Works 1,146,286 - - 4,487 1,150,773 Parks and Recreation 472,294 - - 192,540 664,834 Economic Development - 2,354 - 28 2,382 Capital Outlay - - 2,946,278 6,106,278 9,052,556 Debt Service: Principal - 2,965,000 - - 2,965,000 Interest and Other Charges - 1,020,428 - 44,926 1,065,354 TOTAL EXPENDITURES 7,800,774 3,987,782 2,946,278 6,357,503 21,092,337 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 2,300,060 442,680 (2,927,723) (3,654,799) (3,839,782) Formerly Major Funds CITY OF LAKE ELMO, MINNESOTA STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (Continued) GOVERNMENTAL FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 See accompanying notes. 24 OTHER FINANCING SOURCES (USES) Sale of Assets -$ -$ -$ 67,000$ 67,000$ Bond Issuance - - - 2,025,000 2,025,000 Premium on Bond Issuance - - - 146,826 146,826 Transfers In - - 1,000,000 1,349,749 2,349,749 Transfers Out (19,000) - - (2,000,000) (2,019,000) TOTAL OTHER FINANCING SOURCES (USES)(19,000) - 1,000,000 1,588,575 2,569,575 NET CHANGE IN FUND BALANCES 2,281,060 442,680 (1,927,723) (2,066,224) (1,270,207) FUND BALANCES - BEGINNING 10,324,572 5,678,193 - 368,438$ 1,219,181$ 6,790,674 24,381,058 (As Previously Reported) ADJUSTMENTS AND RESTATEMENTS Adjustment - Change in Major Funds - - - (368,438) (1,219,181) 1,587,619 - FUND BALANCES - BEGINNING 10,324,572 5,678,193 - - - 8,378,293 24,381,058 (As Adjusted) FUND BALANCES - ENDING 12,605,632$ 6,120,873$ (1,927,723)$ -$ -$ 6,312,069$ 23,110,851$ Capital Project General Fund Debt Service Fund Ballfield Fund 2024 Street & Utility Improvement Fund Hudson Blvd Imp- Seg A-InwdHdrx Fund Total Nonmajor Governmental Funds Total Governmental Funds Formerly Major Funds CITY OF LAKE ELMO, MINNESOTA RECONCILIATION OF CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2025 See accompanying notes. 25 Net Change in Fund Balances - Total Governmental Funds (1,270,207)$ Amounts reported for governmental activities in the Statement of Activities are different due to the following: Capital outlays are reported in the governmental funds as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over the estimated useful lives as depreciation expense: Capital Outlay Capitalized - Capital Assets 8,506,988$ Depreciation Expense (5,596,157) Capital Assets Acquired via Developers 13,283,830 16,194,661 The issuance of long-term debt provides current financial resources to governmental funds while the repayment of principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums and discounts when debt is first issued, whereas these amounts are deferred and amortized in the Statement of Activities. The amounts below detail the effects of these differences in the treatment of long-term debt and related items: Bond Principal Repayments 2,965,000 Bond Issuance (2,025,000) Premium on Bond Issuance (146,826) Amortization of Bond Premium 184,681 977,855 Interest on long-term debt in the Statement of Activities differs from the amounts reported in the governmental funds because interest is recognized as an expenditure in the funds only when it is due. In the Statement of Activities, however, interest expense is recognized as the interest accrues, regardless of when it is due: (3,402) Under the modified accrual basis of accounting, certain revenues cannot be recognized until they are available to liquidate liabilities of the current period: Property Taxes 37,052 Special Assessments (179,356) (142,304) Some expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds: Compensated Absences (104,290) Certain liabilities do not represent the impending use of current resources. Therefore, the change in such liabilities and related deferrals are not reported in the governmental funds: Net OPEB Liability and Deferred Outflows/Inflows of Resources (2,503) Net Pension Asset/Liability and Deferred Outflows/Inflows of Resources (125,809) (128,312) CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES 15,524,001$ CITY OF LAKE ELMO, MINNESOTA STATEMENT OF NET POSITION PROPRIETARY FUNDS DECEMBER 31, 2025 See accompanying notes. 26 Water Fund Sewer Fund Storm Sewer Fund Totals ASSETS Current Assets: Cash and Cash Equivalents 7,359,360$ 12,243,151$ 1,354,405$ 20,956,916$ Assessments Receivable 61,433 315,423 21,804 398,660 Accounts Receivable 317,308 298,333 333,216 948,857 Interest Receivable 19,253 38,589 5,178 63,020 Due from Other Governments 365,825 - - 365,825 Total Current Assets 8,123,179 12,895,496 1,714,603 22,733,278 Noncurrent Assets: Capital Assets Not Being Depreciated/Amortized 3,967,748 1,411,334 300,022 5,679,104 Capital Assets Being Depreciated/Amortized (Net)63,093,671 30,462,574 23,674,178 117,230,423 Assessments Receivable 348,330 3,693,607 1,096 4,043,033 Advances to Other Funds - 2,000,000 - 2,000,000 Total Noncurrent Assets 67,409,749 37,567,515 23,975,296 128,952,560 TOTAL ASSETS 75,532,928 50,463,011 25,689,899 151,685,838 DEFERRED OUTFLOWS OF RESOURCES Pensions 46,144 20,554 12,075 78,773 LIABILITIES Current Liabilities: Accounts Payable 376,829 100,508 13,650 490,987 Salaries Payable 15,548 10,366 12,357 38,271 Construction Contracts Payable - 65,794 - 65,794 Deposits Payable 4,788 - - 4,788 Due to Other Governments - 23,033 - 23,033 Unearned Revenue 575,000 - - 575,000 Accrued Interest 131,758 146,101 16,570 294,429 Compensated Absences 32,306 13,474 7,107 52,887 Bonds and Subscriptions Due Within One Year 1,249,301 975,000 225,000 2,449,301 Total Current Liabilities 2,385,530 1,334,276 274,684 3,994,490 Noncurrent Liabilities: Compensated Absences 10,769 4,491 2,369 17,629 Bonds and Subscriptions Due After One Year 9,950,945 10,883,728 1,568,022 22,402,695 Net OPEB Liability 11,677 3,982 2,160 17,819 Net Pension Liability 116,918 49,885 29,111 195,914 Total Noncurrent Liabilities 10,090,309 10,942,086 1,601,662 22,634,057 TOTAL LIABILITIES 12,475,839 12,276,362 1,876,346 26,628,547 DEFERRED INFLOWS OF RESOURCES Pensions 77,678 33,142 19,341 130,161 NET POSITION Net Investment in Capital Assets 55,861,173 20,049,339 22,181,178 98,091,690 Unrestricted 7,164,382 18,124,722 1,625,109 26,914,213 TOTAL NET POSITION 63,025,555$ 38,174,061$ 23,806,287$ 125,005,903$ CITY OF LAKE ELMO, MINNESOTA STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION PROPRIETARY FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 See accompanying notes. 27 Water Fund Sewer Fund Storm Sewer Fund Totals OPERATING REVENUES Charges for Services 2,055,993$ 1,125,450$ 647,504$ 3,828,947$ OPERATING EXPENSES Wages and Benefits 386,194 243,284 160,393 789,871 Materials and Supplies 46,528 20,707 13,319 80,554 Repairs and Maintenance 120,833 40,486 26,827 188,146 Professional Services 149,137 85,675 84,205 319,017 Insurance 25,212 15,953 4,112 45,277 Utilities 188,331 805,746 472 994,549 Miscellaneous 28,490 23,992 11,551 64,033 Depreciation and Amortization 3,413,106 1,722,736 1,127,793 6,263,635 TOTAL OPERATING EXPENSES 4,357,831 2,958,579 1,428,672 8,745,082 NET OPERATING INCOME (LOSS)(2,301,838) (1,833,129) (781,168) (4,916,135) NONOPERATING INCOME (EXPENSE) Intergovernmental 132 56 33 221 Investment Earnings (Losses)255,742 521,479 69,390 846,611 Miscellaneous 58,997 17,271 36,743 113,011 Interest and Other Charges (308,869) (297,177) (31,226) (637,272) TOTAL NONOPERATING INCOME (EXPENSE)6,002 241,629 74,940 322,571 CHANGE IN NET POSITION PRIOR TO CONTRIBUTIONS AND TRANSFERS (2,295,836) (1,591,500) (706,228) (4,593,564) CAPITAL CONTRIBUTIONS AND TRANSFERS Capital Contributions: Capital Contributions from Private Sources 4,111,874 4,655,034 6,193,185 14,960,093 Special Assessments 171,567 1,490,823 161 1,662,551 Intergovernmental 2,383,749 - - 2,383,749 Connection Fees 2,649,900 2,605,000 - 5,254,900 Operating Transfers Out (330,749) - - (330,749) TOTAL CAPITAL CONTRIBUTIONS AND TRANSFERS 8,986,341 8,750,857 6,193,346 23,930,544 CHANGE IN NET POSITION 6,690,505 7,159,357 5,487,118 19,336,980 NET POSITION - BEGINNING OF YEAR 56,335,050 31,014,704 18,319,169 105,668,923 NET POSITION - END OF YEAR 63,025,555$ 38,174,061$ 23,806,287$ 125,005,903$ CITY OF LAKE ELMO, MINNESOTA STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 See accompanying notes. 28 Water Fund Sewer Fund Storm Sewer Fund Totals CASH FLOWS FROM OPERATING ACTIVITIES Cash Received from Customers 2,012,240$ 1,029,673$ 638,124$ 3,680,037$ Cash Paid to Suppliers (616,179) (948,457) (128,362) (1,692,998) Cash Paid to Employees (413,473) (246,932) (158,040) (818,445) NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 982,588 (165,716) 351,722 1,168,594 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Taxes and Intergovernmental 132 56 33 221 Other Receipts from Customers 58,997 17,271 36,743 113,011 Net Operating Subsidies and Transfers from (to) Other Funds (330,749) - - (330,749) NET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVITIES (271,620) 17,327 36,776 (217,517) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Connection Fees 2,649,900 2,605,000 - 5,254,900 Special Assessments 248,139 1,963,556 22,863 2,234,558 Intergovernmental and Other 3,343,251 - - 3,343,251 Purchases of Capital Assets (2,414,109) (1,349,580) (300,022) (4,063,711) Issuance of Interfund Advances - (2,000,000) - (2,000,000) Payments on Bond Principal (1,215,000) (950,000) (220,000) (2,385,000) Payments on Subscription Liabilities (39,872) - - (39,872) Cash Paid for Interest and Other Charges (363,604) (360,850) (39,088) (763,542) NET CASH PROVIDED (USED) BY CAPITAL AND RELATED FINANCING ACTIVITIES 2,208,705 (91,874) (536,247) 1,580,584 CASH FLOWS FROM INVESTING ACTIVITIES Investment Income 253,909 525,253 69,405 848,567 Net Change in Cash and Cash Equivalents 3,173,582 284,990 (78,344) 3,380,228 Cash and Cash Equivalents - Beginning of Year 4,185,778 11,958,161 1,432,749 17,576,688 Cash and Cash Equivalents - End of Year 7,359,360$ 12,243,151$ 1,354,405$ 20,956,916$ CITY OF LAKE ELMO, MINNESOTA STATEMENT OF CASH FLOWS (Continued) PROPRIETARY FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 See accompanying notes. 29 Water Fund Sewer Fund Storm Sewer Fund Totals RECONCILIATION OF NET OPERATING INCOME (LOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES Net Operating Income (Loss)(2,301,838)$ (1,833,129)$ (781,168)$ (4,916,135)$ Adjustments to Reconcile Net Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities: Depreciation and Amortization Expense 3,413,106 1,722,736 1,127,793 6,263,635 Changes in Assets, Liabilities, and Deferrals: Special Assessments (32,339) (21,399) (21,655) (75,393) Accounts Receivable (16,202) (74,378) 12,275 (78,305) Due to Other Governments - (27,455) - (27,455) Deferred Outflows of Resources - Pensions (683) (2,001) (2,573) (5,257) Accounts Payable (57,648) 71,557 12,124 26,033 Salaries Payable 4,371 3,997 (38) 8,330 Deposits Payable 4,788 - - 4,788 Compensated Absences 11,103 5,342 2,407 18,852 Net OPEB Liability 2,605 118 280 3,003 Net Pension Liability (24,390) (5,707) 1,841 (28,256) Deferred Inflows of Resources - Pensions (20,285) (5,397) 436 (25,246) NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 982,588$ (165,716)$ 351,722$ 1,168,594$ SCHEDULE OF NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES Contribution of Capital Assets from Private Sources 4,111,874$ 4,655,034$ 6,193,185$ 14,960,093$ Change in Capital Assets Due To Changes in Related Payables -$ 65,794$ -$ 65,794$ CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 30 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the City of Lake Elmo (the City) have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) as applied to governmental units. GAAP includes all relevant Governmental Accounting Standards Board (GASB) pronouncements. The City has a mayor-council form of government that is governed by an elected mayor and four-member council. The City provides the following services: water, sewer, and storm sewer utilities, recreation, public improvements, public safety, planning and zoning, and general administrative services. 1.A. FINANCIAL REPORTING ENTITY The City’s financial reporting entity is comprised of the primary governmental unit of the City of Lake Elmo, Minnesota. In determining the financial reporting entity, the City complies with the provisions of GASB Statement No. 14, The Financial Reporting Entity, and includes all component units of which the City appointed a voting majority of the units’ board; the City is either able to impose its will on the unit or a financial benefit or burden relationship exists. Blended Component Units Blended component units are separate legal entities that meet the component unit criteria described above and whose governing body is the same or substantially the same as the City Council or the component unit provides services entirely to the City. These component units’ funds are blended into those of the City’s by appropriate activity type to compose the primary government presentation. Currently, the City has the following blended component unit: Economic Development Authority of the City of Lake Elmo The Economic Development Authority (EDA) of Lake Elmo is an entity legally separate from the City. The EDA provides services solely to the City of Lake Elmo and the City Council appoints the EDA’s board members. Therefore, the EDA has been reported as a blended component unit of the City. The EDA does not issue its own separate financial statements. The financial activity of the Authority is performed by the City of Lake Elmo and treated as routine City business. Discretely Presented Component Units Discretely presented component units are separate legal entities that meet the component unit criteria described above but do not meet the criteria for blending. Currently, the City has no discretely presented component units. Affiliated Organizations The Lake Elmo Firefighters Relief Association (the Association) is organized as a non-profit organization, legally separate from the City, to provide pension and other benefits to its members in accordance with Minnesota Statutes. Its board of directors is appointed by the membership of the Association and not by the City Council and the Association issues its own set of financial statements. All funding is conducted in accordance with applicable Minnesota Statutes, whereby State aids flow to the Association, and the Association pays benefits directly to its members. Because the Association is fiscally independent of the City, the financial statements of the Association have not been included within the City’s reporting entity. The City’s portion of the costs of the Association’s pension benefits is included in the general fund under public safety. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 31 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 1.B. BASIS OF PRESENTATION Government-wide Financial Statements The Statement of Net Position and Statement of Activities display information about the reporting government as a whole. They include all funds of the reporting entity except for fiduciary funds (of which the City has none). The statements distinguish between governmental and business-type activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange revenues. Business-type activities are financed in whole or in part by fees charged to external parties for goods and services. Fund Financial Statements Fund financial statements of the reporting entity are organized into funds, each of which is considered to be a separate accounting entity. Each fund is accounted for by providing a separate set of self-balancing accounts that constitute its assets, deferred outflows, liabilities, deferred inflows, fund equity, revenues, and expenditures/expenses. Funds are organized into two major categories: governmental and proprietary. An emphasis is placed on major funds within the governmental and proprietary categories. A fund is considered major if it is the primary operating fund of the City or meets the following criteria: • Total assets and deferred outflows, liabilities and deferred inflows, revenues, or expenditures/expenses of that individual governmental or proprietary fund are at least 10 percent of the corresponding total for all funds of that category or type; and • Total assets and deferred outflows, liabilities and deferred inflows, revenues, or expenditures/expenses of that individual governmental or proprietary fund are at least 5 percent of the corresponding total for all governmental and proprietary funds combined. The City reports the following major governmental funds: The General Fund is the primary operating fund of the City and is always classified as a major fund. It is used to account for all activities except those legally or administratively required to be accounted for in other funds. The Debt Service Fund accounts for the accumulation of financial resources for the payment of interest and principal on general long-term debt of the City other than debt service payments made by proprietary funds. Ad valorem taxes and special assessments are used for the payment of principal and interest on the City’s indebtedness. The Ballfield Fund is a capital project fund used to account for financial resources related to the ballfield improvement project that initiated in 2025. The City reports the following major proprietary funds: The Water Fund accounts for the activities of the City’s water distribution operations. The Sewer Fund accounts for revenues and costs associated with the City’s sewer system. The Storm Sewer Fund accounts for costs associated with the City’s storm sewer system. These costs are financed by the storm sewer surcharge. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 32 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 1.B. BASIS OF PRESENTATION (Continued) The City reports the following nonmajor governmental fund types: The Special Revenue Funds account for funds received by the City that are intended to be used for a specific purpose, other than debt service or capital projects. The Capital Project Funds account for financial resources to be used for the acquisition or construction of capital projects (other than those financed by proprietary funds). Changes in Financial Reporting Entity The following funds were reported as major funds in the prior year, but shifted to a nonmajor fund presentation during the year ended December 31, 2025: • 2024 Street & Utility Improvement Fund • Hudson Blvd Imp-Seg A-InwdHdrx Fund 1.C. MEASUREMENT FOCUS AND BASIS OF ACCOUNTING Measurement focus is a term used to describe “which” transactions are recorded within the various financial statements. Basis of accounting refers to “when” transactions are recorded regardless of the measurement focus applied. Measurement Focus On the government-wide Statement of Net Position and the Statement of Activities, both governmental and business-type activities are presented using the economic resources measurement focus as defined in the second bullet point below. In the fund financial statements, the current financial resources measurement focus or the economic resources measurement focus is used as appropriate: • All governmental funds utilize a current financial resources measurement focus. Only current financial assets and liabilities are generally included on their balance sheets. Their operating statements present sources and uses of available financial resources during a given period. These funds use fund balance as their measure of available financial resources at the end of the period. • The government-wide financial statements and proprietary funds utilize an economic resources measurement focus. The accounting objectives of this measurement focus are the determination of operating income, changes in net position (or cost recovery), financial position, and cash flows. All assets, deferred outflows, liabilities, and deferred inflows (whether current or noncurrent) associated with their activities are reported. Proprietary fund equity is classified as net position. Basis of Accounting In the government-wide Statement of Net Position and Statement of Activities, both governmental and business-type activities are presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred, or economic asset used. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 33 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 1.C. MEASUREMENT FOCUS AND BASIS OF ACCOUNTING (Continued) In the fund financial statements, governmental funds are presented on the modified accrual basis of accounting. Under this modified accrual basis of accounting, revenues are recognized when “measurable and available.” Measurable means knowing or being able to reasonably estimate the amount. Available means collectible within the current period or within sixty days after year end. Expenditures (including capital outlay) are recorded when the related fund liability is incurred, except for general obligation bond principal and interest which are reported when due. All proprietary funds utilize the accrual basis of accounting. 1.D. BUDGETARY INFORMATION Annual budgets are adopted on a basis consistent with generally accepted accounting principles for the General Fund and occasionally other funds. The appropriated budget is prepared by fund, function, and department. The City of Lake Elmo’s department heads may make transfers of appropriations within a department. Transfers of appropriations between departments require the approval of the Council. The legal level of budgetary control (i.e., the level at which expenditures may not legally exceed appropriations) is the department level. Appropriations in all budgeted funds lapse at the end of the fiscal year. Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of monies are recorded in order to reserve that portion of the appropriation, is not employed by the City because it is at present not considered necessary to assure effective budgetary control or to facilitate effective cash management. 1.E. USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, deferred outflows, liabilities, and deferred inflows, and disclosure of contingent assets and liabilities at the date of the financial statements. Estimates also affect reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 1.F. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND EQUITY Cash and Cash Equivalents For purposes of the Statement of Net Position, “cash, cash equivalents, and investments” includes all demand, savings, and money market savings accounts for the City, as well as certain investments discussed below. For the purpose of the proprietary fund Statement of Cash Flows, “cash and cash equivalents” include all demand, savings, money market savings accounts, and highly liquid investments. All investments allocated to the Proprietary Funds have original maturities of 90 days or less an d are therefore considered to be cash equivalents. Investments Investments are stated at their fair value as determined in accordance with the fair value hierarchy. Short-term investments are reported at amortized cost, provided that the fair value of those investments is not significantly affected by the impairment of the credit standing of the issuer or by other factors. Securities traded on a national or international exchange are valued at the last reported sales price at current exchange rates. Investments that do not have an established market are reported at estimated fair value. Certificates of deposit are stated at cost, plus accrued interest, which approximates fair market value. Net appreciation (depreciation) in fair value of investments includes net unrealized and realized gains and losses. Purchases and sales of securities are recorded on a trade-date basis. See Note 2.A. for additional information related to Cash, Cash Equivalents, and Investments. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 34 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 1.F. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND EQUITY (Continued) Interfund Receivables and Payables During the course of operations, transactions occur between individual funds that may result in amounts owed between funds. Those related to good and services type transactions are classified as “due to and from other funds.” Short-term interfund loans are reported as “due to and from other funds.” Long-term interfund loans are reported as “advances from and to other funds.” Interfund receivables and payables between funds within governmental activities, as well as interfund receivables and payables between funds within business-type activities, are eliminated in the Statement of Net Position. See Note 2.E. for details of interfund transactions, including receivables and payables at year-end. Prepaid Expenditures/Expenses Prepaids, if any, represent expenditures/expenses paid during the current year to be recognized in future periods. Receivables In the government-wide statements, receivables consist of all revenues earned at year-end and not yet received. Allowances for uncollectible accounts receivable are based upon historical trends and the periodic aging of accounts receivable and not deemed necessary at year end. Major receivable balances for the governmental activities include taxes, special assessments, and amounts due from other governments. Business-type activities report utility charges and assessments as their major receivables. In the fund financial statements, material receivables in governmental funds include revenue accruals such as taxes, assessments, other intergovernmental revenues, fines, and charges for services since they are usually both measurable and available. Revenues collectible but not available are deferred in the fund financial statements in accordance with the modified accrual basis, but are not deferred in the government-wide financial statements in accordance with the accrual basis. Interest and investment earnings are recorded when earned only if paid within 60 days since they would be considered both measurable and available. Proprietary fund material receivables consist of all revenues earned at year-end and not yet received. Utility accounts receivable and assessments compose the majority of proprietary fund receivables. Allowances for uncollectible accounts receivable are based upon historical trends and the periodic aging of accounts receivable. No allowances are deemed necessary at year end. Leases Receivable Lease receivables are determined based on future lease payments to be received under each corresponding lease agreement over the lease term, discounted using the interest rate applied to the leasing arrangement. If not defined in the lease agreement, implicit interest rates are determined based on the estimated incremental borrowing rate. Collections under the leasing arrangements are recorded as a reduction to the corresponding lease receivable, as well as lease interest revenues. Upon initial execution of lease, a corresponding deferred inflow of resources balance is recorded. This balance is amortized on a straight-line basis over the term of the lease, resulting in the recognition of lease revenues. Capital Assets The accounting treatment over property, plant, and equipment (capital assets) depends on whether the assets are used in governmental or proprietary fund operations and whether they are reported in the government-wide or fund financial statements. Capital assets, which include property, plant, equipment, infrastructure (e.g., roads, bridges, sidewalks, and similar items), and subscription-based assets are reported in the applicable governmental or business-type activities columns in the government- wide financial statements. Capital assets are defined by the City as assets with an initial individual cost of more than $25,000 and an estimated useful life in excess of one year. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 35 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 1.F. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND EQUITY (Continued) The range of estimated useful lives by type of asset is as follows: Buildings 10-50 years Other Improvements 10-20 years Machinery and Equipment 2-25 years Infrastructure 5-20 years Government-wide Statements In the government-wide financial statements, capital outlay expenditures are accounted for as capital assets. All capital assets are valued at historical cost or estimated historical cost if actual is unavailable, except for donated capital assets which are recorded at their estimated acquisition value at the date of donation. Depreciation and amortization of all exhaustible capital and subscription-based assets is recorded as an allocated expense in the Statement of Activities, with accumulated depreciation/amortization reflected in the Statement of Net Position. Depreciation/amortization is provided over the assets’ estimated useful lives using the straight-line method. Fund Financial Statements In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital outlay expenditures of the governmental fund upon acquisition. Capital assets used in proprietary fund operations are accounted for the same as in the government-wide statements. Accounts Payable Payables in the governmental and proprietary funds are composed almost entirely of payables to vendors. Compensated Absences The City recognizes a liability for compensated absences for leave time that (1) has been earned for services previously rendered by employees, (2) accumulates and is allowed to be carried over to subsequent years, and (3) is more likely than not to be used as time off or settled (paid) during or upon separation from employment. Based on the criteria, PTO, compensatory leave, and sick leave balances accumulated by City employees qualify for liability recognition as compensated absences. The liability for compensated absences is reported as incurred in the proprietary fund and government-wide financial statements. The liability for compensated absences includes salary-related benefits, where applicable. Long-Term Debt The accounting treatment of long-term debt and other long-term obligations depends on whether the liabilities pertain to governmental fund operations or proprietary fund operations and whether they are reported in the government-wide or fund financial statements. All long-term debt to be repaid from governmental and business-type resources are reported as liabilities in the government- wide statements. The long-term debt consists primarily of bonds payable, but also includes various other obligations. Long-term debt for governmental funds is not reported as liabilities in the fund financial statements. The debt proceeds are reported as other financing sources and payment of principal and interest are reported as expenditures. The accounting for proprietary funds is the same in the fund statements as it is in the government-wide statements. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 36 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 1.F. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND EQUITY (Continued) Postemployment Benefits Other Than Pensions (OPEB) Under the provisions of the various employee and union contracts, the City provides health insurance coverage for varying lengths of time if certain age and minimum years of service requirements are met. Net Pension Asset/Liability The net pension asset represents the Lake Elmo Firefighters Relief Association’s net pension asset as of the most recent actuarial measurement date. The net pension liability represents the City’s allocation of its pro-rata share of the net pension liabilities of the Statewide pension plans administered by the Public Employees Retirement Administration (PERA). PERA For purposes of measuring the net pension asset and liability, deferred outflows/inflows of resources, and pension expense, information about the fiduciary net position of the Public Employees Retirement Association (PERA) and additions to/deductions from PERA’s fiduciary net position have been determined on the same basis as they are reported by PERA. For this purpose, plan contributions are recognized as of employer payroll paid dates and benefit payments, and refunds are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. Deferred Outflows/Inflows of Resources In addition to assets, the Statements of Net Position report a separate section for deferred outflows of resources. This element represents a consumption of net position that applies to future periods and, therefore, will not be recognized as an outflow of resources (expense) until that time. The City reports deferred outflows of resources in the government-wide and proprietary fund Statements of Net Position in relation to the activity of the pension funds in which City employees participate. In addition to liabilities, the Statements of Net Position and Balance Sheet report a separate section for deferred inflows of resources. This element represents an acquisition of net position or fund balance that applies to future periods and, therefore, will not be recognized as an inflow of resources (revenue) until that time. A previously discussed, the City reports deferred inflows of resources in both the governmental fund Balance Sheet and the government-wide Statement of Net Position in relation to its leasing activities. The City also reports property taxes and special assessments as deferred inflows of resources in the governmental fund financial statements, in accordance with the modified accrual basis of accounting. Accordingly, such amounts are deferred and recognized as inflows of resources in the period that they become available. In addition, the City reports deferred inflows of resources in the government-wide and proprietary fund Statements of Net Position in relation to the activity of pension funds in which City employees participate. See Notes 3 and 4 for additional information pertaining to the deferred outflows and deferred inflows recorded to account for pension activities. Equity Classifications Government-wide Financial Statements Equity is classified as net position and displayed in three components: Net Investment in Capital Assets – Consists of capital assets including restricted capital assets, net of accumulated depreciation/amortization and reduced by the outstanding balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction, or improvement of those assets. Restricted – The portion of net position for which use is constrained by 1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments; or 2) law through constitutional provisions or enabling legislation. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 37 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 1.F. ASSETS, LIABILITIES, DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND EQUITY (Continued) Unrestricted – Remaining balance of net position that does not meet the definition of “restricted” or “net investment in capital assets.” It is the City’s policy to consider restricted net position to its depletion before unrestricted net position is applied. Governmental Fund Financial Statements In the fund financial statements, governmental funds report fund balances as either nonspendable, restricted, committed, assigned, or unassigned. When the City incurs an expenditure for which it may use either restricted or unrestricted fund balances, it uses restricted fund balances first unless unrestricted fund balances will have to be returned because they were not used. When the City incurs an expenditure for purposes for which amounts in any unrestricted fund balance classification could be used, it uses fund balances in the following order: Committed, assigned, unassigned. Nonspendable – Includes amounts that cannot be spent because they are either not in spendable form, or legally or contractually required to be maintained intact. The nonspendable fund balances at December 31, 2025 consist of leases receivables. Restricted – That portion of fund balance which is not available for appropriation, or which has been legally segregated for a specific purpose. Committed – Amounts that can only be used for specific purposes pursuant to constraints imposed by formal action (resolution) of the City Council, which is the highest level of decision-making authority. Committed amounts cannot be used for any other purpose unless the City Council modifies or rescinds the commitment by resolution. Assigned – Amounts that are constrained by the City’s intent to be used for specific purposes, but are neither restricted nor committed. The City Council has delegated the power to assign fund balances to the City Administrator and/or the Finance Director. Unassigned – This classification represents fund balance that has not been assigned to other funds and that has not been restricted, committed, or assigned to specific purposes within the General Fund. The City strives to maintain a minimum unassigned fund balance in the General Fund of an amount that is not less than 50 percent to 60 percent of the next year’s budgeted expenditures of the General Fund. See Note 2.F. for additional disclosures. Proprietary Fund Financial Statements Proprietary fund equity is classified the same as in the government-wide statements, as described previously. 1.G. REVENUES, EXPENDITURES, AND EXPENSES Property Tax Under state law, municipalities are limited in their ability to levy a property tax. The City levies its property tax for the subsequent year during the month of December. Washington County is the collecting agency for the levy and remits the collections to the City. In the fund financial statements, property taxes are recorded as revenue in the period levied to the extent they are collected within 60 days of year-end. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 38 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 1.G. REVENUES, EXPENDITURES, AND EXPENSES (Continued) The City certifies its levy to the County each year in December, for collection the following year. The County creates the tax list for all taxable property in the City and applies the applicable tax rate to the tax capacity of individual properties to arrive at the actual tax for each property. The County also collects all special assessments, except for certain prepayments paid directly to the City. The County collects all taxes and assessments, except as noted above. The County mails copies of all real estate and personal property tax statements. Each year, property owners are required to pay one half of their real estate taxes by May 15 and the balance by October 15. Penalties and interest are assessed to property owners who do not pay their property taxes and special assessments by the due dates. Delinquent taxes receivable include the past six years’ uncollected taxes. Delinquent taxes have been offset by deferred inflows of resources for taxes not received within 60 days after year end in the fund financial statements. Special Assessments Special assessments are levied against benefited properties for the cost or a portion of the cost of special assessment improvement projects in accordance with State Statutes. These assessments are collectible by the City over a term of years usually consistent with the term of the related bond issue. Collection of annual installments (including interest) is handled by the County Auditor in the same manner as property taxes. Property owners are allowed to (and often do) prepay future installments without interest or prepayment penalties. Once a special assessment roll is adopted, the amount attributed to each parcel is a lien upon that property until full payment is made or the amount is determined to be excessive by the City Council or court action. If special assessments are allowed to go delinquent, the property is subject to tax forfeit sale and the first proceeds of that sale (after costs, penalties, and expenses of sale) are remitted to the City in payment of delinquent special assessments. Generally, the City will collect the full amount of its special assessments not adjusted by City Council or court action. Pursuant to State Statutes, a property shall be subject to a tax forfeit sale after three years unless it is homesteaded, agricultural or seasonal recreational land in which event the property is subject to such sale after five years. Within the government-wide financial statements, the City recognizes special assessment revenue in the period that the assessment roll was adopted by the City Council. Uncollectible special assessments are not material and have not been reported. Within the governmental fund financial statements, the revenue from special assessments is recognized by the City when it becomes measurable and available to finance expenditures of the current fiscal period. In practice, current and delinquent special assessments received by the City are recognized as revenue for the current year. Special assessments are collected by the County and remitted by December 31 (remitted to the City the following January) and are also recognized as revenue for the current year. All remaining delinquent, deferred, and special deferred assessments receivable in governmental funds are completely offset by deferred inflows of resources. Program Revenues Program revenues reported in the government-wide financial statements include (1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided or fines imposed by a given function or segment, and (2) grants and contributions (including special assessments) that are restricted to meeting the operational or capital requirements of a particular function or segment. All taxes, including those dedicated for specific purposes, and other internally dedicated resources are reported as general revenues rather than as program revenues. Operating Revenues and Expenses Operating revenues and expenses for proprietary funds are those that result from providing services and producing and delivering goods and/or services. It also includes all revenue and expenses not related to capital and noncapital financing, or investing activities. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 39 NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 1.G. REVENUES, EXPENDITURES, AND EXPENSES (Continued) Expenditures/Expenses In the government-wide financial statements, expenses are classified by function for both governmental and business-type activities. In the fund financial statements, expenditures are classified as follows: Governmental Funds - By Character Current (further classified by Function) Capital Outlay Debt Service Proprietary Fund - By Operating and Nonoperating In the fund financial statements, governmental funds report expenditures of financial resources. Proprietary funds report expenses relating to use of economic resources. Interfund Transfers Permanent reallocation of resources between funds of the reporting entity are classified as interfund transfers. For the purpose of the Statement of Activities, all interfund transfers between individual governmental funds, as well as all interfund transfers between individual proprietary funds, have been eliminated. See additional information at Note 2.E. NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS The following notes present detailed information to support the amounts reported in the basic financial statements for its various assets, liabilities, deferred outflows/inflows of resources, equity, revenues, and expenditures/expenses. 2.A. CASH, CASH EQUIVALENTS, AND INVESTMENTS Deposits In accordance with applicable Minnesota Statutes, the City maintains deposits at depository banks authorized by the City Council. Minnesota Statutes require that all City deposits be protected by insurance, surety bond, or collateral. The market value of collateral pledged must equal 110 percent of the deposits not covered by insurance or bonds (100 percent if collateral pledged is irrevocable standby letters of credit issued by the Federal Home Loan Bank). The City complies with such laws. Authorized collateral in lieu of a corporate surety bond includes: • United States Government Treasury bills, Treasury notes, Treasury bonds; • Issues of United States government agencies and instrumentalities as quoted by a recognized industry quotation service available to the government entity; • A general obligation of a state or local government, with taxing powers, rated “A” or better; • A revenue obligation of a state or local government, with taxing powers, rated “AA” or better; • Unrated general obligation securities of a local government, with taxing powers, pledged as collateral against funds deposited by that same local government entity; • Irrevocable standby letter of credit issued by a Federal Home Loan Bank accompanied by written evidence that the Federal Home Loan Bank’s public debt is rated “AA” or better by Moody’s or Standard and Poor’s; or • Time deposits insured by any federal agency. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 40 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.A. CASH, CASH EQUIVALENTS, AND INVESTMENTS (Continued) Minnesota Statutes require that all collateral shall be placed in safekeeping in a restricted account at a Federal Reserve Ba nk, or in an account at a trust department of a commercial bank or other financial institution that is not owned or controlled by the financial institution furnishing the collateral. The selection should be approved by the City. At December 31, 2025, the City’s deposits, including certificates of deposit, were not exposed to custodial credit risk. The City’s deposits were sufficiently covered by federal depository insurance or by collateral held by the City’s agent in the City’s name. Investments The City may also invest idle funds as authorized by Minnesota Statutes as follows: direct obligations guaranteed by the United States or its agencies; shares of investment companies registered under the Federal Investment Company Act of 1940 that received the highest credit rating, are rated in one of the two highest rating categories by a statistical rating agency, and all of the investments have a final maturity of 13 months or less; general obligations rated “A” or better; revenue obligations rated “AA” or better; general obligations of the Minnesota Housing Finance Agency rated “A” or better; bankers’ acceptances of United States banks eligible for purchase by the Federal Reserve System; commercial paper issued by United States corporations or their Canadian subsidiaries, rated of the highest quality category by at least two nationally recognized rating agencies, and maturing in 270 days or less; Guaranteed Investment Contracts guaranteed by a United States commercial bank, domestic branch of a foreign bank, or a United States insurance company, and with a credit quality in one of the top two highest categories; repurchase or reverse purchase agreements and securities lending agreements with financial institutions qualified as a “depository” by the government entity, with banks that are members of the Federal Reserve System with capitalization exceeding $10,000,000, a primary reporting dealer in U.S. government securities to the Federal Reserve Bank of New York, or certain Minnesota securities broker-dealers. The City does not have any investment policies that would further limit investment choices. The City categorizes its fair value measurements within the fair value hierarchy established by accounting principles generally accepted in the United State of America. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Debt and equity securities classified as Level 1 are valued using prices quoted in active markets for those securities. Debt and equity securities classified in Level 2 are valued using the following approaches: debt securities are normally valued based on price data obtained from observed transactions and market price quotations from broker dealers and/or pricing vendors for similar debt securities in active markets; equity securities are valued using fair value per share for each fund for identical equity securities in inactive markets. Certificates of deposit classified in level 2 are valued using broker quotes that utilize observable market inputs for similar certificates in active markets. Securities classified as Level 3 have limited trade information, these securities are priced using the last trade price or estimated using recent trade prices. Investment balances at December 31, 2025 are as follows: S & P's Credit Fair Value Fair Less Investment Type Rating Level Value Than 1 1 - 5 6 - 10 Money Market Funds N/A N/A 483,476$ 483,476$ -$ -$ U.S. Government Bonds AA+ to AAA Level 2 6,598,284 5,399,500 800,576 398,208 Municipal Bonds A to AAA Level 2 16,073,143 531,904 13,267,939 2,273,300 Brokered Certificates of Deposit NR Level 2 3,573,958 691,219 2,390,911 491,828 Totals 26,728,861$ 7,106,099$ 16,459,426$ 3,163,336$ Investment Maturities (in Years) CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 41 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.A. CASH, CASH EQUIVALENTS, AND INVESTMENTS (Continued) The investments of the City are subject to the following risks: • Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. Ratings are provided by various credit rating agencies and where applicable, indicate associated credit risk. Minnesota Statutes limit the City’s investments. The City’s policy to minimize credit risk includes limiting investing funds to those allowable under Minnesota Statute 118A, annually appointing all financial institutions where investments are held, and diversifying the investment portfolio. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. • Custodial credit risk is the risk that in the event of a failure of the counterparty to a transaction, a government will not be able to recover the value of investment or collateral securities that are in the possession of an outside party. The City’s investment policy requires its brokers to be licensed with the appropriate federal and state agencies. A minimum capital requirement of $10,000,000 and at least five years of operation is mandatory. Investments in securities are held by the City’s broker-dealers. The securities at each broker-dealer are insured $500,000 through SIPC. Each broker- dealer has provided additional protection by providing additional insurance. This insurance is subject to aggregate limits applied to all of the broker-dealer’s accounts. • Concentration of Credit Risk is the risk associated with the magnitude of the City’s investments (considered five percent or more) in the investments of a single issuer, excluding U.S. guaranteed investments (such as treasuries), investment pools, and mutual funds. The City’s investment policy allows no more than 5 percent of the overall portfolio to be invested in a single issuer, except for the securities of the U.S. Government, or a maximum of 25 percent with any individual counter party in an external investment pool. At December 31, 2025, the City did not have a significant concentration of credit risk. • Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. The City’s investment policy states that extended maturities may be utilized to take advantage of higher yields; however no more than 25 percent of total investments should extend beyond five years and in no circumstance should any extend beyond ten years. The City’s investment portfolio is structured so that securities mature to meet cash requirements for ongoing operations. Deposits and Investments Summary A reconciliation of cash and investments as shown on the Statements of Net Position for the City follows: Carrying Amount of Deposits 31,336,618$ Investments 26,728,861 Total 58,065,479$ Government-wide Cash, Cash Equivalents, and Investments 58,065,479$ CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 42 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.B. LEASE RECEIVABLES The City has executed various arrangements under which the City leases property to external parties. A summary of the pertinent terms for these leasing arrangements, as well as the corresponding lease receivables, is presented below: Governmental Activities Original Total Annual Interest Maturity Remaining Description Amount Lease Payment Rate(s)Date Amount Wireless Site Lease 548,874$ $2,500 - $55,902 5.50%11/30/2047 545,936$ Wireless Site Lease 696,030 $27,987 - $55,425 3.25%6/30/2043 628,285 Land Lease 400,078 $21,012 - $31,847 3.25%12/31/2043 363,013 Total Governmental Activities Lease Receivables 1,537,234$ During the year ended December 31, 2025, the City recognized revenues from leasing activities under the arrangements above within governmental activities in the amount of $135,026. 