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62 <br /> EHLERS <br /> & ASSOCIATES INC <br /> o To: Mike Mornson,City Manager <br /> From: Jim Prosser <br /> UJ Date: April 15, 2002 <br /> G Subject: Key Financial Strategies Session 3 <br /> Attached are the materials related to Key Financial Strategies (KFS) Session 3. This session <br /> will focus on the following issues: <br /> 1. Review of the budget forecast worksheet. The worksheet will focus primarily on <br /> projections of current level of operations and capital needs. This spreadsheet will <br /> forecast a"gap"between revenues and potential expenditures. It has been prepared <br /> based on input from your staff. It is most important to review the information to <br /> determine that potential needs have been identified in the projections. <br /> The basis of KFS is to anticipate needs and begin to develop strategies to permit <br /> funding needs on a timely basis. As part of this process the City Council will be <br /> encouraged to "brainstorm" additional needs for future years consideration. <br /> 2. Review KFS options. The KFS options include strategies, resources and outcomes. <br /> An initial analysis of KFS options has been prepared based in input from your staff. <br /> These options will be reviewed with the Council. Again the Council will be <br /> encouraged to add other options for consideration. <br /> Based on the input received at this session a specific set of strategies and timetable will be <br /> developed for KFS Session 4. These strategies will be directed at enabling the City to <br /> forecast future operating and capital needs and develop practical strategies to meet those <br /> needs on an annual basis. <br /> LEADERS IN PUBLIC FINANCE <br /> t� <br /> .............._...............-...._........ <br /> ---------..-------- <br /> 3060 Centre Pointe Drive Phone: 651 697-8503 Fax: 651-697-8555 <br /> Roseville, MN 55113-1105 Email: jim@ehlers-inc.com <br />