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