2.C. CAPITAL ASSETS Capital asset activity for the year ended December 31, 2025 is as follows: Balance at Balance at 01/01/25 Additions Disposals Transfers 12/31/25 Governmental Activities Capital Assets not Being Depreciated or Amortized Land 3,453,979$ 2,946,277$ -$ -$ 6,400,256$ Construction In Progress 2,858,374 4,948,578 (79,088) (470,809) 7,257,055 Total Capital Assets not Being Depreciated or Amortized 6,312,353 7,894,855 (79,088) (470,809) 13,657,311 Capital Assets Being Depreciated and Amortized Buildings 19,144,599 - - - 19,144,599 Other Improvements 4,286,566 275,342 - - 4,561,908 Machinery and Equipment 10,718,464 415,879 (126,225) - 11,008,118 Infrastructure 89,088,089 13,283,830 - 470,809 102,842,728 Total Capital Assets Being Depreciated and Amortized 123,237,718 13,975,051 (126,225) 470,809 137,557,353 Less: Accumulated Depreciation Buildings (1,606,531) (386,444) - - (1,992,975) Other Improvements (1,615,829) (161,506) - - (1,777,335) Machinery and Equipment (3,479,022) (648,693) 126,225 - (4,001,490) Infrastructure (18,042,079) (4,399,514) - - (22,441,593) Total Accumulated Depreciation (24,743,461) (5,596,157) 126,225 - (30,213,393) Total Capital Assets Being Depreciated and Amortized, Net 98,494,257 8,378,894 - 470,809 107,343,960 Capital Assets, Net 104,806,610$ 16,273,749$ (79,088)$ -$ 121,001,271$ CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 43 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.C. CAPITAL ASSETS (Continued) Depreciation is charged to governmental activities as follows: General Government 169,925$ Public Safety 359,982 Public Works 4,884,921 Parks and Recreation 181,329 Total Depreciation Expense 5,596,157$ Balance at Balance at 01/01/25 Additions Disposals Transfers 12/31/25 Business-Type Activities Capital Assets not Being Depreciated or Amortized Land 3,668,869$ -$ -$ -$ 3,668,869$ Construction In Progress 611,693 3,807,173 (26,793) (2,381,838) 2,010,235 Total Capital Assets not Being Depreciated or Amortized 4,280,562 3,807,173 (26,793) (2,381,838) 5,679,104 Capital Assets Being Depreciated and Amortized Machinery and Equipment 1,114,636 104,653 - - 1,219,289 Infrastructure 131,950,176 15,204,565 (15,842) 2,381,838 149,520,737 IT Subscription 92,653 - - - 92,653 Total Capital Assets Being Depreciated and Amortized 133,157,465 15,309,218 (15,842) 2,381,838 150,832,679 Less: Accumulated Depreciation Machinery and Equipment (348,890) (72,551) - - (421,441) Infrastructure (26,996,460) (6,172,857) 15,842 - (33,153,475) Less: Accumulated Amortization IT Subscription (9,113) (18,227) - - (27,340) Total Accumulated Depreciation and Amortization (27,354,463) (6,263,635) 15,842 - (33,602,256) Total Capital Assets Being Depreciated and Amortized, Net 105,803,002 9,045,583 - 2,381,838 117,230,423 Capital Assets, Net 110,083,564$ 12,852,756$ (26,793)$ -$ 122,909,527$ CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 44 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.D. NONCURRENT LIABILITIES The reporting entity’s long-term debt is segregated between the amounts to be repaid from governmental activities and amounts to be repaid from business-type activities. Debt Detail General Obligation Bonds and Certificates The City of Lake Elmo issues general obligation bonds and certificates to finance the acquisition and construction of major capital facilities and infrastructure throughout the City. General obligation bonds and certificates have been issued for bot h activities pertaining to governmental and business-type operations. All bonds are direct obligations of the City and pledge the full faith and credit of the City. As of December 31, 2025, the long-term debt of the financial reporting entity, excluding compensated absences payable and the net pension and OPEB liabilities, consists of the following: Original Interest Final Maturity Balance Issue Amount Rates Date Outstanding Governmental Activities General Obligation Improvement Bonds: GO Improvement Bonds, Series 2014A 2,850,000$ 2.00 - 3.50%2030 785,000$ GO Improvement Bonds, Series 2015A 1,620,000 2.00 - 3.00%2026 165,000 GO Improvement Bonds, Series 2016A 2,690,000 2.00%2027 575,000 GO Improvement Bonds, Series 2017A 4,565,000 2.50%2028 1,465,000 GO Improvement Bonds, Series 2019A 2,860,000 2.00 - 3.00%2035 1,500,000 GO Improvement Bonds, Series 2021A 15,675,000 1.75 - 3.00%2042 13,445,000 GO Improvement Bonds, Series 2022A 3,895,000 3.00 - 5.00%2038 3,495,000 GO Improvement Bonds, Series 2023A 3,410,000 4.00 - 5.00%2034 3,140,000 GO Improvement Bonds, Series 2024A 4,195,000 4.00 - 5.00%2039 4,195,000 GO Improvement Bonds, Series 2025A 2,025,000 4.00 - 5.00%2036 2,025,000 Total General Obligation Improvement Bonds 30,790,000 General Obligation Equipment Certificates: GO Equipment Certificates, Series 2018A 940,000 2.70%2028 340,000 General Obligation Tax Abatement Bonds: GO Tax Abatement Bonds, Series 2022A 1,010,000 3.00 - 5.00%2033 845,000 Total Governmental Activities Debt 31,975,000$ Description CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 45 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.D. NONCURRENT LIABILITIES (Continued) Original Interest Final Maturity Balance Issue Amount Rates Date OutstandingDescription Business-Type Activities General Obligation Revenue Bonds: GO Refunding Bonds, Series 2012A 4,035,000$ 2.00 - 2.50%2030 1,630,000$ GO Improvement Bonds, Series 2014A 3,385,000 2.00 - 3.50%2030 1,260,000 GO Improvement Bonds, Series 2015A 1,195,000 2.00 - 3.00%2031 530,000 GO Improvement Bonds, Series 2016A 6,855,000 2.00%2032 3,455,000 GO Improvement Bonds, Series 2017A 4,480,000 2.50 - 3.00%2033 2,590,000 GO Improvement Bonds, Series 2019A 1,195,000 2.00 - 3.00%2035 850,000 GO Improvement Bonds, Series 2021A 6,310,000 1.75 - 3.00%2037 5,045,000 GO Improvement Bonds, Series 2022A 7,590,000 3.00 - 5.00%2037 6,310,000 GO Improvement Bonds, Series 2023A 2,000,000 4.00 - 5.00%2038 1,775,000 GO Improvement Bonds, Series 2024A 470,000 4.00 - 5.00%2039 440,000 Total Business-Type Activities - GO Bonds 23,885,000 Subscription Liabilities: Sensus Analytics 92,653 8.50%2029 48,546 Total Business-Type Activities Debt 23,933,546$ Changes in Noncurrent Liabilities The following is a summary of changes in noncurrent liabilities, excluding the net pension and OPEB liabilities, for the year ended December 31, 2025: Amounts Due Balance Balance Within Type of Debt 01/01/25 Additions Deductions 12/31/25 One Year Governmental Activities G.O. Improvement Bonds 31,535,000$ 2,025,000$ (2,770,000)$ 30,790,000$ 2,990,000$ G.O. Equipment Certificates 450,000 - (110,000) 340,000 110,000 G.O. Tax Abatement Bonds 930,000 - (85,000) 845,000 90,000 Unamortized Bond Premium 1,534,390 146,826 (184,681) 1,496,535 - Compensated Absences 191,197 104,290 - 295,487 221,615 Total 34,640,587$ 2,276,116$ (3,149,681)$ 33,767,022$ 3,411,615$ Business-Type Activities G.O. Revenue Bonds 26,270,000$ -$ (2,385,000)$ 23,885,000$ 2,435,000$ Unamortized Bond Premium 1,016,299 - (97,849) 918,450 - Subscription Liabilities 88,418 - (39,872) 48,546 14,301 Compensated Absences 51,664 18,852 - 70,516 52,887 Total 27,426,381$ 18,852$ (2,522,721)$ 24,922,512$ 2,502,188$ CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 46 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.D. NONCURRENT LIABILITIES (Continued) Governmental activity debt is typically funded through the Debt Service Fund. Business-Type activity debt is typically funded through the Water Fund, Sewer Fund, and Storm Sewer Fund. Subscription liabilities in business-type activities are funded through the Water Fund. The changes in compensated absences displayed on the previous page have been presented on a net basis. Annual Debt Service Requirements At December 31, 2025, the estimated annual debt service requirements to maturity, including principal and interest and excluding compensated absences payable and net pension and OPEB liabilities, are as follows: Years Ending December 31, Principal Interest Total Principal Interest Total 2026 2,990,000$ 945,437$ 3,935,437$ 110,000$ 7,695$ 117,695$ 2027 3,045,000 845,656 3,890,656 115,000 4,658 119,658 2028 2,875,000 739,706 3,614,706 115,000 1,552 116,552 2029 2,475,000 639,756 3,114,756 - - - 2030 2,475,000 544,368 3,019,368 - - - 2031-2035 11,040,000 1,533,722 12,573,722 - - - 2036-2040 4,655,000 336,485 4,991,485 - - - 2041-2042 1,235,000 26,404 1,261,404 - - - Totals 30,790,000$ 5,611,534$ 36,401,534$ 340,000$ 13,905$ 353,905$ Governmental Activities G.O. Improvement Bonds G.O. Equipment Certificates Years Ending December 31, Principal Interest Total Principal Interest Total 2026 90,000$ 35,200$ 125,200$ 2,435,000$ 685,708$ 3,120,708$ 2027 95,000 30,575 125,575 2,505,000 610,114 3,115,114 2028 95,000 25,825 120,825 2,590,000 531,226 3,121,226 2029 100,000 20,950 120,950 2,640,000 449,875 3,089,875 2030 110,000 15,700 125,700 2,690,000 364,994 3,054,994 2031-2035 355,000 17,275 372,275 8,505,000 908,277 9,413,277 2036-2039 - - - 2,520,000 97,790 2,617,790 Totals 845,000$ 145,525$ 990,525$ 23,885,000$ 3,647,984$ 27,532,984$ G.O. Tax Abatement Bonds G.O. Revenue Bonds Business-Type ActivitiesGovernmental Activities Years Ending December 31, Principal Interest Total 2026 14,301$ 3,520$ 17,821$ 2027 16,123 2,233 18,356 2028 18,122 784 18,906 Totals 48,546$ 6,537$ 55,083$ Business-Type Activities Subscription Liabilities CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 47 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.D. NONCURRENT LIABILITIES (Continued) Interest expense totals $1,631,140 in the Statement of Activities (included in Debt Service, Water, Sewer, and Storm Sewer lines). Interest expenditures total $990,961 for the Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds (included in the line Interest and Other Charges) and $636,777 in the Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds (included in the line Interest and Other Charges). 2.E. INTERFUND TRANSACTIONS AND BALANCES Operating transfers consist of the following for the year ended December 31, 2025: Nonmajor Transfers Capital Project Out Ballpark Fund Funds Total General 19,000$ -$ 19,000$ 19,000$ Water 330,749 - 330,749 330,749 Nonmajor Capital Project Funds 2,000,000 1,000,000 1,000,000 2,000,000 2,349,749$ 1,000,000$ 1,349,749$ 2,349,749$ Major Fund Major Fund Transfers In Nonmajor Funds Transfers are used to (a) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them and to (b) use unrestricted revenues collected in the General Fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. Interfund balances at year-end are as follows: Due To Fund Due From Fund Amount Purpose General Fund CSAH 13 Phase 2 Fund 48,389$ Eliminate negative cash General Fund Old Village Phases 5 & 6 Fund 272,542 Eliminate negative cash General Fund CSAH 15 (Manning Ave) Phase 3 Fund (433)3,525 Eliminate negative cash General Fund CSAH 15 (Manning Ave & 30th Street) Fund 14,113 Eliminate negative cash General Fund TH36 Lake Elmo Ave Improvements Fund 39,958 Eliminate negative cash General Fund Old Village Phase 7 Fund 52,276 Eliminate negative cash General Fund CSAH 15 (Manning Ave) Phase 3 Fund (444)4,212 Eliminate negative cash General Fund Hudson Blvd Imp-Seg A-InwdHdrx Fund 259,391 Eliminate negative cash General Fund 30th ST N Cap Segmt Improvement Fund 470,808 Eliminate negative cash General Fund Stillwater Area Sch Dist Util Fund 1,299,473 Eliminate negative cash General Fund 2025 Street & Utility Improvements Fund 103,800 Eliminate negative cash Total Short-Term Interfund Balance 2,568,487 Short-Term Balances CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 48 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.E. INTERFUND TRANSACTIONS AND BALANCES (Continued) Advance From Fund Advance to Fund Ballfield Fund Sewer Fund 2,000,000$ Project Financing Total Interfund Balances 4,568,487 Government Fund Elimination (2,568,487) Government-wide Internal Balances 2,000,000$ Long-Term Balances Interfund balances are to be repaid as cash flows become available. The interfund advance noted above bears a 5 percent interest rate and is to be repaid in annual installments through 2035. Property taxes are to be levied to facilitate the repayment. 2.F. FUND EQUITY At December 31, 2025, governmental fund equity consists of the following: Nonspendable Restricted Committed Assigned Unassigned General Fund Nonspendable - Leases (Net)162,183$ -$ -$ -$ -$ Unassigned - - - - 12,443,449 Total General Fund Balance 162,183$ -$ -$ -$ 12,443,449$ Debt Service Fund Restricted for Debt Service -$ 6,120,873$ -$ -$ -$ Ballfield Fund Unassigned -$ -$ -$ -$ (1,927,723)$ CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 49 NOTE 2 DETAIL NOTES ON TRANSACTION CLASSES/ACCOUNTS (Continued) 2.F. FUND EQUITY (Continued) Nonspendable Restricted Committed Assigned Unassigned Deficit fund balances in individual funds at December 31, 2025 consist of the following: Fund Deficit CSAH 13 Phase 2 Fund (48,389)$ Old Village Phases 5 & 6 (273,005)$ CSAH 15 Manning Avenue Phase 3 Fund (3,525)$ CSAH 15 Manning Avenue & 30th Street Fund (14,113)$ TH36 Lake Elmo Avenue Improvements Fund (53,586)$ Old Village Phase 7 Fund (52,276)$ CASH 15 (Manning Ave) Phase 3 Fund (4,212)$ 30th St N Gap Segmt Improvement Fund (470,808)$ Stillwater Area Sch Dist Util Fund (1,359,395)$ Hudson Blvd Imp-Seg A-InwdHdrx Fund (367,297)$ 2026 Street & Utility Improvements (152,409)$ Nonmajor Governmental Funds Fund deficits are expected to be recovered through future assessments, tax levies, tax increment, or transfers. Nonmajor Governmental Funds Restricted for Lawful Gambling Eligible Purposes -$ 7,215$ -$ -$ -$ Restricted for Park Improvements - 2,664,799 - - - Restricted for Heritage Farms Street and Utility Improv.- 247,465 - - - Restricted for City Hall/Fire Station Project - 1,500,015 - - - Restricted for Tamarack Farm Estates Street Improv.- 134,883 - - - Restricted for 2022 Street Improvements - 386,450 - - - Restricted for 2024 Street & Utility Improvements - 715,748 - - - Restricted for 2025 Street & Utility Improvements - 219,146 - - - Committed for Lions Park - - 37,322 - - Assigned for Economic Development Authority - - - 13,470 - Assigned for Vehicle Acquisition - - - 939,407 - Assigned for Infrastructure Reserve - - - 965,872 - Assigned for City Facilities - - - 107,798 - Assigned for Manning and Hudson Future Stoplight - - - 41,310 - Assigned for Railroad Crossing Improvements - - - 111,401 - Assigned for Manning and Highway 36 Interchange - - - 2,806 - Assigned for 2023 Street Improvements - - - 283,869 - Assigned for 15th Street N Improvement - - - 62,493 - Assigned for Fire Equipment & Projects - - - 178,655 - Assigned for Street Maintenance - - - 160,473 - Assigned for City Center Reserve - - - 34,296 - Assigned for Park Reserve - - - 246,154 - Assigned for Trees - - - 50,037 - Unassigned - - - - (2,799,015) Total Nonmajor Governmental Funds Balance -$ 5,875,721$ 37,322$ 3,198,041$ (2,799,015)$ CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 50 NOTE 3 DEFINED BENEFIT PENSION PLANS – STATEWIDE Plan Description The City participates in the following cost-sharing multiple-employer defined benefit pension plans administered by the Public Employees Retirement Association of Minnesota (PERA). These plan provisions are established and administered according to Minnesota Statutes chapters 353, 353D, 353E, 353G, and 356. Minnesota Statutes chapter 356 defines each plan’s financial reporting requirements. PERA’s defined benefit pension plans are tax qualified plans under Section 401(a) of the Internal Revenue Code. General Employees Retirement Plan (General Plan) Membership in the General Plan includes employees of counties, cities, townships, schools in non-certified positions, and other governmental entities whose revenues are derived from taxation, fees, or assessments. Plan membership is required for any employee who is expected to earn more than $425 in a month, unless the employee meets exclusion criteria. Public Employees Police and Fire Retirement Plan (Police and Fire Plan) Membership in the Police & Fire Plan includes full-time, licensed police officers and firefighters who meet the membership criteria defined in Minnesota Statutes section 353.64 and who are not earning service credit in any other PERA retirement plan or a local relief association for the same service. Employers can provide Police & Fire Plan coverage for part-time positions and certain other public safety positions by submitting a resolution adopted by the entity’s governing body. The resolution must state that the position meets plan requirements. Benefits Provided PERA provides retirement, disability, and death benefits. Benefit provisions are established by state statute and can only be modified by the State Legislature. Vested, terminated employees who are entitled to benefits, but are not receiving them yet, are bound by the provisions in effect at the time they last terminated their public service. When a member is “vested,” they have earned enough service credit to receive a lifetime monthly benefit after leaving public service and reaching an eligible retirement age. Members who retire at or over their Social Security full retirement age with at least one year of service qualify for a retirement benefit. General Employees Plan Benefits General Employees Plan requires three years of service to vest. Benefits are based on a member’s highest average salary for any five successive years of allowable service, age, and years of credit at termination of service. Two methods are used to compute benefits for General Plan members. Members hired prior to July 1, 1989, receive the higher of the Step or Level formulas. Only the Level formula is used for members hired after June 30, 1989. Under the Step formula, General Plan members receive 1.20 percent of the highest average salary for each of the first 10 years of service and 1.70 percent for each additional year. Under the Level formula, General Plan members receive 1.70 percent of highest average salary for all years of service. For members hired prior to July 1, 1989 a full retirement benefit is available when age plus years of service equal 90 and normal retirement age is 65. Members can receive a reduced requirement benefit as early as age 55 if they have three or more years of service. Early retirement benefits are reduced by 0.25 percent for each month under age 65. Members with 30 or more years of service can retire at any age with a reduction of 0.25 percent for each month the member is younger than age 62. The Level formula allows General Plan members to receive a full retirement benefit at age 65 if they were first hired before July 1, 1989 or at age 66 if they were hired on or after July 1, 1989. Early retirement begins at age 55 with an actuarial reduction applied to the benefit. Benefit increases are provided to benefit recipients each January. The postretirement increase is equal to 50 percent of the cost- of-living adjustment (COLA) announced by the SSA, with a minimum increase of at least 1 percent and a maximum of 1.50 percent. The 2025 annual increase was 1.25 percent. Recipients that have been receiving the annuity or benefit for at least a full year as of the June 30 before the effective date of the increase will receive the full increase. Recipients receiving the annuity or benefit for at least one month but less than a full year as of the June 30 before the effective date of the increase will receive a prorated increase. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 51 NOTE 3 DEFINED BENEFIT PENSION PLANS – STATEWIDE (Continued) Police and Fire Plan Benefits Benefits for Police and Fire Plan members hired before July 1, 2010, are vested after three years of service. Members hired on or after July 1, 2010, are 50 percent vested after five years of service and 100 percent vested after ten years. After five years, vesting increase by 10 percent each full year of service until members are 100 percent vested after ten years. Police and Fire Plan members receive 3 percent of highest average salary for all years of service. Police and Fire Plan members receive a full retirement benefit when they are age 55 and vested, or when their age plus their years of service equals 90 or greater if the y were first hired before July 1, 1989. Early retirement starts at age 50, and early retirement benefits are reduced by 0.417 percent each month members are younger than age 55. Benefit increases are provided to benefit recipients each January. The postretirement increase is fixed at 1 percent. Recipients that have been receiving the annuity or benefit for at least 36 months as of the June 30 before the effective date of the increase will receive the full increase. Recipients receiving the annuity or benefit for at least 25 months but less than 36 months as of the June 30 before the effective date of the increase will receive a prorated increase. Contributions Minnesota Statutes Chapter 353, 353E, 353G, and 356 set the rates for employer and employee contributions. Contribution rates can only be modified by the State Legislature. General Employees Fund Contributions General Plan members were required to contribute 6.50 percent of their annual covered salary in fiscal year 2025 and the City was required to contribute 7.50 percent for General Plan members. The City’s contributions to the General Employees Fund for the year ended December 31, 2025, were $171,776. The City’s contributions were equal to the required contributions as set by State Statute. Police and Fire Fund Contributions Police and Fire Plan members were required to contribute 11.80 percent of their annual covered salary in fiscal year 2025 and the City was required to contribute 17.70 percent for Police and Fire Plan members. The City’s contributions to the Police and Fire Fund for the year ended December 31, 2025, were $144,921. The City’s contributions were equal to the required contributions as set by State Statute. Pension Costs General Employees Fund Pension Costs At December 31, 2025, the City reported a liability of $823,399 for its proportionate share of the General Employees Fund’s net pension liability. The City’s net pension liability reflected a reduction due to the State of Minnesota’s contribution of $16 million. The State of Minnesota is considered a non-employer contributing entity and the State’s contribution meets the definition of a special funding situation. The State of Minnesota’s proportionate share of the net pension liability associated with the City totaled $19,863. City’s proportionate share of the net pension liability $823,399 State of Minnesota’s proportionate share of the net pension liability associated with the City 19,863 Total $843,262 CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 52 NOTE 3 DEFINED BENEFIT PENSION PLANS – STATEWIDE (Continued) The net pension liability was measured as of June 30, 2025, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City's proportion of the net pension liability was b ased on the City's contributions received by PERA during the measurement period for employer payroll paid dates from July 1, 2024 through June 30, 2025, relative to the total employer contributions received from all of PERA's participating employers. The City’s proportionate share was 0.0248 percent at the end of the measurement period and 0.0232 percent for the beginning of the period. For the year ended December 31, 2025, the City recognized pension expense of $35,419 for its proportionate share of the General Employees Plan’s pension expense. In addition, the City recognized an additional $3,975 as pension expense (and grant revenue) for its proportionate share of the State of Minnesota’s contribution of $16 million to the General Employees Fund. At December 31, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Outflows of Deferred Inflows of Resources Resources Differences between expected and actual economic experience 78,452$ -$ Changes in actuarial assumptions 19,839 189,461 Difference between projected and actual investment earnings - 327,637 Changes in proportionate share 134,635 29,951 Contributions paid to PERA subsequent to the measurement date 87,065 - Total Deferred Outflows/Inflows 319,991$ 547,049$ The $87,065 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended December 31, 2026. Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year ended December 31, Pension Expense 2026 (66,762)$ 2027 (99,391)$ 2028 (89,443)$ 2029 (58,528)$ Police and Fire Fund Pension Costs At December 31, 2025, the City reported a liability of $596,286 for its proportionate share of the Police and Fire Fund’s net pension liability. The net pension liability was measured as of June 30, 2025, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City’s proportion ate share of the net pension liability was based on the City’s contributions received by PERA during the measurement period for employer payroll paid dates from July 1, 2024 through June 30, 2025, relative to the total employer contributions received from all of PERA’s participating employers. The City’s proportionate share was 0.0509 percent at the end of the measurement period and 0.0445 percent for the beginning of the period. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 53 NOTE 3 DEFINED BENEFIT PENSION PLANS – STATEWIDE (Continued) The State of Minnesota contributed $18 million to the Police and Fire Fund in the plan fiscal year ended June 30, 2025. The contribution consisted of $9 million in direct state aid that meets the definition of a special funding situation and $9 million in supplemental state aid that does not meet the definition of a special funding situation. The $9 million direct state aid was paid on October 1, 2024. The direct state aid payment will increase by $17.7 million which was paid on October 1, 2025. Thereafter, by October 1 of each year, the state will pay $26.7 million to the Police and Fire Fund until the fund is 110 percent funded for a minimum of three consecutive years (on an actuarial value of assets basis). The $9 million in supplemental state aid will continue until the fund and the State Patrol Plan (administered by the Minnesota State Retirement System) are 100 percent funded for three consecutive years (on an actuarial value of assets basis). The State of Minnesota’s proportionate share of the net pension liability associated with the City totaled $20,670. City’s proportionate share of the net pension liability $596,286 State of Minnesota’s proportionate share of the net pension liability associated with the City 20,670 Total $616,956 For the year ended December 31, 2025, the City recognized pension expense of $234,216 for its proportionate share of the Police and Fire Plan’s pension expense. The City recognized $4,580 as grant revenue and pension expense for its proportionate share of the State of Minnesota’s pension expense for the contribution of $9 million to the Police and Fire Fund special funding situation. The State of Minnesota is not included as a non-employer contributing entity in the Police and Fire Pension Plan pension allocation schedules for the $9 million in supplemental state aid because this contribution was not considered to meet the definition of a special funding situation. The City recognized $13,588 for the year ended December 31, 2025 as revenue and an offsetting reduction of net pension liability for its proportionate share of the State of Minnesota’s on-behalf contributions to the Police and Fire Fund. At December 31, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Outflows of Deferred Inflows of Resources Resources Differences between expected and actual economic experience 275,503$ -$ Changes in actuarial assumptions 452,176 747,122 Difference between projected and actual investment earnings - 266,131 Changes in proportionate share 368,879 10,376 Contributions paid to PERA subsequent to the measurement date 71,148 - Total Deferred Outflows/Inflows 1,167,706$ 1,023,629$ The $71,148 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended December 31, 2026. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 54 NOTE 3 DEFINED BENEFIT PENSION PLANS – STATEWIDE (Continued) Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized in pension expense as follows: Year ended December 31, Pension Expense 2026 233,107$ 2027 (37,292)$ 2028 (217,625)$ 2029 60,790$ 2030 33,949$ Aggregate Pension Expense The total pension expense for all plans recognized by the City for the year ended December 31, 2025 was negative $24,252. Long-Term Expected Return on Investment The State Board of Investment, which manages the investments of PERA, prepares an analysis of the reasonableness on a regular basis of the long-term expected rate of return using a building-block method in which best-estimate ranges of expected future rates of return are developed for each major asset class. These ranges are combined to produce an expected long-term rate of return by weighting the expected future rates of return by the target asset allocation percentages. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: Asset Class Target Allocation Long-Term Expected Real Rate of Return Domestic Equity 33.50% 5.10% International Equity 16.50% 5.30% Fixed Income 25.00% 0.75% Private Markets 25.00% 5.90% Total 100% Actuarial Methods and Assumptions The total pension liability for each of the cost-sharing defined benefit plans was determined by an actuarial valuation as of June 30, 2025, using the entry age normal actuarial cost method. The long-term rate of return on pension plan investments used to determine the total liability is 7.00 percent. The 7.00 percent assumption is based on a review of inflation and investment return assumptions from a number of national investment consulting firms. The review provided a range of investment return rates considered reasonable by the actuary. An investment return of 7.00 percent is within that range. • Inflation is assumed to be 2.25 percent for the General Employees Plan and Police & Fire Plan. • Benefit increases after retirement are assumed to be 1.50 percent for the General Employees Plan and 1.00 percent for the Police & Fire Plan. Salary growth assumptions in the General Employees Plan range in annual increments from 11.50 percent after one year of service to 3.00 percent after 27 years of service. In the Police & Fire Plan, salary growth assumptions range in annual increments from 10.75 percent after one year of service to 3.00 percent after 23 years of service. Mortality rates for the General Employees Plan are based on the Pub-2010 General Employee Mortality Table. Mortality rates for the Police & Fire Plan are based on the Pub-2010 Public Safety Employee Mortality tables. The tables are adjusted slightly to fit PERA’s experience. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 55 NOTE 3 DEFINED BENEFIT PENSION PLANS – STATEWIDE (Continued) Actuarial assumptions for the General Employees Plan are reviewed every four years. The General Employees Plan was last reviewed in 2022. The assumption changes were adopted by the board and became effective with the July 1, 2023 actuarial valuation. The Police & Fire Plan was reviewed in 2024. The assumption changes were adopted by the board and became effective with the July 1, 2025 actuarial valuation. The following changes in actuarial assumptions and plan provisions occurred in 2025: General Employees Fund Changes in Actuarial Assumptions: • The combined service annuity loading factors increased from 15 percent to 19 percent for vested terminated members and from 3 percent to 44 percent for non-vested, terminated members. • The assumed post-retirement benefit increase changed from 1.25 percent to 1.5 percent. Changes in Plan Provisions: • The post-retirement benefit increase formula changed to 100 percent of the Social Security annual increase, between 1 percent and 1.75 percent, beginning January 1, 2026. If the funded ratio (on a market value of assets basis) is less than 85 percent for the last two consecutive annual valuations or is less than 80 percent in the most recent actuarial valuation, the maximum is reduced to 1.5 percent. Previously, the benefit increase was 50 percent of the Social Security annual increase, between 1 percent and 1.5 percent. • The 1 percent additional employer contribution is eliminated when the plan reaches 98 percent funded status (on an actuarial value of assets basis); this contribution was previously scheduled to stop when the plan reached 100 percent funded status. Police and Fire Fund Changes in Actuarial Assumptions: • Assumed rates of salary increases were reduced slightly. • Assumed rates of retirement were adjusted, resulting in an overall increase in unreduced (full) retirements and an overall increase in reduced (early) retirements. • Assumed rates of withdrawal were modified; the new rates will increase predicted terminations, especially in the first few years of employment. • Assumed rates of disabled retirement were significantly increased, especially for ages over age 30. • Continued used of Pub-2010 Public Safety Mortality Table with rates adjusted to better fit observed experience. • Percent married assumption for female retirees lowered from 70 percent to 65 percent. • Minor changes were made to form of payment assumptions for retirees. • Minor changes were made to assumptions made with respect to missing participant data. • The combined service annuity load changed from 33 percent to 13 percent for vested, terminated members and from 2 percent to 38 percent for non-vested, terminated members. Changes in Plan Provisions: • The period of time needed for benefit recipients to receive their first benefit increase was reduced by one year (from 36 months to 24 months for a full increase). • The January 1, 2026 benefit increase changed from 1 percent to 3 percent; subsequent January 1 increases will be 1 percent. • The threshold to end the $9 million annual state aid contribution changed from the earlier of July 1, 2048 or 90 percent funded for both PERA Police & Fire and MSRS State Patrol for three consecutive years to 100 percent funded for both PERA Police & Fire and MSRS State Patrol for three consecutive years (on an actuarial value of assets basis). • The threshold to end the additional $9 million annual state aid contribution changed from the earlier of July 1, 2048 or 100 percent funded for a minimum of three consecutive years to 110 percent funded for a minimum of three consecutive years (on an actuarial value of assets basis). • An additional $17.7 million in direct state aid will be paid annually each October 1 beginning October 1, 2025 through June 30, 2048. • Join and survivor actuarial equivalent factors were updated to reflect changes in assumptions. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 56 NOTE 3 DEFINED BENEFIT PENSION PLANS – STATEWIDE (Continued) Discount Rate The discount rate used to measure the total pension liability in 2025 was 7.00 percent. The projection of cash flows used to determine the discount rate assumed that contributions from plan members and employers will be made at rates set in Minnesota Statutes. Based on these assumptions, the fiduciary net position of the General Employees and the Police and Fire Plans were projected to be available to make all projected future benefit payments of current plan members. The long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Pension Liability Sensitivity The following table presents the City's proportionate share of the net pension liability for all plans it participates in, calculated using the discount rate disclosed in the preceding paragraph, as well as what the City's proportionate share of the net pension liability would be if it were calculated using a discount rate one percentage point lower or one percentage point higher than the current discount rate: 6.00% $ 1,999,906 6.00%1,562,396$ 7.00%823,399$ 7.00%596,286$ 8.00%(131,014)$ 8.00%(197,043)$ 1% Increase in Discount Rate Current Discount Rate 1% Decrease in Discount Rate Sensitivity Analysis Net Pension Liability (Asset) at Different Discount Rates General Employees Fund Police and Fire Fund Pension Plan Fiduciary Net Position Detailed information about each pension plan’s fiduciary net position is available in a separately-issued PERA financial report that includes financial statements and required supplementary information. That report may be obtained on the Internet at www.mnpera.org. NOTE 4 STATEWIDE VOLUNTEER FIREFIGHTER RETIREMENT PLAN Plan Description The Lake Elmo Firefighters Relief Association participates in the Statewide Volunteer Firefighter Retirement Plan (accounted for in the Volunteer Firefighter Fund), an agent multiple-employer lump-sum defined benefit pension plan administered by the Public Employees Retirement Association of Minnesota (PERA). The Volunteer Firefighter Plan covers volunteer firefighters of municipal fire departments or independent nonprofit firefighting corporations that have elected to join the plan. As of December 31, 2024, the plan covered 29 active firefighters and 10 vested terminated firefighters whose pension benefits are deferred. The plan is established and administered in accordance with Minnesota Statutes, Chapter 353 G. Benefits Provided The Volunteer Firefighter Plan provides retirement, death, and supplemental benefits to covered firefighters and survivors. Benefits are paid based on the number of years of service multiplied by a benefit level approved by the City. Members are eligible for a lump-sum retirement benefit at 50 years of age with either five or ten years of service, depending on the vesting schedule selected. Plan provisions include a pro-rated vesting schedule that increases from 5 years at 40 percent through 20 years at 100 percent. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 57 NOTE 4 STATEWIDE VOLUNTEER FIREFIGHTER RETIREMENT PLAN (Continued) Contributions The Volunteer Firefighter Plan is funded by fire state aid, investment earnings and, if necessary, employer contributions as specified in Minnesota Statutes, and voluntary City contributions. The State of Minnesota contributed $171,565 in fire state aid to the fund for the year ended December 31, 2024. Required employer contributions are calculated annually based on statutory provisions. The City’s contributions were equal to the required contributions as set by state statute, if applicable. The City did not make any voluntary contributions to the plan. Pension Costs At December 31, 2025, the City of Lake Elmo reported a net pension asset of $563,375 for the Volunteer Firefighter Fund. The net pension asset was measured as of December 31, 2024. The total pension liability used to calculate the net pension asset in accordance with GASB 68 was determined by PERA applying an actuarial formula to specific census data certified by the fire department. The following table presents the changes in net pension liability during the year. Total Pension Plan Fiduciary Net Pension Liability Net Position Liability (Asset) Beginning Balance 12/31/23 742,166$ 1,398,841$ (656,675)$ Adjustment for Transition to SVF 181,960 (56,775) 238,735 Service Cost 90,387 - 90,387 Interest on Pension Liability 59,664 - 59,664 Projected Investment Earnings - 83,822 (83,822) Contributions (Employer)- 34,500 (34,500) Contributions (State)- 117,613 (117,613) Asset (Gain)/Loss - 61,531 (61,531) Benefit Payments (40,215) (40,215) - Administrative Fee - (1,980) 1,980 Net Changes 291,796 198,496 93,300 Balance End of Year 12/31/24 1,033,962$ 1,597,337$ (563,375)$ For the year ended December 31, 2025, the City recognized pension expense of $66,449. At December 31, 2025, the City of Lake Elmo reported deferred inflows of resources and deferred outflows of resources for contributions made after the measurement date related to pensions from the following sources: Deferred Outflows of Deferred Inflows of Resources Resources Differences between expected and actual economic experience -$ 49,225$ CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 58 NOTE 4 STATEWIDE VOLUNTEER FIREFIGHTER RETIREMENT PLAN (Continued) Other amounts reported as deferred outflows and inflows of resources related to the pension will be recognized in pension expense as follows: Year ended December 31, Pension Expense 2026 (12,306)$ 2027 (12,306)$ 2028 (12,306)$ 2029 (12,307)$ Actuarial Assumptions The total pension asset at the December 31, 2024 measurement date was determined using the entry age normal actuarial cost method and the following actuarial assumptions: • Retirement eligibility at the later of age 50 or when fully vested • Investment rate of return of 6.00 percent Discount Rate The discount rate used to measure the total pension liability was six percent. The projection of cash flows used to determine the discount rate assumed that contributions to the Volunteer Firefighter Fund will be made at a rate equal to the actuarially determined contribution rate. Based on these assumptions, the pension plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Pension Liability Sensitivity The following presents the City’s net pension asset for the Volunteer Firefighter Fund, calculated using the discount rate disclosed in the preceding paragraph, as well as what the City’s net pension asset would be if it were calculated using a discount rate one percent lower or one percent higher than the current discount rate: 1% Decrease in 1% Increase in Discount Rate (5.00%)Discount Rate (6.00%)Discount Rate (7.00%) Net Pension Asset (519,819)$ (563,375)$ (603,951)$ Plan Investments Investment Policy: The Minnesota State Board of Investment (SBI) is established by Article XI of the Minnesota Constitution to invest all state funds. Its membership as specified in the Constitution is comprised of the governor (who is designated as chair of the board), state auditor, secretary of state and state attorney general. All investments undertaken by the SBI are governed by the prudent person rule and other standards codified in Minnesota Statutes, Chapter 11A and Chapter 353G. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 59 NOTE 4 STATEWIDE VOLUNTEER FIREFIGHTER RETIREMENT PLAN (Continued) Within the requirements defined by state law, the SBI, with assistance of the SBI staff and the Investment Advisory Council, establishes investment policy for all funds under its control. These investments policies are tailored to the particular needs of each fund and specify investment objectives, risk tolerance, asset allocation, investment management structure and specific performance standards. Studies guide the on-going management of the funds and are updated periodically. Asset Allocation: To match the long-term nature of the pension obligations, the SBI maintains a strategic asset allocation for the Volunteer Firefighter Plan that includes allocations to domestic equity, international equity, bonds and cash equivalents. The long-term target asset allocation and long-term expected real rate of return is the following: Long-Term Expected Asset Class Target Allocation Real Rate of Return Domestic Stocks 35% 5.10% International Stocks 15% 5.30% Bonds 45% 0.75% Unallocated Cash 5% 0.00% The six percent long-term expected rate of return on pension plan investments was determined using a building-block method. Best estimates for expected future real rates of return (expected returns, net of inflation) were developed for each asset cl ass using both long-term historical returns and long-term capital market expectations from a number of investment management and consulting organizations. The asset class estimates and the target allocations were then combined to produce a geometric, long-term expected real rate of return for the portfolio. Inflation expectations were applied to derive the nominal rate of return for the portfolio. Description of significant investment policy changes during the year: The SBI made no significant changes to their investment policy during calendar year 2024 for the Volunteer Firefighter Fund. Pension Plan Fiduciary Net Position Detailed information about the Volunteer Firefighter Fund’s fiduciary net position as of June 30, 2024, is available in a separately-issued PERA financial report that includes financial statements and required supplementary information. That report may be obtained at www.mnpera.org. NOTE 5 POSTEMPLOYMENT BENEFITS OTHER THAN PENSIONS Plan Description The City administers a single-employer defined benefit plan (the Plan) that provides health insurance to eligible employees and their spouses through the City’s health insurance plan. The OPEB plan has no assets accumulated in a trust that meets the requirements to be netted against OPEB liabilities. As of the most recent actuarial valuation date, there are 27 active employees electing coverage, 3 active employees not electing coverage, and no retirees electing coverage. Benefit and eligibility provisions are established through negotiations between the City and the City’s employees. The Plan does not issue a publicly available financial report. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 60 NOTE 5 POSTEMPLOYMENT BENEFITS OTHER THAN PENSIONS (Continued) Benefits Provided At retirement, employees of the City receiving a retirement or disability benefit, or eligible to receive a benefit, from a Minnesota public pension plan may continue to participate in the City’s group insurance plan. Vesting requirements of three years if hired before July 1, 2010 or five years if hired on or after July 1, 2010 generally apply. The City is legally required to include any retirees for who it provides health insurance coverage in the same insurance pool as its active employees until the retiree reaches Medicare eligibility, regardless of whether the premiums are paid by the City or the retiree. Consequently, participating retirees are considered to receive a secondary benefit known as an “implicit rate subsidy.” This benefit arises from the assumption that the retiree is receiving a more favorable premium rate than they would otherwise be able to obtain if purchasing insurance on their own, due to being included in the same pool with the City’s younger and statistically healthier active employees. Contributions The City has historically funded these liabilities on a pay-as-you-go basis, in the amounts contractually required to satisfy the benefit terms discussed above. For the year ended December 31, 2025, the City did not make any direct contributions to the plan. Net OPEB Liabilities, OPEB Expense, and Deferred Outflows/Inflows of Resources At December 31, 2025, the City reported a net OPEB liability of $67,498 for the City’s plan. The net OPEB liability was measured as of December 31, 2024, based on an actuarial valuation as of December 31, 2023. For the year ended December 31, 2025, the City recognized OPEB expense of $5,506. In accordance with the Alternative Measurement Method, gains and losses due to experience and assumption changes are recognized immediately. In addition, there were no contributions between the measurement date and reporting date because the City has no retirees and no active employees who were expected to retire during 2025. Therefore, there are no deferred outflows or inflows of resources related to OPEB as of December 31, 2025. Changes in the Net OPEB Liability The following table summarizes changes in the net OPEB liability for the year ended December 31, 2025: Changes in Total OPEB Liability (TOL) Balance at January 1st 61,992$ Service Cost 9,208 Interest Cost 2,599 Changes in Assumptions (1,780) Benefit Payments (4,521) Balance at December 31st 67,498$ CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 61 NOTE 5 POSTEMPLOYMENT BENEFITS OTHER THAN PENSIONS (Continued) Actuarial Assumptions The following is a summary of pertinent actuarial assumptions and methods utilized, applied to all periods included in the measurement, unless otherwise specified: Key Methods and Assumptions Used in Valuation of Total OPEB Liability Actuarial Information: Valuation Date December 31, 2023 Measurement Date December 31, 2024 Actuarial Cost Method Entry Age Normal level percentage of pay Actuarial Assets None Actuarial Assumptions: Discount Rate 4.08% Inflation 2.50% Bond Yield 4.08% Medical Trend Rate 6.90% for FY2024, gradually decreasing over several decades to an ultimate rate of 3.90% in FY2075 and later years Dental Trend Rate None Mortality rates were based on the Pub-2010 General mortality tables with projected mortality improvements based on scale MP-2021, and other adjustments. Changes in Plan Provisions: • There were no changes in plan provisions since the prior valuation. Changes in Actuarial Assumptions: • The discount rate was changed from 3.77 percent to 4.08 percent based on updated 20-year municipal bonds rates. Net OPEB Liability Sensitivity The following presents the net OPEB liability, calculated using the discount rate disclosed in the preceding section, as well as what the City’s net OPEB liability would be if it were calculated using a discount rate one percentage point lower or one percentage point higher than the current discount rate: Sensitivity of Net OPEB Liability at Current Single Discount Rate Rates Amounts 1% Increase in Discount Rate 5.08% $62,118 Current Discount Rate 4.08% $67,498 1% Decrease in Discount Rate 3.08% $73,439 The following presents the net OPEB liability, calculated using the healthcare cost trend rates disclosed in the preceding section, as well as what the City’s net OPEB liability would be if it were calculated using healthcare cost trend rates that are one percentage point lower or one percentage point higher than the current healthcare cost trend rates: Sensitivity of Net OPEB Liability at Current Healthcare Cost Trend Rate Amounts 1% Increase in Healthcare Trend Rates $77,376 Current Healthcare Trend Rates $67,498 1% Decrease in Healthcare Trend Rates $59,373 CITY OF LAKE ELMO, MINNESOTA NOTES TO THE BASIC FINANCIAL STATEMENTS DECEMBER 31, 2025 62 NOTE 6 OTHER NOTES 6.A. RISK MANAGEMENT Claims and Judgements The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. To manage these risks, the City purchases commercial insurance. The City retains risk for the deductible portions of the insurance. The amounts of these deductibles are considered immaterial to the financial statements. There were no significant reductions in insurance from the previous year settlements in excess of insurance for any of the past two years. Liabilities are reported when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. Liabilities, if any, include an amount for claims that have been incurred but not reported. The City’s management is not aware of any incurred but not reported claims. 6.B. OTHER EMPLOYEE BENEFITS The City provides eligible employees future retirement benefits through participation in the Minnesota Deferred Compensation Plan (MNDCP), which is a Section 457 plan administered by the Minnesota State Retirement System. Eligible employees of the City may begin participating in the MNDCP commencing on the date of their employment by electing to have a portion of their pay contributed to the Plan. Certain employees are eligible to receive a City match of employee contributions up to the qualifying amounts set forth in their employment contracts, and there are no vesting requirements related to such contributions. The City’s contributions to the plan total $3,299 for the year ended December 31, 2025. 6.C. COMMITMENTS During the year, the City entered into a contract for a 2027 F-009 Fire Truck purchase totaling $1,120,924. 6.D. CONTINGENCIES The City has received notice from the Minnesota Department of Natural Resources (DNR) indicating that the volume of water being drawn from City wells has exceeded the amount appropriated to the City under the corresponding permit. The City is currently pursuing options for obtaining an increase to this appropriation but may be subject to fines imposed by the DNR. At this time, the range of such fines cannot be reasonably determined. 6.E. SUBSEQUENT EVENTS Subsequent to year end but prior to the issuance of these financial statements, the City accepted bids for two construction projects, totaling $2,257,791. 63 REQUIRED SUPPLEMENTARY INFORMATION CITY OF LAKE ELMO, MINNESOTA BUDGETARY COMPARISON SCHEDULE – GENERAL FUND FOR THE YEAR ENDED DECEMBER 31, 2025 64 Actual Variance with Amounts Budget Budgetary Over Original Final Basis (Under) REVENUES Taxes Property Taxes 5,588,958$ 5,588,958$ 5,424,661$ (164,297)$ Franchise Fees 65,000 65,000 85,459 20,459 Gravel Tax - - 62 62 Total Taxes 5,653,958 5,653,958 5,510,182 (143,776) Licenses and Permits 1,011,995 1,011,995 1,687,800 675,805 Intergovernmental Revenue State Revenue Market Value Credit - - 4,975 4,975 Police and Fire Aid - - 171,565 171,565 Other State Grants and Aids 222,835 222,835 453,978 231,143 County Revenue Other County Grants and Aids 17,273 17,273 43,219 25,946 Total Intergovernmental Revenue 240,108 240,108 673,737 433,629 Charges for Services General Government 285,712 285,712 337,665 51,953 Other Public Safety 487,500 487,500 839,724 352,224 Streets and Highways 2,000 2,000 4,345 2,345 Total Charges for Services 775,212 775,212 1,181,734 406,522 Fines and Forfeitures 30,000 30,000 66,081 36,081 Miscellaneous Revenue Investment Earnings (Losses)83,200 83,200 871,385 788,185 Lease Interest - - 62,512 62,512 Refunds and Reimbursements 5,500 5,500 6,622 1,122 Contributions and Donations 8,500 8,500 25,971 17,471 Other Miscellaneous 10,500 10,500 14,810 4,310 Total Miscellaneous Revenue 107,700 107,700 981,300 873,600 TOTAL REVENUES 7,818,973 7,818,973 10,100,834 2,281,861 Budgeted Amounts CITY OF LAKE ELMO, MINNESOTA BUDGETARY COMPARISON SCHEDULE – GENERAL FUND (Continued) FOR THE YEAR ENDED DECEMBER 31, 2025 65 Actual Variance with Amounts Budget Budgetary Over Original Final Basis (Under) EXPENDITURES General Government Mayor and Council 73,328$ 73,328$ 96,285$ 22,957$ Administration and Finance 1,154,622 1,154,122 1,082,008 (72,114) Other General Government 676,533 678,533 589,768 (88,765) Total General Government 1,904,483 1,905,983 1,768,061 (137,922) Public Safety Police Current 1,396,730 1,395,230 1,379,916 (15,314) Fire Current 1,540,193 1,540,193 1,863,220 323,027 Building Inspections Current 1,084,079 1,084,079 1,094,060 9,981 Other Public Safety Current 69,000 69,000 76,937 7,937 Total Public Safety 4,090,002 4,088,502 4,414,133 325,631 Public Works Street Maintenance and Storm Sewers 1,113,817 1,113,817 1,033,949 (79,868) Snow and Ice Removal 15,000 15,000 13,420 (1,580) Street Engineering 20,000 20,000 30,447 10,447 Street Lighting 67,000 67,000 68,470 1,470 Total Public Works 1,215,817 1,215,817 1,146,286 (69,531) Culture and Recreation Parks and Recreation Current 687,512 687,512 472,294 (215,218) TOTAL EXPENDITURES 7,897,814 7,897,814 7,800,774 (97,040) EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (78,841) (78,841) 2,300,060 2,378,901 OTHER FINANCING SOURCES (USES) Sale of Assets 132,842 132,842 - (132,842) Transfers To Other Funds (19,000) (19,000) (19,000) - TOTAL OTHER FINANCING SOURCES (USES)113,842 113,842 (19,000) (132,842) NET CHANGE IN FUND BALANCE 35,001$ 35,001$ 2,281,060 2,246,059$ FUND BALANCE - BEGINNING 10,324,572 FUND BALANCE - ENDING 12,605,632$ Budgeted Amounts CITY OF LAKE ELMO, MINNESOTA SCHEDULE OF CITY’S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY LAST TEN YEARS 66 City's Proportionate Share of the Net City's Pension Liability Proportionate Plan City's State's and the State's Share of the Net Fiduciary Net Proportionate Proportionate Proportionate Pension Liability Position as a For the City's Share of the Share of the Net Share of the Net (Asset) as a Percentage Measurement Proportion of the Net Pension Pension Liability Pension Liability City's Percentage of of the Total Year Ended Net Pension Liability Associated with Associated with Covered its Covered Pension June 30, Liability (Asset) (Asset) (a) the City (b) the City (a+b) Payroll (c) Payroll ((a+b)/c) Liability General Employees Retirement Pension Plan 2025 0.0248%823,399$ 19,863$ 843,262$ 2,250,320$ 37.5%90.8% 2024 0.0232%858,774$ 22,206$ 880,980$ 2,013,373$ 43.8%89.1% 2023 0.0212%1,185,480$ 32,703$ 1,218,183$ 1,728,760$ 70.5%83.1% 2022 0.0232%1,837,447$ 53,688$ 1,891,135$ 1,776,733$ 106.4%76.7% 2021 0.0202%862,631$ 26,322$ 888,953$ 1,456,866$ 61.0%87.0% 2020 0.0207%1,241,060$ 38,201$ 1,279,261$ 1,476,621$ 86.6%79.1% 2019 0.0193%1,067,054$ 33,165$ 1,100,219$ 1,364,625$ 80.6%80.2% 2018 0.0191%1,059,590$ 34,710$ 1,094,300$ 1,283,088$ 85.3%79.5% 2017 0.0189%1,206,564$ 15,173$ 1,221,737$ 1,209,466$ 101.0%75.9% 2016 0.0159%1,291,001$ 16,853$ 1,307,854$ 1,041,540$ 125.6%68.9% Public Employees Police and Fire Pension Plan 2025 0.0509%596,286$ 20,670$ 616,956$ 772,379$ 79.9%91.8% 2024 0.0445%585,467$ 22,318$ 607,785$ 596,169$ 101.9%90.2% 2023 0.0244%421,356$ 16,984$ 438,340$ 301,836$ 145.2%86.5% 2022 0.0256%1,114,011$ 48,633$ 1,162,644$ 292,842$ 397.0%70.5% 2021 0.0165%127,363$ 5,712$ 133,075$ 194,379$ 68.5%93.7% 2020 0.0171%225,396$ 5,309$ 230,705$ 194,511$ 118.6%87.2% 2019 0.0193%205,468$ 2,605$ 208,073$ 203,030$ 102.5%89.3% 2018 0.0163%173,741$ 1,467$ 175,208$ 172,287$ 101.7%88.8% 2017 0.0100%135,012$ -$ 135,012$ 105,846$ 127.6%85.4% 2016 0.0090%361,186$ -$ 361,186$ 87,111$ 414.6%63.9% CITY OF LAKE ELMO, MINNESOTA SCHEDULE OF CITY PENSION CONTRIBUTIONS LAST TEN YEARS 67 Contributions in Relation to the Contributions as For the Fiscal Statutorily Statutorily Contribution City's a Percentage of Year Ended Required Required Deficiency Covered Covered December 31, Contribution Contribution (Excess) Payroll Payroll General Employees Retirement Pension Plan 2025 171,776$ 171,776$ -$ 2,290,347$ 7.5% 2024 164,366$ 164,366$ -$ 2,191,547$ 7.5% 2023 135,093$ 135,093$ -$ 1,801,240$ 7.5% 2022 132,383$ 132,383$ -$ 1,765,107$ 7.5% 2021 120,362$ 120,362$ -$ 1,609,407$ 7.5% 2020 109,289$ 109,289$ -$ 1,457,195$ 7.5% 2019 108,779$ 108,779$ -$ 1,450,387$ 7.5% 2018 96,960$ 96,960$ -$ 1,294,100$ 7.5% 2017 95,794$ 95,794$ -$ 1,276,944$ 7.5% 2016 85,649$ 85,649$ -$ 1,141,987$ 7.5% Public Employees Police and Fire Pension Plan 2025 144,921$ 144,921$ -$ 818,763$ 17.7% 2024 123,614$ 123,614$ -$ 698,384$ 17.7% 2023 72,744$ 72,744$ -$ 410,983$ 17.7% 2022 49,674$ 49,674$ -$ 280,644$ 17.7% 2021 47,658$ 47,658$ -$ 269,254$ 17.7% 2020 27,492$ 27,492$ -$ 155,365$ 17.7% 2019 39,225$ 39,225$ -$ 231,416$ 16.9% 2018 30,990$ 30,990$ -$ 191,350$ 16.2% 2017 20,327$ 20,327$ -$ 125,475$ 16.2% 2016 13,967$ 13,967$ -$ 86,216$ 16.2% Statewide Volunteer Firefighter Pension Plan 2025 -$ -$ -$ N/A N/A 2024 -$ -$ -$ N/A N/A 2023 -$ -$ -$ N/A N/A 2022 -$ -$ -$ N/A N/A 2021 -$ 76,608$ (76,608)$ N/A N/A 2020 -$ 69,975$ (69,975)$ N/A N/A 2019 -$ 65,533$ (65,533)$ N/A N/A 2018 -$ 61,147$ (61,147)$ N/A N/A 2017 -$ 59,136$ (59,136)$ N/A N/A 2016 -$ 61,166$ (61,166)$ N/A N/A CITY OF LAKE ELMO, MINNESOTA SCHEDULE OF CHANGES IN NET PENSION LIABILITY (ASSET) FIREFIGHTERS RELEIF ASSOCIATION LAST TEN YEARS 68 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Changes in Total Pension Liability (TPL) Balance at January 1st 742,166$ 708,203$ 864,850$ 775,033$ 724,844$ 898,899$ 681,802$ 618,531$ 588,689$ 714,621$ Adjustment for Transition to SVF 181,960 - - - - - - - - - Service Cost 90,387 39,919 47,844 46,677 38,225 37,293 28,420 27,727 27,579 28,520 Interest on the TPL 59,664 41,648 45,031 43,140 39,743 42,177 36,119 35,544 36,976 37,130 Assumption Changes - - (15,405) - - - 8,730 - 11,690 - Plan Changes - - - - - - 325,127 - - - Gain or Loss - - (124,184) - (27,779) - (80,312) - (46,403) - Benefit Payments (40,215) (47,604) (109,933) - - (253,525) (100,987) - - (191,582) Balance at December 31st 1,033,962$ 742,166$ 708,203$ 864,850$ 775,033$ 724,844$ 898,899$ 681,802$ 618,531$ 588,689$ Plan Fiduciary Net Position (PFNP) Balance at January 1st 1,398,841$ 1,273,445$ 1,462,205$ 1,280,455$ 1,097,917$ 1,169,306$ 1,279,379$ 1,075,446$ 963,628$ 1,155,598$ Adjustment for Transition to SVF (56,775) - - - - - - - - - Fire State Aid 117,613 118,613 101,778 80,470 76,608 69,975 65,533 61,147 59,136 61,166 Municipal Contributions 34,500 - - - - - - - - - Projected Investment Income 83,822 75,039 76,145 68,948 - - - - - - Gain or Loss 61,531 (12,802) (241,246) 47,138 118,822 127,902 (61,227) 156,879 70,101 (48,240) Total Additions 240,691 180,850 (63,323) 196,556 195,430 197,877 4,306 218,026 129,237 12,926 Benefit Payments (40,215) (47,604) (109,933) - - (253,525) (100,987) - - (191,582) Administrative Expenses (1,980) (7,850) (15,504) (14,806) (12,892) (15,741) (13,392) (14,093) (17,419) (13,314) Total Reductions (42,195) (55,454) (125,437) (14,806) (12,892) (269,266) (114,379) (14,093) (17,419) (204,896) Balance at December 31st 1,597,337$ 1,398,841$ 1,273,445$ 1,462,205$ 1,280,455$ 1,097,917$ 1,169,306$ 1,279,379$ 1,075,446$ 963,628$ Net Pension Liability (Asset) - December 31st (563,375)$ (656,675)$ (565,242)$ (597,355)$ (505,422)$ (373,073)$ (270,407)$ (597,577)$ (456,915)$ (374,939)$ PFNP as a Percentage of TPL 154%188%180%169%165%151%130%188%174%164% Measurement Period Ending December 31, CITY OF LAKE ELMO, MINNESOTA SCHEDULE OF CHANGES IN CITY’S NET OPEB LIABILITY LAST TEN YEARS (Presented Prospectively) 69 2024 2023 2022 2021 2020 2019 2018 2017 Changes in Total OPEB Liability (TOL) Balance at January 1st 61,992$ 89,125$ 96,581$ 99,789$ 79,303$ 73,788$ 63,930$ 51,220$ Service Cost 9,208 11,395 14,941 15,989 13,859 9,793 9,525 8,200 Interest on the TPL 2,599 3,919 1,987 2,300 2,541 3,101 2,431 2,264 Assumption Changes (1,780) (56,222) (17,298) (4,833) 5,583 6,912 (2,098) 2,246 Differences Between Expected and Actual Experience - 21,261 - (15,088) - (14,291) - - Benefit Payments (4,521) (7,486) (7,086) (1,576) (1,497) - - - Balance at December 31st 67,498$ 61,992$ 89,125$ 96,581$ 99,789$ 79,303$ 73,788$ 63,930$ Covered Payroll for Active Members 2,900,739$ 2,146,050$ 1,996,038$ 1,743,100$ 1,455,967$ 1,831,326$ 1,605,997$ 1,483,782$ Net OPEB Liability / Covered Payroll 2.3%2.9%4.5%5.5%6.9%4.3%4.6%4.3% Measurement Year Ended December 31, Note: The schedule is provided prospectively beginning with the City’s fiscal year ended December 31, 2018 (December 31, 2017 measurement date) and is intended to show a ten year trend. Additional years will be reported as they become available. CITY OF LAKE ELMO, MINNESOTA SCHEDULE OF CITY OPEB CONTRIBUTIONS LAST TEN YEARS (Presented Prospectively) 70 Contributions in Relation to the Contributions as For the Contractually Contractually Contribution City's a Percentage of Year Ended Required Required Deficiency Covered Covered December 31, Contribution Contribution (Excess) Payroll Payroll Other Post-Employment Benefits 2025 -$ -$ -$ 2,987,761$ 0.00% 2024 -$ -$ -$ 2,900,739$ 0.00% 2023 -$ -$ -$ 2,146,050$ 0.00% 2022 -$ -$ -$ 1,996,038$ 0.00% 2021 -$ -$ -$ 1,743,100$ 0.00% 2020 -$ -$ -$ 1,455,967$ 0.00% 2019 -$ -$ -$ 1,831,326$ 0.00% 2018 -$ -$ -$ 1,605,997$ 0.00% 2017 -$ -$ -$ 1,483,782$ 0.00% Note: The schedule is provided prospectively beginning with the City’s fiscal year ended December 31, 2017 and is intended to show a ten year trend. Additional years will be reported as they become available. