DEPARTMENT: Finance
FILE TYPE: Regular Information
TITLE
title
Discussion Of Long-Term Financial Management And Capital Financing Plan
end
PURPOSE/ACTION REQUESTED
Discuss the long-term financial management and capital financing plan developed by Ehlers.
SUMMARY
Following strategic planning in 2023, the Dakota County Board of Commissioners established several strategic priorities for 2024. One of those priorities is related to determining future capital finance strategies. Given this priority, Dakota County issued a Request for Proposals (RFP) on January 19, 2024 for financial advisory services. Four proposals were received and reviewed by staff in the Enterprise Finance and Information Services Division.
Services and deliverables include capital budgeting and financing strategies; creating a financial plan for the County; advising and managing short and long-term debt programs; multi-year capital budget financing, investment and bonding portfolio strategies; continuing disclosure services; debt issuance consulting; arbitrage-rebate management and other financial advisory services.
Dakota County entered into a contract with Ehlers on March 22, 2024 to produce a 10-year, long-term financial plan. The plan includes the property tax supported funds and integrates current and future operating costs, capital improvement plans, changes in tax base, and previous Board guidance. Ehlers assessed the needs and fund balances of each fund in order to provide potential capital financing strategies and identify potential property tax impacts. The draft plan will be presented at the meeting.
RECOMMENDATION
recommendation
Information only; no action requested.
end
EXPLANATION OF FISCAL/FTE IMPACTS
☒ None ☐ Current budget ☐ Other
☐ Amendment Requested ☐ New FTE(s) requested
RESOLUTION
body
Information only; no action requested.
end
PREVIOUS BOARD ACTION
24-137; 03/12/24
ATTACHMENTS
Attachment: None
BOARD GOALS
☐ A Great Place to Live ☐ A Healthy Environment
☐ A Successful Place for Business and Jobs ☒ Excellence in Public Service
CONTACT
Department Head: Paul Sikorski
Author: Leng Vang