6.5. SR 07-10-2000iver
M£MORANDLIM
Item # 6.5.
TO:
FROM:
DATE:
SUBJECT:
Mayor and Council
Pat Klaers, City Administrator
July 10, 2000
Financial Consultant Presentation
Ehlers & Associates,Inc. - Rusty Fifield
As previously discussed with City Council at a number of meetings, the city
has been approached by Ehlers and Associates, Inc. regarding our bonding and
financial consulting needs. Staff is comfortable with the expertise at this firm
and knows a number of its employees.
The city's financial needs are changing and staff sees a need for more financial
services beyond just bonding expertise. A number of these needs have been
previously reviewed with the City Council and to a large extent it relates to a
matter of priorities in balancing the available limited financial resources
against a seemingly unlimited list of needs/wants. This is true both on a long-
term capital improvement program basis and on a day-to-day operating budget
basis.
In general, the city needs a financial strategic plan put together and
implemented. The development of such a plan is best lead by an outside
consultant, which has the expertise, experience, and time to guide the
development of this financial planning tool. The city needs to go beyond
bonding services and start obtaining good timely financial advise on an
expanded array of city issues.
Rusty Fifield will lead the Ehlers & Associates, Inc. team in its presentation
and proposal for using this firm as the city's financial consultant.
13065 Orono Parkway · P.O. Box 490 · Elk Rivet', MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425