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 71 NOTE 1 PUBLIC EMPLOYEES RETIREMENT PLAN – GENERAL EMPLOYEES FUND 2025 Changes Changes in Actuarial Assumptions • The combined service annuity loading factors increased from 15 percent to 19 percent for vested terminated members and from 3 percent to 44 percent for non-vested, terminated members. • The assumed post-retirement benefit increase changed from 1.25 percent to 1.5 percent. Changes in Plan Provisions • The post-retirement benefit increase formula changed to 100 percent of the Social Security annual increase, between 1 percent and 1.75 percent, beginning January 1, 2026. If the funded ratio (on a market value of assets basis) is less than 85 percent for the last two consecutive annual valuations or is less than 80 percent in the most recent actuarial valuation, the maximum is reduced to 1.5 percent. Previously, the benefit increase was 50 percent of the Social Security annual increase, between 1 percent and 1.5 percent. • The 1 percent additional employer contribution is eliminated when the plan reaches 98 percent funded status (on an actuarial value of assets basis); this contribution was previously scheduled to stop when the plan reached 100 percent funded status. 2024 Changes Changes in Actuarial Assumptions • Rates of merit and seniority were adjusted, resulting in slightly higher rates. • Assumed rates of retirement were adjusted as follows: increase the rate of assumed unreduced retirements, slight adjustments to Rule of 90 retirement rates, and slight adjustments to early retirement rates for Tier 1 and Tier 2 members. • Minor increase in assumed withdrawals for males and females. • Lower rates of disability. • Continued use of Pub-2010 general mortality table with slight rate adjustments as recommended in the most recent experience study. • Minor changes to form of payment assumptions for male and female retirees. • Minor changes to assumptions made with respect to missing participant data. Changes in Plan Provisions • The workers’ compensation offset for disability benefits was eliminated. The actuarial equivalent factors updated to reflect the changes in assumptions. 2023 Changes Changes in Actuarial Assumptions • The investment return assumption and single discount rate were changed from 6.50 percent to 7.00 percent. Changes in Plan Provisions • An additional one-time direct state aid contribution of $170.1 million will be contributed to the Plan on October 1, 2023. • The vesting period of those hired after June 30, 2010, was changed from five years of allowable service to three years of allowable service. • The benefit increase delay for early retirements on or after January 1, 2024, was eliminated. • A one-time, non-compounding benefit increase of 2.50 percent minus the actual 2024 adjustment will be payable in a lump sum for calendar year 2024 by March 31, 2024. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 72 NOTE 1 PUBLIC EMPLOYEES RETIREMENT PLAN – GENERAL EMPLOYEES FUND (Continued) 2022 Changes Changes in Actuarial Assumptions • The mortality improvement scale was changed from Scale MP-2020 to Scale MP-2021. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2021 Changes Changes in Actuarial Assumptions • The investment return and single discount rates were changed from 7.50 percent to 6.50 percent, for financial reporting purposes. • The mortality improvement scale was changed from Scale MP-2019 to Scale MP-2020. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2020 Changes Changes in Actuarial Assumptions • The price inflation assumption was decreased from 2.50 percent to 2.25 percent. • The payroll growth assumption was decreased from 3.25 percent to 3.00 percent. • Assumed salary increase rates were changed as recommended in the June 30, 2019 experience study. The net effect is assumed rates that average 0.25 percent less than previous rates. • Assumed rates of retirement were changed as recommended in the June 30, 2019 experience study. The changes result in more unreduced (normal) retirements and slightly fewer Rule of 90 and early retirements. • Assumed rates of termination were changed as recommended in the June 30, 2019 experience study. The new rates are based on service and are generally lower than the previous rates for years 2-5 and slightly higher thereafter. • Assumed rates of disability were changed as recommended in the June 30, 2019 experience study. The change results in fewer predicted disability retirements for males and females. • The base mortality table for healthy annuitants and employees was changed from the RP-2014 table to the Pub-2010 General Mortality table, with adjustments. The base mortality table for disabled annuitants was changed from the RP- 2014 disabled annuitant mortality table to the PUB-2010 General/Teacher disabled annuitant mortality table, with adjustments. • The mortality improvement scale was changed from Scale MP-2018 to Scale MP-2019. • The assumed spouse age difference was changed from two years older for females to one year older. • The assumed number of married male new retirees electing the 100.00 percent Joint & Survivor option changed from 35.00 percent to 45.00 percent. The assumed number of married female new retirees electing the 100.00 percent Joint & Survivor option changed from 15.00 percent to 30.00 percent. The corresponding number of married new retirees electing the Life annuity option was adjusted accordingly. Changes in Plan Provisions • Augmentation for current privatized members was reduced to 2.00 percent for the period July 1, 2020 through December 31, 2023 and 0.00 percent after. Augmentation was eliminated for privatizations occurring after June 30, 2020. 2019 Changes Changes in Actuarial Assumptions • The mortality projection scale was changed from MP-2017 to MP-2018. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 73 NOTE 1 PUBLIC EMPLOYEES RETIREMENT PLAN – GENERAL EMPLOYEES FUND (Continued) Changes in Plan Provisions • The employer supplemental contribution was changed prospectively, decreasing from $31.0 million to $21.0 million per year. The State’s special funding contribution was changed prospectively, requiring $16.0 million due per year through 2031. 2018 Changes Changes in Actuarial Assumptions • The mortality projection scale was changed from MP-2015 to MP-2017. • The assumed benefit increase was changed from 1.00 percent per year through 2044 and 2.50 percent per year thereafter to 1.25 percent per year. Changes in Plan Provisions • The augmentation adjustment in early retirement factors is eliminated over a five-year period starting July 1, 2019, resulting in actuarial equivalence after June 30, 2024. • Interest credited on member contributions decreased from 4.00 percent to 3.00 percent, beginning July 1, 2018. • Deferred augmentation was changed to 0.00 percent, effective January 1, 2019. Augmentation that has already accrued for deferred members will still apply. • Contribution stabilizer provisions were repealed. • Annual increases were changed from 1.00 percent per year with a provision to increase to 2.50 percent upon attainment of 90.00 percent funding ratio to 50.00 percent of the Social Security Cost of Living Adjustment, not less than 1.00 percent and not more than 1.50 percent, beginning January 1, 2019. • For retirements on or after January 1, 2024, the first benefit increase is delayed until the retiree reaches normal retirement age; does not apply to Rule of 90 retirees, disability benefit recipients, or survivors. • Actuarial equivalent factors were updated to reflect revised mortality and interest assumptions. 2017 Changes Changes in Actuarial Assumptions • The combined service annuity (CSA) loads were changed from 0.80 percent for active members and 60.00 percent for vested and non-vested deferred members. The revised CSA load are now 0.00 percent for active member liability, 15.00 percent for vested deferred member liability, and 3.00 percent for non-vested deferred member liability. • The assumed annual increase rate was changed for 1.00 percent per year for all years to 1.00 percent per year through 2044 and 2.50 percent per year thereafter. Changes in Plan Provisions • The State’s contribution for the Minneapolis Employees Retirement Fund equals $16,000,000 in 2017 and 2018, and $6,000,000 thereafter. • The Employer Supplemental Contribution for the Minneapolis Employees Retirement Fund changed from $21,000,000 to $31,000,000 in calendar years 2019 to 2031. The State’s contribution changed from $16,000,000 to $6,000,000 in calendar years 2019 to 2031. 2016 Changes Changes in Actuarial Assumptions • The assumed annual increase rate was changed from 1.00 percent per year through 2035 and 2.50 percent per year thereafter to 1.00 percent per year for all years. • The assumed investment return was changed from 7.90 percent to 7.50 percent. The single discount rate changed from 7.90 percent to 7.50 percent. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 74 NOTE 1 PUBLIC EMPLOYEES RETIREMENT PLAN – GENERAL EMPLOYEES FUND (Continued) • Other assumptions were changed pursuant to the experience study dated June 30, 2015. The assumed future salary increases, payroll growth, and the inflation were decreased by 0.25 percent to 3.25 percent for payroll growth and 2.50 percent for inflation. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. NOTE 2 PUBLIC EMPLOYEES RETIREMENT PLAN – POLICE AND FIRE FUND 2025 Changes Changes in Actuarial Assumptions • Assumed rates of salary increases were reduced slightly. • Assumed rates of retirement were adjusted, resulting in an overall increase in unreduced (full) retirements and an overall increase in reduced (early) retirements. • Assumed rates of withdrawal were modified; the new rates will increase predicted terminations, especially in the first few years of employment. • Assumed rates of disabled retirement were significantly increased, especially for ages over age 30. • Continued used of Pub-2010 Public Safety Mortality Table with rates adjusted to better fit observed experience. • Percent married assumption for female retirees lowered from 70 percent to 65 percent. • Minor changes were made to form of payment assumptions for retirees. • Minor changes were made to assumptions made with respect to missing participant data. • The combined service annuity load changed from 33 percent to 13 percent for vested, terminated members and from 2 percent to 38 percent for non-vested, terminated members. Changes in Plan Provisions • The period of time needed for benefit recipients to receive their first benefit increase was reduced by one year (from 36 months to 24 months for a full increase). • The January 1, 2026 benefit increase changed from 1 percent to 3 percent; subsequent January 1 increases will be 1 percent. • The threshold to end the $9 million annual state aid contribution changed from the earlier of July 1, 2048 or 90 percent funded for both PERA Police & Fire and MSRS State Patrol for three consecutive years to 100 percent funded for both PERA Police & Fire and MSRS State Patrol for three consecutive years (on an actuarial value of assets basis). • The threshold to end the additional $9 million annual state aid contribution changed from the earlier of July 1, 2048 or 100 percent funded for a minimum of three consecutive years to 110 percent funded for a minimum of three consecutive years (on an actuarial value of assets basis). • An additional $17.7 million in direct state aid will be paid annually each October 1 beginning October 1, 2025 through June 30, 2048. • Join and survivor actuarial equivalent factors were updated to reflect changes in assumptions. 2024 Changes Changes in Actuarial Assumptions • There were no changes in actuarial assumptions since the previous valuation. Changes in Plan Provisions • The State contribution of $9.0 million per year will continue until the earlier of 1) both the Police & Fire Plan and the State Patrol Retirement Fund attain 90 percent funded status for three consecutive years (on an actuarial value of assets basis) or 2) July 1, 2048. The contribution was previously due to expire after attaining a 90 percent funded status for one year. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 75 NOTE 2 PUBLIC EMPLOYEES RETIREMENT PLAN – POLICE AND FIRE FUND (Continued) • The additional $9.0 million contribution will continue until the Police & Fire Plan is fully funded for a minimum of three consecutive years on an actuarial value of assets basis, or July 1, 2048, whichever is earlier. This contribution was previously due to expire upon attainment of fully funded status on an actuarial value of assets basis for one year (or July 1, 2048 if earlier). 2023 Changes Changes in Actuarial Assumptions • The investment return assumption was changed from 6.50 percent to 7.00 percent. • The single discount rate changed from 5.40 percent to 7.00 percent. Changes in Plan Provisions • Additional one-time direct state aid contribution of $19.4 million will be contributed to the Plan on October 1, 2023. • Vesting requirement for new hires after June 30, 2014, was changed from a graded 20-year vesting schedule to a graded 10-year vesting schedule, with 50.00 percent vesting after five years, increasing incrementally to 100.00 percent after 10 years. • A one-time, non-compounding benefit increase of 3.00 percent will be payable in a lump sum for calendar year 2024 by March 31, 2024. • Psychological treatment is required effective July 1, 2023, prior to approval for a duty disability benefit for a psychological condition relating to the member’s occupation. • The total and permanent duty disability benefit was increased, effective July 1, 2023. 2022 Changes Changes in Actuarial Assumptions • The mortality improvement scale was changed from Scale MP-2020 to Scale MP-2021. • The single discount rate changed from 6.50 percent to 5.40 percent. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2021 Changes Changes in Actuarial Assumptions • The investment return and single discount rates were changed from 7.50 percent to 6.50 percent, for financial reporting purposes. • The inflation assumption was changed from 2.50 percent to 2.25 percent. • The payroll growth assumption was changed from 3.25 percent to 3.00 percent. • The base mortality table for healthy annuitants and employees was changed from the RP-2014 table to the Pub-2010 Public Safety Mortality table. The mortality improvement scale was changed from MP-2019 to MN-2020. • The base mortality table for disabled annuitants was changed from the RP-2014 healthy annuitant mortality table (with future mortality improvement according to Scale MP-2019) to the Pub-2010 Public Safety disabled annuitant mortality table (with future mortality improvement according to Scale MP-2020). • Assumed rates of salary increase were modified as recommended in the July 14, 2020 experience study. The overall impact is a decrease in gross salary increase rates. • Assumed rates of retirement were changed as recommended in the July 14, 2020 experience study. The changes result in slightly more unreduced retirements and fewer assumed early retirements. • Assumed rates of withdrawal were changed from select and ultimate rates to service-based rates. The changes result in more assumed terminations. • Assumed rates of disability were increased for ages 25-44 and decreased for ages over 49. Overall, proposed rates result in more projected disabilities. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 76 NOTE 2 PUBLIC EMPLOYEES RETIREMENT PLAN – POLICE AND FIRE FUND (Continued) • Assumed percent married for active female members was changed from 60.00 percent to 70.00 percent. Minor changes to form of payment assumptions were applied. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2020 Changes Changes in Actuarial Assumptions • The mortality projection scale was changed from MP-2018 to MP-2019. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2019 Changes Changes in Actuarial Assumptions • The mortality projection scale was changed from MP-2017 to MP-2018. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2018 Changes Changes in Actuarial Assumptions • The mortality projection scale was changed from MP-2016 to MP-2017. Changes in Plan Provisions • Annual increases were changed to 1.00 percent for all years, with no trigger. • An end date of July 1, 2048 was added to the existing $9.0 million state contribution. • New annual State aid will equal $4.5 million in fiscal years 2019 and 2020, and $9.0 million thereafter until the plan reaches 100 percent funding, or July 1, 2048, if earlier. • Member contributions were changed from 10.80 percent to 11.30 percent of pay, effective January 1, 2019 and 11.80 percent of pay, effective January 1, 2020. • Employer contributions were changed from 16.20 percent to 16.95 percent of pay, effective January 1, 2019 and 17.70 percent of pay, effective January 1, 2020. • Interest credited on member contributions decreased from 4.00 percent to 3.00 percent, beginning July 1, 2018. • Deferred augmentation was changed to 0.00 percent, effective January 1, 2019. Augmentation that has already accrued for deferred members will still apply. • Actuarial equivalent factors were updated to reflect revised mortality and interest assumptions. 2017 Changes Changes in Actuarial Assumptions • Assumed salary increases were changed as recommended in the June 30, 2016 experience study. The net effect is proposed rates that average 0.34 percent lower than the previous rates. • Assumed rates of retirement were changed, resulting in fewer retirements. • The Combined Service Annuity (CSA) load was 30.00 percent for vested and non-vested, deferred members. The CSA has been changed to 33.00 percent for vested members and 2.00 percent for non-vested members. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 77 NOTE 2 PUBLIC EMPLOYEES RETIREMENT PLAN – POLICE AND FIRE FUND (Continued) • The base mortality table for healthy annuitants was changed from the RP-2000 fully generational table to the RP-2014 fully generational table (with a base year of 2006), with male rates adjusted by a factor of 0.96. The mortality improvement scale was changed from Scale AA to Scale MP-2016. The base mortality table for disabled annuitants was changed from the RP-2000 disabled mortality table to the mortality tables assumed for healthy retirees. • Assumed termination rates were decreased to 3.00 percent for the first three years of service. Rates beyond the select period of three years were adjusted, resulting in more expected terminations overall. • Assumed percentage of married female members was decreased from 65.00 percent to 60.00 percent. • Assumed age difference was changed from separate assumptions for male members (wives assumed to be three years younger) and female members (husbands assumed to be four years older) to the assumption that males are two years older than females. • The assumed percentage of female members electing joint and survivor annuities was increased. • The assumed annual increase rate was changed from 1.00 percent for all years to 1.00 percent per year through 2064 and 2.50 percent thereafter. • The single discount rate was changed from 5.60 percent per annum to 7.50 percent per annum. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2016 Changes Changes in Actuarial Assumptions • The assumed annual benefit increase rate was changed from 1.00 percent per year through 2037 and 2.50 percent thereafter to 1.00 percent per year for all future years. • The assumed investment return was changed from 7.90 percent to 7.50 percent. • The single discount rate changed from 7.90 percent to 5.60 percent. • The assumed future salary increases, payroll growth, and inflation were decreased by 0.25 percent to 3.25 percent for payroll growth and 2.50 percent for inflation. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. NOTE 3 STATEWIDE VOLUNTEER FIREFIGHTER RETIREMENT PLAN 2024 Changes Changes in Actuarial Assumptions • Administrative Expenses were updated to $60 per participant beginning in plan year 2025. Changes in Plan Provisions • The benefit level changed from $7,000 per year of service in the December 31, 2024 valuation to $8,000 per year of service in this valuation. 2023 Changes Changes in Actuarial Assumptions • There were no changes in actuarial assumptions since the previous valuation. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 78 NOTE 3 STATEWIDE VOLUNTEER FIREFIGHTER RETIREMENT PLAN (Continued) 2022 Changes Changes in Actuarial Assumptions • The discount rate changed from 5.25 percent to 5.75 percent. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2021 Changes Changes in Actuarial Assumptions • There were no changes in actuarial assumptions since the previous valuation. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2020 Changes Changes in Actuarial Assumptions • There were no changes in actuarial assumptions since the previous valuation. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2019 Changes Changes in Actuarial Assumptions • There were no changes in actuarial assumptions since the previous valuation. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2018 Changes Changes in Actuarial Assumptions • There were no changes in actuarial assumptions since the previous valuation. Changes in Plan Provisions • The benefit level increased from $3,400 to $5,850 for each year of service. NOTE 4 OTHER POSTEMPLOYMENT BENEFIT PLAN 2025 Changes Changes in Actuarial Assumptions: • The discount rate was changed from 3.77 percent to 4.08 percent based on updated 20-year municipal bonds rates. Changes in Plan Provisions: • There were no changes in plan provisions since the prior valuation. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 79 NOTE 4 OTHER POSTEMPLOYMENT BENEFIT PLAN (Continued) 2024 Changes Changes in Actuarial Assumptions: • The discount rate was changed from 4.05 percent to 3.77 percent based on updated 20-year municipal bonds rates. • Healthcare trend rates were reset to reflect updated cost increase expectations. • Medical per capita claims costs were updated to reflect recent experience. • Withdrawal, mortality, and salary increase rates were added from the 7/1/2023 PERA Police & Fire Plan valuation for new Police & Fire employees. • The percent of future retirees assumed to elect coverage at retirement changed from 40 percent to 20 percent to reflect recent plan experience. Changes in Plan Provisions: • There were no changes in plan provisions since the prior valuation. 2023 Changes Changes in Actuarial Assumptions • The discount rate was changed from 1.84 percent to 4.05 percent based on updated 20-year municipal bonds rates. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2022 Changes Changes in Actuarial Assumptions • The discount rate was changed from 2.00 percent to 1.84 percent based on updated 20-year municipal bonds rates. • Healthcare trend rates were reset to reflect updated cost increase expectations. • Medical per capita claims costs were updated to reflect recent experience. • Withdrawal, mortality, and salary increase rates were updated from the rates used in the 7/1/2019 PERA General Employees Plan valuation to the rates used in the 7/1/2022 valuation. Changes in Plan Provisions • Retiree premiums were updated to current levels. 2021 Changes Changes in Actuarial Assumptions • The discount rate was changed from 2.75 percent to 2.00 percent. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2020 Changes Changes in Actuarial Assumptions • The discount rate was changed from 3.71 percent to 2.75 percent based on updated 20-year municipal bond rates. • Healthcare trend rates were reset to reflect updated cost increase expectations, including the repeal of the Affordable Care Act’s Excise Tax on high-cost health insurance plans. In addition, the medical trend rate adjustments to reflect the projected effect of the Affordable Care Act’s Excise Tax on high-cost health insurance plans was removed because the tax was repealed. • Medical per capita claims costs were updated to reflect recent experience. CITY OF LAKE ELMO, MINNESOTA NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION DECEMBER 31, 2025 80 NOTE 4 OTHER POSTEMPLOYMENT BENEFIT PLAN (Continued) • Salary increase rates were updated from the rates used in the July 1, 2017 PERA General Employees Plan valuation to the rates used in the July 1, 2019 valuation. • Mortality rates were updated from the RP-2014 tables to the rates used in the July 1, 2019 PERA General Employees Plan actuarial valuation. • The inflation assumption was changed from 2.75 percent to 2.50 percent based on an updated historical analysis of inflation rates and forward-looking market expectations. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 2019 Changes Changes in Actuarial Assumptions • The discount rate was changed from 3.31 percent to 3.71 percent. Changes in Plan Provisions • There were no changes in plan provisions since the previous valuation. 81 SUPPLEMENTARY INFORMATION CITY OF LAKE ELMO, MINNESOTA COMBINING BALANCE SHEET NONMAJOR GOVERMENTAL FUNDS DECEMBER 31, 2025 82 Total Nonmajor Special Revenue Funds Total Nonmajor Capital Project Funds Total Nonmajor Governmental Funds ASSETS Cash, Cash Equivalents, and Investments 108,676$ 9,367,785$ 9,476,461$ Assessments Receivable - 19,069 19,069 Accounts Receivable - 146,894 146,894 Interest Receivable 251 32,861 33,112 TOTAL ASSETS 108,927$ 9,566,609$ 9,675,536$ LIABILITIES Accounts Payable 883$ 259,045$ 259,928$ Construction Contracts Payable - 265,983 265,983 Due to Other Funds - 2,568,487 2,568,487 Unearned Revenue - 250,000 250,000 Total Liabilities 883 3,343,515 3,344,398 DEFERRED INFLOWS OF RESOURCES Unavailable Revenue: Special Assessments - 19,069 19,069 FUND BALANCES Restricted 7,215 5,868,506 5,875,721 Committed 37,322 - 37,322 Assigned 63,507 3,134,534 3,198,041 Unassigned - (2,799,015) (2,799,015) Total Fund Balances 108,044 6,204,025 6,312,069 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 108,927$ 9,566,609$ 9,675,536$ CITY OF LAKE ELMO, MINNESOTA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERMENTAL FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 83 Total Nonmajor Special Revenue Funds Total Nonmajor Capital Project Funds Total Nonmajor Governmental Funds REVENUES Property Taxes -$ 1,243,333$ 1,243,333$ Franchise Fees - 288,876 288,876 Special Assessments - 1,130 1,130 Intergovernmental - 20,333 20,333 Charges for Services 58,500 655,691 714,191 Investment Earnings (Losses)3,226 409,996 413,222 Miscellaneous 7,109 14,510 21,619 TOTAL REVENUES 68,835 2,633,869 2,702,704 EXPENDITURES Current: Public Safety - 9,244 9,244 Public Works - 4,487 4,487 Parks and Recreation - 192,540 192,540 Economic Development - 28 28 Capital Outlay 883 6,105,395 6,106,278 Debt Service: Interest and Other Charges - 44,926 44,926 TOTAL EXPENDITURES 883 6,356,620 6,357,503 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 67,952 (3,722,751) (3,654,799) OTHER FINANCING SOURCES (USES) Sale of Assets - 67,000 67,000 Bond Issuance - 2,025,000 2,025,000 Premium on Bond Issuance - 146,826 146,826 Transfers In - 1,349,749 1,349,749 Transfers Out - (2,000,000) (2,000,000) TOTAL OTHER FINANCING SOURCES (USES)- 1,588,575 1,588,575 NET CHANGE IN FUND BALANCES 67,952 (2,134,176) (2,066,224) FUND BALANCES - BEGINNING 40,092 6,750,582 6,790,674 (As Previously Reported) ADJUSTMENTS AND RESTATEMENTS Adjustment - Change in Major Funds - 1,587,619 1,587,619 FUND BALANCES - BEGINNING 40,092 8,338,201 8,378,293 (As Adjusted) FUND BALANCES - ENDING 108,044$ 6,204,025$ 6,312,069$ CITY OF LAKE ELMO, MINNESOTA COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS DECEMBER 31, 2025 84 Lions Park Sign Program Fund Economic Development Authority Fund Tree Fund Lawful Gambling Fund Total Nonmajor Special Revenue Funds ASSETS Cash, Cash Equivalents, and Investments 37,201$ 13,424$ 50,845$ 7,206$ 108,676$ Interest Receivable 121 46 75 9 251 TOTAL ASSETS 37,322$ 13,470$ 50,920$ 7,215$ 108,927$ LIABILITIES Accounts Payable -$ -$ 883$ -$ 883$ FUND BALANCES Restricted - - - 7,215 7,215 Committed 37,322 - - - 37,322 Assigned - 13,470 50,037 - 63,507 Total Fund Balances 37,322 13,470 50,037 7,215 108,044 TOTAL LIABILITIES AND FUND BALANCES 37,322$ 13,470$ 50,920$ 7,215$ 108,927$ CITY OF LAKE ELMO, MINNESOTA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 85 Lions Park Sign Program Fund Economic Development Authority Fund Tree Fund Lawful Gambling Fund Total Nonmajor Special Revenue Funds REVENUES Charges for Services 8,500$ -$ 50,000$ -$ 58,500$ Investment Earnings (Losses)1,583 617 920 106 3,226 Miscellaneous - - - 7,109 7,109 TOTAL REVENUES 10,083 617 50,920 7,215 68,835 EXPENDITURES Capital Outlay - - 883 - 883 NET CHANGE IN FUND BALANCES 10,083 617 50,037 7,215 67,952 FUND BALANCES - BEGINNING 27,239 12,853 - - 40,092 FUND BALANCES - ENDING 37,322$ 13,470$ 50,037$ 7,215$ 108,044$ CITY OF LAKE ELMO, MINNESOTA COMBINING BALANCE SHEET NONMAJOR CAPITAL PROJECT FUNDS DECEMBER 31, 2025 86 Park Dedication Fund Vehicle Acquisition Fund Heritage Farms Street & Utility Improvements Fund City Hall / Fire Station Bldg Project Fund Infrastructure Reserve Fund City Facilities Fund Manning & Hudson Future Stoplight Fund CSAH 13 Phase 2 Fund ASSETS Cash, Cash Equivalents, and Investments 2,655,654$ 937,252$ 253,553$ 1,551,460$ 902,337$ 107,430$ 290,316$ -$ Assessments Receivable - - - - 19,069 - - - Accounts Receivable - - - 14,510 66,192 - - - Interest Receivable 9,145 2,155 (6,088) 12,472 2,631 368 994 - TOTAL ASSETS 2,664,799$ 939,407$ 247,465$ 1,578,442$ 990,229$ 107,798$ 291,310$ -$ LIABILITIES Accounts Payable -$ -$ -$ 78,427$ 5,288$ -$ -$ -$ Construction Contracts Payable - - - - - - - - Due to Other Funds - - - - - - - 48,389 Unearned Revenue - - - - - - 250,000 - Total Liabilities - - - 78,427 5,288 - 250,000 48,389 DEFERRED INFLOWS OF RESOURCES Unavailable Revenue: Special Assessments - - - - 19,069 - - - FUND BALANCES Restricted 2,664,799 - 247,465 1,500,015 - - - - Assigned - 939,407 - - 965,872 107,798 41,310 - Unassigned - - - - - - - (48,389) Total Fund Balance 2,664,799 939,407 247,465 1,500,015 965,872 107,798 41,310 (48,389) TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 2,664,799$ 939,407$ 247,465$ 1,578,442$ 990,229$ 107,798$ 291,310$ -$ CITY OF LAKE ELMO, MINNESOTA COMBINING BALANCE SHEET (Continued) NONMAJOR CAPITAL PROJECT FUNDS DECEMBER 31, 2025 87 Railroad Crossing Improvements Fund Old Village Phases 5 & 6 Fund CSAH 15 Manning Avenue Phase 3 Fund Manning & Highway 36 Interchange Fund Tamarack Farm Estates Street Improvements Fund CSAH 15 Manning Avenue & 30th Street Fund TH36 Lake Elmo Avenue Improvements Fund 2022 Street Improvements Fund ASSETS Cash, Cash Equivalents, and Investments 141,567$ -$ -$ 2,796$ 133,961$ -$ -$ 385,132$ Assessments Receivable - - - - - - - - Accounts Receivable - - - - - - - - Interest Receivable 1,803 (463) - 10 922 - - 1,318 TOTAL ASSETS 143,370$ (463)$ -$ 2,806$ 134,883$ -$ -$ 386,450$ LIABILITIES Accounts Payable 4,663$ -$ -$ -$ -$ -$ 13,628$ -$ Construction Contracts Payable 27,306 - - - - - - - Due to Other Funds - 272,542 3,525 - - 14,113 39,958 - Unearned Revenue - - - - - - - - Total Liabilities 31,969 272,542 3,525 - - 14,113 53,586 - DEFERRED INFLOWS OF RESOURCES Unavailable Revenue: Special Assessments - - - - - - - - FUND BALANCES Restricted - - - - 134,883 - - 386,450 Assigned 111,401 - - 2,806 - - - - Unassigned - (273,005) (3,525) - - (14,113) (53,586) - Total Fund Balance 111,401 (273,005) (3,525) 2,806 134,883 (14,113) (53,586) 386,450 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 143,370$ (463)$ -$ 2,806$ 134,883$ -$ -$ 386,450$ CITY OF LAKE ELMO, MINNESOTA COMBINING BALANCE SHEET (Continued) NONMAJOR CAPITAL PROJECT FUNDS DECEMBER 31, 2025 88 Old Village Phase 7 Fund 2023 Street Improvements Fund CSAH 15 (Manning Ave) Phase 3 Fund 2024 Street & Utility Improvement Fund Hudson Blvd Imp-Seg A- InwdHdrx Fund 15th Street N Improvement Fund 30th St N Gap Segmt Improvement Fund Fire Equipment & Project Fund ASSETS Cash, Cash Equivalents, and Investments -$ 282,901$ -$ 713,357$ -$ 62,280$ -$ 177,875$ Assessments Receivable - - - - - - - - Accounts Receivable - - - - - - - - Interest Receivable - 968 - 2,391 2,632 213 - 780 TOTAL ASSETS -$ 283,869$ -$ 715,748$ 2,632$ 62,493$ -$ 178,655$ LIABILITIES Accounts Payable -$ -$ -$ -$ 94$ -$ -$ -$ Construction Contracts Payable - - - - 110,444 - - - Due to Other Funds 52,276 - 4,212 - 259,391 - 470,808 - Unearned Revenue - - - - - - - - Total Liabilities 52,276 - 4,212 - 369,929 - 470,808 - DEFERRED INFLOWS OF RESOURCES Unavailable Revenue: Special Assessments - - - - - - - - FUND BALANCES Restricted - - - 715,748 - - - - Assigned - 283,869 - - - 62,493 - 178,655 Unassigned (52,276) - (4,212) - (367,297) - (470,808) - Total Fund Balance (52,276) 283,869 (4,212) 715,748 (367,297) 62,493 (470,808) 178,655 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES -$ 283,869$ -$ 715,748$ 2,632$ 62,493$ -$ 178,655$ CITY OF LAKE ELMO, MINNESOTA COMBINING BALANCE SHEET (Continued) NONMAJOR CAPITAL PROJECT FUNDS DECEMBER 31, 2025 89 Street Maintenance Fund 2025 Street & Utility Imprvmts Fund Stillwater Area Sch Dist Util Fund City Center Reserve Fund Park Reserve - Levied/Franchise Fees Only Fund 2026 Street & Utility Improvements Fund Total Nonmajor Capital Project Funds ASSETS Cash, Cash Equivalents, and Investments 255,365$ 300,432$ -$ 34,296$ 179,821$ -$ 9,367,785$ Assessments Receivable - - - - - - 19,069 Accounts Receivable - - - - 66,192 - 146,894 Interest Receivable 211 258 - - 141 - 32,861 TOTAL ASSETS 255,576$ 300,690$ -$ 34,296$ 246,154$ -$ 9,566,609$ LIABILITIES Accounts Payable 95,103$ 10,872$ 2,361$ -$ -$ 48,609$ 259,045$ Construction Contracts Payable - 70,672 57,561 - - - 265,983 Due to Other Funds - - 1,299,473 - - 103,800 2,568,487 Unearned Revenue - - - - - - 250,000 Total Liabilities 95,103 81,544 1,359,395 - - 152,409 3,343,515 DEFERRED INFLOWS OF RESOURCES Unavailable Revenue: Special Assessments - - - - - - 19,069 FUND BALANCES Restricted - 219,146 - - - - 5,868,506 Assigned 160,473 - - 34,296 246,154 - 3,134,534 Unassigned - - (1,359,395) - - (152,409) (2,799,015) Total Fund Balance 160,473 219,146 (1,359,395) 34,296 246,154 (152,409) 6,204,025 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 255,576$ 300,690$ -$ 34,296$ 246,154$ -$ 9,566,609$ CITY OF LAKE ELMO, MINNESOTA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR CAPITAL PROJECT FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 90 Park Dedication Fund Vehicle Acquisition Fund Heritage Farms Street & Utility Improvements Fund City Hall / Fire Station Bldg Project Fund Infrastructure Reserve Fund City Facilities Fund REVENUES Property Taxes -$ 400,000$ -$ -$ 93,333$ -$ Franchise Fees - - - - 144,438 - Special Assessments - - - - 1,130 - Intergovernmental - - - - 20,333 - Charges for Services 655,691 - - - - - Investment Earnings (Losses)124,982 32,238 4,682 82,575 35,061 4,931 Miscellaneous - - - 14,510 - - TOTAL REVENUES 780,673 432,238 4,682 97,085 294,295 4,931 EXPENDITURES Current: Public Safety - - - - - - Public Works - - - - - - Parks and Recreation 176,836 - - - - - Economic Development - - - - 28 - Capital Outlay 124,382 257,149 - 59,531 22,423 - Debt Service: Interest and Other Charges - - - - - - TOTAL EXPENDITURES 301,218 257,149 - 59,531 22,451 - EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 479,455 175,089 4,682 37,554 271,844 4,931 OTHER FINANCING SOURCES (USES) Sale of Assets - 67,000 - - - - Bond Issuance - - - - - - Premium on Bond Issuance - - - - - - Transfers In - - - - - - Transfers Out (1,000,000) - - - - - TOTAL OTHER FINANCING SOURCES (USES)(1,000,000) 67,000 - - - - NET CHANGE IN FUND BALANCES (520,545) 242,089 4,682 37,554 271,844 4,931 FUND BALANCES - BEGINNING 3,185,344 697,318 242,783 1,462,461 694,028 102,867 (As Previously Reported) ADJUSTMENTS AND RESTATEMENTS Adjustment - Change in Major Funds - - - - - - FUND BALANCES - BEGINNING 3,185,344 697,318 242,783 1,462,461 694,028 102,867 (As Adjusted) FUND BALANCES - ENDING 2,664,799$ 939,407$ 247,465$ 1,500,015$ 965,872$ 107,798$ CITY OF LAKE ELMO, MINNESOTA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (Continued) NONMAJOR CAPITAL PROJECT FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 91 Manning & Hudson Future Stoplight Fund CSAH 13 Phase 2 Fund Railroad Crossing Improvements Fund Old Village Phases 5 & 6 Fund CSAH 15 Manning Avenue Phase 3 Fund Manning & Highway 36 Interchange Fund REVENUES Property Taxes -$ -$ -$ -$ -$ -$ Franchise Fees - - - - - - Special Assessments - - - - - - Intergovernmental - - - - - - Charges for Services - - - - - - Investment Earnings (Losses)13,326 - 22,065 (463) - 129 Miscellaneous - - - - - - TOTAL REVENUES 13,326 - 22,065 (463) - 129 EXPENDITURES Current: Public Safety - - - - - - Public Works - - - - - - Parks and Recreation - - - - - - Economic Development - - - - - - Capital Outlay - - 855,213 - - - Debt Service: Interest and Other Charges - - - - - - TOTAL EXPENDITURES - - 855,213 - - - EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 13,326 - (833,148) (463) - 129 OTHER FINANCING SOURCES (USES) Sale of Assets - - - - - - Bond Issuance - - - - - - Premium on Bond Issuance - - - - - - Transfers In - - 1,000,000 - - - Transfers Out - - - - - - TOTAL OTHER FINANCING SOURCES (USES)- - 1,000,000 - - - NET CHANGE IN FUND BALANCES 13,326 - 166,852 (463) - 129 FUND BALANCES - BEGINNING 27,984 (48,389) (55,451) (272,542) (3,525) 2,677 (As Previously Reported) ADJUSTMENTS AND RESTATEMENTS Adjustment - Change in Major Funds - - - - - - FUND BALANCES - BEGINNING 27,984 (48,389) (55,451) (272,542) (3,525) 2,677 (As Adjusted) FUND BALANCES - ENDING 41,310$ (48,389)$ 111,401$ (273,005)$ (3,525)$ 2,806$ CITY OF LAKE ELMO, MINNESOTA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (Continued) NONMAJOR CAPITAL PROJECT FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 92 Tamarack Farm Estates Street Improvements Fund CSAH 15 Manning Avenue & 30th Street Fund TH36 Lake Elmo Avenue Improvements Fund 2022 Street Improvements Fund Old Village Phase 7 Fund 2023 Street Improvements Fund REVENUES Property Taxes -$ -$ -$ -$ -$ -$ Franchise Fees - - - - - - Special Assessments - - - - - - Intergovernmental - - - - - - Charges for Services - - - - - - Investment Earnings (Losses)6,614 - - 17,678 93 13,267 Miscellaneous - - - - - - TOTAL REVENUES 6,614 - - 17,678 93 13,267 EXPENDITURES Current: Public Safety - - - - - - Public Works - - - - - - Parks and Recreation - - - - - - Economic Development - - - - - - Capital Outlay - - 41,996 - 6,806 - Debt Service: Interest and Other Charges - - - - - - TOTAL EXPENDITURES - - 41,996 - 6,806 - EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 6,614 - (41,996) 17,678 (6,713) 13,267 OTHER FINANCING SOURCES (USES) Sale of Assets - - - - - - Bond Issuance - - - - - - Premium on Bond Issuance - - - - - - Transfers In - - - - - - Transfers Out - - - - - - TOTAL OTHER FINANCING SOURCES (USES)- - - - - - NET CHANGE IN FUND BALANCES 6,614 - (41,996) 17,678 (6,713) 13,267 FUND BALANCES - BEGINNING 128,269 (14,113) (11,590) 368,772 (45,563) 270,602 (As Previously Reported) ADJUSTMENTS AND RESTATEMENTS Adjustment - Change in Major Funds - - - - - - FUND BALANCES - BEGINNING 128,269 (14,113) (11,590) 368,772 (45,563) 270,602 (As Adjusted) FUND BALANCES - ENDING 134,883$ (14,113)$ (53,586)$ 386,450$ (52,276)$ 283,869$ CITY OF LAKE ELMO, MINNESOTA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (Continued) NONMAJOR CAPITAL PROJECT FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 93 CSAH 15 (Manning Ave) Phase 3 Fund 2024 Street & Utility Improvement Fund Hudson Blvd Imp-Seg A- InwdHdrx Fund 15th Street N Improvement Fund 30th St N Gap Segmt Improvement Fund Fire Equipment & Project Fund REVENUES Property Taxes -$ -$ -$ -$ -$ -$ Franchise Fees - - - - - - Special Assessments - - - - - - Intergovernmental - - - - - - Charges for Services - - - - - - Investment Earnings (Losses)- 28,848 4,160 2,605 - 9,523 Miscellaneous - - - - - - TOTAL REVENUES - 28,848 4,160 2,605 - 9,523 EXPENDITURES Current: Public Safety - - - - - 9,244 Public Works - - - - - 2,730 Parks and Recreation - - - - - - Economic Development - - - - - - Capital Outlay 112 12,287 590,638 389 671 184,341 Debt Service: Interest and Other Charges - - - - - - TOTAL EXPENDITURES 112 12,287 590,638 389 671 196,315 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (112) 16,561 (586,478) 2,216 (671) (186,792) OTHER FINANCING SOURCES (USES) Sale of Assets - - - - - - Bond Issuance - - - - - - Premium on Bond Issuance - - - - - - Transfers In - 330,749 - - - 19,000 Transfers Out - - (1,000,000) - - - TOTAL OTHER FINANCING SOURCES (USES)- 330,749 (1,000,000) - - 19,000 NET CHANGE IN FUND BALANCES (112) 347,310 (1,586,478) 2,216 (671) (167,792) FUND BALANCES - BEGINNING (4,100) - - 60,277 (470,137) 346,447 (As Previously Reported) ADJUSTMENTS AND RESTATEMENTS Adjustment - Change in Major Funds - 368,438 1,219,181 - - - FUND BALANCES - BEGINNING (4,100) 368,438 1,219,181 60,277 (470,137) 346,447 (As Adjusted) FUND BALANCES - ENDING (4,212)$ 715,748$ (367,297)$ 62,493$ (470,808)$ 178,655$ CITY OF LAKE ELMO, MINNESOTA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (Continued) NONMAJOR CAPITAL PROJECT FUNDS FOR THE YEAR ENDED DECEMBER 31, 2025 94 Street Maintenance Fund 2025 Street & Utility Imprvmts Fund Stillwater Area Sch Dist Util Fund City Center Reserve Fund Park Reserve - Levied/ Franchise Fees Only Fund 2026 Street & Utility Improvements Fund Total Nonmajor Capital Project Funds REVENUES Property Taxes 600,000$ -$ -$ 50,000$ 100,000$ -$ 1,243,333$ Franchise Fees - - - - 144,438 - 288,876 Special Assessments - - - - - - 1,130 Intergovernmental - - - - - - 20,333 Charges for Services - - - - - - 655,691 Investment Earnings (Losses)2,823 3,143 - - 1,716 - 409,996 Miscellaneous - - - - - - 14,510 TOTAL REVENUES 602,823 3,143 - 50,000 246,154 - 2,633,869 EXPENDITURES Current: Public Safety - - - - - - 9,244 Public Works 672 712 169 - - 204 4,487 Parks and Recreation - - - 15,704 - - 192,540 Economic Development - - - - - - 28 Capital Outlay 590,097 1,847,929 1,359,226 - - 152,205 6,105,395 Debt Service: Interest and Other Charges - 44,926 - - - - 44,926 TOTAL EXPENDITURES 590,769 1,893,567 1,359,395 15,704 - 152,409 6,356,620 EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 12,054 (1,890,424) (1,359,395) 34,296 246,154 (152,409) (3,722,751) OTHER FINANCING SOURCES (USES) Sale of Assets - - - - - - 67,000 Bond Issuance - 2,025,000 - - - - 2,025,000 Premium on Bond Issuance - 146,826 - - - - 146,826 Transfers In - - - - - - 1,349,749 Transfers Out - - - - - - (2,000,000) TOTAL OTHER FINANCING SOURCES (USES)- 2,171,826 - - - - 1,588,575 NET CHANGE IN FUND BALANCES 12,054 281,402 (1,359,395) 34,296 246,154 (152,409) (2,134,176) FUND BALANCES - BEGINNING 148,419 (62,256) - - - - 6,750,582 (As Previously Reported) ADJUSTMENTS AND RESTATEMENTS Adjustment - Change in Major Funds - - - - - - 1,587,619 FUND BALANCES - BEGINNING 148,419 (62,256) - - - - 8,338,201 (As Adjusted) FUND BALANCES - ENDING 160,473$ 219,146$ (1,359,395)$ 34,296$ 246,154$ (152,409)$ 6,204,025$ CITY OF LAKE ELMO, MINNESOTA SUPPLEMENTAL COMBINING BALANCE SHEET DEBT SERVICE FUND DECEMBER 31, 2025 95 2010B GO CIP Bonds Fund 2012B GO Improvement Bonds Fund 2014A GO Improvement Bonds Fund 2015A GO Improvement Bonds Fund 2016A GO Improvement Bonds Fund 2017A GO Improvement Bonds Fund 2019 Improvement Bonds Fund ASSETS Cash, Cash Equivalents, and Investments 42,817$ (22,588)$ 984,540$ (161,071)$ 640,428$ (151,625)$ 817,137$ Assessments Receivable - 798 752 87,616 313,274 280,426 164,607 Interest Receivable 147 - 3,025 - 1,797 - 2,348 TOTAL ASSETS 42,964$ (21,790)$ 988,317$ (73,455)$ 955,499$ 128,801$ 984,092$ DEFERRED INFLOWS OF RESOURCES Unavailable Revenue: Special Assessments -$ 798$ 438$ 87,598$ 312,155$ 277,263$ 164,607$ FUND BALANCE Restricted 42,964 (22,588) 987,879 (161,053) 643,344 (148,462) 819,485 TOTAL DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE 42,964$ (21,790)$ 988,317$ (73,455)$ 955,499$ 128,801$ 984,092$ CITY OF LAKE ELMO, MINNESOTA SUPPLEMENTAL COMBINING BALANCE SHEET (Continued) DEBT SERVICE FUND DECEMBER 31, 2025 96 ASSETS Cash, Cash Equivalents, and Investments Assessments Receivable Interest Receivable TOTAL ASSETS DEFERRED INFLOWS OF RESOURCES Unavailable Revenue: Special Assessments FUND BALANCE Restricted TOTAL DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE 2018A GO Equipment Cert. Bonds Fund 2021A GO Improvement Bonds Fund 2022A GO Improvement Bonds Fund 2023A GO Improvement Bonds Fund 2024A GO Improvement Bonds Fund 2025A GO Improvement Bonds Fund Total Debt Service Fund 52,157$ 1,969,237$ 56,582$ 725,823$ 910,738$ 234,517$ 6,098,692$ - 933,603 223,202 614,714 619,030 349,600 3,587,622 37 5,251 - 1,864 2,377 202 17,048 52,194$ 2,908,091$ 279,784$ 1,342,401$ 1,532,145$ 584,319$ 9,703,362$ -$ 933,603$ 223,186$ 614,713$ 618,528$ 349,600$ 3,582,489$ 52,194 1,974,488 56,598 727,688 913,617 234,719 6,120,873 52,194$ 2,908,091$ 279,784$ 1,342,401$ 1,532,145$ 584,319$ 9,703,362$ CITY OF LAKE ELMO, MINNESOTA SUPPLEMENTAL COMBINING SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE DEBT SERVICE FUND FOR THE YEAR ENDED DECEMBER 31, 2025 97 2010B GO CIP Bonds Fund 2012B GO Improvement Bonds Fund 2014A GO Improvement Bonds Fund 2015A GO Improvement Bonds Fund 2016A GO Improvement Bonds Fund 2017A GO Improvement Bonds Fund 2019 Improvement Bonds Fund REVENUES Property Taxes -$ -$ 183,303$ -$ 186,899$ 362,868$ 294,618$ Special Assessments - 299 49,531 38,338 68,554 50,953 34,391 Investment Earnings (Losses)2,358 - 40,434 - 24,182 - 31,392 TOTAL REVENUES 2,358 299 273,268 38,338 279,635 413,821 360,401 EXPENDITURES Current: Economic Development - 6 87 48 264 207 117 Debt Service: Principal 190,000 - 145,000 160,000 280,000 475,000 295,000 Interest and Other Charges 3,040 - 27,245 6,620 14,793 43,058 44,590 TOTAL EXPENDITURES 193,040 6 172,332 166,668 295,057 518,265 339,707 NET CHANGE IN FUND BALANCE (190,682) 293 100,936 (128,330) (15,422) (104,444) 20,694 FUND BALANCE - BEGINNING 233,646 (22,881) 886,943 (32,723) 658,766 (44,018) 798,791 FUND BALANCE - ENDING 42,964$ (22,588)$ 987,879$ (161,053)$ 643,344$ (148,462)$ 819,485$ CITY OF LAKE ELMO, MINNESOTA SUPPLEMENTAL COMBINING SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE (Continued) DEBT SERVICE FUND FOR THE YEAR ENDED DECEMBER 31, 2025 98 REVENUES Property Taxes Special Assessments Investment Earnings (Losses) TOTAL REVENUES EXPENDITURES Current: Economic Development Debt Service: Principal Interest and Other Charges TOTAL EXPENDITURES NET CHANGE IN FUND BALANCE FUND BALANCE - BEGINNING FUND BALANCE - ENDING 2018A GO Equipment Cert. Bonds Fund 2021A GO Improvement Bonds Fund 2022A GO Improvement Bonds Fund 2023A GO Improvement Bonds Fund 2024A GO Improvement Bonds Fund 2025A GO Improvement Bonds Fund Total Debt Service Fund 128,258$ 1,022,884$ 279,523$ 353,288$ 440,086$ -$ 3,251,727$ - 150,131 48,870 122,208 133,444 256,600 953,319 447 69,596 348 24,637 29,553 2,469 225,416 128,705 1,242,611 328,741 500,133 603,083 259,069 4,430,462 - 300 108 255 962 - 2,354 110,000 750,000 290,000 270,000 - - 2,965,000 10,665 314,594 182,887 156,124 192,462 24,350 1,020,428 120,665 1,064,894 472,995 426,379 193,424 24,350 3,987,782 8,040 177,717 (144,254) 73,754 409,659 234,719 442,680 44,154 1,796,771 200,852 653,934 503,958 - 5,678,193 52,194$ 1,974,488$ 56,598$ 727,688$ 913,617$ 234,719$ 6,120,873$ CITY OF LAKE ELMO, MINNESOTA SCHEDULE OF INDEBTEDNESS FOR THE YEAR ENDED DECEMBER 31, 2025 (UNAUDITED) 99 Initial Outstanding Outstanding Principal Issue Interest Maturity Authorized Balance Balance Due Within Dates Rates Dates Issue 01/01/25 Issued Paid 12/31/25 One Year GOVERNMENTAL INDEBTEDNESS General Obligation Improvement Bonds 2010B G.O. Refunding Bonds 11/30/2010 1.00 - 3.20%2/1/2025 1,970,000$ 190,000$ -$ 190,000$ -$ -$ 2014A G.O. Improvement Bonds 7/15/2014 2.00 - 3.50%1/15/2030 2,850,000 930,000 - 145,000 785,000 150,000 2015A G.O. Improvement Bonds 8/13/2015 2.00 - 3.00%1/15/2026 1,620,000 325,000 - 160,000 165,000 165,000 2016A G.O. Improvement Bonds 6/8/2016 2.00%1/15/2027 2,690,000 855,000 - 280,000 575,000 285,000 2017A G.O. Improvement Bonds 6/8/2017 2.50%1/15/2028 4,565,000 1,940,000 - 475,000 1,465,000 485,000 2019A G.O. Improvement Bonds 10/24/2019 2.00 - 3.00%2/1/2035 2,860,000 1,795,000 - 295,000 1,500,000 300,000 2021A G.O. Improvement Bonds 12/7/2021 1.75 - 3.00%2/1/2042 15,675,000 14,195,000 - 750,000 13,445,000 770,000 2022A G.O. Improvement Bonds 8/16/2022 3.00 - 5.00%2/1/2038 3,895,000 3,700,000 - 205,000 3,495,000 215,000 2023A G.O. Improvement Bonds 7/6/2023 4.00 - 5.00%2/1/2034 3,410,000 3,410,000 - 270,000 3,140,000 285,000 2024A G.O. Improvement Bonds 8/15/2024 4.00 - 5.00%2/1/2039 4,195,000 4,195,000 - - 4,195,000 335,000 2025A G.O. Improvement Bonds 8/14/2025 4.00 - 5.00%2/1/2036 2,025,000 - 2,025,000 - 2,025,000 - 45,755,000 31,535,000 2,025,000 2,770,000 30,790,000 2,990,000 General Obligation Equipment Certificates 2018A G.O. Equipment Certificates 10/16/2018 2.70%2/1/2028 940,000 450,000 - 110,000 340,000 110,000 General Obligation Tax Abatement Bonds 2022A G.O. Tax Abatement Bonds 8/16/2022 3.00 - 5.00%2/1/2033 1,010,000 930,000 - 85,000 845,000 90,000 TOTAL GOVERNMENTAL DEBTS 47,705,000 32,915,000 2,025,000 2,965,000 31,975,000 3,190,000 BUSINESS-TYPE INDEBTEDNESS General Obligation Revenue Bonds 2012A G.O. Water Crossover Refunding Bonds 8/16/2012 2.00 - 2.50%12/1/2030 4,035,000 1,940,000 - 310,000 1,630,000 305,000 2014A G.O. Improvement Bonds 7/15/2014 2.00 - 3.50%1/15/2030 3,385,000 1,495,000 - 235,000 1,260,000 240,000 2015A G.O. Improvement Bonds 8/13/2015 2.00 - 3.00%1/15/2031 1,195,000 610,000 - 80,000 530,000 85,000 2016A G.O. Improvement Bonds 6/8/2016 2.00%1/15/2032 6,855,000 3,910,000 - 455,000 3,455,000 470,000 2017A G.O. Improvement Bonds 6/8/2017 2.50 - 3.00%1/15/2033 4,480,000 2,880,000 - 290,000 2,590,000 300,000 2019A G.O. Improvement Bonds 10/24/2019 2.00 - 3.00%2/1/2035 1,195,000 925,000 - 75,000 850,000 75,000 2021A G.O. Improvement Bonds 12/7/2021 1.75 - 3.00%2/1/2037 6,310,000 5,465,000 - 420,000 5,045,000 425,000 2022A G.O. Improvement Bonds 8/16/2022 3.00 - 5.00%2/1/2037 7,590,000 6,700,000 - 390,000 6,310,000 410,000 2023A G.O. Improvement Bonds 7/6/2023 4.00 - 5.00%2/1/2038 2,000,000 1,875,000 - 100,000 1,775,000 100,000 2024A G.O. Improvement Bonds 8/15/2024 4.00 - 5.00%2/1/2039 470,000 470,000 - 30,000 440,000 25,000 37,515,000 26,270,000 - 2,385,000 23,885,000 2,435,000 IT Subscriptions Sensus Analytics 7/3/2024 8.50%7/3/2029 92,653 88,418 - 39,872 48,546 14,301 TOTAL BUSINESS-TYPE DEBTS 37,607,653 26,358,418 - 2,424,872 23,933,546 2,449,301 TOTAL INDEBTEDNESS 85,312,653$ 59,273,418$ 2,025,000$ 5,389,872$ 55,908,546$ 5,639,301$ 100 OTHER REQUIRED REPORTS AND SCHEDULES 101 www.swco.cpa INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Honorable Mayor and City Council City of Lake Elmo, Minnesota We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Lake Elmo (the City), as of and for the year ended December 31, 2025, and the related notes to the financial statements, which collectively comprise the City of Lake Elmo’s basic financial statements and have issued our report thereon dated June 25, 2026. