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Tity of <br /> <br />River <br /> <br />MEMORANDUM <br /> <br />Item #4. <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 />July 24, 2000 <br /> <br />Financial Consultant Presentation by Springsted, Inc. <br /> <br />Two weeks ago, Ehlers and Associates, Inc., made a presentation to the City <br />Council regarding the experience and expertise at this firm. <br /> <br />At this meeting, Springsted, Inc., will make a presentation to the City <br />Council regarding its experience and expertise. It is anticipated that Dave <br />MacGillivray, Allan Erickson, and Kathy Aho from Springsted, Inc., will be in <br />attendance for this presentation. The city has had a long ongoing relationship <br />with Springsted as its bond consultant. <br /> <br />The citfs financial needs have changed over the years, and currently staff <br />sees a need for financial services beyond bonding. In general, the city needs <br />to develop a financial strategic plan and help from the consultants in its <br />development and implementation. To a large extent, the implementation <br />relates to working with the City Council in establishing priorities in <br />balancing the available financial resources against needed projects and <br />programs. The decisions by the City Council on priorities needs to relate both <br />to the day to day operating budget and to the long term capital improvement <br />program. The capital needs, such as buildings or street programs, are very <br />visible and somewhat easy to identify. On the other hand, operating budget <br />issues are sometimes more difficult to identify and we need to make sure the <br />appropriate priority decisions are made regarding revenues (i.e. mainly <br />taxes) and expenditures (i.e. mainly personnel and equipment). <br /> <br />Attached for your review is some material prepared by and about Springsted <br />Inc. <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 />