5.7. SR 06-12-2000Oity of
River
M£MORANDUM
Item #5.7.
TO:
FROM:
DATE:
SUBJECT:
Mayor & City Council
Pat Klaers, City Administrator
June 12, 2000
Financial Consultant Proposals
The city has had an ongoing (15+ years) relationship with Springsted, Inc. as
our bond consultants. Recently the city has been approached by Ehlers and
Associates, Inc. regarding our bonding and financial consulting needs. Staff
knows and is comfortable with the expertise of a number of employees at the
Ehlers firm and, in the past, has considered requesting proposals for services
from this firm.
The city's financial needs are changing and staff sees a need for more
financial services beyond just bonding services. Some of these needs have
previously been discussed with the City Council and in general relate to an
overall financial strategic plan for the city that includes capital
improvements, operating budget policies, fund balance policies, assessment
and pavement replacement programs, etc. In addition to the expertise at each
financial firm, staff needs to consider the availability and level of service that
the city would receive from each firm. The city needs to go beyond bonding
services and start receiving good, timely advice on an expanded array of
financial issues.
To help us achieve this goal, staff has requested Springsted, Inc. and Ehlers
and Associates, Inc. to provide us with a proposal for services and to make a
presentation to the City Council. Ehlers is scheduled for the July 10 City
Council meeting and Springsted is scheduled for the July 24 City Council
meeting.
13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425