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the City of Lake Elmo's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. We identified certain deficiencies in internal control, described in the accompanying Schedule of Findings and Responses as item 2025-001 that we consider to be a significant deficiency. Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the City's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. 102 Minnesota Legal Compliance In connection with our audit, nothing came to our attention that caused us to believe that the City of Lake Elmo failed to comply with the provisions of the contracting - bid laws, depositories of public funds and public investments, conflicts of interest, public indebtedness, claims and disbursements, and miscellaneous provisions sections of the Minnesota Legal Compliance Audit Guide for Cities, promulgated by the State Auditor pursuant to Minn. Stat. § 6.65, insofar as they relate to accounting matters. However, our audit was not directed primarily toward obtaining knowledge of such noncompliance. Accordingly, had we performed additional procedures, other matters may have come to our attention regarding the City’s noncompliance with the above referenced provisions, insofar as they relate to accounting matters. City’s Response to Findings Government Auditing Standards require the auditor to perform limited procedures on the City of Lake Elmo’s response to the findings identified in our audit and described in the accompanying Schedule of Findings and Responses and Corrective Action Plans. The City of Lake Elmo’s response was not subjected to the other auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on the response. Purpose of This Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. SCHLENNER WENNER & CO. St. Cloud, Minnesota June 25, 2026 CITY OF LAKE ELMO, MINNESOTA SCHEDULE OF FINDINGS AND RESPONSES FOR THE YEAR ENDED DECEMBER 31, 2025 103 FINANCIAL STATEMENT FINDINGS IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Finding 2025-001 Limited Segregation of Duties Condition: Throughout the year, the same employee was often responsible for preparing bank reconciliations, as well as recording and approving adjusting journal entries. Additionally, the individual primarily responsible for completing bank reconciliations was also an authorized signer for the City’s checking account. Criteria: The City should adopt an internal control structure that properly segregates the various functions of each accounting cycle. This means no single person should be in a position to both initiate and approve a transaction, as well as have access to the related physical assets involved with the transaction. In other words, an employee should not be in a position to both commit an irregularity and cover it up. Cause: Limited number of staff members in the finance department. Effect: The lack of ideal segregation of duties could expose the City to heightened risk that errors or fraud could occur and not be detected in a timely manner. Recommendation: We recommend the City review and evaluate current procedures for the purpose of implementing additional oversight and segregation of duties to the extent that is determined to be feasible. Views of Responsible Officials And Planned Corrective Actions: Management agrees with the recommendation. See corresponding Corrective Action Plan. CITY OF LAKE ELMO, MINNESOTA CORRECTIVE ACTION PLANS FOR THE YEAR ENDED DECEMBER 31, 2025 104 FINANCIAL STATEMENT FINDINGS IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Finding 2025-001 Limited Segregation of Duties 1. Explanation of Disagreement with Audit Finding There is no disagreement with the audit finding. 2. Actions Planned in Response to Finding The City will review and evaluate current processes, procedures, and employee roles within the Finance Department. To the extent possible, the City will implement additional controls to mitigate the lack of segregation of duties. 3. Official Responsible Nicole Miller, City Administrator, is the official responsible for ensuring corrective action. 4. Planned Completion Date December 31, 2026. 5. Plan to Monitor Completion The City Council will be monitoring this Corrective Action Plan. City of Lake Elmo, Minnesota Report to the Members of Governance June 25, 2026 CITY OF LAKE ELMO, MINNESOTA REQUIRED COMMUNICATIONS June 25, 2026 Members of Governance City of Lake Elmo, Minnesota To the Members of Governance, This letter has been prepared to assist you with your review of the financial statements as of and for the period ending December 31, 2025. We look forward to meeting with you and discussing the matters outlined below. The Auditor’s Responsibilities With Regard to the Financial Statement Audit Our Responsibilities As your independent auditor, our responsibilities include: • Planning and performing the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. Reasonable assurance is a high level of assurance. • Assessing the risks of material misstatement of the financial statements, whether due to fraud or error. Included in that assessment is a consideration of the City’s internal control over financial reporting. • Performing appropriate procedures based upon our risk assessment. • Evaluating the appropriateness of the accounting policies used and the reasonableness of significant accounting estimates made by management. • Forming and expressing an opinion based on our audit about whether the financial statements prepared by management with the oversight of those charged with governance: o Are free from material misstatement o Are presented fairly, in all material respects and in accordance with accounting principles generally accepted in the United States of America • Performing an audit in accordance with the standards for financial audits contained in auditing standards generally accepted in the United States of America and Government Auditing Standards issued by the Comptroller General of the United States including reporting on: o Internal control over financial reporting o Compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statements amounts • Our audit does not relieve management or those charged with governance of their responsibilities. We are also required to communicate significant matters related to our audit that are relevant to the responsibilities of tho se charged with governance, including: • Internal control matters • Qualitative aspects of the City’s accounting practice including policies, accounting estimates and financial statement disclosures • Significant unusual transactions • Significant difficulties encountered • Disagreements with management • Circumstances that affect the form and content of the auditors’ report • Audit consultations outside the engagement team • Corrected and uncorrected misstatements • Other audit findings or issues Independence We are not aware of any relationships between Schlenner Wenner & Co. and the City that, in our professional judgment, may reasonably be thought to bear on our independence. CITY OF LAKE ELMO, MINNESOTA REQUIRED COMMUNICATIONS Audit Plan Scope and Timing of the Audit Based on our understanding of the City and the environment in which you operate, we focused our audit on the following key areas: • Internal control over financial reporting • Consideration of fraud risks • Areas with significant estimates • Review, recompute and substantiate financial statements amounts and disclosures • Review application and disclosures for new accounting standards adopted • Fair value measurements and disclosures (including alternative investments) • Revenue recognition • Existence and accuracy of payroll and other expenses Our areas of audit focus were informed by, among other things, our assessment of materiality. Materiality in the context of our audit was determined based on specific qualitative and quantitative factors combined with our expectations about the City's current year results. Significant changes to the audit plan There were no significant changes made to either our planned audit strategy or to the significant risks and other areas of emphasis identified during the performance of our risk assessment procedures. Key Areas of Focus and Significant Issues Significant risks of material misstatement A significant risk is an identified and assessed risk of material misstatement that, in the auditors’ professional judgment, requires special audit consideration. Significant risks identified and focused on during the audit were communicated to you in a separate communication dated April 3, 2026. Other areas of emphasis We also focused on other areas that did not meet the definition of a significant risk but were determined to require specific awareness and a unique audit response. Qualitative Aspect of Accounting Practices Accounting policies: Management is responsible for the selection and use of appropriate accounting policies. In accordance with the terms of our engagement letter, we have advised management about the appropriateness of accounting policies and their application. The City did not adopt any significant new accounting policies, nor have there been any changes in existing significant accounting policies during the current period. Accounting estimates: Accounting estimates, including fair value estimates, are an integral part of the financial statements prepared by management and are based on management's knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements, the degree of subjectivity involved in their development and because of the possibility that future events affecting them may differ significantly from those expected. The following significant estimates/judgments are contained in the financial statements: • Net pension liabilities/assets and related deferred outflows and inflows of resources • Net Other Post Employment Benefit (OPEB) liabilities and related deferred outflows and inflows of resources CITY OF LAKE ELMO, MINNESOTA REQUIRED COMMUNICATIONS Based on audit work performed, we are satisfied with the estimates made by management. There have been no significant changes made by management to either the processes used to develop the particularly sensitive accounting estimates, or to the significant assumptions used to develop the estimates, noted above. Financial statement disclosures: The disclosures in the financial statements are neutral, consistent and clear. Significant Unusual Transactions There have been no significant transactions that are outside the normal course of business for the City or that otherwise appear to be unusual due to their timing, size or nature. Significant Difficulties Encountered We encountered no significant difficulties in dealing with management and completing our audit. Disagreements with Management Professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter that could be significant to the financial statements or the auditors' report. We are pleased to report that no such disagreements arose during the course of our audit. Internal Control and Compliance Matters We have separately communicated matters related to internal control and compliance over financial reporting identified during our audit of the basic financial statements, as required by Government Auditing Standards. This communication is included within the compliance section of the City’s financial report for the year ended December 31, 2025. We encountered no other audit findings or issues that require communication at this time. Uncorrected Misstatements We are not aware of any uncorrected misstatements other than misstatements that are clearly trivial. Opinion Unit Corrected Misstatements Since all members of governance are not also part of management, we are required to communicate material, corrected misstatements that were brought to the attention of management as a result of our audit procedures. Audit adjustments, other than those that are clearly trivial, proposed by us and recorded by the City are shown following the attached representation letter at Exhibit A. Management’s Consultations with other Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing or accounting matters. Other Matters We have not identified any other significant findings or issues that we wish to bring to your attention at this time. Audit Consultations Outside the Engagement Team We encountered no difficult or contentious matters for which we consulted outside of the engagement team. Going Concern Pursuant to professional standards, we are required to communicate to you, when applicable, certain matters relating to our evaluation of the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. No such matters or conditions have come to our attention during our engagement. Fraud We did not identify any known or suspected fraud during our audit. CITY OF LAKE ELMO, MINNESOTA REQUIRED COMMUNICATIONS Related Parties We did not have any significant issues arise during the audit in connection with the City’s related parties. Required Supplementary Information We applied certain limited procedures to the required supplementary information (RSI) that supplements the basic financial statements. Our procedures consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We did not audit the RSI and do not express an opinion or provide any assurance on the RSI. Supplementary Information With respect to the supplementary information accompanying the financial statements, we made certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or the financial statements themselves. Nonattest Services The following nonattest services were provided by the firm: 1. Preparation of the City’s financial statements and related GASB 34 conversion entries 2. Preparation and submission of the Annual Reporting Form for the Office of the State Auditor Written Representations In a separate communication, as attached, we have requested a number of written representations from management in respect to their responsibility for the preparation of the financial statements in accordance with accounting principles generally accepted in the United States. Other Audit Matters of Governance Interest We did not identify any other matters to bring to your attention at this time. Closing We would like to thank management and staff for the assistance they provided to us during the audit. We hope the information in this audit findings letter will be useful. We would be pleased to discuss them with you and respond to any questions you may have. This letter was prepared for the sole use of the Members of Governance of the City of Lake Elmo to carry out and discharge their responsibilities. The content should not be disclosed to any third party without our prior written consent, and we assume no responsibility to any other person. Sincerely, SCHLENNER WENNER & CO. St. Cloud, Minnesota EXHIBIT A REPRESENTATION LETTER City of Lake Elmo, Minnesota Presentation of the Audited Financial Statements Fiscal Year Ended December 31, 2025 Audit Process and Opinion Unmodified (Clean) Opinion General Procedures Obtain Records Inquiries Analytical Procedures Sampling Detail Testing Required Communications Audit went smoothly Positive Working Relationship with Management Nothing unusual noted in terms of recorded transactions or accounting policies/treatments Significant estimates for -Net Pension Liability/Balances -Net OPEB Liability/Balances Controls and Compliance AUDIT ADJUSTMENTS INTERNAL CONTROLS MINNESOTA LEGAL COMPLIANCE •Audit adjustments were not material / pervasive •Lack of segregation of duties identified for certain accounting functions •No instances of noncompliance were identified Revenues exceeded budget by $2,281,861 Expenditures were below budget by $97,040 2024 2025 2025 Budget Revenues 9,146,762$ 10,100,834$ 7,818,973$ Expenditures 6,837,487 7,800,774 7,897,814 Other Uses (905,283) (19,000) 113,842 Change in Fund Balance 1,403,992 2,281,060 35,001 Fund Balance 10,324,572$ 12,605,632$ N/A $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 2021 2022 2023 2024 2025 2025 Budget General Fund - Trend Analysis & Budgetary Comparison Revenues Expenditures Fund Balance Detailed Revenue AnalysisGeneral Fund Taxes & Assessments Licenses, Permits and Fees Inter- governmental Charges for Services Fines Investment Gains/Losses Miscell. 2024 $6,064,623 $1,020,801 $500,860 $912,893 $55,286 $444,440 $147,859 2025 Final Budget $5,653,958 $1,011,995 $240,108 $775,212 $30,000 $83,200 $24,500 2025 $5,510,182 $1,687,800 $673,737 $1,181,734 $66,081 $871,385 $109,915 $- $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 Detailed Expenditure AnalysisGeneral Fund General Government Public Safety Public Works Culture and Recreation Capital Outlay 2024 $1,437,156 $3,749,563 $1,069,092 $492,788 $88,888 2025 Final Budget $1,905,983 $4,088,502 $1,215,817 $687,512 $- 2025 $1,768,061 $4,414,133 $1,146,286 $472,294 $- $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 Fund balance policy sets a target floor/minimum fund balance equal to approximately 50% to 60% of the following year’s budgeted operating expenditures Year Percentage 2021 97.3% 2022 103.9% 2023 109.0% 2024 129.8% 2025 140.5% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 160.0% 2021 2022 2023 2024 2025 Unassigned Fund Balance as a Percentage of Next Year's Budget Cash Trend AnalysisGeneral Fund 2021 2022 2023 2024 2025 General $9,577,831 $10,744,465 $12,190,097 $12,115,282 $21,462,653 $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 Financial Highlights Other Governmental Funds *Financial data for individual nonmajor governmental funds can be found beginning on page 82 in the Audited Financial Statements. Debt Service Fund Capital Projects Fund Revenues 4,430,462$ 2,652,424$ Expenditures 3,987,782 9,302,898 Other Sources/Transfers - 2,588,575 Change in Fund Balance 442,680 (4,061,899) Fund Balance 6,120,873$ 4,276,302$ - 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 10,000,000 Debt Service Fund Capital Projects Funds Revenues Expenditures Other Sources/Transfers Cash Trend Analysis Other Governmental Funds 2021 2022 2023 2024 2025 Debt Service $3,886,866 $4,532,084 $5,011,444 $5,657,531 $6,098,692 Capital Projects $21,630,450 $14,633,366 $7,792,520 $10,719,099 $9,438,542 $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 Historical TrendsWater Fund 2021 2022 2023 2024 2025 Operating Revenues 1,711,596$ 1,761,364$ 1,932,608$ 1,517,017$ 2,055,993$ Operating Expenses 2,442,438 2,934,238 3,629,498 3,607,825 4,357,831 Operating Income (730,842) (1,172,874) (1,696,890) (2,090,808) (2,301,838) Nonoperating Revenues & Transfers In 11,138,056 11,221,712 5,892,999 8,473,757 9,631,961 Nonoperating Expenses & Transfers Out (3,984,842) (3,674,626) (352,740) (339,124) (639,618) Change In Net Position 6,422,372$ 6,374,212$ 3,843,369$ 6,043,825$ 6,690,505$ $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 2021 2022 2023 2024 2025 Operating Revenues Operating Expenses Op Rev + Connection Fees Historical TrendsSewer Fund 2021 2022 2023 2024 2025 Operating Revenues 549,567$ 671,474$ 760,781$ 869,151$ 1,125,450$ Operating Expenses 1,417,524 1,764,912 2,167,556 2,666,804 2,958,579 Operating Income (Loss)(867,957) (1,093,438) (1,406,775) (1,797,653) (1,833,129) Nonoperating Revenues & Transfers In 5,618,245 4,351,815 4,069,814 5,537,548 9,289,663 Nonoperating Expenses & Transfers Out (1,652,819) (445,812) (356,724) (329,701) (297,177) Change In Net Position 3,097,469$ 2,812,565$ 2,306,315$ 3,410,194$ 7,159,357$ $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 2021 2022 2023 2024 2025 Operating Revenues Operating Expenses Op Rev + Connection Fees Historical Trends Storm Sewer Fund 2021 2022 2023 2024 2025 Operating Revenues 512,624$ 510,061$ 580,896$ 657,030$ 647,504$ Operating Expenses 780,685 907,794 1,016,549 1,149,143 1,428,672 Operating Income (268,061) (397,733) (435,653) (492,113) (781,168) Nonoperating Revenues & Transfers In 1,605,697 2,028,444 2,484,344 4,071,803 6,299,512 Nonoperating Expenses & Transfers Out (51,397) (60,428) (40,562) (35,921) (31,226) Change In Net Position 1,286,239$ 1,570,283$ 2,008,129$ 3,543,769$ 5,487,118$ $- $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 2021 2022 2023 2024 2025 Operating Revenues Operating Expenses Cash Trend AnalysisProprietary Funds - 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 2021 2022 2023 2024 2025 Sewer Utility Water Utility Storm Sewer Utility Government-Wide Assets 0 50,000,000 100,000,000 150,000,000 200,000,000 250,000,000 300,000,000 350,000,000 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Current Assets 60,427,247 59,851,619 54,215,682 57,400,413 67,920,588 Capital/Noncurrent 130,229,184 164,134,162 189,217,728 217,115,357 246,011,407 Government-Wide Liabilities 0 20,000,000 40,000,000 60,000,000 80,000,000 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Current Liabilities 10,354,210 13,345,224 12,467,950 11,905,606 14,359,524 Debt/Noncurrent 48,079,513 56,401,284 57,051,117 56,556,942 58,757,032 Net Pension Liability 989,994 2,951,458 1,606,836 1,444,241 1,419,685 Government-Wide Assets & Liabilities 0 50,000,000 100,000,000 150,000,000 200,000,000 250,000,000 300,000,000 350,000,000 2021 2022 2023 2024 2025 Assets vs Liabilities - Trend Analysis Total Assets Total Liabilities Net (Assets - Liabilities) Governmental FundsFuture Debt Payments - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 Governmental Funds Future Debt Payments Principal Payments Interest Payments Proprietary FundsFuture Debt Payments - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Proprietary Funds Future Debt Payments Principal Payments Interest Payments Questions? Ryan Schmidt, CPA Partner rschmidt@swco.cpa 320-251-0286 STAFF REPORT DATE: July 7, 2026 Regular Agenda TO: Mayor and Councilmembers FROM: Nicole Miller, City Administrator and Clarissa Hadler, Finance Director AGENDA ITEM: Purchasing Policy Revisions CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☒ Responsive, transparent, adaptive governance☒ ☐ Managed Growth ☒ Efficient, reliable, innovative services ☒ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: The City’s Purchasing Policy was last reviewed in 2018. City policies are reviewed at regular intervals to ensure alignment with internal practices, current Council goals, and state statute. The Council discussed our initial changes at the May workshop (packet is available at this link). Staff is bringing back a few changes as discussed in that meeting. ISSUE BEFORE COUNCIL: Should the Council adopt the attached revisions to the Purchasing Policy? PROPOSAL DETAILS/ANALYSIS: The attached, red-lined version of the City’s Purchasing Policy shows changes currently recommended by staff and some revisions discussed at the May Workshop. (Highlighted sections are changes made after that workshop.) Some of the initial changes to note: • Removed processes that do not align with practices, are laid out in other policy or process documents, or are not purchasing related, such as cash receipting, payment vouchers, authorization forms. • Added a Quick Reference Guide to clarify the options for procurement at various purchasing amounts and the approvals necessary. • Consolidated the Construction, Contract Services, and Purchase Contracts and the Professional Services sections into one section. • Added a definition of the term “contract” and approval authority clarification. • Clarified which purchases are delegated to the City Administrator. • Clarified Lease language. • Added clarifying language regarding Uniform Municipal Contracting Law and aligned purchasing thresholds with UMCL. • Added clarifying language regarding the RFP process. Since that meeting the following revisions were made: • Changed the purchasing thresholds to align with Council direction from the workshop. • Added language requiring the report of disbursements made based on delegations to staff. (Note: Prior to this, disbursements generally went through Council prior to payment and this report was not necessary. We plan to utilize this delegated authority more in the future and break out the AP reporting appropriately. See additional information below.) • Added language describing the level of budgetary control and encouraging budget amendments. Accounts Payable Process & Reporting One of the questions or concerns we heard at the Council workshop was the need to wade through so many pages of A/P. In an effort to simplify Council A/P approvals, we have broken down our regular A/P into more batches: those items that Department Heads and the City Administrator are authorized to pay without Council approval (per the purchasing policy), and those that require Council approval. Items that require Council approval are those that are over $10,000 (changing to $15,000 if revisions are adopted) and are not routine purchases. The following is a list of payments that are delegated to the City Administrator for payment: • Payroll and payroll-related expenses • Insurance premiums • Routine operations (utilities, supplies, cleaning services, routine maintenance, escrow expenses, etc.) • Increases up to an individual’s authorization limit for a previously Council-approved item • Discretionary purchases within the purchasing authority and budgets of a department • Building & Development Escrow Releases (new in current revision and would not include any security reductions that require Council approval) • Payments due to other units of government or payments required to be made before the next regular meeting of the Council to avoid endangering public safety, public or private property, or interrupting City services. The attached vendor and invoice reports provide additional insight into which items are considered routine or not. Staff welcomes Council discussion or direction on any changes. Possible Increased Budgetary Controls At the 5/12 workshop, the Council discussed the possibility of adding a policy wherein a line-item budget may not exceed 105% of the adopted budget without Council approval. To this discussion staff provides the following additional context: • GASB (Governmental Accounting Standards Board) - The scope and method of state and local government budgetary practices are generally outside the scope of financial reporting standards. Budgetary accounting (line-items) is considered an interim management control technique used to ensure that functions or funds (which we must report on according to GASB) overall perform within set appropriation levels. One way to look at this is: the appropriation at fund or function is the policy, the line-item budget is a management control. • Other Cities – In polling other cities, all of them establish budgeting controls at the department level. Adding the discussed line-item control would be outside normal budgetary practices. • Budget Process –  The Budget process is started a full year and a half prior to when some expenses actually occur. Staff use their best judgement with the information that they have available to estimate what their department needs will be for the following year.  Unforeseen expenses occur regularly, such as unplanned maintenance, staffing changes, activities that occur only occasionally, etc.  We have quite a few expenses that are divided between various departments. Over time, some of those allocations may change as we become aware of them and move toward an allocation we feel is more appropriate given new information or analysis. • It is relatively uncommon for our departments to be over-budget by a substantive amount. The attached reports show the following:  The General Fund budget was under budget by 3%.  4 of 14 Department budgets exceeded 105% as seen below: Department Amount Over % of Budget Notes Mayor & Council $23,000 131% 100 year celebration Engineering $13,500 139% Due largely to the change from Focus to BMI. Fire $170,500 111% Animal Control $8,000 155% Underbudgeted compared to prior years. • Of the 288 General Fund line-item expenses, just 24% were over budget, while 76% were on or below budget. (An experienced colleague suggested that a good rule of thumb was that your line items be at or under budget around 2/3 of the time, so ours exceed that expectation.) • Some of the unintended consequences of a policy that caps line-items at 105% may be:  Departments may anticipate higher expenses in each line item in order to avoid going over, causing the overall department budget to rise, causing the overall budget to increase substantially.  Additional paperwork to submit numerous purchase approvals/budget amendments throughout the year. Each of these minor approvals ends up adding work to a minimum of 4 people, department head, finance director, city administrator and city clerk.  Departments may forego or postpone certain activities if they feel they will be judged harshly for unplanned expenses. • We have been purposefully tightening up our budgeting process in the past 2 years in order to decrease the amount of overbudgeting that was occurring in the past. Adding this policy will cause us to move backward with our budgeting practices. If Council determines they would like to move forward with additional controls, suggested language is as follows: • The level of budgetary control is generally established at the department level. Expenditures for departments that exceed appropriations are not authorized unless additional revenue sources, unspent appropriations, or fund balances are identified and available. However, within any department, should a line-item budget exceed 105%, Council approval for purchases and a Budget Amendment shall be necessary. RECOMMENDATION: Motion to adopt revisions to the City of Lake Elmo Purchasing Policy. ATTACHMENTS: Purchasing Policy – redlined Purchasing Policy - final Vendor/Invoice Routine Purchase Analysis LA515\1\1093668.v1 Purchasing Policy May 15, 2018 __________, 2026 2 LA515\1\1093668.v1 Table of Contents City of Lake Elmo Purchasing Procedures ................................................................................................... 3 General Purchasing Procedures .................................................................................................................. 3 Construction, Contract Services, and Purchase (Goods) Contracts ................................................... 6 Authorization Thresholds and Requirements ....................................................................................... 7 Over $100,000 ($175,000 effective August 1, 2018) with labor - Performance Bond ....... 98 Awarding Contracts ......................................................................................................................................... 9 Best Value Procurement Alternative ......................................................................................................... 9 Cooperative Purchasing Procedures ......................................................................................................... 9 Change Orders ................................................................................................................................................. 10 Other Bidding Requirements ..................................................................................................................... 11 Purchase or Lease of Used Public Safety Equipment ....................................................................... 11 Leases and Lease Purchases ...................................................................................................................... 11 Real Estate ........................................................................................................................................................ 11 Online Purchases ....................................................................................................................................... 1211 Withholding Certificates ........................................................................................................................ 1211 Ethics and Acceptance of Gifts .................................................................................................................. 12 Public Purpose Expenditures ............................................................................................................... 1312 Professional Service & Consultant Contracts .......................................................................................... 14 Disposition or Donation of Surplus Assets ............................................................................................... 16 Government to Government Sales ........................................................................................................... 16 Trade-ins ........................................................................................................................................................... 17 Electronic Sales ............................................................................................................................................... 17 Restrictions....................................................................................................................................................... 17 3 LA515\1\1093668.v1 City of Lake Elmo Purchasing Procedures Effective May 15______July 7, 20182026 These purchasing procedures are intended to provide a consistent manner of purchasing goods and services Citywide. Employees should secure the best balance between quantity, quality, and price when purchasing for the City. General Purchasing Procedures • The City of Lake Elmo has a “decentralized” purchasing program; purchasing is the responsibility of each Department Director or designated individual. • The level of budgetary control is established at the department level. Expenditures for departments that exceed appropriations are not authorized unless additional revenue sources, unspent appropriations, or fund balances are identified and available. Budget Amendments should be submitted for review and approval by the City Council as appropriate. • The Finance Department normally processes payments twice per month, which is the week preceding the City Council meeting and invoices are paid by due date. Fully completed Payment Voucher forms must be submitted by 4:30 pm on the Tuesday before the City Council packet is due. This will ensure inclusion in the packet for which the City Council will consider at the subsequent meeting. Additional payment batches may occur within the limits of this policy and will be reported at the next available City Council meeting. • Payments will be made only from invoices, or expense reimbursement forms., which should be attached to completed Payment Voucher forms. • Persons authorizing payments are responsible for verifying that goods are received, services provided, that they are necessary, and that no duplicate payments occurred. Signature(s) are required by authorized individual(s) in order to be processed for payment. • Persons authorizing payments are responsible for coding invoices and ensuring that correct account codes are used. If there are questions regarding coding, contact the Finance Department for assistance. • Contracts to which the City is a party,party shall be brought to the City Council for consideration and if approved, will be signed by the Mayor and the City Clerk on behalf of the City. to be executed. • Generally, accepted accounting principles will be followed. For the end of each year, invoices that are received early the next year which are for goods or services received the previous year will usually be charged against the previous year. At year-end, invoices received early in the following year for goods or services provided in the previous year will typically be charged to the prior year. The year to which an 4 LA515\1\1093668.v1 invoice will be charged is based on the financial statement/audit cut -off date and the materiality of the item. If you have any questions about this, please contact a member of the Finance Department. • Employees will not make any purchases for personal use through the City. • Minnesota State Statutes Sections §471.87 and §471.88 prohibit the purchase of goods and services wherever a conflict of interest may exist. The City of Lake Elmo requires employees to disclose to their immediate supervisor any personal financial interest in the selling or buying of goods or services for the City. No purchase orders, contracts or service agreements shall be given to an employee of the City or to a partnership or corporation of which an employee is a major stockholder or principal. No employee shall enter into athe relationship with a vendor where the employee's actions are, or could reasonably be viewed as, not in the best interests of the City. If any employee becomes involved in a possible conflict of interest situation, the employee shall disclose the nature of the possible conflict to his or her supervisor and to the City Administrator. The City Administrator shall promptly notify the individual in writing of an approval or disapproval of the activity. If disapproved, the employee shall remove himself or herself from the conflict of interest situation. • Minnesota Statutes Section §12.37 gives the City the ability to declare an emergency situation for a limited period of time. During such an emergency, the City is not required to use the typically mandated procedures for purchasing and contracts. Emergency purchases require approval by the City Administrator, or Finance Director, and when necessary because of the dollar amount, formal City Council action. An emergency purchase is defined as one where an immediate response is required to protect the health, welfare or safety of the public or public property. • The City has a credit card program available for employees who frequently purchase items for the City. Employees using a City credit card must adhere to the City’sA separate Credit Card Policy is available. • Travel-related purchases should be made following the City’s travel guidelines in the Personnel Policy. • Provisions of this Policy do not apply to previously City Council approved routine expenditures/expenses such as utilities, payroll and related expenditures, insurance premiums, MCES charges for sewer, bond payments, etc. Petty Cash Procedures Below are some key process for petty cash advances or reimbursements. The entire Petty Cash Procedures document is available by contacting the Finance Department Receipting of Transactions: 1. On the log sheet, fill out date, vendor, description, amount and dep artment 5 LA515\1\1093668.v1 2. Fill out the receipt in the yellow receipt book, attach receipt, and attach appropriate documentation. 3. At month end, reconcile the cash and receipts. • The staff person reconciling petty cash signs off on the log sheet verifying they have reconciled the petty cash box, which should include documentation for all cash payments received. • After reconciliation, have another staff person review for internal controls. This should be the Accountant, Finance Director, Deputy City Clerk or Permit Technician. • If the petty cash balance has more than the $500 base amount, a deposit should be prepared to reduce the balance back to $500. • If the petty cash balance has less than the $500 base amount, a check request with appropriate documentation for the amount needed to replenish the fund should be sent to Finance. This process will be revised upon completion of the software implementation for the City. Cash Advance or Employee Expense Reimbursement: 1. Cash Advance - If requesting a cash advance for an eligible City expenditure/expense, have the staff person fill out a “Petty Cash Advance or Reimbursement Form” outlining the advance and verified by the appropriate staff person. After the purchase is made, provide the appropriate documentation; amend the form for the actual amount and add the transaction to the log sheet. 2. Cash Reimbursement – If requesting a cash rRequest for reimbursement from for an eligible City expenditure/expense, have the requesting individual fill out a “Petty Cash Advance ormust bey made via filling out the Employee Reimbursement Form”. Attach appropriate documentation must be attached. , and the authorized individual will reimburse the individual, upon which both people should sign the form acknowledging receipt and payment.. Reimbursements are paid through the payroll process on the next available payroll if submitted to Finance by the prior Thursday. system. 6 LA515\1\1093668.v1 Purchasing Guidelines & Construction, Contract Services, and Purchase (Goods) ContractsProcurement Options Supplies, Materials, Equipment or Equipment Rental, and Construction, Alteration, or Repair & Maintenance of Property The Uniform Municipal Contracting Llaw sets outestablishes procedures that cities must follow for contracts to sell, purchase or rent supplies, materials, or equipment, or to construct, alter, repair or maintain real or personal property. Below isare the procurement options depending based on the estimated amount of the contract. For purposes of this Policy, aA contract is defined as a formal agreement that establishes binding long-term obligations, conditions, and risk allocations between the City and another party. Contracts include provisions that extend beyond routine purchasing terms—such as insurance requirements, indemnification, liability allocation, and other legal protections that may impact the City’s financial or legal exposure over time. Approval Authority • City Council Approval is Required: For aAny contractagreement that includes or modifies long-term contractual conditions—such as insurance, indemnification, or other legal risk provisions—must be reviewed and approved by the City Council. • Administrative (Staff) Approval: Agreements that are limited to standard purchasing terms, do not alter long-term contractual conditions, and fall within an already approved budget or authorized spending threshold may be executed by City staff without additional Council approval. Quick Reference Guide Required Approvals Contract or Purchase Amount Procurement Options Director City Admin. City Council Less than $5,02,500 • Open Market • Direct Negotiations X $5,02,500 - $150,000 • Open Market • Direct Negotiation w/ 2 quotations obtained whenever possible. X X $150,000 but not more than $175,000 • Sealed Bids • Direct Negotiation • Cooperative Purchasing Contracts • Request for ProposalsFP X X X (unless delegated) $50,000 and greater if being assessed • Sealealed Bids per M.S. 471.345, Subd. 3 • Cooperative pPurchasing cContracts that comply with the bidding process. X X X $100,000 • Cooperative Purchasing Contracts X X X 7 LA515\1\1093668.v1 and greater for Professional Services • RFP (not more frequenno more frequentlyt than every 5 years for long-term professional services contracts). $175,000 and greater • Sealed Bids per M.S. 471.345, Subd. 3 • Cooperative Purchasing Contracts that comply with the bidding process. X X X Authorization Thresholds and Requirements: Less than $500.00 – Authorized Individuals Department Director Purchases may be obtained through open market or direct negotiations. The City Administrator may grant purchasing authority to individuals authorized to conduct City business through an Authorization Form kept on file in Finance. This form outlines spending thresholds, and any exceptions to that threshold. $500.00 to $2,500.00 5,000 – Authorized Individuals Department Director Purchases may be obtained through open market or direct negotiation, with two quotations obtained whenever possible. Quotations must be retained for at least one year. The City Administrator may grant purchasing authority to individuals authorized to conduct City business through an Authorization Form kept on file in Finance. $2,500.01 5,000.01 to $105,000.00 – City Administrator Purchases may be obtained through open market or direct negotiation, with two quotations obtained whenever possible. Quotations must be retained for at least one year. The City Administrator may grant purchasing authority to individuals authorized to conduct City business through an Authorization Form kept on file in Finance. $105,000.01 to $100,000 ($175,000 effective August 1, 2018)but not greater than $175,000 – City Council or City Administrator as Delegated Purchases may be obtained through sealed bids, or cooperative purchasing contracts, or direct negotiation, with two quotations obtained whenever possible. Quotations must be retained for at least one year. Cooperative pPurchasing cContracts should be considered for contracts over $25,000 and may be used in lieu of sealed bids or quotes. The City Council shouldwould approve purchases in this range, unless except as delegated to the City Administrator for the following routine budgeted items:; • Payroll and payroll-related expenses • Insurance premiums • Routine oOperations (utilities, supplies, cleaning services, routine maintenance, etc.) • Building & Development Escrow Releases • Increases up to an individual’s authorization limit for a previously Council-approved item, • Payments due to other units of government or payments required to be made before the next regular meeting of the Council to avoid endangering public safety, public or private property, or interrupting City services. 8 LA515\1\1093668.v1 Disbursements made under the above delegation shall be reported to Council at the next regular meeting, per Minnesota Statute 412.271, Subd. 8. Due to the cost of preparing sealed bids, and the additional length of time required in this process, the use of sealed bids for this threshold should only be used when deemed necessary. $100,000 and Greater for Professional Services – City Council Purchases may be obtained through cooperative purchasing contracts, or direct negotiation , RFP, with two quotations obtained whenever possible. For long-term professional services, RFPs should not be more frequent than every 5 years, unless deemed necessary by the City Council. Greater than $100,000 ($175,000 effective August 1, 2018) $175,000, or Greater than $50,000 if Being Specially Assessed Purchases must be obtained by sSealed bids solicited by public notice as are required under Minnesota Statutes Section.S. 471.345, subdivisionSubd. 3. City staff must Contracts must be awarded to either the lowest responsible bidder, or the “Best Value Procurement Alternative”. oObtain authorization from the City Council to prepare plans and specifications for the bids. The City Attorney mustshould review the plans and specifications including the contract prior to advertisement for bids. Cooperative pPurchasing cContracts should be considered for contracts over $25,000 and may be used in lieu of sealed bids. Advertisement for sealed bids must be published in the City’s Official Newspaper and advertised on QuestCDN at least ten days before the last date for submission of bids. The published notice must contain the following: • A description of the project or the purchase • The availability of specifications including theire location (i.e., located in the , for example, Office of the City Clerk), etc. • The last day for submission of bids and the place where they are due • The time and place for opening bids • A statement reserving the right of the City to reject all bids The bids must be opened and tabulated at the time and place specified in the advertisement for bids. Preferably, this should be completed approximately 10 businessworking days in advance of the City Council meeting to allow for a thorough review and tabulation of the bids, and to allow for reference checks as appropriate. A recommendation can then be made to the City CouncilCouncil, and the City Council will award or deny the contract. Bids rejected by City Ccouncil must be kept on file for 6 years and the accepted bid must be retained for 10 years after completion of the project. As an alternative to this procurement method, the City may award a contract for construction, alteration, repair, or maintenance work to the vendor or contractor offering the best value under a request for proposals 9 LA515\1\1093668.v1 as described in Minnesota Statutes Section 16C.28, subdivision 1, paragraph (a), clause (2), and paragraph (c). City staff must be trained in the “best value” procurement method in accordance with Minnesota Statutes Section 16C.28, subdivision 1d. Over Greater than $175,000 $100,000 ($175,000 effective August 1, 2018) with labor - Performance and Payment Bond For contracts over $100,000 ($175,000 effective August 1, 2018) $175,000, that include labor (ex. road construction and the purchase and installation of playground equipment) a performance and payment bonds in an amounts not less than the contract price areis required from the contractorvendor. If change orders substantially increase the amount of the contract, the City Council has the option to increase the required amount of the contractor’s bond. Awarding Contracts For contracts procured through sealed bids or multiple quotes, the City must award the contract to the lowest responsible bidder, or Best Value Procurement Alternative, as set forth in the next section outlines . The bidder who submits the lowest bid or quote in dollars is not necessarily the “lowest responsible bidder.” Best Value Procurement Alternative Minnesota Statute 412.311 allows the City to use a Best Value pProcurement aAlternative for contracts for construction, building, alteration, improvement, or repair work. In that event, the contract may be awarded to the contractor or vendor offering the “best value” under a request for proposals as described in Minnesota Statutes Section 16C.28, subdivision 1, paragraph (a), clause (2), and paragraph (c). instead of awarding the bid to the lowest responsible bidder. Please contact the City Administrator or Finance Director if you wish to consider using the Best Value Procurement Alternative as training is required prior to initiating procurement. Cooperative Purchasing Procedures Cooperative purchasing contracts provide an opportunity for the City to purchase goods and services at reduced costs. Employees do not need to obtain quotes or bids if a purchase is made through a national municipal association purchasing alliance or a cooperative created by a joint powers agreement (of which the City is a member) that purchases items from more than one source based on competitive bids or quotations that complies with sState sStatute. The following is a list of some of the larger purchasing cooperatives of which the City is a member: 1. Cooperative Purchasing Ventures (CPV) Minnesota Statutes Section 471.345, Subd. 15 requires cities to consider the State’s Cooperative Purchasing Venture (CPV) for contracts estimated to exceed $25,000. The City of Lake Elmo participates in the State of Minnesota Cooperative Purchasing Venture (CPV). This enables the City to buy goods and services under the terms of contracts already negotiated by the State of Minnesota. Information for this cooperative can be found on the State of Minnesota’s Materials Management Division website: http://www.mmd.admin.state.mn.us/cpv2.htm 10 LA515\1\1093668.v1 The website can direct employees to the releases and listings of the products/services that can be purchased usingon the State Cooperative Purchasing Venturestate contract. If it is determined that a product/services is on a State Cooperative Purchasing Venturestate contract, vendors should be told that the purchase will be made using that contract. When completing the purchasing paperwork, note that the purchase is per “state contract” and indicate the contract number. Vendors will often contend that the City can purchase from them without bidding because they are on the “state contract” or they will sell at the state contract price. Beware of these approaches. Verify that both the vendor and the specific product/service is listed on the state contract. It is likely that no t all of a vendor’s products/services have been selected to be on the state contract. If a vendor is not on the state contract, but will match the state contract price, this action does not exempt the City from following the competitive bidding laws. 2. U.S. Communities Government Purchasing Alliance The City participates in the U.S. Communities Government Purchasing Alliance http://www.uscommunities.org/. 42. Minnesota State Fire Chiefs Association – Fire Rescue Group Purchasing The Fire Rescue Group Purchasing is a fire services purchasing program open to all Cities. 53. National Intergovernmental Purchasing Alliance (National IPA) Cooperative Purchasing Programs The City participates in the National IPA cooperative purchasing organization. At times, the City may participate in the following purchasing programs; http://www.nationalipa.org. • OMNIA Partners - Omniapartners.com • Sourewell - Sourcewell-mn.gov • HGAC – hgacbuy.org 64. Joint Powers Member Any other jJoint pPowers pPurchasing eEntity of which the City is a member that provides for purchases in accordance with Minnesota Statutes Section 471.345, subdivision 15(b) is also exempt from the quote or bid process. In all items outlined pertaining to cooperatives, please contact the City Administrator or Finance Director if you have any questions. Change Orders Change orders may occur due to City driven changes, errors and omissions, field directives, unforeseen/hidden conditions, regulatory requirements or changes that are contractor driven. Changes that need to be made during construction often need to be addressed and approved in a timely manner in order to keep the project on schedule. 11 LA515\1\1093668.v1 2)1) For a change order less than $100,000, which does not result in exceeding the overall project budget, the City Administrator may approve these. 3)2) At the discretion of the City Administrator, for a change order less than $100,000, but still within the scope of the overall project budget , it may be presented to the City Council for consideration and approval. 4)3) For any change order that results in exceeding the overall project budget, and/or exceeds $100,000 must be approved by the City Council. Other Bidding Requirements • TheA City must notcannot avoid competitive bidding requirements by splitting a contract into several contracts, each of which is below the minimum amount requiring bids. • Bid sSpecifications may not be written so as to exclude all but one type or kind of supplies or equipment unless it is for public safety equipment that is clearly and legitimately limited to a single source of supply. • The City may not accept a bid that includes a number of items when the advertisement called for separate bids for each item. • The City must re-bid the contract if the Citywhen they makes a material change in the specifications of the contract. • Minnesota Statutes Chapter 429 (local improvement code) applies to all public improvement contracts (i.e., sewer, water and streets) being financed with special assessments. Purchase or Lease of Used Public Safety Equipment In 2011, cities were granted authority to lease or purchase used public safety equipment (“vehicles and specialized equipment used by a fire department … in firefighting, ambulance and emergency medical treatment services, rescue, and hazardous materials response”) without competitively bidding in certain specified circumstances. Competitive bidding or proposals are not required, “if the equipment is clearly and legitimately limited to a single source of supply, and the contract price may be best establish ed by direct negotiation.” See Minnesota Statutes Section 471.3455. Equipment Leases and Lease- Purchases All lease agreements require need approval review through by the City Administrator and Finance Director, and legal counsel and prior to initiating the lease. City Council approval is required for all leases. For the leasing of equipment, The Finance Department and applicable Department Directors mustwill obtain at least two quotes to einsure the best financing rates. Staff will conduct a leavse versus buy analysis to determine the most cost- effective method. Lease pPerformance bBonds are sometimes prudent for lLease-p Purchases, and as such, the City Administrator and Finance Director will assist in determining if a lLease pPerformance bBond should be required. Real Estate The lease, purchase, or sale of real property is generally not subject to competitive bidding. 12 LA515\1\1093668.v1 Online Purchases Employees mustmay only purchase from vendors that use secure services for e-commerce. The City is required to paysubmit sales tax for out-of-state purchases. Withholding Certificates Before the City makes a final payment to a contractor under a contract requiring payment of employment for wages to employees, it must make sure the contractor and any subcontractors have complied with withholding tax laws. Contractors and subcontractors must show compliance by submitting a withholding affidavit to the MN Department of Revenue. This can be done electronically or by mailing a completed Form IC134, “Withholding Affidavit for Contractors.” If a contractor or subcontractor has withheld taxes as required, the Department of Revenue will return an electronic confirmation or sign and return the Form IC134, certifying compliance. The City must receive this certification of compliance before a final payment willcan be issued. Covered contracts are only those under which a contractor undertakes to supply labor or a combination of labor and materials for specific construction, repairs, rehabilitation or improvements. It does not apply to contractors for maintenance services or dealers, merchants and suppliers who supply materials only. The Department of Revenue requires the Form IC134 only be submitted in connection with contractors on construction projects. Others are not required to submit the form so this paragraph is only applicable toonly needs to be used on construction contracts. Federal Purchases Under uniform grant guidance (2 CFR 200.317 –326) there are additional procurement requirements that need to be considered when making purchases related to a federal program. Five procurement methods are identified including: micro-purchase (<$3,500), small purchase procedures (<$150,000), sealed bid (>$150,000), competitive proposal (>$150,000), and noncompetitive proposal (>$3,500). The general purchasing policy addresses many of these requirements and the City will also consider the full requirements in relation to each method as described in 2 CFR. The micro-purchase threshold which is set by Federal Acquisition Regulation at 48 CFR Subpart 2.1 is subject to change with inflation. The City will follow changes to thresholds as modifications occur. When practicable, micro-purchasing will be distributed among qualified suppliers. Ethics and Acceptance of Gifts Employees and cCouncil mMembers authorized to make a sale, lease, or contract in theiran official capacity must not have a personal financial interest in that sale, lease, or contract, or personally benefit financially from it. (See Minn. Stat. § 471.87) For non-business related purchases, employees may only take advantage of special pricing offered to employees of the City if the same pricing is offered to all government employees state or countrywide. However, special pricing offered to the City by vendors may not be accepted by employees in a position to make purchasing decisions or recommendations within that same category of goods or services. 13 LA515\1\1093668.v1 Public Purpose Expenditures City employees are obligated to conserve and protect City resources for the benefit of public interest. As good stewards of public funds, City employees must only use City funds for public purpose expenditures. The expenditure of City fFunds on meals and refreshments for City eEmployees, oOfficials, and vVolunteers is only authorized by the City Council for certain purposes. These purposes should be conducive to the accomplishment of employees or officials’’ duties and responsibilities while conducting City business and therefore provide a public benefit and have a public purpose. As detailed below, the purchase of meals and refreshments, using City fFunds is authorized in the following circumstances: • Those provided immediately before or in conjunction with meetings of the Council, committees or subgroups that are held over a meal time hour. • City business meetings at which those in attendance involve non-City employees. • When a breakfast, lunch or dinner meeting is conducted for official City business when it is the only practical time to meet and when it involves non-City employee participants. • In connection with a conference, workshop, seminar or meeting which the employee has been authorized to attend. • Department-sponsored meetings, conferences or workshops where invited participants include non- City employees. • An organization-wide or department-wide annual, quarterly or monthly staff meeting. • At regularly scheduled meetings of the City Administrator and key staff. • Meals for staff involved in election related duties when the performance of their duties prohibits staff from leaving the building. • At the discretion of the City Administrator. If you are unsure whether an item is a public purpose expenditure , please contact the City Administrator or Finance Director. 14 LA515\1\1093668.v1 Professional Service & Consultant Contracts Accountants, Architects, Engineers, Lawyers, Training, Technical/Scientific Services State Statue does not require advertisement of bids or sealed bids for professional services such as those of engineers, lawyers, architects, accountants, and other services requiring technical, scientific, or professional training. It is recommended that proposals be obtained through a request for proposal (RFP) process when such a process would provide the City with increased quality, a decreased price, or anticipated to exceed $100,000. State of Minnesota Bid, Quote, and Contract Requirements The Uniform Municipal Contracting Law, Minn esota. Statutes. Section§ 471.345 sets out procedures that cities must follow for contracts to sell, purchase, or rent supplies, materials, or equipment, or to construct, alter, repair, or maintain real or personal property. The estimated amount of the contract dictates which procedures apply. Of course, estimates should be reasonable. Contracts estimated to have a valuevalue of over $175,000 must be made by sealed bids, solicited by public notice, and awarded to the lowest responsible bidder. Bids should be retained for the period specified in the City’s records retention schedule. The requirement that the successful bidder be “responsible” protects cities from having to choose unqualified or unscrupulous low bidders. It allows a city council to consider factors such as the bidder’s financial responsibility, integrity, skill and ability, and the likelihood that the bidder will do satisfactory work. A city can even include evaluation criteria for “responsible” bidders in the bid specifications. Request for Proposal (RFP) State sStatue does not require advertisement of bids or sealed bids for professional services such as those of engineers, lawyers, architects, accountants, and other services requiring technical, scientific, or professional training. It is recommended that proposals be obtained through a request for proposal (RFP) process when the contract is estimated to exceed $175,000. The City recommends following an RFP process when soliciting professional consulting services greater than $175,000. The City Council must approve a the standard professional services agreement. Long term professional services contracts that rely on specialized expertise, institutional knowledge, and continuity of service may be procured through a formal RFP or qualification based selection process not more frequent than every five years. Recommended sections to include in aan RFP: 15 LA515\1\1093668.v1 • Background and scope of project. • Description of the scope of professional services to be provided . • Schedule for the delivery of services. • Contract terms. Include and reference as an attachment the City’s “Standard Professional Services Agreement”, except when using the City’s consulting pool. • The last day for submission of proposals and the place where they are due. • If necessary, include a requirement for attendance at a pre-proposal meeting to answer vendor questions regarding the RFP. This provides fairness to all participants when questions are answered with all participants present. Request that all questions be submitted in advance by a certain date. • Proposal evaluation and selection criteria. • Format required for submitted proposals to provide for consistent submittals. • Profile questionnaire to obtain general information about the vendor . • A statement reserving the right of the City to reject all proposals. At the discretion of the City Administrator, the RFP may be sent to the City attorney for review before it is sent to selected vendors. RFP’sRFPs should be sent to a reasonable/manageable number of vendors. While it is not strictly required per se, you may solicit proposals by advertising on the LMC’s website, the cCity’s website, or in a local newspaper or other appropriate sites. After the submittal deadline, review pProposals should be reviewed by using a rating sheet, and rate each pProposal should be evaluated based on the specifiedcations requirements and general informationcriteria. Follow up with reference checks as appropriate. Select a vendor and make a recommendation to the City Council. Standard Professional Services Agreement The City’s “Standard Professional Services Agreement” (contract) should be used for professional service contracts exceeding $175,000, except when using the City’s consulting pool. The City’s consulting pool list is maintained by the Engineering department. Vendors included in the consulting pool have continuing services agreements in place with the city. When a project is awarded to a vendor listed in the consulting pool, a task order is executed for the specific project scope, fee and budget with the general terms and conditions of the standard professional service agreement on file with the city. The Standard Professional Services Agreement outlines consultant obligations including insurance and liability coverage requirements, audit disclosure, subcontractors, and termination processes. This contract should be used for professional service agreements, except when using the City’s consulting pool. 16 LA515\1\1093668.v1 Disposition or Donation of Surplus Assets The City Administrator may recommend to the Council that certain property owned by the City is no longer needed for a municipal purpose and should be sold. There are three aspects to any disposal of a City asset: 1. Disposal Approval The City Council must approve the disposal of all property that exceeds an estimated value of greater than $100.00. 2. Terms of Sale Approval The sale itself must be approved by the City Council. 3. Proper Municipal Sale Contract Just as with purchasing, making a sale is considered entering into a contract. After the Council has declared the property as surplus, and approved its disposal, the City Administrator, or designee, is authorized to dispose of the property using one of the following methods: Assets under $25,000 If the value of the surplus property is estimated to be $25,000 or less, the City Administrator, or designee, may sell it either in the open market, by auction, or by obtaining two market comparisonsquotations, so far as practical. If the surplus property is sold based upon comparisonsquotation(s), it/they shall be kept on file for a period of at least one year after receipt. Assets between $25,000 - $100,000 ($175,000 effective August 1, 2018) If the value of the surplus property is estimated to exceed $25,000 but not to exceed $100,000 ($175,000 effective August 1, 2018),$175,000, the City Administrator, or designee, may sell the property upon sealed bids or by direct negotiation, by obtaining two or more quotations market comparisons for the sale, when possible, or by auction, subject to a minimum of 2 bidders or meeting an auction reserve as determined by City Council. All comparisonsquotations obtained shall be kept on file for a period of at least one year after their receipt. Assets over $100,000 ($175,000 effective August 1, 2018) $175,000 If the value of the surplus property is estimated to exceed $ 175,000 100,000 ($175,000 effective August 1, 2018), the City Administrator, or designee, shall solicit sealed bids by public notice in the manner and subject to the requirements of the law governing contracts by the City. Government to Government Sales The City may transfer real and personal property to another governmental entity for nominal or no consideration and without following the process set out under “Proper Municipal Sale Contract” ((Iitem #3) above). Sealed bids or quotes are not required. Council approval of the disposal (Iitem #1 above) and of the terms of the disposal ((Iitem #2 above) is always required. The Ccouncil may approve both the disposal and disposal terms in one action. 17 LA515\1\1093668.v1 Trade-ins The City Council must approve the disposal of equipment via trade-in to utilize toward the purchase of new equipment, just as it approves a regular disposal. This approval maycan be done as part of the approval of the purchase of new equipment. Electronic Sales Minn. Stat. 471.345, subd. 17 states that “a city may contract to sell supplies, materials, and equipment which is surplus, obsolete, or used, using an electronic selling process in which purchasers compete to purchase the items at the highest purchase price in an open and interactive environment.” Donations The City Council approved a Policy for Donation of Surplus Equipment to a Nonprofit Organization on February 7, 2018, and as such, said policy will govern the rules for donations for surplus equipment to a nonprofit organization. Restrictions No employee of the City who is a member of the administrative staff, department head, a member of the Council, or an advisor serving the City in a professional capacity may be a purchaser of property sold under this Section. Other City employees may be purchasers if they are not directly involved in the sale, if they are the highest responsible bidder, and if at least one (1) week's published or posted notice of sale is given. Versions:; May 15, 2018 Updated July 7 , 2026 Purchasing Policy July 7, 2026 2 Table of Contents City of Lake Elmo Purchasing Procedures ................................................................................................... 3 General Purchasing Procedures .................................................................................................................. 3 Construction, Contract Services, and Purchase (Goods) Contracts ................................................... 5 Authorization Thresholds and Requirements ....................................................................................... 6 Over $100,000 ($175,000 effective August 1, 2018) with labor - Performance Bond .......... 7 Awarding Contracts ......................................................................................................................................... 7 Best Value Procurement Alternative ......................................................................................................... 7 Cooperative Purchasing Procedures ......................................................................................................... 8 Change Orders .................................................................................................................................................... 9 Other Bidding Requirements ........................................................................................................................ 9 Purchase or Lease of Used Public Safety Equipment .......................................................................... 9 Leases and Lease Purchases ...................................................................................................................... 10 Real Estate ........................................................................................................................................................ 10 Online Purchases ............................................................................................................................................ 10 Withholding Certificates ............................................................................................................................. 10 Ethics and Acceptance of Gifts .................................................................................................................. 10 Public Purpose Expenditures .................................................................................................................... 11 Professional Service & Consultant Contracts ................................... Error! Bookmark not defined. Disposition or Donation of Surplus Assets ............................................................................................... 13 Government to Government Sales ........................................................................................................... 14 Trade-ins ........................................................................................................................................................... 14 Electronic Sales ............................................................................................................................................... 14 Restrictions....................................................................................................................................................... 15 3 City of Lake Elmo Purchasing Procedures Effective July 7, 2026 These purchasing procedures are intended to provide a consistent manner of purchasing goods and services Citywide. Employees should secure the best balance between quantity, quality, and price when purchasing for the City. General Purchasing Procedures • The City of Lake Elmo has a “decentralized” purchasing program; purchasing is the responsibility of each Department Director or designated individual. • The level of budgetary control is established at the department level. Expenditures for departments that exceed appropriations are not authorized unless additional revenue sources, unspent appropriations, or fund balances are identified and available. Budget Amendments should be submitted for review and approval by the City Council as appropriate. • The Finance Department normally processes payments twice per month, which is the week preceding the City Council meeting and invoices are paid by due date. Fully completed Payment Voucher forms must be submitted by 4:30 pm on the Tuesday before the City Council packet is due. This will ensure inclusion in the packet for which the City Council will consider at the subsequent meeting. Additional payment batches may occur within the limits of this policy and will be reported at the next available City Council meeting. • Payments will be made only from invoices or expense reimbursement forms. • Persons authorizing payments are responsible for verifying that goods are received, services provided, that they are necessary, and that no duplicate payments occurred. Signature(s) are required by authorized individual(s) in order to be processed for payment. • Persons authorizing payments are responsible for coding invoices and ensuring that correct account codes are used. If there are questions regarding coding, contact the Finance Department for assistance. • Contracts to which the City is a party shall be brought to the City Council for consideration and if approved, will be signed by the Mayor and the City Clerk on behalf of the City. • Generally accepted accounting principles will be followed. At year-end, invoices received early in the following year for goods or services provided in the previous year will typically be charged to the prior year. The year to which an invoice will be charged is based on the financial statement/audit cut-off date and the materiality of the item. If you have any questions about this, please contact a member of the Finance Department. 4 • Employees will not make any purchases for personal use through the City. • Minnesota Statutes Sections 471.87 and 471.88 prohibit the purchase of goods and services wherever a conflict of interest may exist. The City of Lake Elmo requires employees to disclose to their immediate supervisor any personal financial interest in the selling or buying of goods or services for the City. No purchase orders, contracts or service agreements shall be given to an employee of the City or to a partnership or corporation of which an employee is a major stockholder or principal. No employee shall enter into a relationship with a vendor where the employee's actions are, or could reasonably be viewed as, not in the best interests of the City. If any employee becomes involved in a possible conflict of interest situation, the employee shall disclose the nature of the possible conflict to his or her supervisor and to the City Administrator. The City Administrator shall promptly notify the individual in writing of an approval or disapproval of the activity. If disapproved, the employee shall remove himself or herself from the conflict of interest situation. • Minnesota Statutes Section 12.37 gives the City the ability to declare an emergency for a limited period of time. During such an emergency, the City is not required to use the typically mandated procedures for purchasing and contracts. Emergency purchases require approval by the City Administrator or Finance Director, and when necessary because of the dollar amount, formal City Council action. An emergency purchase is defined as one where an immediate response is required to protect the health, welfare or safety of the public or public property. • The City has a credit card program available for employees who frequently purchase items for the City. Employees using a City credit card must adhere to the City’s Credit Card Policy. • Travel-related purchases should be made following the City’s travel guidelines in the Personnel Policy. Employee Expense Reimbursement: Reimbursement – Request for reimbursement for an eligible City expenditure/expense, must be made via the Employee Reimbursement Form. Appropriate documentation must be attached. Reimbursements are paid through the payroll process on the next available payroll if submitted to Finance by the prior Thursday. 5 Purchasing Guidelines & Procurement Options The Uniform Municipal Contracting Law establishes procedures that cities must follow for contracts to sell, purchase or rent supplies, materials, or equipment, or to construct, alter, repair or maintain real or personal property. Below are the procurement options based on the estimated amount of the contract. For purposes of this Policy, a contract is defined as a formal agreement that establishes binding obligations, conditions, and risk allocations between the City and another party. Contracts include provisions that extend beyond routine purchasing terms—such as insurance requirements, indemnification, liability allocation, and other legal protections that may impact the City’s financial or legal exposure over time. Approval Authority • City Council Approval is Required: For any contract that includes or modifies contractual conditions—such as insurance, indemnification, or other legal risk provisions. • Administrative (Staff) Approval: Agreements that are limited to standard purchasing terms, do not alter contractual conditions, and fall within an already approved budget or authorized spending threshold may be executed by City staff without additional Council approval. Quick Reference Guide Required Approvals Contract or Purchase Amount Procurement Options Director City Admin. City Council Less than $5,000 • Open Market • Direct Negotiation X $5,000 - $15,000 • Open Market • Direct Negotiation w/ 2 quotations obtained whenever possible. X X $15,000 but not more than $175,000 • Sealed Bids • Direct Negotiation • Cooperative Purchasing Contracts • Request for Proposals X X X (unless delegated) $50,000 and greater if being assessed • Sealed Bids per M.S. 471.345, Subd. 3 • Cooperative purchasing contracts that comply with the bidding process. X X X $100,000 and greater for Professional Services • Cooperative Purchasing Contracts • RFP (no more frequently than every 5 years for long- term professional services contracts). X X X $175,000 and greater • Sealed Bids per M.S. 471.345, Subd. 3 • Cooperative Purchasing Contracts that comply with the bidding process. X X X 6 Authorization Thresholds and Requirements: Less than $500.00 – Department Director Purchases may be obtained through open market or direct negotiations. $500.00 to $5,000 – Department Director Purchases may be obtained through open market or direct negotiation, with two quotations obtained whenever possible. Quotations must be retained for at least one year. $5,000.01 to $15,000.00 – City Administrator Purchases may be obtained through open market or direct negotiation, with two quotations obtained whenever possible. Quotations must be retained for at least one year. $15,000.01 but not greater than $175,000 – City Council or City Administrator as Delegated Purchases may be obtained through sealed bids, or cooperative purchasing contracts, or direct negotiation, with two quotations obtained whenever possible. Quotations must be retained for at least one year. Cooperative purchasing contracts should be considered for contracts over $25,000 and may be used in lieu of sealed bids or quotes. The City Council should approve purchases in this range, except as delegated to the City Administrator for the following routine budgeted items: • Payroll and payroll-related expenses • Insurance premiums • Routine operations (utilities, supplies, cleaning services, routine maintenance, etc.) • Building & Development Escrow Releases • Increases up to an individual’s authorization limit for a previously Council-approved item, • Payments due to other units of government or payments required to be made before the next regular meeting of the Council to avoid endangering public safety, public or private property, or interrupting City services. Disbursements made under the above delegation shall be reported to Council at the next regular meeting, per Minnesota Statute 412.271, Subd. 8. Due to the cost of preparing sealed bids, and the additional length of time required in this process, the use of sealed bids for this threshold should only be used when deemed necessary. $100,000 and Greater for Professional Services – City Council Purchases may be obtained through cooperative purchasing contracts, or direct negotiation , RFP, with two quotations obtained whenever possible. For long-term professional services, RFPs should not be more frequent than every 5 years, unless deemed necessary by the City Council. Greater than $175,000, or Greater than $50,000 if Being Specially Assessed Purchases must be obtained by sealed bids solicited by public notice as required under Minnesota Statutes Section 471.345, subdivision 3. City staff must obtain authorization from the City Council to prepare plans and specifications for the bids. The City Attorney must review the plans and specifications including the 7 contract prior to advertisement for bids. Cooperative purchasing contracts should be considered for contracts over $25,000 and may be used in lieu of sealed bids. Advertisement for sealed bids must be published in the City’s Official Newspaper and advertised on QuestCDN at least ten days before the last date for submission of bids. The published notice must contain the following: • A description of the project or the purchase • The availability of specifications including their location (i.e., located in the Office of the City Clerk) • The last day for submission of bids and the place where they are due • The time and place for opening bids • A statement reserving the right of the City to reject all bids The bids must be opened and tabulated at the time and place specified in the advertisement for bids. Preferably, this should be completed approximately 10 business days in advance of the City Council meeting to allow for a thorough review and tabulation of the bids, and to allow for reference checks as appropriate. A recommendation can then be made to the City Council, and the City Council will award or deny the contract. Bids rejected by City Council must be kept on file for 6 years and the accepted bid must be retained for 10 years after completion of the project. As an alternative to this procurement method, the City may award a contract for construction, alteration, repair, or maintenance work to the vendor or contractor offering the best value under a request for proposals as described in Minnesota Statutes Section 16C.28, subdivision 1, paragraph (a), clause (2), and paragraph (c). City staff must be trained in the “best value” procurement method in accordance with Minnesota Statutes Section 16C.28, subdivision 1d. Greater than $175,000 - Performance and Payment Bond For contracts over $175,000, performance and payment bonds in amounts not less than the contract price are required from the contractor. If change orders substantially increase the amount of the contract, the City Council has the option to increase the required amount of the contractor’s bond. Awarding Contracts For contracts procured through sealed bids or multiple quotes, the City must award the contract to the lowest responsible bidder. The bidder who submits the lowest bid or quote in dollars is not necessarily the “lowest responsible bidder.” Best Value Procurement Alternative Minnesota Statute 412.311 allows the City to use a Best Value procurement alternative for contracts for construction, building, alteration, improvement, or repair work. In that event, the contract may be awarded to the contractor or vendor offering the “best value” under a request for proposals as described in Minnesota Statutes Section 16C.28, subdivision 1, paragraph (a), clause (2), and paragraph (c). Please contact the City 8 Administrator or Finance Director if you wish to consider using the Best Value Procurement Alternative as training is required prior to initiating procurement. Cooperative Purchasing Procedures Cooperative purchasing contracts provide an opportunity for the City to purchase goods and services at reduced costs. Employees do not need to obtain quotes or bids if a purchase is made through a national municipal association purchasing alliance or a cooperative created by a joint powers agreement (of which the City is a member) that purchases items from more than one source based on competitive bids or quotations that complies with state statute. The following is a list of some of the larger purchasing cooperatives of which the City is a member: 1. Cooperative Purchasing Ventures (CPV) Minnesota Statutes Section 471.345, Subd. 15 requires cities to consider the State’s Cooperative Purchasing Venture (CPV) for contracts estimated to exceed $25,000. The City of Lake Elmo participates in the State of Minnesota Cooperative Purchasing Venture (CPV). This enables the City to buy goods and services under the terms of contracts already negotiated by the State of Minnesota. Information for this cooperative can be found on the State of Minnesota’s Materials Management Division website: http://www.mmd.admin.state.mn.us/cpv2.htm The website can direct employees to the releases and listings of the products/services that can be purchased using the State Cooperative Purchasing Venture. If it is determined that a product/service is on a State Cooperative Purchasing Venture, vendors should be told that the purchase will be made using that contract. When completing the purchasing paperwork, note that the purchase is per “state contract” and indicate the contract number. Vendors will often contend that the City can purchase from them without bidding because they are on the “state contract” or they will sell at the state contract price. Beware of these approaches. Verify that both the vendor and the specific product/service is listed on the state contract. It is likely that no t all of a vendor’s products/services have been selected to be on the state contract. If a vendor is not on the state contract, but will match the state contract price, this action does not exempt the City from following the competitive bidding laws. 2. Minnesota State Fire Chiefs Association – Fire Rescue Group Purchasing The Fire Rescue Group Purchasing is a fire services purchasing program open to all Cities. 3. Cooperative Purchasing Programs At times, the City may participate in the following purchasing programs; • OMNIA Partners - Omniapartners.com • Sourewell - Sourcewell-mn.gov • HGAC – hgacbuy.org 9 4. Joint Powers Member Any other joint powers purchasing entity of which the City is a member that provides for purchases in accordance with Minnesota Statutes Section 471.345, subdivision 15(b) is also exempt from the quote or bid process. In all items outlined pertaining to cooperatives, please contact the City Administrator or Finance Director if you have any questions. Change Orders Change orders may occur due to City driven changes, errors and omissions, field directives, unforeseen/hidden conditions, regulatory requirements or changes that are contractor driven. Changes that need to be made during construction often need to be addressed and approved in a timely manner in order to keep the project on schedule. 1) For a change order less than $100,000, which does not result in exceeding the overall project budget, the City Administrator may approve these. 2) At the discretion of the City Administrator, for a change order less than $100,000, but still within the scope of the overall project budget, it may be presented to the City Council for consideration and approval. 3) For any change order that results in exceeding the overall project budget, and/or exceeds $100,000 must be approved by the City Council. Other Bidding Requirements • The City must not avoid competitive bidding requirements by splitting a contract into several contracts, each of which is below the minimum amount requiring bids. • Bid specifications may not be written so as to exclude all but one type or kind of supplies or equipment unless it is for public safety equipment that is clearly and legitimately limited to a single source of supply. • The City may not accept a bid that includes a number of items when the advertisement called for separate bids for each item. • The City must re-bid the contract if the City makes a material change in the specifications of the contract. • Minnesota Statutes Chapter 429 (local improvement code) applies to all public improvement contracts (i.e., sewer, water and streets) being financed with special assessments. Purchase or Lease of Used Public Safety Equipment In 2011, cities were granted authority to lease or purchase used public safety equipment (“vehicles and specialized equipment used by a fire department … in firefighting, ambulance and emergency medical treatment services, rescue, and hazardous materials response”) without competitively bidding in certain specified circumstances. Competitive bidding or proposals are not required, “if the equipment is clearly and 10 legitimately limited to a single source of supply, and the contract price may be best established by direct negotiation.” See Minnesota Statutes Section 471.3455. Equipment Leases and Lease-Purchases All lease agreements require review by the Finance Director, and legal counsel and City Council approval is required for all leases. For the leasing of equipment, Department Directors must obtain at least two quotes to ensure the best financing rates. Staff will conduct a lease versus buy analysis to determine the most cost- effective method. Lease performance bonds are sometimes prudent for lease-purchases, and as such, the City Administrator and Finance Director will assist in determining if a lease performance bond should be required. Real Estate The lease, purchase, or sale of real property is generally not subject to competitive bidding. Online Purchases Employees must only purchase from vendors that use secure services for e-commerce. The City is required to pay sales tax for out-of-state purchases. Withholding Certificates Before the City makes a final payment to a contractor under a contract requiring payment of wages to employees, it must make sure the contractor and any subcontractors have complied with withholding tax laws. Contractors and subcontractors must show compliance by submitting a withholding affidavit to the MN Department of Revenue. This can be done electronically or by mailing a completed Form IC134, “Withholding Affidavit for Contractors.” If a contractor or subcontractor has withheld taxes as required, the Department of Revenue will return an electronic confirmation or sign and return the Form IC134, certifying compliance. The City must receive this certification of compliance before a final payment will be issued. Covered contracts are only those under which a contractor undertakes to supply labor or a combination of labor and materials for specific construction, repairs, rehabilitation or improvements. It does not apply to contractors for maintenance services or dealers, merchants and suppliers who supply materials only. The Department of Revenue requires the Form IC134 only be submitted in connection with contractors on construction projects. Others are not required to submit the form so this paragraph is only applicable to construction contracts. Ethics and Acceptance of Gifts Employees and council members authorized to make a sale, lease, or contract in their official capacity must not have a personal financial interest in that sale, lease, or contract, or personally benefit financially from it. (See Minn. Stat. § 471.87) For non-business related purchases, employees may only take advantage of special pricing offered to employees of the City if the same pricing is offered to all government employees state or countrywide. However, special pricing offered to the City by vendors may not be accepted by employees in a position to make purchasing decisions or recommendations within that same category of goods or services. 11 Public Purpose Expenditures City employees are obligated to conserve and protect City resources for the benefit of public interest. As good stewards of public funds, City employees must only use City funds for public purpose expenditures. The expenditure of City funds on meals and refreshments for City employees, officials, and volunteers is only authorized by the City Council for certain purposes. These purposes should be conducive to the accomplishment of employees or officials’ duties and responsibilities while conducting City business and therefore provide a public benefit and have a public purpose. As detailed below, the purchase of meals and refreshments, using City funds is authorized in the following circumstances: • Those provided immediately before or in conjunction with meetings of the Council, committees or subgroups that are held over a meal time hour. • City business meetings at which those in attendance involve non-City employees. • When a breakfast, lunch or dinner meeting is conducted for official City business when it is the only practical time to meet and when it involves non-City employee participants. • In connection with a conference, workshop, seminar or meeting which the employee has been authorized to attend. • Department-sponsored meetings, conferences or workshops where invited participants include non- City employees. • An organization-wide or department-wide annual, quarterly or monthly staff meeting. • At regularly scheduled meetings of the City Administrator and key staff. • Meals for staff involved in election related duties when the performance of their duties prohibits staff from leaving the building. • At the discretion of the City Administrator. If you are unsure whether an item is a public purpose expenditure , please contact the City Administrator or Finance Director. 12 State of Minnesota Bid, Quote, and Contract Requirements The Uniform Municipal Contracting Law, Minn esota Statutes Section 471.345 sets out procedures that cities must follow for contracts to sell, purchase, or rent supplies, materials, or equipment, or to construct, alter, repair, or maintain real or personal property. The estimated amount of the contract dictates which procedures apply. Of course, estimates should be reasonable. Contracts estimated to have a value of over $175,000 must be made by sealed bids, solicited by public notice, and awarded to the lowest responsible bidder. Bids should be retained for the period specified in the City’s records retention schedule. The requirement that the successful bidder be “responsible” protects cities from having to choose unqualified or unscrupulous low bidders. It allows a city council to consider factors such as the bidder’s financial responsibility, integrity, skill and ability, and the likelihood that the bidder will do satisfactory work. A city can even include evaluation criteria for “responsible” bidders in the bid specifications. Request for Proposal (RFP) State statue does not require advertisement of bids or sealed bids for pr ofessional services such as those of engineers, lawyers, architects, accountants, and other services requiring technical, scientific, or professional training. It is recommended that proposals be obtained through a request for proposal (RFP) process when the contract is estimated to exceed $175,000. The City recommends following an RFP process when soliciting professional consulting services greater than $175,000. The City Council must approve the standard professional services agreement. Long term professional services contracts that rely on specialized expertise, institutional knowledge, and continuity of service may be procured through a formal RFP or qualification based selection process not more frequent than every five years. Recommended sections to include in an RFP: • Background and scope of project. • Description of the scope of professional services to be provided . • Schedule for the delivery of services. • Contract terms. Include and reference as an attachment the City’s “Standard Professional Services Agreement”, except when using the City’s consulting pool. • The last day for submission of proposals and the place where they are due. 13 • If necessary, include a requirement for attendance at a pre-proposal meeting to answer vendor questions regarding the RFP. This provides fairness to all participants when questions are answered with all participants present. Request that all questions be submitted in advance by a certain date. • Proposal evaluation and selection criteria. • Format required for submitted proposals to provide for consistent submittals. • Profile questionnaire to obtain general information about the vendor . • A statement reserving the right of the City to reject all proposals. At the discretion of the City Administrator, the RFP may be sent to the City attorney for review before it is sent to selected vendors. RFPs should be sent to a reasonable/manageable number of vendors. While it is not strictly required, you may solicit proposals by advertising on the LMC’s website, the City’s website, or in a local newspaper or other appropriate sites. After the submittal deadline, proposals should be reviewed by using a rating sheet, and each proposal should be evaluated based on the specified requirements and general criteria. Follow up with reference checks as appropriate. Select a vendor and make a recommendation to the City Council. Standard Professional Services Agreement The City’s “Standard Professional Services Agreement” (contract) should be used for professional service contracts except when using the City’s consulting pool. The City’s consulting pool list is maintained by the Engineering department. Vendors included in the consulting pool have continuing services agreements in place with the city. When a project is awarded to a vendor listed in the consulting pool, a task order is executed for the specific project scope, fee and budget with the general terms and conditions of the standard professional service agreement on file with the city. The Standard Professional Services Agreement outlines consultant obligations including insurance and liability coverage requirements, audit disclosure, subcontractors, and termination processes. Disposition or Donation of Surplus Assets The City Administrator may recommend to the Council that certain property owned by the City is no longer needed for a municipal purpose and should be sold. There are three aspects to any disposal of a City asset: 1. Disposal Approval The City Council must approve the disposal of all property that exceeds an estimated value of greater than $100.00. 2. Terms of Sale Approval The sale itself must be approved by the City Council. 14 3. Proper Municipal Sale Contract Just as with purchasing, making a sale is considered entering into a contract. After the Council has declared the property as surplus, and approved its disposal, the City Administrator, or designee, is authorized to dispose of the property using one of the following methods: Assets under $25,000 If the value of the surplus property is estimated to be $25,000 or less, the City Administrator, or designee, may sell it either in the open market, by auction, or by obtaining two market comparisons, so far as practical. If the surplus property is sold based upon comparisons, it/they shall be kept on file for a period of at least one year after receipt. Assets between $25,000 - $175,000 If the value of the surplus property is estimated to exceed $25,000 but not to exceed $175,000, the City Administrator, or designee, may sell the property upon sealed bids or by direct negotiation, by obtaining two or more market comparisons for the sale, when possible, or by auction, subject to a minimum of 2 bidders or meeting an auction reserve as determined by City Council. All comparisons obtained shall be kept on file for a period of at least one year after their receipt. Assets over $175,000 If the value of the surplus property is estimated to exceed $ 175,000), the City Administrator, or designee, shall solicit sealed bids by public notice in the manner and subject to the requirements of the law governing contracts by the City. Government to Government Sales The City may transfer real and personal property to another governmental entity for nominal or no consideration and without following the process set out under “Proper Municipal Sale Contract” (Item #3 above). Sealed bids or quotes are not required. Council approval of the disposal (Item #1 above) and of the terms of the disposal (Item #2 above) is always required. The Council may approve both the disposal and disposal terms in one action. Trade-ins The City Council must approve the disposal of equipment via trade-in to utilize toward the purchase of new equipment, just as it approves a regular disposal. This approval may be done as part of the approval of the purchase of new equipment. Electronic Sales Minn. Stat. 471.345, subd. 17 states that “a city may contract to sell supplies, materials, and equipment which is surplus, obsolete, or used, using an electronic selling process in which purchasers compete to purchase the items at the highest purchase price in an open and interactive environment.” Donations The City Council approved a Policy for Donation of Surplus Equipment to a Nonprofit Organization on February 7, 2018, and as such, said policy will govern the rules for donations for surplus equipment to a nonprofit organization. 15 Restrictions No employee of the City who is a member of the administrative staff, department head, a member of the Council, or an advisor serving the City in a professional capacity may be a purchaser of property sold under this Section. Other City employees may be purchasers if they are not directly involved in the sale, if they are the highest responsible bidder, and if at least one week's published or posted notice of sale is given. Versions: May 15, 2018 Updated July 7, 2026 Vendor Report Vendors whose total payments exceed $15,000 YTD. (thru 5/20/26) Category was manually assigned by staff to show the types of purchases. Vendor YTD for Vendor Category Note Alex Air Apparatus 2 LLC 33,712 CIP Item & Routine Tender 2 Equip & Other Equip Bolton & Menk, Inc 465,624 Routine City Engineer Braun Intertec Corporation 54,598 CIP Items CIP Project Engineering BS&A Software LLC 122,391 CIP Item Financial Software CivicPlus LLC 43,739 Routine Website / Asset Mgmt Software Cloudpermit Inc 16,250 Routine Permitting Software Creative Homes Inc 22,926 Routine Escrow Releases Eckberg Lammers 17,682 Routine Criminal Attorney Emergency Apparatus Maint Inc 19,171 Routine & Budgeted Non- Routine Fire Truck Repairs HEALTHEQUITY INC 35,282 Routine Payroll - Benefits Hoisington Koegler Group Inc 16,461 Routine Landscape Architect Internal Revenue Service 283,862 Routine Payroll - Taxes IUOE Local 49 Fringe Benefit Fund 76,060 Routine Payroll - Benefits Kath Fuel Oil Service Co 26,571 Routine Fuel Kennedy & Graven Chartered 17,215 Routine City Attorney Lake Elmo Bank 115,369 Routine Bond Payment League of MN Cities 20,394 Routine Membership League of MN Cities Insur Trust 331,616 Routine Insurance Lennar Minnesota 195,000 Routine Escrow Releases METRO - INET 60,967 Routine IT Support Metropolitan Council 451,549 Routine Sewer MILESTONES 103,748 Routine Escrow Releases MN DEPT OF REVENUE 56,584 Routine Payroll - Taxes MN PEIP 136,690 Routine Payroll - Benefits MN State Retirement System 27,371 Routine Payroll - Benefits MUTUAL OF OMAHA 29,358 Routine Payroll - Benefits Northland Bond Services 2,317,786 Routine/Pre-Approved Bond Payments Pearson Bros Inc 26,000 Routine Escrow Releases PERA 218,605 Routine Payroll - Benefits Pulte Homes of MN LLC 22,791 Routine Escrow Releases Robert Engstrom Companies 20,953 Routine Escrow Releases Rosenbauer Minnesota LLC 507,150 CIP Tender 2 Schlenner Wenner & Co 30,597 Routine Audit SRF Consulting Group Inc 18,638 Routine Engineer - Crosswalk Reviews Tri State Bobcat 16,593 Routine & Budgeted Non- Routine Repairs/Supplies & New Lawnmower US BANK 3,706,859 Routine/Pre-Approved Bond Payments Xcel Energy 131,154 Routine Utilities Invoice Report Invoices Exceeding $15,000. (as of 5/20/26) Category was manually assigned by staff to show the types of purchases. Approval Levels are Staff's interpretation of proposed policy. Vendor Name Invoice Number Invoice Amount Category Note Purchase Approval Level / Basis Disbursement Approval Level / Basis I n 15K +175K+ Creative Homes Inc LEB 2025-01353 REF 22,926 Routine Escrow Releases City Admin - Delegated / Policy City Admin Yes No HEALTHEQUITY INC REMIT 31,044 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No Internal Revenue Service REMIT 29,544 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No Internal Revenue Service REMIT 29,014 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No Internal Revenue Service REMIT 35,170 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No Internal Revenue Service REMIT 29,315 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No Internal Revenue Service REMIT 32,568 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No Internal Revenue Service REMIT 28,098 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No Internal Revenue Service REMIT 35,077 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No Internal Revenue Service REMIT 37,751 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No Internal Revenue Service REMIT 35,037 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No League of MN Cities 441870 16,319 Routine Membership City Admin - Delegated / Policy City Admin Yes No League of MN Cities Insur Trust 10002726-WC 101,382 Routine Insurance City Admin - Delegated / Policy City Admin Yes No League of MN Cities Insur Trust 10003136 - PREM 2026 165,808 Routine Insurance City Admin - Delegated / Policy City Admin Yes No Metropolitan Council 20260228 SAC 22,141 Routine SAC Remittance City Admin - Delegated / Policy City Admin Yes No Metropolitan Council 20260430 SAC 22,241 Routine SAC Remittance City Admin - Delegated / Policy City Admin Yes No Metropolitan Council 20260331 SAC 41,823 Routine SAC Remittance City Admin - Delegated / Policy City Admin Yes No Metropolitan Council 1199364 69,223 Routine Sewer City Admin - Delegated / Policy City Admin Yes No Metropolitan Council 1199759 69,223 Routine Sewer City Admin - Delegated / Policy City Admin Yes No Metropolitan Council 1202617 69,223 Routine Sewer City Admin - Delegated / Policy City Admin Yes No Metropolitan Council 1204428 69,223 Routine Sewer City Admin - Delegated / Policy City Admin Yes No Metropolitan Council 1205720 69,223 Routine Sewer City Admin - Delegated / Policy City Admin Yes No MN DEPT OF REVENUE REMIT 56,584 Routine Payroll - Taxes City Admin - Delegated / Policy City Admin Yes No MN PEIP 1599535 23,757 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No MN PEIP 1622994 27,552 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No MN PEIP 1629581 27,552 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No MN PEIP 1591960 27,919 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No MN PEIP 1613941 29,910 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No MN State Retirement System REMIT 27,371 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No Pearson Bros Inc 6411 26,000 Routine Escrow Releases City Admin - Delegated / Policy City Admin Yes No PERA REMIT 23,676.12 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No PERA REMIT 22,941.29 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No PERA REMIT 23,946.65 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No PERA REMIT 24,613.93 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No PERA REMIT 24,169.39 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No PERA REMIT 24,073.41 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No PERA REMIT 24,754.70 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No PERA REMIT 24,089.92 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No PERA REMIT 24,723.09 Routine Payroll - Benefits City Admin - Delegated / Policy City Admin Yes No Xcel Energy 963644326 29,557 Routine Utilities City Admin - Delegated / Policy City Admin Yes No MILESTONES 20260107 LOC RED 103,748 Routine Dev Escrow Release Comm. Dev. Director (City Code 105.12.1250)City Admin Yes No Pulte Homes of MN LLC 20260107 ESCREL 22,791 Routine Dev Escrow Release Comm. Dev. Director (City Code 105.12.1250)City Admin Yes No Robert Engstrom Companies 20260129 ESC RED 20,953 Routine Dev Escrow Release Comm. Dev. Director (City Code 105.12.1250)City Admin Yes No Alex Air Apparatus 2 LLC INV-53783 19,140 CIP Item Tender 2 Equip & Other Equip Council Council Yes No Braun Intertec Corporation IN1003362 38,676 CIP Item CIP Project Engineering Council Council Yes No BS&A Software LLC 164990 36,995 CIP Item Financial Software Council Council Yes No BS&A Software LLC 165926 64,355 CIP Item Financial Software Council Council Yes No CivicPlus LLC 374467 21,855 Routine Website / Asset Mgmt Software (new contract)Council Council Yes No Cloudpermit Inc INV902035 16,000 Routine Permitting Software Council Council Yes No Bolton & Menk, Inc 388432 27,011 Routine City Engineer Council City Admin Yes No Bolton & Menk, Inc 386494 31,710 Routine City Engineer Council City Admin Yes No Bolton & Menk, Inc 388466 34,497 Routine City Engineer Council City Admin Yes No Rosenbauer Minnesota LLC 87151 507,150 CIP Item Tender 2 Council Council Yes Yes IUOE Local 49 20260301 15,075 Routine Payroll - Benefits Council (prior contracts)City Admin Yes No IUOE Local 49 20260401 15,075 Routine Payroll - Benefits Council (prior contracts)City Admin Yes No IUOE Local 49 Fringe Benefit Fund20260601 15,075 Routine Payroll - Benefits Council (prior contracts)City Admin Yes No IUOE Local 49 Fringe Benefit Fund20260501 16,750 Routine Payroll - Benefits Council (prior contracts)City Admin Yes No Lake Elmo Bank 2018EQUIP CERT 119,180 Routine Bond Payment Council (prior contracts)City Admin Yes No Schlenner Wenner & Co 339866 30,000 Routine Audit Council (prior contracts)City Admin Yes No US BANK 3091756 404,703 Routine/Pre-Approved Bond Payments Council (prior contracts)City Admin (prior contract delegation)Yes Yes US BANK 3093881 469,700 Routine/Pre-Approved Bond Payments Council (prior contracts)City Admin (prior contract delegation)Yes Yes US BANK 3024224 499,050 Routine/Pre-Approved Bond Payments Council (prior contracts)City Admin (prior contract delegation)Yes Yes US BANK 3091830 927,216 Routine/Pre-Approved Bond Payments Council (prior contracts)City Admin (prior contract delegation)Yes Yes US BANK 3091820 1,405,616 Routine/Pre-Approved Bond Payments Council (prior contracts)City Admin (prior contract delegation)Yes Yes STAFF REPORT DATE: 7/7/26 REGULAR TO: Mayor and Councilmembers FROM: Nathan Fuerst, Consulting Planner REVIEWED BY: Jason Stopa, Community Development Director Sophia Jensen, Senior City Planner AGENDA ITEM: Final Plat – Highpointe Crossing CORE STRATEGIES: ☒ Vibrant, inclusive, connected community ☒ Responsive, transparent, adaptive governance ☒ Managed Growth ☒ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☒ Resilient Infrastructure BACKGROUND: On May 5, 2026, the City Council conditionally approved a request for a Preliminary Plat for 18 single family lots on approximately 80 acres of land located West of Inwood Avenue between the Lake Elmo Heights and Torre Pines developments. Rachel Development, the developer, is now requesting approval of a final plat. ISSUE BEFORE COUNCIL: Should the City Council approve the final plat for Highpointe Crossing? PROPOSAL DETAILS/ANALYSIS: Applicant: Rachel Development, Inc., Paul Robinson, Development Director Property Owner: Allan Eberhard, Trustee of Caroline M. Eberhard Trust Location: 2298 Inwood Ave, N. (PID# 21.029.21.32.0001) Request: Final Plat Land Use Map Rural Single Family Zoning Residential Estate Deadline: Application Complete – 6/11/2026 60 Day Deadline – 8/10/2026 Overall Plat Summary: Total Site Area 78.24 acres Wetland Area 2.648 acres Right-of-Way (ROW) 1.806 acres Net Site Area 73.786 acres Number of Units 18 Net Density 0.244 units/acre This density is consistent with the City’s Comprehensive Plan. Final Plat Conformance. The Final Plat is generally consistent with the approved Preliminary Plat. A review of the conditions of approval from the Preliminary Plat and PUD are provided in this report. Environmental Review. The number of unattached residential units in this project does not trigger a mandatory Environmental Assessment Worksheet under Minnesota Rules 4410.4300. Plan Review. Cells in the ‘As Proposed’ cells shaded in green indicate a variance that has been granted from City Code. Standards (105.12.630) RE Requirement: As Proposed Minimum Lot Area 2.5 ac 2.56 to 5.21 ac 3.59 ac average Minimum Lot Width NA NA Max Impervious Cover 15% per lot 15% Buildable Lot Area (no floodplain or easements) 1.25 ac 1.80 to 4.62 ac 2.61 ac average Lot Shape 250’ diameter/ max. 3:1 lot length/width ratio All lots meet requirement Minimum Setback - Front 100 feet 50’ Minimum Setback - Side 50 feet 50’ Minimum Setback - Corner 80 feet 80’ Minimum Setback - Rear 100 feet 100’ Maximum Height 35 feet Not provided Driveway Setback from intersection 50 feet from r-o-w 50+ feet from ROW Driveway setback from side lot line 5 feet Driveway locations/widths not provided Driveway Width 12-26 feet Driveway locations/widths not provided Landscaping per Disturbed Acre 5 trees per disturbed acre 3 trees per lot Sidewalks Sidewalk on one side of street No sidewalks The proposed development is not a PUD; however, as part of the preliminary plat approval, the City Council approved three variances as summarized below: 1. Reduced Front Yard Setbacks (LEC 105.12.630). A 50’ front yard setback for all new construction, and a 20’ front yard setback for the existing home. 2. Landscaping Requirements (LEC 105.12.480,[c,12]). A variance to the required number of plantings per acre was approved with the condition the Developer plan at least 3 trees per lot. 3. Sidewalks on Ones Side of Street (LEC 103.00.140, [j,5]). The Council approved a variance to this requirements so no sidewalks are required. Lot Configuration. All 18 lots appear to meet the City’s bulk standards for area and width, including the unique requirements found in rural districts for a 250’ diameter circle to fit in the lot. In addition to this, the lots appear consistent with city standards for subdivisions found in section 103.00.140. Design and development standards. Specific standards are created for rural developments by City Code Sec. 105.12.650. This development is anticipated to meet applicable standards for dwelling area, on-site sewage treatment (SSTS) systems, and vehicle parking. City code contains minimal requirements for design and building materials on single family dwellings, particularly in rural development. The resulting single family homes are anticipated to exceed applicable design standards. Subdivision Signs. Section 105.12.430 allows one (1) subdivision sign for this residential development with a maximum sign area of 32 sq. ft. which must be set back at least 10 feet from the right of way , or 5 feet from the curb if installed in a median. One development monument sign is proposed with this development in the median at the development entrance. Signage located within a right of way must be accompanied by a landscaping license agreement for maintenance. If portions of the sign will exceed 6 feet in height, a variance will be required. Landscaping and Tree Preservation. A tree preservation plan was submitted and reviewed by the City’s Landscape Architect. Per the City Landscape Architect’s Memo, the proposed plans generally comply with City requirements, but still require revisions to comply with City Standards prior to acceptance by the City. Wetlands. There are 6 wetlands on the development site. Of those, 5 will be preserved through the proposed development layout. There is one very small wetland (#6) comprising .02 acres which is proposed for de minimis removal. This has been approved by the Valley Branch Watershed District. Wetland buffer averaging is proposed around the remaining wetlands. Staff recommend that wetland buffer signage be located on the lots containing a wetland and a required wetland buffer. Parking and Driveways. Section 105.12.650 requires two interior spaces per dwelling unit, and two exterior spaces outside of the side yard setback for the principal structure. This is more restrictive than the standard in Section 105.12.410 and is therefore the requirement. The home sites appear to accommodate this standard. The homes will have two or more enclosed stalls with driveways that accommodate additional parking, likely exceeding 2 spaces per lot. Given the width of the right of way, parking will be limited to one side of the street. Section 9.16.090 details driveway requirements. Driveways must be at least 5 feet from property side yards and must be between 12 and 26 feet in width. Driveways are not shown on the project plans, and locations cannot be verified. As such, driveways must conform to all City standards including location, grade, and surface, when proposed. Access. The roadway proposed for this development is a public street, and extends the stub of Imperial Avenue North in the Lake Elmo Heights 3rd Addition to the south and west to Inwood Avenue North. A cul-de-sac on the south side of Imperial Avenue North, called Imperial Court, provides access to six of the proposed lots. Traffic. Inwood Avenue is a collector street and designed to carry large traffic volumes. Washington County has noted turn lanes will be required as part of this development. A Traffic Impact Report was prepared for the previously approved 65-lot preliminary plat. The Developer has not submitted a new Traffic Impact Report at this time although any impacts would be less than any anticipated for the previous plan. Parks. §103.00.150 Park Land Dedication Requirements. The City Code requires that the project provide a minimum of at least 5% of the land for parks, or a cash in lieu fee using the estimated fair market value of the property. The City’s Parks Commission reviewed the concept plan for this development on February 18, 2026, and provided a recommendation for cash in lieu given the close proximity to Lake Elmo Park Reserve. Stormwater. The Developer has supplied plans showing 3 new City Owned stormwater ponds and two filtration basins. The proposed ponds treat stormwater where water typically leaves the site, and utilizes existing drainageways. Pans and details on the stormwater system must meet the requirements of the City Engineer. Review Comments: Conditions of approval for addressing agency review memos has been added to the recommendations. The Applicant resubmitted a revised set of plans on May 13, 2026 to address the conditions of approval of the preliminary plat. Additional plans were submitted on June 17, 2026. The plans are currently under review. Fire Chief Review. The City’s Fire Chief provided a comment memo dated 3/24/2026 which includes comments on emergency access, signage, hydrants, addressing, and street naming. Comments have not changed on this project. Valley Branch Watershed District. The developer has received a permit conditionally approving the project from VBWD. Before any work can begin on site, the Developer will be required to confirm that changes to the plans since receipt of the VBWD permit do not necessitate changes to the watershed’s review or approval. Engineering Review. The City Engineer provided detailed comments on the final plat in a memo dated July 1, 2026. If approved, the development must fully address all City Engineering comments. Landscape Architect Memo. The City’s Landscape Architect provided a memo dated June 30, 2026, reviewing the tree preservation and landscape plans. The final landscaping plan shall be revised as required by the memo. PRELIMINARY PLAT CONDITIONS OF APPROVAL: Items in grey text below have been addressed, items in black will be addressed by the Applicant concurrent with, or following, final plat approval: 1. Prior to the City finding any application for a final plat complete, the applicant shall fully address all comments in the following review memos to the satisfaction of the City: a. City Engineer’s memo dated 3/24/2026 b. City Landscape Architect’s memo dated 3/31/2026 c. City Fire Chief’s memo dated 3/24/2026 2. Prior to the City finding any application for a final plat complete, the applicant shall fully address any changes to the plans that may be required by the approval or denial of any requested variances. 3. Prior to the City finding any application for final plat complete, the applicant shall demonstrate that the plans reflect compliance with Valley Branch Watershed (VBWD) review requirements and that the applicant provide the City evidence that all conditions attached to a VBWD permit will be met before the starting any grading activity on the site. 4. The applicant shall obtain all necessary permits including but not limited to all applicable City permits (building, grading, sign, etc.), Washington County ISTS permits, NPDES/SWPPP permits and Valley Branch Watershed District approval before starting any grading or construction activities. 5. Wetland buffer signage in the City’s standard form shall be placed on all lots with wetland buffer areas. 6. The applicant/developer is responsible for a cash in lieu fee to cover all trees not planted but required by the City’s Ordinance. 7. The applicant/developer is responsible, at their own expense, for installing all required right of way and pedestrian improvements. 8. Storm water ponds shall be placed on separate outlots and conveyed to the City through a warranty deed in a form acceptable to the City. 9. The applicant/developer shall provide the City a fee in lieu of park land dedication as required by Section 103.00.150 to be paid prior to recording of the final plat. 10. All easements as requested by the City Engineer and Public Works Department shall be documented on the Final Plat before the execution of the final plat by City Officials. 11. If necessary, the applicant shall provide the City with a copy of written permission for any off-site grading work and storm sewer discharges to adjacent properties before starting any site work, grading and as part of any final plat application. 12. If applicable, a storm water maintenance and easement agreement in a form acceptable to the City shall be executed and recorded with the final plat. 13. Before the execution and recording of a final plat for the development, the developer or applicant shall enter into a Developer’s Agreement or a Site Work Agreement with the City. Such an Agreement must be approved by the City Attorney and by the City Council. The Agreement shall delineate who is responsible for the design, construction and payment for the required improvements with financial guarantees therefore. 14. The applicant or developer shall enter into a separate grading agreement with the City before starting any grading activity in advance of final plat approval. The City Engineer shall review any grading plan that is submitted in advance of a final plat, and said plan shall document the extent of any proposed grading on the site. RECOMMENDED FINDINGS OF APPROVAL: The City Council will be required to make findings in support of a decision to approve or deny the Applicant’s request. The following findings could be made by the City to approve the development. Staff recommends approval of the Final Plat for PID 21.029.21.32.0001 based on the following findings: 1. That all the requirements of City Code Section 103.00.100 related to the Final Plans and Final Plat have been met by the Applicant. 2. That the Highpointe Crossing Final Plat consists of 18 attached single-family lots plus outlots intended for stormwater management. 3. That the Highpointe Crossing Final Plat is generally consistent with the Preliminary Plat as approved by the City of Lake Elmo on May 5, 2026. 4. That the Highpointe Crossing Final Plat is consistent with the intent of the 2040 Lake Elmo Comprehensive Plan and the 2040 Land Use Map for this area. 5. That the Highpointe Crossing Final Plat complies with the general intent of the Residential Estate (RE) zoning district with the approved variances. 6. That the Highpointe Crossing Final Plat generally complies with the Lake Elmo Design Guidelines and Standards Manual. 7. That the Highpointe Crossing Final Plat generally complies with the City’s Subdivision regulations. 8. That the Highpointe Crossing Final Plat generally complies with the City’s Zoning Code with the exceptions provided for in the approved variances. 9. That the Highpointe Crossing Final Plat is generally consistent with the City’s engineering standards with the exceptions noted by the City Engineer in their review comments to the City dated March 24, 2026, and as otherwise identified in future reviews. RECOMMENDED CONDITIONS OF APPROVAL Staff recommends the City Council approve of the Preliminary Plat request with the following conditions: 1. Prior to the City Council signing or approving recording the final plat, the applicant shall fully address all comments in the following review memos, or any subsequent review memos, to the satisfaction of the City: a. City Engineer’s memo dated 7/1/2026 b. City Landscape Architect’s memo dated 6/30/2026 c. City Fire Chief’s memo dated 3/24/2026 2. Prior to the City Council signing or approving recording the final plat, the applicant shall demonstrate that the plans reflect compliance with Valley Branch Watershed (VBWD) review requirements and that the applicant provide the City evidence that all conditions attached to a VBWD permit will be met before the starting any grading activity on the site. 3. The applicant shall provide the power line corridor easement encroachment agreement to the City for review and approval of the terms of said agreement. 4. The applicant shall obtain all necessary permits including but not limited to all applicable City permits (building, grading, sign, etc.), Washington County ISTS permits, NPDES/SWPPP permits and Valley Branch Watershed District approval before starting any grading or construction activities. 5. Wetland buffer signage in the City’s standard form shall be placed on all lots with wetland buffer areas. 6. The applicant/developer is responsible, at their own expense, for installing all required right of way and pedestrian improvements. 7. Storm water ponds shall be placed on separate outlots and conveyed to the City through a warranty deed in a form acceptable to the City. 8. The applicant/developer shall provide the City a fee in lieu of park land dedication as required by Section 103.00.150 to be paid prior to recording of the final plat. 9. All easements as requested by the City Engineer and Public Works Department shall be documented on the Final Plat before the execution of the final plat by City Officials. 10. If necessary, the applicant shall provide the City with a copy of written permission for any off-site grading work and storm sewer discharges to adjacent properties before starting any site work, grading and as part of any final plat application. 11. If applicable, a storm water maintenance and easement agreement in a form acceptable to the City shall be executed and recorded with the final plat. 12. Before the execution and recording of a final plat for the development, the developer or applicant shall enter into a Developer’s Agreement. Such an Agreement must be approved by the City Attorney and by the City Council. The Agreement shall delineate who is responsible for the design, construction and payment for the required improvements with financial guarantees therefore. 13. The applicant or developer shall enter into a separate grading agreement with the City before starting any grading activity in advance of final plat approval. The City Engineer shall review any grading plan that is submitted in advance of a final plat, and said plan shall document the extent of any proposed grading on the site. 14. That the Applicant must record the final plat within 180 days after City Council approval or the final plat shall be considered void unless a request for a time extension is submitted in writing and approved by the City Council. FISCAL IMPACT: Prior to recording the Final Plat, the Applicant will pay the City fees for utility connections and Parkland Dedication. Building Permit fees will be collected at the time of permit issuance. The City is not providing financial assistance as part of this project. OPTIONS: The City Council may: • Approve the requests. • Approve the requests with conditions. • Deny the requests, citing findings of fact. RECOMMENDATION: Should the City Council agree with staff’s recommendations and findings, it should conditionally approve the proposed Final Plat for the subject property with the recommended findings and conditions of approval listed in the staff report. EXAMPLE MOTION: “Move to adopt Resolution 2026-48 approving the final plat for Highpoint Crossing, as requested by Rachel Development for the subject property based on the findings and conditions listed therein.” ATTACHMENTS: 1. Resolution 2026-048 Approving Final Plat 2. Final Plat and Project Plans 3. City Engineer Memo 4. Fire Chief Memo 5. Landscape Architect Memo CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION NO. 2026-048 RESOLUTION APPROVING THE FINAL PLAT REQUEST FOR HIGHPOINTE CROSSING WHEREAS, the City of Lake Elmo is a municipal corporation organized and existing under the laws of the State of Minnesota; and WHEREAS, the City of Lake Elmo has established a Comprehensive Plan that includes background data, policy statements, standards, and maps that help to guide the future physical, social, and economic development of the City; and WHEREAS, Rachel Development, Inc., (the “Applicant) has requested a Final Plat for Highpointe Crossing, on property legally described on Exhibit A attached hereto (the “Property”) WHEREAS, the application for Highpointe Crossing Final Plat was submitted to the City on May 13, 2026, along with subsequent revisions; and WHEREAS, the application for Highpointe Crossing Final Plat was not found by the city to be complete until June 11, 2026; and WHEREAS, the Lake Elmo City Council reviewed the Highpointe Crossing Final Plat request at its meeting held on July 7, 2026 and voted to approve the item with the following findings of fact: 1. That all the requirements of City Code Section 103.00.100 related to the Final Plans and Final Plat have been met by the Applicant. 2. That the Highpointe Crossing Final Plat consists of 18 attached single-family lots plus outlots intended for stormwater management. 3. That the Highpointe Crossing Final Plat is generally consistent with the Preliminary Plat as approved by the City of Lake Elmo on May 5, 2026. 4. That the Highpointe Crossing Final Plat is consistent with the intent of the 2040 Lake Elmo Comprehensive Plan and the 2040 Land Use Map for this area. 5. That the Highpointe Crossing Final Plat complies with the general intent of the Residential Estate (RE) zoning district with the approved variances. 6. That the Highpointe Crossing Final Plat generally complies with the Lake Elmo Design Guidelines and Standards Manual. 7. That the Highpointe Crossing Final Plat generally complies with the City’s Subdivision regulations. 8. That the Highpointe Crossing Final Plat generally complies with the City’s Zoning Code with the exceptions provided for in the approved variances. 9. That the Highpointe Crossing Final Plat is generally consistent with the City’s engineering standards with the exceptions noted by the City Engineer in their review comments to the City dated March 24, 2026, and as otherwise identified in future reviews. NOW, THEREFORE, BE IT RESOLVED THAT the City Council does hereby approve Highpoint Crossing Final Plat subject to the following conditions: 1. Prior to the City Council signing or approving recording the final plat, the applicant shall fully address all comments in the following review memos, or any subsequent review memos, to the satisfaction of the City: a. City Engineer’s memo dated 7/1/2026 b. City Landscape Architect’s memo dated 6/30/2026 c. City Fire Chief’s memo dated 3/24/2026 2. Prior to the City Council signing or approving recording the final plat, the applicant shall demonstrate that the plans reflect compliance with Valley Branch Watershed (VBWD) review requirements and that the applicant provide the City evidence that all conditions attached to a VBWD permit will be met before the starting any grading activity on the site. 3. The applicant shall provide the power line corridor easement encroachment agreement to the City for review and approval of the terms of said agreement. 4. The applicant shall obtain all necessary permits including but not limited to all applicable City permits (building, grading, sign, etc.), Washington County ISTS permits, NPDES/SWPPP permits and Valley Branch Watershed District approval before starting any grading or construction activities. 5. Wetland buffer signage in the City’s standard form shall be placed on all lots with wetland buffer areas. 6. The applicant/developer is responsible, at their own expense, for installing all required right of way and pedestrian improvements. 7. Storm water ponds shall be placed on separate outlots and conveyed to the City through a warranty deed in a form acceptable to the City. 8. The applicant/developer shall provide the City a fee in lieu of park land dedication as required by Section 103.00.150 to be paid prior to recording of the final plat. 9. All easements as requested by the City Engineer and Public Works Department shall be documented on the Final Plat before the execution of the final plat by City Officials. 10. If necessary, the applicant shall provide the City with a copy of written permission for any off-site grading work and storm sewer discharges to adjacent properties before starting any site work, grading and as part of any final plat application. 11. If applicable, a storm water maintenance and easement agreement in a form acceptable to the City shall be executed and recorded with the final plat. 12. Before the execution and recording of a final plat for the development, the developer or applicant shall enter into a Developer’s Agreement. Such an Agreement must be approved by the City Attorney and by the City Council. The Agreement shall delineate who is responsible for the design, construction and payment for the required improvements with financial guarantees therefore. 13. The applicant or developer shall enter into a separate grading agreement with the City before starting any grading activity in advance of final plat approval. The City Engineer shall review any grading plan that is submitted in advance of a final plat, and said plan shall document the extent of any proposed grading on the site. 14. That the Applicant must record the final plat within 180 days after City Council approval or the final plat shall be considered void unless a request for a time extension is submitted in writing and approved by the City Council. Passed and duly adopted this 7th day of July 2026 by the Lake Elmo Minnesota City Council. ____________________________________ Charles Cadenhead, Mayor ATTEST: ____________________________________ Julie Johnson, City Clerk Resolution 2026-048 Exhibit A Legal Description of Subject Property The North 1 /2 of the SW 1/4 of Section 21, Township 29, Range 21, Washington County, Minnesota; Except: All that part of the North 75.00 feet of the East 150.00 feet of the North 1/2 of the SW 1/4 of Section 21, Township 29 North, Range 21 West, Washington County, Minnesota, which lies westerly of the west line of Parcel 3 of the Washinton County Highway Right of Way Plat No. 98 - C.S.A.H. l3, according to the recorded plat thereof. SITESHEET 1 OF 5 SHEETSHIGHPOINTE CROSSINGSRRGNNE ENIG EDESIENN SATHRE-BERGQUIST, INC.SUSSYRS OER EVRPLAKNOW ALL PERSONS BY THESE PRESENTS: That Rachel Development, Inc., a Minnesota corporation, owner of the following described property situated in the County ofWashington, State of Minnesota, to wit:The North Half of the Southwest Quarter of Section 21, Township 29, Range 21, Washington County, Minnesota.ExceptAll that part of the North 75.00 feet of the East 150.00 feet of the North Half of the Southwest Quarter of Section 21, Township 29 North, Range 21 West, Washington County, Minnesota,which lies westerly of the west line of Parcel 3 of the Washington County Highway Right of Way Plat No. 98 - C.S.A.H. 13, according to the recorded plat thereof.Has caused the same to be surveyed and platted as HIGHPOINTE CROSSING and does hereby dedicate to the public for public use the public ways and the drainage and utility easementsas created by this plat.In witness whereof said Rachel Development, Inc., a Minnesota corporation, has caused these presents to be signed by its proper officerthis day of , 20____.Signed: Rachel Development, Inc.Donald Rachel, Chief Executive OfficerSTATE OF MINNESOTA, COUNTY OF This instrument was acknowledged before me this day of , 20_____, by Donald Rachel, Chief Executive Officer of Rachel Development,Inc., a Minnesota corporation, on behalf of the corporation.My Commission Expires:Notary Public,, Minnesota (Signature) (Notary Printed Name)SURVEYORS CERTIFICATION I Colyn M. Tvete do hereby certify that this plat was prepared by me or under my direct supervision; that I am a duly Licensed Land Surveyor in the State of Minnesota; that this plat is acorrect representation of the boundary survey; that all mathematical data and labels are correctly designated on this plat; that all monuments depicted on this plat have been set, or will becorrectly set within one year; that all water boundaries and wet lands, as defined in Minnesota Statutes, Section 505.01, Subd. 3, as of the date of this certificate are shown and labeled onthis plat; and all public ways are shown and labeled on this plat.Dated this day of , 20_____.Colyn M. Tvete, Licensed Land Surveyor,Minnesota Licence No. 62269STATE OF MINNESOTA, COUNTY OF HENNEPINThis instrument was acknowledged before me on this day of , 20_____, by Colyn M. Tvete.My Commission Expires:Notary Public, Hennepin County, MinnesotaPrinted NameLAKE ELMO, MINNESOTAThis plat was approved by the City Council of the City of Lake Elmo, Minnesota, this day of , 20_____, and hereby certifies compliancewith all requirements as set forth in Minnesota Statutes, Section 505.03, Subd. 2.By: By: Mayor ClerkCOUNTY SURVEYORPursuant to Chapter 820, Laws of Minnesota, 1971, and in accordance with Minnesota Statutes, Section 505.021, Subd. 11, this plat has been reviewed and approvedthis day of , 20_____.By: By: Washington County SurveyorCOUNTY AUDITOR/TREASURERPursuant to Minnesota Statutes, Section 505.021, Subd. 9, and Section 272.12, taxes payable in the year 20 , on the real estate hereinbefore described, have been paid; and there are nodelinquent taxes, and transfer has been entered on this day of , 20_____.By: By: Washington County Auditor/Treasurer DeputyCOUNTY RECORDERDocument Number ______________________I hereby certify that this instrument was recorded in the Office of the County Recorder for record on this day of , 20_____,at o'clock . M. and was duly recorded in Washington County Records.By: By: Washington County Recorder DeputyVICINITY MAPSECTION 21, TOWNSHIP 29N, RANGE 21W(NOT TO SCALE)NORTH Overall Boundary8OUTLOT AINSET C(SEE SHEET 5 OF 5 SHEETS)INSET B(SEE SHEET 4 OF 5 SHEETS)INSET A(SEE SHEET 3 OF 5 SHEETS)Δ ΔΔΔ OUTLOT COUTLOT AΔ11(C.S.A.H. NO. 13)INWOOD AVE. N.0SCALE IN FEET1005050100200SHEET 2 OF 5 SHEETSSRRGNNE ENIG EDESIENN SATHRE-BERGQUIST, INC.SUSSYRS OER EVRPLANORTHHIGHPOINTE CROSSINGThe basis for the bearing system is the eastline of the North 1/2 of the SW 1/4 of Section 21,Township 29, Range 21,which is assumed to bearSouth 00 degrees 00 minutes 35 seconds East.Denotes found Washington County cast iron monumentDenotes a 1/2 inch pipe found and marked by LicenseNo. 47481.Denotes a 1/2 inch by 14 inch iron pipe set and markedby License No. 62269 in accordance with MinnesotaState Statute 505.021, Subd. 10.Denotes a PK-Nail and disc set and marked by LicenseNo. 62269 in accordance with Minnesota State Statute505.021, Subd. 10. 89107OUTLOT B OUTLOT C OUT LO T B Δ ΔΔΔΔ ΔΔ Δ 61Δ11ΔΔΔΔΔΔΔΔΔΔΔ Δ ΔΔ 23Δ ΔΔΔ I MP E RI ALAVE N U E N O R T H IMPERIALCIRCLENORTH2ΔΔΔΔΔΔΔIMPERIAL AVE N13OUTLOT C0SCALE IN FEET60303060120SHEET 3 OF 5 SHEETSSRRGNNE ENIG EDESIENN SATHRE-BERGQUIST, INC.SUSSYRS OER EVRPLANO R T HNOT TO SCALE10 1010Being 10 feet in width and adjoining side lot lines and being 10 feet inwidth and adjoining public ways, unless otherwise indicated on this plat.10 DRAINAGE AND UTILITY EASEMENTS ARE SHOWN THUS:HIGHPOINTE CROSSINGDenotes found Washington County cast iron monumentDenotes a 1/2 inch by 14 inch iron pipe set and markedby License No. 62269 in accordance with MinnesotaState Statute 505.021, Subd. 10.The basis for the bearing system is the eastline of the North 1/2 of the SW 1/4 of Section 21,Township 29, Range 21,which is assumed to bearSouth 00 degrees 00 minutes 35 seconds East.(SEE SHEET 2 OF 5 SEETS)DETAILNO R T H0SCALE IN FEET2010102040DETAILINSET A(FROM SHEET 2 OF 5 SHEETS) 5Δ234IMPERIALA V E N U EN O R T HΔΔΔΔΔΔΔ Δ 3234SHEET 4 OF 5 SHEETSSRRGNNE ENIG EDESIENN SATHRE-BERGQUIST, INC.SUSSYRS OER EVRPLAHIGHPOINTE CROSSING0SCALE IN FEET60303060120NO R T HNOT TO SCALE10 1010Being 10 feet in width and adjoining side lot lines and being 10 feet inwidth and adjoining public ways, unless otherwise indicated on this plat.10 DRAINAGE AND UTILITY EASEMENTS ARE SHOWN THUS:Denotes a 1/2 inch by 14 inch iron pipe set and markedby License No. 62269 in accordance with MinnesotaState Statute 505.021, Subd. 10.The basis for the bearing system is the eastline of the North 1/2 of the SW 1/4 of Section 21,Township 29, Range 21,which is assumed to bearSouth 00 degrees 00 minutes 35 seconds East.(SEE SHEET 2 OF 5 SEETS)INSET B(FROM SHEET 2 OF 5 SHEETS) OUTLOT D 1ΔΔ Δ65ΔΔΔ ΔΔΔΔ23 OUTLOT D I M P E R I A L INWOOD AVE NA V E N UEN O R T H2Δ Δ Δ (C.S.A.H NO. 13)0SCALE IN FEET60303060120SHEET 5 OF 5 SHEETSSRRGNNE ENIG EDESIENN SATHRE-BERGQUIST, INC.SUSSYRS OER EVRPLANO R T H HIGHPOINTE CROSSINGThe basis for the bearing system is the eastline of the North 1/2 of the SW 1/4 of Section 21,Township 29, Range 21,which is assumed to bearSouth 00 degrees 00 minutes 35 seconds East.NOT TO SCALE10 1010Being 10 feet in width and adjoining side lot lines and being 10 feet inwidth and adjoining public ways, unless otherwise indicated on this plat.10 DRAINAGE AND UTILITY EASEMENTS ARE SHOWN THUS:Denotes a 1/2 inch pipe found and marked by LicenseNo. 47481.Denotes a 1/2 inch by 14 inch iron pipe set and markedby License No. 62269 in accordance with MinnesotaState Statute 505.021, Subd. 10.Denotes a PK-Nail and disc set and marked by LicenseNo. 62269 in accordance with Minnesota State Statute505.021, Subd. 10.INSET C(FROM SHEET 2 OF 5 SHEETS) MEMORANDUM Date: July 1, 2026 To: Sophia Jensen, Senior Planner Re: Highpointe Crossing Nathan Fuesrt, Planning Consultant Final Plat-Construction Plans Jason Stopa, Community Development Director Pete Tholen, Public Works Director Nate Stanley, City Engineer Chad Isakson, Assistant City Engineer From: Jack Griffin, Sr. Project Manager An engineering review has been completed for the Highpointe Crossing Addition Final Plat/Plans received on June 22, 2026. The review consisted of the following documentation: · Highpointe Crossing Final Plat, not dated (PDF file dated June 9, 2026). · Highpointe Crossing Construction Plans dated June 18, 2026. · Highpointe Crossing Project Manual-Specifications dated June 11, 2026. · Highpointe Crossing Stormwater Management Plan dated April 10, 2026. · Highpointe Crossing Landscape Plans dated May 19, 2026. STATUS/FINDINGS: Engineering review comments have been provided in two separate memos; one for Final Plat approval and one to assist with the completion of the Final Construction Plans. Please see the following review comments relating to the Final Plat application. FINAL PLAT AND EASEMENTS 1. The Final Plat shall not be recorded until the City Engineer approves the Final Construction Plans. 2. All easements as required by the City Engineer and Public Works Director shall be documented on the Final Plat prior to the release of the Final Plat for recording. Revisions to the Final Plat may be necessary as the Construction Plans are reviewed and finalized. 3. All easement areas must be free from all encroachments other than those approved by the City Engineer and upon execution of an easement encroachment agreement. Prohibited encroachments include, but are not limited to trees, landscaping, fences, retaining walls, graded slopes, and building structures. 4. Small/dry utility corridors along all public right-of-way must be reserved for the installation of small/dry utilities. It will be the responsibility of the developer to ensure that the utilities are installed within the dedicated corridors and locations. Installations by private utility companies outside of the dedicated areas will be subject to relocation at the developers’ cost. 5. Right-of-way dedication. Final Plat approval must be contingent upon the dedication of right-of- way along Inwood Avenue (CSAH 13) as required by Washington County and consistent with the Page: 2 approved Preliminary Plat, including a minimum of 75-feet from the existing roadway centerline. Right-of-way dedication has been addressed on the Final Plat as required. 6. Access Management. Site access is shown from a new residential street (Imperial Avenue) extending west into the subdivision from Inwood Avenue (CSAH 13). The Access location is subject to final approval by Washington County. 7. Intersection Improvements. The applicant will be responsible for constructing all intersection and turn lane improvements at the new access location of Imperial Avenue and Inwood Avenue (CSAH 13). Turn lanes must be designed and constructed as part of the subdivision improvements and as required by Washington County. Turn Lane improvements have been shown on the Final Construction Plans and will be subject to revisions per County approvals. 8. Secondary access is shown as required with a connection to Imperial Avenue in the existing Lake Elmo Heights residential neighborhood. 9. Outlots are shown on the Final Plat as required and consistent with the approved Preliminary Plat.  Outlot A will be dedicated to the City for stormwater management (Pond 2 and Pond 3).  Outlot B will be dedicated to the City for stormwater management (Filtration Basin 1SW).  Outlot C will be dedicated to the City for stormwater management (Pond 5).  Outlot D will be dedicated to the City for stormwater management (Filtration Basin 1E). 10. The public streets are proposed as a rural section at 28-ft wide within a 70-ft right-of-way. The public streets within this subdivision must be constructed consistent with City Standard Detail 804 and City Standard Detail 413. 11. The proposed subdivision improvements are subject to a Stormwater Management Plan (SWMP) meeting State, Valley Branch Watershed District (VBWD) and City rules. A VBWD permit has been obtained. Storm water facilities proposed as part of the subdivision to meet State and watershed permitting requirements must be constructed in accordance with the City Engineering Design Standards. 12. All wetlands and wetland buffers located on Rural Estate Residential Lots must be protected by easement. When wetlands are present on private lots, each lot must have a minimum of 1.25 acres of land above the wetland 100-year HWL elevation and free of any drainage easements. 13. The subdivision will be connected to municipal water, including a connection to the existing watermain along Inwood Avenue and a second connection located at the existing watermain at Imperial Avenue. A pressure reducing valve will be required at the connection location to Imperial Avenue. All water system improvements must be constructed in accordance with the City Engineering Design Standards, and as approved by the City. 14. The proposed development is located outside of the City designated Municipal Urban Service Area (MUSA) for sanitary sewer service. The subdivision will be served by individual on-site septic systems to be privately owned by each Lot (SSTS). Individual on-site septic systems are permitted by Washington County and must contain both a primary and secondary site located on each Lot. 15. Minimum 30-foot easements centered over the watermain pipe/hydrant and storm sewer pipe/structures is required throughout the subdivision, consistent with the approved Preliminary Plat and Plans. Easements must be free from all encroachments, including retaining walls, trees, fences, small/dry utilities, or storm water management BMPs. Dedicated easements must be shown on all site, grading, utility, and landscape plans. Plan revisions may be required to meet City design standards and to mitigate all encroachments. FINAL CONSTRUCTION PLANS & SPECIFICATIONS 1. Final Construction Plans and Specifications must be prepared in accordance with the latest version of the City Engineering Design Standards Manual dated January 2026, using City standard details, plan notes and specifications and meeting City Engineering Design Guidelines, unless otherwise approved by the City. Page: 3 2. The Final Construction Plans dated June 18, 2026 and Project Manual/Specifications dated June 11, 2026 must be revised in accordance with the construction plan engineering review memorandum dated July 1, 2026. 3. No construction on the Project, other than mass grading work as authorized by the City under separate review, approval and Agreement, may begin until the applicant has received City Engineer approval for the Final Construction Plans; the applicant has obtained and submitted to the City all applicable permits, easements and permissions needed for the project; and a preconstruction meeting has been held by the City’s engineering department. LAKE ELMO FIRE DEPARTMENT – OFFICE OF THE FIRE MARSHAL Fire Prevention, Code Enforcement, and Public Education March 24, 2026 Sophia Jensen, Planner City of Lake Elmo Re: Highpointe Crossing Prepared by: Anthony Svoboda, Fire Marshal Applicable Codes: • 2020 Minnesota State Fire Code • 2020 Minnesota State Building Code • Lake Elmo Fire Department Fire Code Policies • NFPA 13, 2016 edition • NFPA 13D, 2016 edition Fire Department Comments: 1) All roads and drive lanes shall meet the Lake Elmo Fire Department requirements for widths and turning radiuses. 2) Approved fire apparatus roads shall be provided and maintained in coordination with engineering, public works, planning, and fire departments. In accordance with MSFC D104.2, two fire apparatus access roads shall be required and always maintained. 3) Project construction phasing shall always accommodate emergency access to the entire construction zone, generally meaning two separate means of entrance/exit as defined in the code. Phasing plan to be approved by the fire department prior to construction. 4) An approved signage and marking plan shall be determined for all No Parking and Fire Lane access roads. On- street parking shall be provided in approved locations following review by Engineering and Public Works. Parking shall be prohibited on both sides of private driving lanes. 5) Street names and addressing shall be consistent with the Washington County Uniform Street Naming and Property Numbering System. 6) Fire hydrants and watermains shall be provided in approved locations following review by Engineering and Public Works. 7) Building address numbers shall be plainly visible from the street fronting the property and shall be contrasting color from the background. Size and placement of address numbers shall be approved by the fire and planning departments. LAKE ELMO FIRE DEPARTMENT – OFFICE OF THE FIRE MARSHAL Fire Prevention, Code Enforcement, and Public Education “Proudly Serving Neighbors and Friends” 8) All gates, whether manual or electric, shall be accompanied by either a KNOX lock or KNOX gate control switch for rapid access. 9) All parking areas shall be capable of supporting the imposed load of fire apparatus weighing up to 75,000 pounds. Questions, clarifications, or the request to provide code documents can be made using the contact information listed below. Respectfully, Memorandum 800 Washington Avenue North, Suite 207 Minneapolis, MN 55401 June 30, 2026 TO : SOPHIA JENSEN FROM: SARAH EVENSON, PLA RE: CITY OF LAKE ELMO LANDSCAPE AND TREE PRESERVATION PLAN REVIEW: HIGHPOINTE CROSSING SUBMITTALS 1. Rachel Development Sketch Plan dated 9/21/23 and Landscape Theming Concept dated 9/18/23. Both received 9/25/23. 2. Preliminary Plat/PUD Submittal dated 6/7/2024. 3. Preliminary Plat Submittal dated 2/26/2026. 4. Revised Submittal addressing City and Watershed Comments dated 4/8/2026 5. Final Plat Submittal dated 6/11/2026. REVIEW HISTORY Initial sketch plan review on September 29, 2023. Preliminary Plat / PUD review on June 26, 2024. Preliminary Plat review on March 31, 2026. Review of revised landscape plan on 4/24/2026. Review of Final Plat submittal on 6/30/2026. LOCATION: PID# 2102921320001 The North ½ of the SW ¼, Section 21, Township 29, Range 21, Washington County Except all that part of the North 75.00 feet of the East 150.00 feet of the North ½ of the SW ¼ of Section 21, Township 29 North, Range 21 West, Washington County, MN. Address: 2298 Inwood Ave. N., Lake Elmo MN 55042 CURRENT LAND USE CATEGORY: Rural Residential (RR). Proposed zoning: Residential Estate (RE) ADJACENT AND SURROUNDING LAND USE: RE- Residential Estate to the North and South, PF—Public Facilities to the East, City of Oakdale R4—Middle Density to the West (south) and R2-Low Density to the West (north). SPECIAL LANDSCAPE PROVISIONS: Proposed variance for flexibility to total landscaping requirements recommended by Planning Commission, pending City Council approval at 5/5 meeting. June 30, 2026 Highpointe Crossing Memorandum 2 TREE PRESERVATION PLAN: 105. 12. 470 » The tree preservation plan meets code and may be approved. LANDSCAPE PLAN: 105.12.480 » A variance for flexibility in meeting landscape requirements was approved by City Council at their 5/5/26 meeting. The proposed 119 trees plus three builder-planted trees per lot are acceptable. » Landscape plans have been submitted that require the following adjustments prior to approval: - Provide a plan sheet that illustrates seeding, sodding, and ground cover materials across all disturbed portions of the site. I could not locate a sheet showing ground cover restoration within this submittal. RECOMMENDATION: The landscape plan does not yet meet criteria for approval. Prepare and resubmit landscape plans as outlined in this memo for future review. Sarah Evenson, PLA (MN) City of Lake Elmo Municipal Landscape Architect P: (262) 391-7653 E: Sarah@hkgi.com STAFF REPORT DATE: July 7, 2026 REGULAR TO: Mayor and Councilmembers FROM: Nathan Fuerst, Consulting Planner REVIEWED BY: Jason Stopa, Community Development Director Sarah Sonsalla, City Attorney Jack Griffin, Sr. Municipal Engineering Manager AGENDA ITEM: Highpointe Crossing Development Agreement CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☒ Responsive, transparent, adaptive governance ☒ Managed Growth ☐ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: On July 7, 2026, the Lake Elmo City Council approved the final plat for Highpointe Crossing. An executed developer’s agreement is a condition of final plat approval and is required prior to recording the final plat with Washington County. ISSUE BEFORE COUNCIL: Should the City Council approve the Development Agreement for Highpointe Crossing? PROPOSAL DETAILS/ANALYSIS: A condition of approval of the Highpointe Crossing final plat is that the developer, Rachel Development, enter into a Developer’s Agreement prior to release of the final plat for recording at Washington County. The key aspects of the agreement include the following components: • That all public improvements to be completed by October 31, 2027. • That the Developer provide a letter of credit in the amount to be determined once all construction costs are reviewed related to the cost of the proposed improvements. • Parkland Dedication and other City fees and escrows be paid to the City prior to work beginning on site. • That the Developer deed stormwater pond outlots to the City for maintenance. Upon execution of this Agreement, receipt of all fees and securities, receipt of final plan approval, submittal of other required information of documentation, recording of the final plat, and completion of a Preconstruction meeting with the City, construction can commence. FISCAL IMPACT: The future financial impacts include maintenance of public infrastructure and other public financial responsibilities typically associated with a new development. The City will collect any necessary building permit fees including utility connection charges at the time of building permit application for the individual lots. OPTIONS: The City Council is being asked to consider the approval of the developer’s agreement and has the following options: 1. Adopt Resolution 2026-049 approving the developer agreement for Highpointe Crossing; or 2. Direct Staff to amend the draft developer agreement to bring back to a future City Council meeting. RECOMMENDATION: Staff recommends the City Council approve this item adopting Resolution 2026-049 with the following example motion: “Move to adopt Resolution 2026-049 approving the developer’s agreement for Highpointe Crossing” ATTACHMENTS: • Resolution 2026-049 • Highpointe Crossing Development Agreement 1 LA515-119-856339.v1 CITY OF LAKE ELMO WASHINGTON COUNTY STATE OF MINNESOTA RESOLUTION NO. 2026-049 A RESOLUTION APPROVING THE DEVELOPMENT AGREEMENT FOR HIGHPOINTE CROSSING WHEREAS, the City of Lake Elmo (the “City”) is a municipal corporation organized and existing under the laws of the State of Minnesota; and WHEREAS, Rachel Development, Inc., a Minnesota corporation (the “Applicant”) submitted an application to the City for the Highpointe Crossing final plat; and WHEREAS, the Lake Elmo City Council adopted Resolution No. 2026-048 on July 7, 2026 approving the final plat for Highpointe Crossing (the “Resolution”); and WHEREAS, the conditions of approval of the final plat in the Resolution included a requirement that the Applicant enter into a development agreement acceptable to the City Attorney and approved by the City Council that delineates who is responsible for the design, construction, and payment of the required improvements with financial guarantees therefore; and NOW, THEREFORE, the City Council of the City of Lake Elmo hereby: 1. Approves the Development Agreement for Highpointe Crossing and authorizes the Mayor and City Clerk to execute it. The City Attorney is authorized to insert or modify improvement costs and Exhibits of the Development Agreement as needed. Passed and duly adopted this 7th day of July, 2026 by the City Council of the City of Lake Elmo, Minnesota. __________________________________ Charles Cadenhead, Mayor ATTEST: ________________________________ Julie Johnson, City Clerk 1 LA515\144\1104319.v2 (reserved for recording information) DEVELOPMENT AGREEMENT (Public water) Highpointe Crossing THIS DEVELOPMENT AGREEMENT is dated ______________, 2____, by and between the CITY OF LAKE ELMO, a Minnesota municipal corporation (the “City”) and Rachel Development, Inc., a Minnesota corporation (the “Developer”). 1. REQUEST FOR PLAT APPROVAL. The Developer has asked the City to approve a plat for Highpointe Crossing (referred to in this Agreement as the “Subdivision”). The property being platted is situated in the County of Washington, State of Minnesota, and is legally described on Exhibit A (the “Property”). 2. CONDITIONS OF PLAT APPROVAL. The City hereby approves the Subdivision on condition that the Developer enter into this Agreement, furnish the security required by it, and record the plat with the County Recorder or Registrar of Titles no later than 180 days after the City Council approves the plat. 3. RIGHT TO PROCEED. This Agreement is intended to regulate the development of the Property and the construction therein of certain public and private improvements. Unless separate written approval has been granted by the City, within the plat or land to be platted, the 2 LA515\144\1104319.v2 Developer may not grade or otherwise disturb the earth, remove trees, or construct public or private improvements or any buildings within the Subdivision until all the following conditions precedent have been satisfied: A. this Agreement has been executed by the Developer and the City; B. the Developer has prepared warranty deeds conveying fee title of Outlots A, B, C, and D to the City and provided copies of the executed deeds to the City for recording with Washington County; C. All public trails shall be located within outlots that are at least 30 feet in width and deeded to the City by warranty deed; D. the Developer has executed and recorded with Washington County all drainage and utility easements required for the Subdivision by the City Engineer and Public Works Director in the City’s standard form or the easements have been dedicated to the City on the plat; E. final plat, PUD, construction plans and specifications, and final landscape plans have been revised to comply with any conditions of approval and submitted by the Developer and approved by the City; F. the PUD ordinance has been adopted and published prior to recording the final plat; G. All issues set forth in the City Attorney’s plat opinion letter dated June 18, 2026 must be addressed to the satisfaction of the City; H. all homeowners’ association declarations, covenants, and restrictions have been submitted for review and approval by the City Attorney. Said declarations, covenants, and restrictions shall be in compliance with the conditions set forth in City Council Resolution No. 2026-048. Where there are inconsistencies between this Development Agreement and City Council Resolution No. 2026-048, the terms and conditions of this Development Agreement shall control; and 3 LA515\144\1104319.v2 I. the required Security (as hereinafter defined) has been received by the City from or on behalf of the Developer; J. the Developer has paid the City for all legal, engineering, and administrative expenses incurred by the City regarding the City approvals and has given the City the additional City Engineering Administration Escrow required by this Agreement; K. The Developer has entered into a Landscape License Agreement with the City in the City’s standard form that clarifies the individuals or entities responsible for maintenance of any landscaping installed in areas outside of land dedicated as public park and open space on the final plat. Final construction plans and specifications and final landscape plans must have been submitted by the Developer and approved by the City Engineer, Fire Chief, and the City’s Landscape Architect; L. If applicable, the Developer shall provide the City with a copy of all temporary construction and permanent easements from adjacent or nearby properties, necessary to construct the Subdivision Improvements, including all off-site public improvements, off- site grading work, or storm sewer discharges; M. a title insurance policy has been issued in the amount of $100,000 in favor of the City insuring Outlots A, B, C and D, and the City’s easement interests as they appear on the plat; N. the Developer has provided the City with a certificate of insurance required by this Agreement; O. the Developer has paid any outstanding assessments and taxes for the Subdivision property; P. the Developer has escrowed money with the City in amount sufficient to pay the estimated property taxes attributable to Outlots A, B, C, and D for 2026 if the City does not take ownership of the outlots before July 1, 2026. 4 LA515\144\1104319.v2 Q. the Developer has fulfilled any park dedication requirements as specified under this Agreement; R. the Developer has received all necessary permits from the MPCA, MDH, DNR, MnDOT, the applicable watershed, Washington County, and any other agency having jurisdiction over the Subdivision; S. the Developer has entered into an easement encroachment agreement regarding the power line corridor and the City has reviewed and approved the terms of the agreement; T. the Developer has installed tree protection fencing or additional measures per approved Tree Preservation Plan and the City has inspected and approved the protections; U. the Developer or the Developer’s engineer and the Developer’s contractor(s) have initiated and attended a preconstruction meeting with the City Engineer and City staff; V. the final plat has been recorded with Washington County; and W. the City has issued a written notice that all above conditions have been satisfied and that the Developer may proceed. 4. PRELIMINARY PLAT STATUS. If the Subdivision is a phase of a multi-phased preliminary plat, the preliminary plat approval for all phases not final platted shall lapse and be void unless final platted into lots and blocks, not outlots, within five (5) years after preliminary plat approval. 5. CHANGES IN OFFICIAL CONTROLS. For five (5) years from the date of this Agreement, no amendments to the City's Comprehensive Plan or official controls shall apply to or affect the use, development density, lot size, lot layout, or dedications of the approved final plat unless required by state or federal law or agreed to in writing by the City and the Developer. Thereafter, notwithstanding anything in this Agreement to the contrary, to the full extent permitted by state law, the City may require compliance with any changes to the City's Comprehensive Plan, official controls, platting, or dedication requirements enacted after the date of this Agreement. 5 LA515\144\1104319.v2 6. DEVELOPMENT PLANS. The Developer agrees to develop the Property in accordance with the City approvals, including the terms and conditions of approval of the final plat as detailed in City Council Resolution No. 2026-048, and to construct all improvements in accordance with the approved construction plans and specifications (collectively, the “Plans”) prepared by a professional engineer registered in the State of Minnesota at its sole expense. All terms and conditions of the City approvals are hereby incorporated by reference into this Agreement. The Plans may not be modified by the Developer without the prior written approval of the City. 7. IMPROVEMENTS. In developing the Subdivision in accordance with the Plans, the Developer shall make or install at its sole expense the following public and private improvements (collectively, the “Subdivision Improvements”): A. Grading and erosion control; B. Water system improvements; C. Stormwater improvements (storm sewer pipe, control structures, ponds, BMPs, etc.); D. Streets; E. Underground private utilities; F. Builder landscape improvements G. Subdivision landscape improvements; H. Street lighting and signage; I. Intersection improvements (turn lanes, by-pass lanes, traffic control, etc.); J. Tree preservation and reforestation; K. Wetland mitigation and buffers; and L. Monuments required by Minnesota Statutes. All improvements shall be installed in accordance with the approved Plans, the City approvals, the City Code, the City’s Engineering Design and Construction Standards Manual, the City’s Landscape Standards, and Stormwater Reuse Irrigation Design Standards. The Developer shall instruct its engineer to provide adequate field inspection personnel to assure an acceptable 6 LA515\144\1104319.v2 level of quality control to the extent that the Developer's engineer will be able to certify that the construction work meets the approved Plans, the City approvals, the City Code, and all applicable City design standards as a condition of City acceptance. In addition, the City may, at the City's discretion and at the Developer's expense, have one or more City inspectors or a soil engineer inspect the Developer’s work on a full or part-time basis. The Developer's engineer shall provide for on-site project management. The Developer's engineer is responsible for design changes and contract administration between the Developer and the Developer's contractor. 8. CITY ADMINISTRATION AND CONSTRUCTION OBSERVATION. Prior to the execution of this Agreement, the Developer shall submit to the City an amount to be escrowed by the City for costs incurred by the City for administration and construction observation costs in an amount provided under paragraph 34 of this Agreement - Summary of Cash Requirements. Thereafter, the Developer shall reimburse the City each month, within thirty (30) days of receiving an invoice, for all administration and construction observation costs incurred by the City during the construction of the Subdivision Improvements by the City’s engineering, public works, planning, and landscape architecture staff and consultants. If the Developer has not paid the invoices after thirty (30) days of the invoice date, the City may draw upon the escrow and stop the work on site until the escrow has been replenished in its full amount. City administration and oversight will include monitoring of construction progress and construction observation, consultation with the Developer and the Developer’s professionals on status or problems regarding the project, coordination for testing, final inspection and acceptance, project monitoring during the warranty period, and processing of requests for reduction in the Security. Construction observation shall include, at the discretion of the City, part or full time inspection of proposed public improvements. Services will be billed on an hourly basis. The direction and review provided by the City through the inspection of the Subdivision Improvements should not be considered a substitute for the Developer-required management of 7 LA515\144\1104319.v2 the construction of the Subdivision Improvements. The Developer must require the Developer’s contractor(s) to furnish the City with a schedule of proposed operations at least five (5) days prior to the commencement of construction of each type of Subdivision Improvement. The City shall inspect all Developer-installed Subdivision Improvements during and after construction for compliance with the Plans, the City approvals, the City Code, and the applicable City Standards. The Developer will notify the City at such times during construction as the City requires for inspection purposes. Such inspection is pursuant to the City’s governmental authority, and no agency or joint venture relationship between the City and the Developer is thereby created. 9. CONTRACTORS/SUBCONTRACTORS. City Council members, City employees, and City Planning Commission members, and corporations, partnerships, and other entities in which such individuals have greater than a 25 percent ownership interest or in which they are an officer or director may not act as contractors or subcontractors for the Subdivision Improvements identified in Paragraph 7 above. 10. TIME OF PERFORMANCE. The Developer shall install all required Subdivision Improvements by October 31, 2027, with the exception of the final wear course of asphalt on streets. The Developer shall install the bituminous wearing course of streets after the first course has weathered a winter season, consistent with warranty requirements, however, final acceptance of the Subdivision Improvements by the City will not be granted until all work is completed, including the final wear course. The Developer may, however, request an extension of time from the City. If the City grants an extension, it shall be conditioned upon updating the Security posted by the Developer to reflect cost increases and amending this Agreement if necessary to reflect the extended completion date. Final wear course placement outside of this time frame must have the written approval of the City Engineer. 11. MAINTENANCE DURING CONSTRUCTION. The Developer shall be responsible for all maintenance of the Subdivision Improvements including the snow plowing of the streets, roads, 8 LA515\144\1104319.v2 alleys, and sidewalks abutting lots not yet sold or transferred, until the Subdivision Improvements are accepted by the City in writing. The Developer and its contractors must adhere to the City’s weight restrictions for all streets both inside and outside of the Subdivision, regardless of whether said streets are included in the City’s map of streets with weight restrictions and regardless of whether said streets are fully constructed. The Developer also is responsible to locate all underground utilities until the Subdivision is accepted in writing by the City. Warning signs shall be placed by the Developer when hazards develop in streets to prevent the public from traveling on same and to direct attention to detours. If and when streets become impassable, such streets shall be barricaded and closed by the Developer. In the event residences are occupied prior to completing streets, the Developer shall maintain a smooth surface and provide proper surface drainage to ensure that the streets are passable for traffic and emergency vehicles. The Developer shall be responsible for keeping streets within and without the Subdivision clean and clear of dirt and debris that may spill, track, or wash onto the street from the Developer’s operations. The Developer shall contract for street cleaning for streets within and immediately adjacent to the Subdivision. At a minimum, scraping and sweeping shall take place on a weekly basis and on a daily basis during heavy tracking days. Prior to the City’s acceptance of the streets, the City may agree, at the City’s sole discretion, to keep the streets open during winter months by plowing snow. The City will consider snow plowing streets on a case by case basis: 1) the Developer must request in writing the streets it is requesting to be plowed by the City; 2) there must be residences along the street; 3) for streets that do not have the bituminous wear course placed, the Developer must install paved wedges along all curb lines and catch basins of the street; 4) gate valves and manholes must be level with the pavement surface; 5) street curves, center medians, and other protrusions in the rights-of-way must be delineated with “HI-VIS” fiberglass stakes; 6) a site review must be scheduled by the Developer and conducted with the City’s Public Works Department with the 9 LA515\144\1104319.v2 Developer in attendance to review the streets that are being requested to be plowed prior to the commitment of plowing by the City; 7) the Developer must agree not to hold the City responsible for any damage caused by snow plowing operations to the streets, curb and gutter, manholes, catch basins or other infrastructure; and 8) the Developer shall enter into an agreement with the City for plowing of the streets. 12. LICENSE. The Developer hereby grants the City, its agents, employees, officers, and contractors a license to enter the Property to perform all work and inspections deemed appropriate by the City in conjunction with the development of the Property and this Agreement. 13. CONSTRUCTION ACCESS. Construction traffic access and egress for all building and Subdivision Improvements is restricted to access the Subdivision via Inwood Avenue N. at the approved designated rock construction entrance per the approved erosion control plans. All construction parking and staging, including the loading and unloading of equipment and supplies during the construction of the Subdivision Improvements must be completed interior to the Subdivision and are not allowed to occur on any adjacent public street or public right-of-way, including, but not limited to Inwood Ave. N. and the portion of Imperial Ave. N located in the Lake Elmo Heights subdivision. The Developer and its contractors shall be responsible for the repair and restoration of any damage to any street, curb, trail, sidewalk, and boulevard caused by the construction activities. All such repairs shall by inspected by the City and meet all City standards and specifications. The Developer must maintain adequate access for emergency vehicles that is acceptable to the City in its sole discretion at all times during construction. 14. CONSTRUCTION SEQUENCE AND COMPLIANCE. The City will require the Developer to construct the Subdivision Improvements in a sequence which will allow progress and compliance points to be measured and evaluated. The Developer and the Developer’s representatives are required to supervise and coordinate all construction activities for all 10 LA515\144\1104319.v2 Subdivision Improvements and must notify the City in writing stating when the work is ready for the inspection at each of the measurable points defined in the following paragraphs. 15. EROSION CONTROL. All construction regarding the Subdivision Improvements shall be completed in a manner designed to control erosion and in compliance with the approved plans and specifications for the construction, the City Code, the City’s Engineering Design and Construction Standards Manual, all watershed district permits, the Minnesota Pollution Control Agency’s best management practices, and other requirements including the City’s permit with the Minnesota Pollution Control Agency for the municipal separate storm sewer system program. Before initiating any work on the site, an erosion control plan must be implemented by the Developer and inspected and approved by the City. Erosion and sediment control measures shall be coordinated with the various stages of development. The City may impose additional erosion control requirements at any stage in development as deemed necessary to maintain a compliant site. All areas disturbed for site improvements must be reseeded by the Developer promptly after the work in the area is complete unless construction of the next stage of the Subdivision Improvements will begin in that area within seven (7) days. The parties recognize that time is of the essence in controlling erosion. If the Developer does not comply with the erosion control plan and schedule or supplementary instructions and warnings received from the City, the City may take such action as it deems appropriate to control erosion. If the Developer does not reimburse the City for any cost the City incurred for such work within 10 business days, the City may draw down the Security to pay any costs. No development, utility or street construction will be allowed, and no building permits will be issued by the City unless the Subdivision is in full compliance with the approved erosion control plan. If the City issues building permits before the acceptance of public Subdivision Improvements, the Developer assumes all responsibility for erosion control compliance throughout the Subdivision and the City may take such action as allowed by this Agreement 11 LA515\144\1104319.v2 against the Developer for any noncompliant issue as stated above. Erosion control plans for individual lots will be required in accordance with the City’s building permit requirements, or as required by the City or City Engineer. 16. SITE GRADING. In order to construct the Subdivision Improvements and otherwise prepare the Property for development, it will be necessary for the Developer to grade the Subdivision. All grading must be done in compliance with this Agreement and the approved grading plans. Within thirty (30) days after completion of the grading, the Developer shall provide the City with an “as built” grading plan and a certification prepared by the Developer’s engineer as required in the City’s Engineering Design and Construction Standards Manual. Within (5) days after completion of the grading, the Developer shall request an inspection of tree preservation compliance from the Planning Department. If additional tree plantings are required, the landscape plan shall be modified and additional replacement trees planted as approved by the City prior to the warranty period beginning. 17. STREET AND UTILITY IMPROVEMENTS. All Improvements shall be installed in accordance with the approved Plans, the City approvals, the City Code, and the City’s Engineering Design and Construction Standards Manual. Once the work is completed, the Developer or the Developer’s representative shall submit a written request to the City asking for an inspection of the initial improvements. The City will then schedule a walk- through to create a punch list of outstanding items to be fully addressed or corrected by the Developer. Upon receipt of the written punch list provided by the City, the Developer must complete all items on the punch list and then notify the City to re-inspect the Improvements. The Developer shall install the final bituminous wear course after the first bituminous course has weathered a winter season. Prior to placement of the final bituminous wear course, the Developer shall repair or replace all broken or failing curbs, sidewalks and damaged or settled streets as determined by the City from a pre- wear course walk through inspection. 12 LA515\144\1104319.v2 18. LANDSCAPING AND TREE REPLACEMENT IMPROVEMENTS. A. Prior to installation of landscaping, the Developer shall notify the Planning Department and a pre-construction meeting shall be held with the City’s Landscape Architect to review landscaping requirements, best practices, and inspection schedules. B. The Developer agrees to install landscaping in accordance with the approved Plans, the City approvals, the City Code, the City’s Engineering Design and Construction Standards Manual, and the City’s Landscape and Irrigation Standards. All landscaping materials such as trees, shrubs, grasses, or other vegetation installed by the Developer must be warrantied and maintained for a period of two years, with the exception of trees planted on lots that have single-family homes, which are not required to be warrantied. The two-year warranty period for landscaping materials shall be deemed to start once all required landscaping identified as responsibility of Developer in the approved Plans for the Subdivision has been field verified and accepted by the City. The Developer agrees to have the installer of the landscaping complete an inspection thirty (30) days before the end of the two-year warranty period and provide the City with a written report identifying the condition of all landscaping. In the event that any landscaping installed by the Developer is deemed through this inspection to be in poor condition or dead, the Developer is to replace the landscaping with like kind materials or as otherwise approved by the City. C. The Developer shall be responsible for maintaining regular watering, fertilizing, and over-seeding necessary to establish final lawns and yards as identified in the approved Plans for outlots, public rights-of-way, and any disturbed areas outside the Subdivision boundaries according to a landscape maintenance plan approved by the City. The Developer agrees to achieve “substantial performance” on all seeded or 13 LA515\144\1104319.v2 sodded lawns and yards disturbed during the construction of Subdivision Improvements. For the purpose of this Agreement, “substantial performance” shall be defined for areas seeded or sodded with a turf or lawn mix as “square foot turf areas with an average blade height of three inches free of eroded, bare, or dead spots and free from perennial weeds or unwanted grasses with no visible surface soil.” For areas seeded with a native grass or flower mix “substantial performance,” shall be defined as “square foot native grass or flower areas with an average height of eight inches free of eroded, bare, or dead spots and no visible surface soil.” 19. SIGNAGE, STREET LIGHTING AND OTHER UTILITIES. The Developer agrees to install street signs, traffic and parking signs, and pavement markings within the Subdivision all in accordance with the approved Plans and the City Engineering Design Standards Manual. Street and traffic sign details shall be submitted for approval by the City prior to installation. In addition, the Developer shall be responsible for the cost and all coordination work to extend private utilities and street lights within the Subdivision all in accordance with the approved plans and right-of-way permits. 20. OWNERSHIP OF IMPROVEMENTS. Upon completion of the work and construction required by this Agreement, the Subdivision Improvements lying within public easements shall become City property. Before acceptance of the public Subdivision Improvements by the City, the Developer must furnish the City with a complete set of reproducible "record" plans and an electronic file of the "record" plans in accordance with the City’s Engineering Design and Construction Standards Manual together with the following affidavits: - Developer/Developer Engineer’s Certificate - Land Surveyor’s Certificate certifying that all construction has been completed in accordance with the terms of this Agreement. Upon receipt of “record plans” and certificates and upon review and verification by the City Engineer that the public Subdivision Improvements have been completed in accordance 14 LA515\144\1104319.v2 with the terms of this Agreement, including all punch list items, the City will accept the completed public Subdivision Improvements. 21. PARK DEDICATION. The Developer shall pay a cash contribution of $90,000 to satisfy the City’s park dedication requirements for the Subdivision. The Subdivision park dedication was calculated as follows: 78.24 gross acres x 5 percent = 3.912 acres. The purchase price of the property is $23,006.13 per acre. 22. UTILITY CHARGES. The Developer shall be responsible for the payment of all water availability charges (WAC) with respect to the Subdivision Improvements required by the City and any state or metropolitan government agency. The water availability charge (WAC) in the amount of $3,000.00 per REC shall be paid by the Developer to the City before recording the final plat. The total amount to be paid by the Developer is $51,000. In addition, a water connection charge in the amount of $1,000.00 per REC will be payable by the Developer and collected by the City at the time the City issues a building permit for each building with the development. 23. STREET LIGHTS. The Developer is responsible for the cost of street light installation consistent with a street lighting plan approved by the City. Before the City signs the final plat, the Developer shall post a Security for street light installation consistent with the approved street lighting plan. The required Security is $40,000 and consists of four (4) decorative lights at $10,000 each. The Developer shall also pay the City $395/light to reimburse the City for the first year operating costs for the street lights. 24. WETLAND MITIGATION. The Developer shall complete wetland mitigation/restoration in accordance with the approved Plans and in accordance with any applicable Watershed or agency permits. If the mitigation work is found to be incomplete or restoration is unsuccessful, the City may draw down the Security at any time during the warranty period to perform the work 15 LA515\144\1104319.v2 if the Developer fails to take corrective measures after being provided notice by the City. 25. BUILDING PERMITS/CERTIFICATES OF OCCUPANCY. A. The City will not issue any building permits for any lot within the Subdivision, or within a completed phase of the Subdivision in a City preapproved phasing plan, until such time that water, storm sewer, curbing and one lift of asphalt has been installed and tested for all public streets; boulevard grading has been completed within the entire right-of-way (without hold down grading for the future sidewalk or any other improvements); street and traffic control signs are installed; property monuments have been installed, grading as-built plans have been submitted and approved by the City. A “preapproved phasing plan” is defined as a phased construction plan that has been submitted by the Developer and approved by the City in advance of the preconstruction meeting for the Subdivision. Once the construction has started, the City will not consider revisions to the phasing plan for the purpose of issuing building permits. B. The City may issue up to a total of Three (3) building permits for a “Model Home” if authorized by the City Community Development Director before the completion of the Subdivision Improvements described in paragraph 25 (A) above, however, the Model Home Lot shall have the following in place before the City will allow construction of the Model Home to proceed: 1. Adequate safe public access for emergency services and contractors, including a paved bituminous road to the building pad for the Model Home that is sufficient to allow construction to proceed; 2. A grading as-built plan approved by the City for the lot identified (the “Model Home Lot”) to include the Model Home and all downstream drainage facilities; 3. All storm water drainage facilities that include and are downstream from the 16 LA515\144\1104319.v2 Model Home Lot are in place, meet the approved project plans, and are verified by the City; and 4. The Developer shall install adequate parking, and municipal water to the Model Home Lot. C. The City will not issue a certificate of occupancy for any Model Home until all conditions and improvements identified in paragraph 25 (A) above have been completed and accepted by the City. D. Before the City issues any building permits, the Developer shall install wetland buffer monuments in accordance with the City’s zoning ordinance. The monument design shall be approved by the City Planning Department. E. Breach of the terms of this Agreement by the Developer, including nonpayment of billings from the City, shall be grounds for denial of building permits, certificates of occupancy, and withholding of other permits, inspection or actions and the halting of all work in the Subdivision. F. If the City issues building permits before the acceptance of the public Subdivision Improvements by the City, the Developer assumes all liability and costs resulting in delays in completion of public Subdivision Improvements and damage to public Subdivision Improvements caused by the City, the Developer, the Developer’s contractors, subcontractors, materialmen, employees, agents, or any third parties. G. No water connection permits may be issued until the streets needed for access have been paved with a bituminous surface and the utilities are tested and approved by the City Engineer. 26. RESPONSIBILITY FOR COSTS. A. In the event that the City receives claims from labor, materialmen, or others that work required by this Agreement has been performed and the amounts due to them have 17 LA515\144\1104319.v2 not been paid, and the laborers, materialmen, or others are seeking payment from the City, the Developer hereby authorizes the City to commence an Interpleader action pursuant to Rule 22, Minnesota Rules of Civil Procedure for the District Courts, to draw upon the Security in an amount up to 125 percent of the claim(s) and deposit the funds in compliance with the Rule, and upon such deposit, the Developer shall release, discharge, and dismiss the City from any further proceedings as it pertains to the funds deposited with the District Court, except that the Court shall retain jurisdiction to determine attorneys' fees pursuant to this Agreement. B. Except as otherwise specified herein, the Developer shall pay all costs incurred by it or the City in conjunction with the development of the Subdivision, including but not limited to legal, planning, engineering, and inspection expenses incurred in connection with the City’s approval and acceptance of the plat and the Subdivision, the preparation of this Agreement, the City’s review of construction plans and documents, and all costs and expenses incurred by the City in monitoring and inspecting development of the Subdivision. All amounts incurred and due to the City at the time of the recording of the final plat must be fully paid by the Developer before the City will execute and release the final plat for recording. C. The Developer shall hold the City and its officials, employees, and agents harmless from claims made by itself and third parties for damages sustained or costs incurred resulting from the City’s approval of the plat and the development of the Subdivision. The Developer shall indemnify and defend the City and its officials, employees, and agents for all costs, damages, or expenses which the City may pay or incur in consequence of such claims, including attorneys' fees. D. The Developer shall reimburse the City for costs incurred in the enforcement of this Agreement, including reasonable engineering and attorneys' fees. E. The Developer shall pay, or cause to be paid when due, and in any event before any 18 LA515\144\1104319.v2 penalty is attached, all special assessments referred to in this Agreement. This is a personal obligation of the Developer and shall continue in full force and effect even if the Developer sells one or more lots, the entire Property, or any portion of it. F. The Developer shall pay in full all bills submitted to it by the City for obligations incurred under this Agreement within thirty (30) days after receipt. Bills not paid within thirty (30) days will be assessed a late fee per the City adopted fee schedule. Upon request, request, the City will provide copies of detailed invoices of the work performed by the City and its consultants. 27. MISCELLANEOUS. A. The Developer must obtain a sign permit from the City Building Official before the installation of any subdivision identification signs. B. Prior to the construction of any subdivision identification signs or neighborhood markers within the development, the Developer shall submit sign plans for review and obtain a sign permit from the City. Any amendments to the finding regarding signs indicated in the City Council Resolution shall be subject to a PUD amendment or variance. C. The Developer may not assign this Agreement without the written permission of the City Council. The Developer's obligations hereunder shall continue in full force and effect even if the Developer sells one or more lots, the entire Property, or any portion of it. D. Retaining walls that require a building permit shall be constructed in accordance with plans and specifications prepared by a professional engineer licensed by the State of Minnesota. Following construction, a certification signed by the design engineer shall be filed with the City evidencing that the retaining wall was constructed in accordance with the approved Plans. All retaining walls identified on the Plans or 19 LA515\144\1104319.v2 by special conditions referred to in this Agreement shall be constructed before any other building permit is issued for a lot on which a retaining wall is required to be built. E. The Developer shall take out and maintain or cause to be taken out and maintained until six months after the City has accepted the public Subdivision Improvements: 1) commercial general liability insurance (CGL) covering bodily injury and property damage; 2) automobile liability insurance (coverage must apply to owned autos, non- owned autos, and hired autos); 3) workers’ compensation insurance as required by state statute; and 4) employer’s liability insurance. Limits for the commercial general liability insurance policy shall be not less than $2,000,000 for each occurrence. The City shall be named as an additional insured on the commercial general liability insurance policy, and the Developer shall file with the City a certificate of insurance evidencing coverage prior to the City signing this Agreement. The certificate shall provide that the City must be given thirty (30) days’ advance written notice of the cancellation of the insurance. F. Third parties shall have no recourse against the City under this Agreement. G. If any portion, section, subsection, sentence, clause, paragraph, or phrase of this Agreement is for any reason held invalid, such decision shall not affect the validity of the remaining portion of this Agreement. H. The action or inaction of the City shall not constitute a waiver or amendment to the provisions of this Agreement. To be binding, amendments or waivers shall be in writing, signed by the parties and approved by written resolution of the City Council. The City's failure to promptly take legal action to enforce this Agreement shall not be a waiver or release. I. This Agreement shall run with the land and will be recorded against the title to the 20 LA515\144\1104319.v2 Property at the Developer’s expense. The Developer covenants with the City, its successors and assigns, that the Developer has fee title to the Property being final platted and has obtained consents to this Agreement, in the form attached hereto, from all parties who have an interest in the Property, including, but not limited to, the fee owner and the mortgagees; that there are no unrecorded interests in the Property being final platted; and that the Developer will indemnify, defend, and hold the City harmless for any breach of the foregoing covenants. J. Each right, power or remedy herein conferred upon the City is cumulative and in addition to every other right, power or remedy, express or implied, now or hereafter arising, available to City, at law or in equity, or under any other agreement, and each and every right, power and remedy herein set forth or otherwise so existing may be exercised from time to time as often and in such order as may be deemed expedient by the City and shall not be a waiver of the right to exercise at any time thereafter any other right, power or remedy. K. The Developer represents to the City that the Subdivision and the Subdivision Improvements comply or will comply with all City, County, metropolitan, state, and federal laws and regulations, including but not limited to: subdivision ordinances, zoning ordinances, and environmental regulations. If the City determines that the Subdivision is not in compliance, the City may, at its option, refuse to allow construction or development work in the Subdivision until it is brought into compliance. Upon the City’s demand, the Developer shall cease work until there is compliance. 28. EVENTS OF DEFAULT. The following shall be "Events of Default" under this Agreement and the term "Event of Default" shall mean, whenever it is used in this Agreement, any one or more of the following events: A. Subject to unavoidable delays, failure by the Developer to commence and complete 21 LA515\144\1104319.v2 construction of the public Subdivision Improvements pursuant to the terms, conditions, and limitations of this Agreement. B. Failure by the Developer to substantially observe or perform any material covenant, condition, obligation, or agreement on its part to be observed or performed under this Agreement. 29. REMEDIES ON DEFAULT. Whenever any Event of Default occurs, the City, subject to any rights of third parties agreed to by the City pursuant to this Agreement, or otherwise by written, executed instrument of the City, may take any one or more of the following: A. The City may suspend its performance under the Agreement until it receives assurances from the Developer, deemed adequate by the City, that Developer will cure its default and continue its performance under the Agreement. Suspension of performance includes the right of the City to withhold permits including, but not limited to, building permits. B. The City may initiate such action, including legal or administrative action, as is necessary for the City to secure performance of any provision of this Agreement or recover any amounts due under this Agreement from the Developer, or immediately draw on the Security, as set forth in this Agreement. 30. ENFORCEMENT BY CITY; DAMAGES. The Developer acknowledges the right of the City to enforce the terms of this Agreement against the Developer, by action for specific performance or damages, or both, or by any other legally authorized means. In the event of a default by the Developer as to construction or repair of any of the Subdivision Improvements or any other work or undertaking required by this Agreement, the City may, at its option, perform the work and the Developer shall promptly reimburse the City for any expense incurred by the City. This Agreement is a license for the City to act, and it shall not be necessary for the City to seek an order from any court for permission to enter the Subdivision for such purposes. If the City 22 LA515\144\1104319.v2 does such work, the City may, in addition to its other remedies, levy special assessments against the land within the Subdivision to recover the costs thereof. For this purpose, the Developer, for itself and its successors and assigns, expressly waives any and all procedural and substantive objections to the special assessments, including, but not limited to, hearing requirements, and any claim that the assessments exceed the benefit to the land so assessed. The Developer, for itself and its successors and assigns, also waives any appeal rights otherwise available pursuant to Minnesota Statutes Section 429.081. The Developer also acknowledges that its failure to perform any or all of the Developer’s obligations under this Agreement may result in substantial damages to the City; that in the event of default by the Developer, the City may commence legal action to recover all damages, losses and expenses sustained by the City; and that such expenses may include, but are not limited to, the reasonable fees of legal counsel employed with respect to the enforcement of this Agreement. 31. WARRANTY. During the warranty period, the Developer warrants that all Subdivision Improvements will be free from defects and that they will continue to meet all technical specifications and standards. During the warranty period, the Developer agrees to repair or replace any Subdivision Improvement, or any portion or element thereof, which shows signs of failure, normal wear and tear excepted. If the Developer fails to repair or replace a defective Subdivision Improvement during the warranty period, the City may repair or replace the defective portion and may use the Security to reimburse itself for such costs. The Developer agrees to reimburse the City fully for the cost of all Subdivision Improvement repair or replacement if the cost thereof exceeds the remaining amount of the Security. Such reimbursement must be made within forty-five (45) days of the date upon which the City notifies the Developer of the cost due under this paragraph. The Developer hereby agrees to permit the City to specially assess any unreimbursed costs against any lots in the Subdivision which have not been sold to home buyers if the Developer fails to make required payments to the City. The Developer, on behalf of itself 23 LA515\144\1104319.v2 and its successors and assigns, acknowledges the benefit to the lots within the Subdivision of the repair or replacement of the Subdivision Improvements and hereby consents to such assessment and waives the right to a hearing or notice of hearing or any appeal thereon under Minnesota Statutes, Chapter 429. A. The required warranty period for all work relating to the public water shall be two (2) years from the date of final written City acceptance of the work. B. The required warranty period for all work relating to street construction, including concrete curb and gutter, sidewalks and trails, materials and equipment shall be subject to one (1) year from the date of final written acceptance of the work. C. The required warranty period for sod, trees, and landscaping is two (2) years from the date of final written City acceptance of the installation as provided by LEC 105.12.480(i). 32. SUMMARY OF SECURITY REQUIREMENTS. To guarantee compliance with the terms of this Agreement, payment of special assessments, payment of the costs of all public Subdivision Improvements, and construction of all public Subdivision Improvements, the Developer shall furnish the City with an irrevocable letter of credit or a cash escrow or a combination of a cash escrow and letter of credit (the “Security") in the amount of $_________ or $___________ with a separately executed grading agreement. The bank originating the letter of credit shall be determined by the City to be solvent and creditworthy. The letter of credit shall substantially be in the form attached to this Agreement and must be approved by the City. The amount of the Security was calculated as itemized on Exhibit B. If at any time the City reasonably determines that the bank issuing the letter of credit no longer satisfies the City’s requirements regarding solvency and creditworthiness, the City shall notify the Developer, and the Developer shall provide to the City within forty-five (45) days a substitute for the letter of credit from another bank meeting the City’s requirements. If the Developer fails to provide the City within forty-five 24 LA515\144\1104319.v2 (45) days with a substitute letter of credit from an issuing bank satisfactory to the City, the City may draw under the existing letter of credit. This breakdown is for historical reference; it is not a restriction on the use of the Security. The City may draw down the Security, without notice, for any violation of the terms of this Agreement or if the Security is allowed to lapse prior to the end of the required term. If the required public Subdivision Improvements are not completed at least thirty (30) days prior to the expiration of the Security, the City may also draw it down. If the Security is drawn down, the proceeds shall be used by the City to cure the default. 33. REDUCTION OF SECURITY. Upon written request by the Developer and upon receipt of proof satisfactory to the City Engineer that work has been completed in accordance with the approved Plans and the terms of this Agreement and that all financial obligations to the City have been satisfied, the City Engineer may approve reductions in the Security in the following instances: A. Upon completion of grading operations, including temporary site restoration. If the Developer has not entered into a separate grading agreement with the City which contains terms for the release of a grading security, the Developer must submit an as- built grading survey to the City that at a minimum establishes the as-built grades at all lot corners and downstream drainage conveyance systems and storm water ponds. Upon inspection of the site and approval of the as-built survey by the City, the City may release 100 percent, or $550,323, of the Security associated with subdivision grading. This Security reduction does not include amounts related to erosion and sedimentation control. B. Up to 75 percent of the Security associated with the itemization on Exhibit B may be released upon completion of the following key milestones of the project as determined by the City Engineer: 25 LA515\144\1104319.v2 1. Construction Categories 2 and 3: The amount of $326,536 may be released when all watermain utilities have been installed, all testing has been successfully completed, and the utilities are considered ready for use by the City Engineer. 2. Construction Categories 4 and 5: The amount of $877,934 may be released when all streets and storm sewer have been installed, televised and tested, and have been found to be complete to the satisfaction of the City Engineer including all corrective work for any identified punch list items and including verification of storm sewer as-built inverts, but not including the final wear course. 3. Construction Categories 6--10 and 15--18: The amount of $478,384 may be released when the public Subdivision Improvements are accepted by the City Engineer and the City Council, including all improvements in categories 6-10 and 15-18: (1) bituminous wear course; (2) bio retention and infiltration facilities; (3) street lighting; (4) street and traffic signs; (5) all private utilities; (6) iron monuments for lot corners have been installed; (7) turf is established and all erosion and sedimentation control has been removed; (8) turn lanes and off-site public improvements; (9) the required "record" plans in the form of the City standards have been received and approved by the City; (10) all financial obligations to the City have been satisfied. 4. Construction Category 11: The amount of $____________________may be released when all Builder Landscaping Subdivision Improvements have been installed to the satisfaction of the City including all corrective work for any identified punch list items. 5. Construction Categories 12, 13 and 14: The amount of $________________ may be released when Developer Landscaping Subdivision Improvements, 26 LA515\144\1104319.v2 Tree Preservation and Restoration work, and Wetland Mitigation and Buffers have been completed and installed to the satisfaction of the City including all corrective work for any identified punch list items. C. Twenty-five percent of the original Security amount for the watermain utilities shall be retained until: (1) all watermain utilities have been fully completed and accepted by the City, including all corrective work and warranty punch list items; (2) all financial obligations to the City have been satisfied; and (3) the warranty period has expired. D. Twenty-five percent of the original Security amount for Construction Categories 4- 10 and 15-18 shall be retained until: (1) all Subdivision Improvements have been fully completed and accepted by the City, including all corrective work and warranty punch list items; (2) all financial obligations to the City have been satisfied; and (3) the warranty period has expired. E. Twenty-five percent of the original Security amount associated with builder landscaping shall be retained by the City until: (1) all landscaping Subdivision Improvements have been fully completed and accepted by the City, including all corrective work and warranty punch list items being completed by the Developer; (2) all financial obligations to the City have been satisfied; and (3) the warranty period has expired. F. Twenty-five percent of the original Security amount associated with Subdivision landscaping shall be retained by the City until: (1) all landscaping Subdivision Improvements have been fully completed and accepted by the City, including all corrective work and warranty punch list items being completed by the Developer; (2) all financial obligations to the City have been satisfied; and (3) the warranty period has expired. G. In addition to the above project milestone based Security reductions, the 27 LA515\144\1104319.v2 Developer may submit a written request and upon receipt of proof satisfactory to the City Engineer that work is progressing in accordance with the approved Plans and the terms of this Agreement and that all financial obligations to the City have been satisfied, the City Engineer may approve a one-time reduction in the Security for Construction Categories 2-5 in an amount not to exceed 50 percent of the initial Security amount. This one-time Security reduction does not apply to Categories 4- 5 if boulevard sidewalks or trails have not been installed. 34. SUMMARY OF CASH REQUIREMENTS. The following is a summary of the cash requirements under this Agreement that must be paid to the City before recording the final plat: Water Availability Charge (WAC): $51,000 Park Dedication: $90,000 Street Light Operating Fee: $1580 City Engineering Administration Escrow: $50,000 TOTAL CASH REQUIREMENTS: $192,580 35. NOTICES. Required notices to the Developer shall be in writing, and shall be either hand delivered to the Developer, its employees or agents, or mailed to the Developer by certified mail at the following address: __________________________ and emailed to Developer at the Developer’s email address [Developer email Address]. Notices to the City shall be in writing and shall be either hand delivered to the City Administrator or mailed to the City by certified mail in care of the City Administrator at the following address: Lake Elmo City Hall, 3880 Laverne Avenue N., Lake Elmo, Minnesota 55042. 36. EVIDENCE OF TITLE. The Developer shall furnish the City with evidence of fee ownership of the property being platted by way of a title insurance policy dated not earlier than 30 days prior to the execution of the plat. 37. COMPLIANCE WITH LAWS. The Developer agrees to comply with all laws, ordinances, regulations, and directives of the state of Minnesota and the City applicable to the 28 LA515\144\1104319.v2 Subdivision. This Agreement shall be construed according to the laws of the Minnesota. 38. SEVERABILITY. In the event that any provision of this Agreement shall be held invalid, illegal, or unenforceable by any court of competent jurisdiction, such holding shall pertain only to such section and shall not invalidate or render unenforceable any other provision of this Agreement. 39. NON-WAIVER. Each right, power, or remedy conferred upon the City by this Agreement is cumulative and in addition to every other right, power, or remedy, express or implied, now, or hereafter arising, or available to the City at law or in equity, or under any other agreement. Each and every right, power, and remedy herein set forth or otherwise so existing may be exercised from time to time as often and in such order as may be deemed expedient by the City and shall not be a waiver of the right to exercise at any time thereafter any other right, power, or remedy. If either party waives in writing any default or nonperformance by the other party, such waiver shall be deemed to apply only to such event and shall not waive any other prior or subsequent default. 40. COUNTERPARTS. This Agreement may be executed simultaneously in any number of counterparts, each of which shall be an original and shall constitute one and the same Agreement. 29 LA515\144\1104319.v2 CITY OF LAKE ELMO By: ____________ __________________ Charles Cadenhead Its: Mayor By: __________________ _____________ Julie Johnson Its: City Clerk STATE OF MINNESOTA ) ) ss. COUNTY OF WASHINGTON ) The foregoing instrument was acknowledged before me this ___ day of ________________, 20___, by Charles Cadenhead and Julie Johnson, the Mayor and City Clerk, respectively, of the City of Lake Elmo, a Minnesota municipal corporation, on behalf of the City and pursuant to the authority granted by its City Council. NOTARY PUBLIC 30 LA515\144\1104319.v2 RACHEL DEVELOPMENT, INC. By: ___________________________________ Its: ___________________________________ STATE OF MINNESOTA ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this ___, day of _________________, 20___, by _______________________, the _______________________of Rachel Development, Inc., a corporation in the state of Minnesota. NOTARY PUBLIC DRAFTED BY: City of Lake Elmo 3880 Laverne Avenue North Lake Elmo, MN 55042 (651) 747- 3900 31 LA515\144\1104319.v2 FEE OWNER CONSENT TO DEVELOPMENT AGREEMENT , fee owners of all or part of the subject property, the development of which is governed by the foregoing Development Agreement, affirm and consent to the provisions thereof and agree to be bound by the provisions as the same may apply to that portion of the subject property owned by them. Dated this day of , 2 . STATE OF MINNESOTA ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this ____ day of _____________, 20___. NOTARY PUBLIC DRAFTED BY: City of Lake Elmo 3880 Laverne Avenue North Lake Elmo, MN 55042 (651) 747-3900 32 LA515\144\1104319.v2 MORTGAGEE CONSENT TO DEVELOPMENT AGREEMENT , which holds a mortgage on the Property, the development of which is governed by the foregoing Development Agreement, agrees that the Development Agreement shall remain in full force and effect even if it forecloses on its mortgage. Dated this day of , 20______. STATE OF MINNESOTA ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this ___ day of ________________, 20____, by _______________________________________________________________. NOTARY PUBLIC DRAFTED BY: City of Lake Elmo 3880 Laverne Avenue North Lake Elmo, MN 55042 (651) 747-3901 A-1 LA515\144\1104319.v2 EXHIBIT A TO DEVELOPMENT AGREEMENT Legal Description of the Property Pre-Plat Legal Description: The North Half of the Southwest Quarter of Section 21, Township 29, Range 21, Washington County, Minnesota. Except All that part of the North 75.00 feet of the East 150.00 feet of the North Half of the Southwest Quarter of Section 21, Township 29 North, Range 21 West, Washington County, Minnesota, which lies westerly of the west line of Parcel 3 of the Washington County Highway Right of Way Plat No. 98 - C.S.A.H. 13, according to the recorded plat thereof. Abstract Property Post-Plat Legal Description: Lot 1, Block 1, Lots 1-11, Block 2, Lots 1-6, Block 3, Lots 1-5, Block 4, Outlots A, B, C, and D, Highpointe Crossing, according to the recorded plat thereof, County of Washington, State of Minnesota. C-1 LA515\144\1104319.v2 EXHIBIT B TO DEVELOPMENT AGREEMENT Subdivision Improvements Cost/Security Amount Estimate CONSTRUCTION CATEGORY COST 125 percent 1 Grading (may be included in grading agreement security) $440,259 $550,323 2 Sanitary Sewer NA NA 3 Watermain $348,305 $435,381 4 Storm Sewer (includes pond structures and outfall pipes) $339,708 $424,634 5 Streets and Sidewalks $596,755 $745,944 6 Trails NA NA 7 Surface Water Facilities (ponds, infiltration basins, other BMPs) $176,659 $220,824 8 Street Lighting $40,000 $50,000 9 Street and Traffic Signs $8,300 $10,375 10 Private Utilities (electricity, natural gas, telephone, and cable) NA NA 11 Builder Landscaping Improvements $ $ 12 Subdivision Landscaping Improvements $ $ 13 Tree Preservation and Restoration $ $ 14 Wetland Mitigation and Buffers $ $ 15 Monuments $3,600 $4,500 16 Erosion and Sedimentation Control $66,083 $82,603 17 County Roadway Improvements $204,535 $255,669 C-2 LA515\144\1104319.v2 18 Developer’s Record Drawings $8,000 $10,000 TOTALS $ $ C-3 LA515\144\1104319.v2 FORM OF IRREVOCABLE LETTER OF CREDIT No.__________________ Date: ________________ TO: City of Lake Elmo Dear Sir or Madam: We hereby issue, for the account of (Name of Developer) and in your favor, our Irrevocable Letter of Credit in the amount of $___________ available to you by your draft drawn on sight on the undersigned bank. The draft must: a) Bear the clause, "Drawn under Letter of Credit No.____________, dated ______________, 20___, of (Name of Bank)" ; b) Be signed by the Mayor or City Administrator of the City of Lake Elmo. c) Be presented for payment at (Address of Bank) , on or before 4:00 p.m. on November 30, 20___. We hereby agree that all sight drafts drawn under and in conformity with the terms of this Letter of Credit will be duly honored if drawn and presented for payment together with the documents required herein to [INSERT NAME AND ADDRESS OF BANK AND CONTACT PERSON] if presented before _____p.m. on or before the expiration date. Presentations may be made by certified mail, return receipt requested, or by Federal Express or any other recognized courier company. This Letter of Credit shall automatically renew for successive one -year terms unless, at least forty-five (45) days prior to the next annual renewal date (which shall be November 30 of each year), the Bank delivers written notice to the Lake Elmo City Administrator that it intends to modify the terms of, or cancel, this Letter of Credit. Written notice is effective if sent by certified mail, postage prepaid, and deposited in the U.S. Mail, at least forty-five (45) days prior to the next annual renewal date addressed as follows: City Administrator, City Hall, 3880 Laverne Ave. N, Lake Elmo Minnesota 55042 and is actually received by the City Administrator at least thirty (30) days prior to the renewal date. This Letter of Credit sets forth in full our understanding which shall not in any way be modified, amended, amplified, or limited by reference to any document, instrument, or agreement, whether or not referred to herein. This Letter of Credit is not assignable. This is not a Notation Letter of Credit. More than one draw may be made under this Letter of Credit. This Letter of Credit shall be governed by the most recent revision of the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce Publication No. 600. We hereby agree that a draft drawn under and in compliance with this Letter of Credit shall be duly honored upon presentation. By: Its: STAFF REPORT DATE: July 7, 2026 REGULAR TO: Mayor and Councilmembers FROM: City Clerk Julie Johnson, Administrative Services Director Jennifer Doyle AGENDA ITEM: Mayor and Councilmember Salaries CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☒ Responsive, transparent, adaptive governance ☐Managed Growth ☐ Efficient, reliable, innovative services ☐ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: City Code 3.08.080- Salaries of Mayor and Councilmembers states: “The mayor and councilmembers shall be paid salaries as determined from time to time by the council and set by ordinance. An ordinance establishing council salaries shall be adopted before a regular city election and shall not be effective until January 1 following such election.” Council’s last compensation increase was approved in July of 2012 with an effective date of 1/1/2013. The mayor’s salary increased from the 2008 approved rate of $3,915 per year to $6,250 and councilmembers’ from $3,130 to $4,860. As this is an election year, any consideration for an increase to the mayor and council salaries would need to be approved prior to the November 3rd election. ISSUE BEFORE COUNCIL: Should the Council adopt Ordinance 2026-08 setting salaries for the mayor and councilmembers? PROPOSAL DETAILS/ANALYSIS: At the June 9, 2026 City Council Workshop, the Council reviewed information on council salaries from neighboring communities and communities of similar sizes. The Council considered the median salary rates of similar sized cities and the level of activity in Lake Elmo. Consensus was reached to set annual pay to $7,000 for councilmembers and $9,000 for the mayor with annual cost of living adjustments included in the ordinance. The proposed ordinance update incorporates council pay rates into the city code for better transparency for citizens. FISCAL IMPACT: The first year increase for the pay rates proposed in draft ordinance 2026-08 is $11,310. OPTIONS: 1)Adopt ordinance 2026-08 as drafted. 2)Amend and adopt ordinance 2026-08. 3)Do not adopt ordinance 2026-08. RECOMMENDATION: (if pulled from Consent) “Move to adopt ordinance 2026-08 Setting the Salaries of Mayor and Councilmembers” ATTACHMENTS: Ordinance 2026-08 CITY OF LAKE ELMO COUNTY OF WASHINGTON STATE OF MINNESOTA ORDINANCE NO. 2026-08 AN ORDINANCE AMENDING THE LAKE ELMO CITY CODE OF ORDINANCES BY AMENDING CHAPTER 3.08.080 SALARIES OF MAYOR AND COUNCILMEMBERS SECTION 1. The City Council of the City of Lake Elmo hereby ordains that Chapter 3.08.080 of the City’s Code of Ordinances is hereby amended to read as follows (proposed language is underlined, deleted language is shown with strikethrough): 3.08.080 Salaries Of Mayor and Councilmembers The mayor and councilmembers shall be paid salaries as determined from time to time by the council and set by ordinance. An ordinance establishing council salaries shall be adopted before a regular city election and shall not be effective until January 1 following such election. Effective on January 1, 2027, the annual salary for each councilmember shall be $7,000 and the annual salary for the mayor shall be $9,000. Effective on each January 1 thereafter, the salaries for each councilmember and for the mayor shall be increased by the same annual cost-of-living-adjustment percentage increase that is given to City employees, who are not members of a collective bargaining unit, as of January 1 of each year. SECTION 2. Effective Date. This ordinance shall become effective January 1, 2027. SECTION 3. Adoption Date. This Ordinance 2026-08 was adopted on this 7th day of July, 2026, by a vote of __ Ayes and ___Nays. LAKE ELMO CITY COUNCIL ________________________________ Charles Cadenhead, Mayor ATTEST: ________________________________ City Clerk STAFF REPORT DATE: July 7, 2026 DISCUSSION TO: Mayor and Councilmembers FROM: Jack Griffin, Senior Project Manager AGENDA ITEM: Discuss Engineering Services for South Water Treatment Plant CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Responsive, transparent, adaptive governance ☐Managed Growth ☐ Efficient, reliable, innovative services ☒ Balanced Finances now and future ☒ Resilient Infrastructure BACKGROUND: In September 2023, the City of Lake Elmo retained Stantec Consulting Services as the City’s engineering consultant for PFAS water treatment plant design and authorized Stantec to provide engineering services for the Well 2 PFAS Water Treatment Plant to be operational on an accelerated project schedule. This project has been completed. In October 2023, the City of Lake Elmo approved a Grant Agreement with the MPCA and retained Stantec to provide engineering services for the Preliminary Design and Site Evaluation for the South Water Treatment Plant (“the Project”). The Preliminary Site Investigations are substantially completed including the construction of the test well. The preferred 8.2 acre site was determined to be suitable for the construction of the proposed South Water Treatment Plant (WTP) and has been confirmed for acquisition by the City. Water quality testing samples were taken and test results are expected back in the next week or two. The test results will be used to help inform the scope of treatment required at this facility. The remaining preliminary engineering work includes the final determination of the water treatment technology, IX or GAC, whether pretreatment is necessary for iron and manganese, and the capacity phasing of the plant from initial operation to full build-out. The final recommendations must be reviewed and approved by the 3M Co-Trustees to remain grant eligible. ISSUE BEFORE COUNCIL: Should the City Council transition the South Water Treatment Plant engineering services to Bolton-Menk, Inc. (BMI) to complete the Preliminary Design Phase for the Project? DISCUSSION: The two key Stantec water treatment plant experts leading the Lake Elmo projects have recently been hired by BMI, beginning employment in late June, 2026. A discussion with the City council is requested to consider pursuing a transition of the remaining preliminary design work to BMI to maintain access to these key experts, or to consider other transitional alternatives. Transitioning services to BMI will serve to keep the project on schedule, avoid rework, and maintain access to water treatment plant designers with significant knowledge and experience working on projects in the east metro area and using 3M Settlement Programs Funds. FISCAL IMPACT:No additional fiscal impact.The project costs for the water treatment plant preliminary engineering is reimbursed through the 3M Settlement Fund Grant. STAFF REPORT DATE: July 7, 2026 REGULAR TO: Mayor and Councilmembers FROM: Nate Stanley, City Engineer AGENDA ITEM: Stormwater Management Utility Code Review CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Responsive, transparent, adaptive governance ☐ Managed Growth ☐ Efficient, reliable, innovative services ☒ Balanced Finances now and future ☐ Resilient Infrastructure BACKGROUND: Earlier this year the City Council authorized an equity review of the Stormwater Utility Ordinance. The review has been completed and is attached to this memo. PROPOSAL DETAILS/ANALYSIS: On May 5, 2026, the City Council approved a scope of services for the City Engineer to complete a high-level equity review of the City’s Stormwater Utility Code, including the fee calculation methodology, associated land use categories, and appeals process. The review also included an assessment of situations where Homeowner Associations may be responsible for maintenance of public stormwater facilities through a Stormwater Maintenance Agreement. A detailed report has been prepared, but the key findings can be summarized as follows: 1.Lake Elmo has a vast array of different land uses and property classifications, making it difficult to represent all single-family residential properties within one category. Currently, all single-family residential properties are charged as a single unit which is a widely accepted approach to assigning stormwater utility fees. 2.The ordinance currently uses Utility Factors (UFs) to differentiate stormwater utility charges among non- residential land uses. A high-level review suggests the existing UFs are reasonable, although a more data-driven methodology could further refine the calculations. 3.Opportunities exist to improve proportionality within the stormwater utility rate structure. Incorporating a representative impervious surface analysis for various land use categories could better align charges with runoff- generating characteristics while maintaining a relatively simple and understandable fee structure. The implementation of these options would take time and a varying degree of cost to develop. Each option presented also requires different levels of staff time to maintain as the city grows and develops. 4.Lake Elmo currently allows single family homes to appeal their stormwater utility fee. If the City wishes to maintain the current appeal process, opportunities exist to improve the program through clearer application requirements, eligibility criteria, and guidance for determining fee reductions. 5.No examples were identified where communities provide stormwater utility fee reductions specifically for HOAs with Stormwater Maintenance Agreements. 6.Stormwater Maintenance Agreements are an effective tool for defining long-term maintenance responsibilities between the City and Homeowners Associations. Because these agreements are tailored to individual developments, concerns regarding maintenance obligations are best addressed through case-by-case review. If a property owner or HOA believes maintenance responsibilities are improperly assigned, the City should evaluate the agreement and determine whether modifications are warranted. Lake Elmo’s stormwater utility is founded on sound and widely accepted practices. Targeted updates to the ordinance and rate methodology could enhance transparency, improve alignment between charges and system demand, and support the long-term sustainability of the City’s stormwater program and MS4 compliance obligations. Implementation of a revised stormwater utility rate methodology would require completion of a professional study, updates to the City’s billing system, public outreach, and coordination with affected property owners. Should the City Council elect to amend the Stormwater Utility Ordinance, additional planning and implementation time would be necessary to ensure a smooth transition. FISCAL IMPACT: There is no immediate fiscal impact associated with receiving the report. If the City Council directs staff to pursue ordinance revisions or a revised rate methodology, a professional services proposal and associated costs would be presented for future consideration. OPTIONS: 1.Receive the report as presented and take no action at this time. 2.Receive the report and provide staff with directions on steps to take to continue investigating areas of revision to the Stormwater Ordinance. RECOMMENDATION: Staff recommends maintaining the current stormwater utility rate methodology as established in the ordinance. The existing structure is straightforward, widely accepted, administratively defensible, and generally equitable. Staff also requests feedback from the City Council regarding the current stormwater utility fee appeal process, including whether the process should be maintained, modified, or discontinued. ATTACHMENTS: 1.Current City Code regarding Stormwater Management Utility. 2.Stormwater Utility Code Equity Review. TO: Mayor and Councilmembers FROM: Clarissa Hadler, Finance Director Pete Tholen, Public Works Director RE:Additional Information regarding Stormwater Appeals DATE: July 7, 2026 Existing Stormwater Discounts; There are a total of 25 property owners receiving stormwater discounts. The total discounts for 2026 will be approximately $33,000. Min/Max/Averages; MIN MAX AVERAGE $ Discounts Per Property Owner $ 23.75 $ 8,315.39 $ 1,222.35 % Discount Per Property Owner 7%100%62% 71.6% of the total of all discounts are received by 3 property owners; Jesuit Retreat House, Carmelite Nuns, and Cimarron. Staff has been unable to determine when/why most discounts were applied in the first place. Some of these may be due to reasons other than the stormwater appeals process. We have found only a few approvals in past Council packets. There is a chance some of them are related to planning activities, like Conditional Use Permits. Process; We receive just a handful of stormwater appeals applications per year. Pete has to review each one, visit the property looking for rain barrels, rain gardens, etc., and write a Council report requesting either an approval or denial, spending roughly an hour on each one. Ryan then enters the discount into the utility billing software. (Tracking new ones will now be easier with the new software.) There is no process to review discounted property at a later date or requirement to reapply. There is no process or information available to gauge the effectiveness of the program. Staff does not believe the appeals process is achieving any significant reduction in stormwater run-off; certainly not in an amount that would warrant the time to manage the program and loss of revenue. 111 Washington Avenue South Suite 650 Minneapolis, MN 55401 Phone: (612) 416-0220 Bolton-Menk.com June 30, 2026 Mayor and City Council City of Lake Elmo, MN RE: Stormwater Utility Code Equity Review Lake Elmo, MN Project No.: 26X.143957.000 Executive Summary Lake Elmo’s stormwater utility ordinance provides a dedicated funding source for stormwater infrastructure, MS4 compliance, maintenance operations, and long-term system improvements. The utility functions as an enterprise fund and uses a land use-based charge to support maintenance, capital projects, water quality efforts, and credits for private stormwater management. The city’s current rate structure is straightforward, widely accepted, administratively defensible, and can be considered generally fair. The existing methodology relies on generalized classifications that may underrepresent differences among commercial, industrial, institutional, agricultural, and residential properties, which can limit the City’s ability to align charges with actual system demand. Lake Elmo’s Zoning Code and Comprehensive Plan identify additional land use distinctions that are not fully captured in the current ordinance, suggesting that future updates should better integrate local development patterns and parcel-level variability. Based on this review, the following findings are included: 1. Lake Elmo has a vast array of different land uses and property classifica>ons, and it can be difficult to represent all residen>al proper>es within one category. Currently, all single-family residen>al proper>es are charged as a single unit which is a widely accepted approach to assigning stormwater u>lity fees. 2. Opportunities exist to improve proportionality within the stormwater utility rate structure. Incorporating a representative impervious surface analysis for various land use categories could better align charges with runoff-generating characteristics while maintaining a relatively simple and understandable fee structure. 3. Lake Elmo currently allows single family homes to appeal their stormwater utility fee. If the City wishes to maintain the current appeal process, opportunities exist to improve the program through clearer application requirements, eligibility criteria, and guidance for determining fee reductions. 4. Stormwater Maintenance Agreements are an effective tool for defining long-term maintenance responsibilities between the City and Homeowners Associations. Because these agreements are tailored to individual developments, concerns regarding maintenance obligations are best addressed through case-by-case review. If a property owner or HOA believes maintenance responsibilities are improperly assigned, the City should evaluate the agreement and determine whether modifications are warranted. Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 2 Lake Elmo’s stormwater utility is founded on sound and widely accepted practices. Targeted updates to the ordinance and rate methodology could enhance transparency, improve alignment between charges and system demand, and support the long-term sustainability of the City’s stormwater program and MS4 compliance obligations. Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 3 Stormwater Utility Background Introduction This report presents a technical evaluation and summary of the City of Lake Elmo’s Stormwater Management Utility Ordinance (Chapter 5.16). The ordinance establishes the administrative, financial, and regulatory framework governing the City’s municipal stormwater system. The system is implemented as a public utility pursuant to Minnesota Statutes § 444.075, enabling the City to collect revenue and manage stormwater infrastructure and services in a manner analogous to other municipal utilities. Stormwater utilities provide an alternative and dedicated source of revenue for communities to fund stormwater management. The ordinance is structured to support both the operation of existing infrastructure and the long-term planning and implementation of improvements necessary to maintain system performance and protect downstream water resources. Funding may also support Municipal Separate Storm Sewer (MS4) program management, staffing, maintenance equipment, bond payments, and other stormwater related Capital Improvement Plan (CIP) items such as storm sewer construction, channel rehabilitation, lift stations, etc. Furthermore, it may support other public education programs and staff training required by the MS4 permit. Utility Framework and Program Funding The City operates its stormwater system as a dedicated enterprise fund, with revenues derived from user fees assigned to properties throughout the community. These revenues are intended to support a broad range of activities including system planning, maintenance of drainage infrastructure, capital improvements, and water quality initiatives. Specifically, the ordinance identifies eligible expenditures such as maintenance of ditches, culverts, storm sewers, and ponds, in addition to planning activities, equipment, inventory development, and practices that improve water quality, including vegetation management. This structure reflects a utility-based funding approach where costs are distributed across benefited properties rather than funded solely through general taxation. Rate Methodology and Fee Determination The ordinance establishes a rate methodology based on a variable termed the Utility Charge (UC), which is determined periodically by City Council action. The UC serves as the base unit for calculating stormwater fees across different property classes, with the ordinance defining specific multipliers and calculation methods that vary by land use. Table 1 summarizes the utility factor calculation. Table 1: Utility equations for various land uses (Chapter 5.16, Stormwater Management Utility, Adopted 11/03/2021) Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 4 Residential properties are charged on a per-lot basis using a multiplier of one UC per lot. In contrast, non-residential land uses, including commercial, industrial, and institutional properties, are charged on a per-acre basis using Utility Factors (UF) intended to approximate relative stormwater runoff contribution. For example, commercial and industrial properties are assessed at 3.08 times the UC per acre, while institutional uses such as schools and churches are assessed at a lower, but still elevated, rate of 1.12 times the UC per acre. Open spaces like vacant non-farmed land and golf courses are assigned a rate indicating they contribute low levels of runoff. Agricultural land is assessed using a modified acreage-based formula that distributes the UC across 40-acre increments. Credits and Fee Adjustments Property owners may receive fee reductions where they implement practices that retain or reuse stormwater in a manner that minimizes impacts on the public drainage system or waters of the state. Eligible practices include structural and non-structural Best Management Practices (BMP) such as rain barrels, rain gardens, retention ponds, swales, and riparian plantings. Credits are awarded based on effectiveness and are determined by the City Council following review and recommendation by administrative and public works staff. The ordinance establishes a general credit range between 25 percent and 75 percent of the assessed fee, depending on the degree of runoff reduction achieved. In cases where practices are constructed within public right-of-way areas and maintained by adjacent property owners, the ordinance allows for ongoing credits, typically not exceeding 50 percent of the annual fee. Additionally, a separate credit provision is included for financial hardship, allowing reductions of up to 75 percent based on the property owner’s ability to pay. Exemptions The ordinance identifies specific land uses that are exempt from the stormwater utility fee. These exemptions include public rights-of-way, parks, lakes, and railroad property. These exemptions reflect the City’s determination that such properties either do not impose a typical fee-recoverable burden on the system or are otherwise publicly managed components of the broader drainage network. Assessment of Current Stormwater Utility Methodology The City’s current program is rooted in a comparison of residential impervious values to other land use types. While this method has similarities to many other stormwater utility charge methodologies, and impervious values are directly correlated to runoff volumes, Lake Elmo’s focuses on a representative subset of land use types. Lake Elmo has an extremely varied collection of land uses and types across the city which creates a challenge from this perspective. That is, the UC calculation table in the ordinance does not necessarily describe all land uses in Lake Elmo and does not capture the variability within each land use category. Assessment of Hydrologic Curve Numbers One method for calculating stormwater runoff is the use of “Curve Numbers”, which capture land use, impervious coverage, and soil type in a single empirical value, which is then used in a calculation to quantify runoff volume. For reference, Table 2 shows the nationally accepted assumed impervious values. When using “Residential, Medium Density” as a surrogate for the base line UC, the impervious area ratios can be calculated. Table 2 is purely to illustrate the potential variability of utility factors when assumed impervious values are used as a blanket value for all similar parcels. Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 5 Table 2: Summary of assumed impervious values from USDA Urban Hydrology for Small Watersheds - TR-55 hydrology and hydraulic calculations. Land Use Category Assumed Impervious % Ratio to Residential Impervious Residential, Medium Density, 1/4 ac Lots 38% BASE Residential, High Density, 1/8 ac Lots 65% 1.71 Residential, Medium-Low Density, 1/2 ac Lots 25% 0.66 Residential, Low Density, 1 ac Lots 20% 0.53 Commercial 85% 2.24 Industrial 72% 1.89 Preliminary Measurement of Impervious Areas A preliminary assessment of actual impervious areas on a variety of land uses was conducted to verify and substantiate the city’s current utility factor methodology. This was done by measuring actual impervious surface areas on several properties throughout the city. This smaller subset of data shows the potential variability in impervious areas that exist amongst the different land uses. Table 3 below summarizes the assessment of current land use and the following describe some interesting takeaways. • On average, the low density residential parcels have the largest lot areas and the largest corresponding average impervious area. However, they have the lowest average percent impervious. The opposite is true for high density residential (low per parcel impervious, high percent impervious). • Institutional impervious averages and percent total impervious were generally low relative to the total parcel area indicating that much of those large sites is green space. • The average commercial and industrial impervious areas followed the hydrologic curve number assessment, except that commercial areas may have lower average impervious than industrial areas in Lake Elmo. • Ratios of average impervious area for these land uses vary widely and do not correlate to the city’s current utility factor approach. However, when looking at ratios of average percent impervious, the utility factors are within reason with the current ordinance. Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 6 Table 3: Summary of preliminary assessment of impervious areas for existing land uses. Land Use Assessed Number of Parcels Assessed Average Impervious Area (sq. ft) Average Percent Impervious Ratio Against Average Residential Area (sq. ft) Ratio Against Average Residential Area (%) Residential (high density) 8 4,519 39% Residential (med density) 6 8,565 18% Residential (low density) 6 11,486 10% Residential (Average All) 20 7,823 24% Institutional 4 264,508 37% 33.8 1.5 Industrial 8 29,973 86% 3.8 3.6 Commercial 20 138,312 68% 17.7 2.8 Zoning Code and Comprehensive Plan Land Use The City of Lake Elmo’s zoning code (chapter 105) includes provisions for various land uses and zoning districts. Table 4 represents Table 8-1: Zoning Districts from Article X of Chapter 105. Furthermore, Table 5 represents Table 3-1: Existing Land Use from the city’s 2040 Comprehensive Plan (Land Use Chapter, page 3-4). These tables represent the additional variability in how the city classifies its land use, and in turn, a potential for how a UC calculation may be interpreted. The 2040 Comprehensive Plan (Table 3-2) describes additional options for rural residential, mixed uses, village areas, and business districts that may result in variable impervious coverages. Table 4: Chapter 105, City Code, Table 8-1, Zoning Districts. Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 7 Table 5: 2040 Comprehensive Plan, Table 3-1, Existing Land Use. Options for Stormwater Utility Rate Charges There are several accepted approaches for calculating stormwater utility charges, each offering different levels of simplicity, equity, and administrative effort. Lake Elmo's current rate structure is straightforward, widely used, and administratively defensible. However, because it relies on broad land use classifications, it may not fully reflect differences in impervious surfaces and stormwater runoff among property types. The following options could improve the relationship between utility charges and stormwater system demand. Depending on the methodology selected, the City may be able to redistribute charges among property types and potentially increase overall utility revenue with minimal impact to residential properties. The financial impacts of any change would require a comprehensive study to determine. 1. Expanded Residential Equivalency Factors (REF) Lake Elmo currently leverages a version of the REF system, but is limited to a specific subset of land use categories. In this system, impervious areas would be measured from a sample of parcels within each land use category and/or zoning district and averaged to get a better representative data set and reduce the potential variability within each land use type. The rate is then calculated by either leveraging an average impervious area for the base line residential land use category, or based on the size of the parcel itself. While easier to calculate than other directly measured impervious area methodologies and simple to update, it is not as accurate as other methods. Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 8 While a simplified approach to assigning a single REF to residential properties is widely accepted and like the approach already adopted by Lake Elmo, an additional expansion of this structure would be to include a tiered residential structure that further refines the residential land use categories. The city already has a different calculation for manufactured home parks but could expand that to other residential categories and/or village classifications. 2. Direct Impervious Area Method This method physically measures the actual impervious area of each parcel in the city and charges a rate based on each square foot (or acre) of impervious area. With the advancement of remote sensing and arial photography resolution, GIS-based assessments work best for this calculation because it can be automated and replicated when new arial photos are collected. This method may be the most detailed but is contingent upon the accuracy of the base data and can be burdensome to maintain. 3. Equivalent Residential Unit (ERU) Similar to the direct impervious area method, the ERU method delineates impervious areas, but only for non-residential parcels. This reduces the upfront investment in impervious area calculations but still provides actual impervious area values. In this case, impervious areas for a subset of residential parcels would be delineated and averaged to calculate a single ERU. That is, if the average impervious area for single-family homes in Lake Elmo is 3,000 square feet, then one ERU is equal to 3,000 square feet of impervious area. For a commercial property with 12,000 square feet of impervious area, that parcel is charged 12,000 / 3,000 = 4 times that of an average residential property. While less contingent upon data accuracy when compared to the direct impervious area method, the ERU method can be burdensome to maintain. No single methodology is inherently "best." The preferred approach depends on the City's goals related to equity, simplicity, administrative effort, and revenue stability. Stormwater Utility Fee Appeal Process The City of Lake Elmo’s stormwater utility ordinance was developed under the guidance of Minnesota Statute § 444.075, which allows municipalities to establish stormwater fees by ordinance or resolution under the city’s statutory authority. This allows cities to establish dedicated stormwater funds through just and reasonable charges based on accepted methodology. Within the statute, where is no requirement to allow for appeal of the fee and it is not a requirement of a municipality to allow for this. The ability to appeal is entirely up to the municipality and the process is codified through the local ordinance. Lake Elmo currently allows appeals by which a property owner contacts the city with their request, it is reviewed by the Public Works Director and the Director has authority to reject the request or apply a credit based on their review, which is capped at a reduction of 50% of the fee. Lake Elmo does provide some criteria for reducing the fee, including installation of rain gardens, rain barrels, or infiltration basins, however the ordinance does not include solid rationale to calculate a percentage reduction. There are also no requirements to maintain the credit, such as annual inspections or re-application. Research was conducted to review what other metro area cities have for an appeal process. It was Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 9 found that the cities reviewed have a process like Lake Elmo’s and lack guidance or criteria for reductions or credits. The most commonly observed language in the stormwater utility ordinances reviewed is that “a property owner can request that their fee be recomputed”. It was also discovered that some municipalities do not allow properties to appeal the stormwater utility fee or offer a credit or fee reduction. An application form could be developed to formally memorialize appeals, and updates to the process including documentation and inspections could be implemented. However, it is important to consider the staff time associated with these changes. While a credit system can incentivize individual properties, it is important to remember that stormwater is still discharged into the City’s infrastructure. Reducing the local risk to the City’s stormwater system may not reduce the BMP maintenance burden in all areas, the number of staff required to manage the MS4, regional flooding, or equipment maintenance. Therefore, if a rebate system is used more widespread, it may reduce the city’s ability to generate enough revenue to manage its stormwater system wholistically. Stormwater Maintenance Agreements in Residential Homeowner Associations As part of this review, Stormwater Maintenance Agreements associated with residential Homeowners Associations (HOAs) were evaluated to determine whether maintenance obligations assigned to private property owners may overlap with responsibilities typically associated with public stormwater infrastructure. A review of stormwater utility programs and ordinances from other communities was also conducted to identify potential credit programs or formal review processes for these situations. No examples were identified where communities provide stormwater utility fee reductions specifically for HOAs with Stormwater Maintenance Agreements. Lake Elmo contains a diverse range of residential developments, each with unique stormwater infrastructure and maintenance arrangements. As a result, Stormwater Maintenance Agreements are tailored to the specific conditions of each development. Given this variability, establishing a standardized credit program for HOAs would be difficult to administer and may not equitably account for the unique circumstances of individual neighborhoods. If a property owner or HOA believes a Stormwater Maintenance Agreement assigns responsibility for infrastructure that should be maintained by the City, the appropriate course of action is to request a review of the agreement. The City can then evaluate the specific circumstances and determine whether the maintenance responsibilities remain appropriate or whether amendments should be considered. Stormwater Maintenance Agreements remain an effective tool for defining maintenance responsibilities between the City and HOAs. Because each agreement is development-specific, concerns regarding maintenance obligations are best addressed through case-by-case review rather than through a generalized stormwater utility fee reduction program. Findings and Conclusions The City of Lake Elmo’s stormwater utility ordinance establishes a comprehensive system for funding and managing municipal stormwater infrastructure. The ordinance integrates a land use-based rate Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 10 methodology, incentive-based credits for on-site management for residential properties, and district- based financing mechanisms for regional infrastructure. From a technical perspective, the framework reflects a balance between administrative simplicity and functional equity, using generalized land use classifications to approximate runoff contributions while incorporating targeted adjustments and credits to encourage improved stormwater performance at the parcel level. The inclusion of stormwater area districts further enables the city to align infrastructure financing with development activity and watershed-level regulatory requirements. The following are findings and conclusions of this review: 1. Using a single unit standard for assignment of stormwater utility fees to residential properties is a straightforward and widely accepted approach, legally defensible, and can be considered fair, which is how the current ordinance is structured. However, fees can be applied in many ways with regards to stormwater management. Larger lots generally have more impervious surface coverage, which is directly proportional to stormwater runoff. The City of Lake Elmo has a vast array of different land uses and property classifications, and it can be difficult to represent all single-family residential properties within one category. Additionally, the City’s Comprehensive Plan and Zoning Ordinances define additional variability in its land use categories. Equity could be improved by refinement of the rate methodology to better represent actual impervious conditions through a more data driven impervious area approach. 2. While the city’s current structure uses Utility Factors that help balance generalized land use, (i.e. commercial and industrial areas have a higher Utility Factor than residential or open spaces) even commercial and industrial areas vary in the amount of impervious surface they may have. Delineation of impervious areas from a representative data set of parcels within each land use category and/or zoning district would reduce the potential variability within each land use type and strengthen equity. Under a more data driven system the rate can be calculated by leveraging an average impervious area for the base line residential land use category. 3. The ordinance addresses agricultural, vacant land, and open space uses, such as golf courses, with lowered Utility Factors, as these areas have very little to no impervious coverage. If there is a change to the ordinance a nuanced framework should be considered for these land uses, as while they contribute stormwater to the system, it will be significantly less than comparable developed areas. 4. The city has an appeals process that offers rebates to the stormwater utility fee. If the stormwater utility fee appeal process remains in place, it could be strengthened through greater transparency and consistency. Establishing a formal application process, clear evaluation criteria, documentation requirements, and periodic verification of approved stormwater practices would improve administration of the program while helping ensure adequate funding remains available for system operations, maintenance, and regulatory compliance. 5. Stormwater Maintenance Agreements remain an effective tool for defining long-term maintenance responsibilities between the City and Homeowners Associations. Because these agreements are tailored to individual developments, concerns regarding maintenance obligations are best addressed through case-by-case review. If a property owner or HOA Title: Stormwater Utility Research and Recommendations Date: 06/30/2026 Page: 11 believes maintenance responsibilities are improperly assigned, the City should evaluate the agreement and determine whether modifications are warranted. Implementation of a revised stormwater utility rate methodology would require completion of a professional study, updates to the City’s billing system, public outreach, and coordination with affected property owners. Should the City Council elect to amend the Stormwater Utility Ordinance, additional planning and implementation time would be necessary to ensure a smooth transition. If there are any questions about the information in this report, please feel free to contact us. Sincerely, Bolton & Menk, Inc. Nate Stanley, PE Timothy J. Olson, PE City Engineer Water Resources Engineer Stormwater Utility Code Equity Review Stormwater Utility Code Equity Review City Council Meeting | July 7, 2026 Stormwater Utility Code Equity Review Contents Contents 1. Summary of Existing Ordinance 2. Assessment of Current Methodology 3. Options for Stormwater Utility Rate Charges 4. Stormwater Utility Fee Appeal Process 5. Stormwater Maintenance Agreements in HOA 6. Findings and Conclusions 7. Recommendations 8. Questions and Discussion Stormwater Utility Code Equity Review Summary of Existing Ordinance Summary of Existing Ordinance •Developed under the guidance of MN Stat 444.075. •Provides dedicated source of funding for stormwater maintenance, system management and improvements. •Existing rate methodology provides base rate for residential properties and uses Utility Factor multipliers across different property types and land uses. •Ordinance allows for appeal of the fee and specifies fee reductions for residents who install stormwater BMPs. •Exempt land uses are specified, including public ROW, parks, lakes and RR property. Stormwater Utility Code Equity Review Assessment of Current Methodology Assessment of Current Methodology •The current methodology of assigning residential on a unit basis is consistent with many other communities. •The existing rate structure is straightforward, widely accepted, administratively defensible, and can be considered generally fair. •Lake Elmo has a wide array of residential housing types in several zoning districts that can be difficult to represent all residential properties in one category. Stormwater Utility Code Equity Review Assessment of Current Methodology Assessment of Current Methodology •Current program uses a comparison of residential impervious values to other land use types. Residential properties are considered a single unit regardless of lot size or land classification. •Lake Elmo has a widely varied collection of land uses, and the calculation categories do not always exactly match. This can be a challenge. Stormwater Utility Code Equity Review Assessment of Current Methodology – Curve Numbers Assessment of Current Methodology –Curve Numbers •Evaluation of Utility Factors in the equations by using Curve Numbers was completed. •Curve Numbers impact runoff and are primarily based on impervious coverage and soils characteristics. •For example, a Curve Number for a parking lot is 95, which indicates high runoff. While a Curve Number for an open meadow could be 50, indicating more infiltration and lower runoff rate. Stormwater Utility Code Equity Review Assessment of Current Methodology – Curve Numbers Assessment of Current Methodology –Curve Numbers •Using a baseline of Medium Density Residential as the standard residential type for Lake Elmo, the results of the Curve Number analysis show there can be wide variability of impervious values. •The Ratio to Residential Impervious in the table below represents the multiplier (similar to Utility Factor). Land Use Category Assumed Impervious % Ratio to Residential Impervious Residential, Medium Density, 1/4 ac Lots 38%BASE Residential, High Density, 1/8 ac Lots 65%1.71 Residential, Medium-Low Density, 1/2 ac Lots 25%0.66 Residential, Low Density, 1 ac Lots 20%0.53 Commercial 85%2.24 Industrial 72%1.89 Stormwater Utility Code Equity Review Assessment of Current Methodology – Measurement of Impervious Assessment of Current Methodology –Measurement of Impervious •Evaluation of Utility Factors in the equations was completed by measuring actual impervious areas. •GIS computation of varying land uses was completed across residential, institutional, industrial and commercial properties. •The number of properties measured was just a “spot-check” and is not enough to constitute a representative sample across the community. Stormwater Utility Code Equity Review Commercial Property Example: Commercial Property Example: Stormwater Utility Code Equity Review Institutional Property Example: Institutional Property Example: Stormwater Utility Code Equity Review Low Density Residential (2.5 Acres): Low Density Residential (2.5 Acres): Stormwater Utility Code Equity Review Low Density Residential (1 Acre): Low Density Residential (1 Acre): Medium Density Residential (1/4 Acre): Stormwater Utility Code Equity Review High Density Residential: High Density Residential: Stormwater Utility Code Equity Review Assessment of Current Methodology – Measurement of Impervious Assessment of Current Methodology –Measurement of Impervious •Using the Residential (Average All) as the baseline the results of the analysis vary based on whether impervious area versus impervious percent coverage are compared. •The ratio comparison of impervious percent generally aligns with the multiplier (Utility Factors) in the ordinance. Land Use Assessed Number of Parcels Assessed Average Impervious Area (sq. ft) Average Percent Impervious Ratio Against Average Residential Area (sq. ft) Ratio Against Average Residential Area (%) Residential (high density)8 4,519 39% Residential (med density)6 8,565 18% Residential (low density)6 11,486 10% Residential (Average All)20 7,823 24% Institutional 4 264,508 37%33.8 1.5 Industrial 8 29,973 86%3.8 3.6 Commercial 20 138,312 68%17.7 2.8 Stormwater Utility Code Equity Review Options for Stormwater Utility Rate Charges: Options for Stormwater Utility Rate Charges: •Opportunities exist to improve proportionality within the stormwater utility rate structure. •Implementation of each option presented will take time and varying degrees of cost to develop. •Maintenance of each option is an important consideration as the city grows and develops. Stormwater Utility Code Equity Review Options for Stormwater Utility Rate Charges – Expanded Residential Equivalency Factor (REF) Options for Stormwater Utility Rate Charges –Expanded Residential Equivalency Factor (REF) •Current city ordinance leverages a version of REF system. •Additional impervious measurement needed to obtain a baseline for average property types based on land use classifications across the city. •An expansion could include a tiered system applied to land use categories. •Develops Utility Factors for each category in the city. •High-level estimate of cost and time it would take to implement is estimated $25,000 –$35,000; 2 –4 months. Description: Impervious directly measured from a sample set for each land use, REF created based on ratio amongst land uses Stormwater Utility Code Equity Review Options for Stormwater Utility Rate Charges – Direct Impervious Area Method Options for Stormwater Utility Rate Charges –Direct Impervious Area Method •Physically measures impervious area of every parcel in the city. •Rate is charged based on area of impervious. •Most detailed method, but also the most burdensome system to maintain. •Requires delineation of all new properties coming on-line. •High-level estimate of cost and time it would take to implement is estimated $55,000 –$65,000; 5 –7 months. Description: Impervious directly measured for every parcel and land use, utility charged based on each square foot of impervious Stormwater Utility Code Equity Review Options for Stormwater Utility Rate Charges – Equivalent Residential Unit (ERU) Options for Stormwater Utility Rate Charges –Equivalent Residential Unit (ERU) •Additional impervious measurement needed of single family residential to establish baseline ERU. •All single-family residential parcels are 1 ERU. •Physically measures impervious area of each non-residential parcel. •Rate is charged based impervious area/ERU. •Very widely used methodology. •High-level estimate of cost and time it would take to implement is estimated $40,000 –$50,000; 4 –6 months. Description: Impervious directly measured for every non-residential parcel, compared to base line residential impervious area Stormwater Utility Code Equity Review Options for Stormwater Utility Rate Charges – Comparison Options for Stormwater Utility Rate Charges –Comparison Time to Create Cost to Create Cost to Maintain Accuracy Defense Risk Equity Direct Impervious Area Method Equivalent Residential Unit (ERU) Residential Equivalency Factor (REF) Stormwater Utility Code Equity Review Options for Stormwater Utility Rate Charges: Options for Stormwater Utility Rate Charges: •Staff recommends maintaining the current stormwater utility rate methodology as established in the ordinance. •The existing structure is straightforward, widely accepted, administratively defensible, and generally equitable. Stormwater Utility Code Equity Review Stormwater Utility Fee Appeal Process Stormwater Utility Fee Appeal Process •MN Statute 444.075 provides guidance for municipalities to establish stormwater fees by ordinance. •There is no requirement in the Statute for municipalities to allow appeals. The city can establish a process by ordinance. Appeals are currently allowed by Lake Elmo for single family homes. •Credit system can incentivize individual properties, but they are still contributing to the system. Widespread rebates may become detrimental. Stormwater Utility Code Equity Review Stormwater Utility Fee Appeal Process Stormwater Utility Fee Appeal Process •Does the city want to maintain the existing appeal process? Not all municipalities entertain credits or reduction, especially when fee is assigned based on a unit basis. •Opportunities exist to improve the program through clearer application requirements, eligibility criteria, and guidance for determining fee reductions. •The process could include development of annual requirements to maintain the credit such as re-application, maintenance records, and inspections. •Staff time is important to consider if changes are considered. Stormwater Utility Code Equity Review Stormwater Maintenance Agreements in HOA Stormwater Maintenance Agreements in HOA •Research completed regarding how to address instances of Stormwater Maintenance Agreements for HOA overlapping with typical public maintenance. •No allowances for fee reductions or review mechanisms were discovered in other city codes researched. •Lake Elmo has a wide variety of residential subdivisions types and agreements are tailored and individualized. This makes developing a credit system extremely difficult to administer. Stormwater Utility Code Equity Review Stormwater Maintenance Agreements in HOA Stormwater Maintenance Agreements in HOA •Stormwater Maintenance Agreements remain an effective tool for defining maintenance responsibilities between the City and HOAs. •Agreements are tailored to individual developments and concerns regarding maintenance obligations are best addressed through case-by-case review. •If a property owner or HOA believes maintenance responsibilities are improperly assigned, the City should evaluate the agreement and determine whether modifications are warranted. Stormwater Utility Code Equity Review Findings and Conclusions Findings and Conclusions •Lake Elmo has a vast array of different land uses and property classifications, making it difficult to represent all single-family residential properties within one category. Currently, all single-family residential properties are charged as a single unit which is a widely accepted approach to assigning stormwater utility fees. •The ordinance currently uses Utility Factors (UFs) to differentiate stormwater utility charges among non-residential land uses. A high-level review suggests the existing UFs are reasonable, although a more data-driven methodology could further refine the calculations. Stormwater Utility Code Equity Review Findings and Conclusions Findings and Conclusions •The City offers rebates through an appeals process. If this system is maintained, opportunities exist to improve the program through clearer application requirements, eligibility criteria, and guidance for determining fee reductions . •Stormwater Maintenance Agreements are an effective tool for defining long-term maintenance responsibilities between the City and Homeowners Associations . •Concerns regarding maintenance obligations are best addressed through case-by - case review. •Opportunities exist to improve proportionality within the stormwater utility rate structure, but changes will require completion of a professional study, updates to the City’s systems and practices now and into the future. Stormwater Utility Code Equity Review Recommendations Recommendations •Staff recommends maintaining the current stormwater utility rate methodology as established in the ordinance. The existing structure is straightforward, widely accepted, administratively defensible, and generally equitable. Stormwater Utility Code Equity Review Questions and Discussion Questions and Discussion •Staff is requesting feedback from the City Council regarding the current stormwater utility fee appeal process, including whether the process should be maintained, modified, or discontinued. Date Type Due date for packet Order Agenda Section Agenda item 7/14/2026 CC Workshop 7/7/26 Discussion Old City Hall Discussion Street parking Royal Golf Discussion Draft 2027 - 2036 Capital Improvement Program Discussion Capitalization Policy Discussion Strategic Financial Plan - Initial Review of Models, Assumptions, and Strategic Financial Goals Closed Session before meeting Sale of Fire Station and Parks Building (tentative) 7/21/2026 CC Meeting 7/14/26 Consent Agenda 2nd Quarter Dashboards and Financials Regular Agenda Legislative Representation Proposal Consent Agenda Fund Transfers Discussion Sports Complex/76 acre Consultant Discussion Regular Agenda Social host ordinance Regualr Agenda Order Feasibility Report for 2027 Collector Road Reclaim Project Regular Agenda Limerick Village Preliminary Plat and PUD Regular Agenda 2nd Quarter Goals Update Closed Session before meeting Ryan Companies offer Closed Session  Discuss sale of 11052 34TH ST N 8/5/2026 CC Meeting 7/30/26 Consent Agenda 180 Acres AUAR Approval (tentative) Consent Agenda Sunfish Deer Hunting Consent Agenda PW Snow Groomer Purchase Regular Agenda MYP Zoning Text Amendment and Conditional Use Permit Regular Agenda 180 Acres Broker Selection 8/11/2026 CC Workshop 8/4/26 Discussion Draft 2027 Budget & Levy Discussion CIP F-012 Ladder 1 Replacement Approval Community Engagement Results - City 180 8/18/2026 CC Meeting 8/11/26 Regualr Agenda CIP F-012 Ladder 1 Replacement Approval 9/1/2026 CC Meeting 8/25/26 9/8/2026 CC Workshop 9/1/26 Annual Water Updates Fury Site 9/15/2026 CC Meeting 9/8/26 Regular Agenda 2027 Preliminary Levy Future Council Agenda Items *Please note: This list is subject to change* Consent Agenda Appoint Election Judges 10/6/2026 CC Meeting 9/29/26 Consent Agenda 3rd Quarter Dashboards and Financials Regular Agenda 3rd Quarter Goals Update 10/13/2026 CC Workshop 10/6/26 10/20/2026 CC Meeting 10/13/26 Regular Agenda 3rd Quarter Financials and Dashboard 11/4/2026 CC Meeting Regular Agenda Bonding 11/10/2026 Special Meeting Canvass Election Results 11/10/2026 CC Workshop Employee Policies Updates 11/17/2026 CC Meeting Regular Agenda 12/1/2026 CC Meeting Regular Agenda 12/8/2026 CC Workshop Obstructions in ROW 12/15/2026 CC Meeting