WS 1999 10 18CITY COUNCIL WORK SESSION
OCTOBER 18, 1999
MEMBERS PRESENT: Mayor Mancino, Council members Engel, Jansen, Labatt and Senn.
Staff present: Scott A. Botcher, City Manager; Todd Gerhardt, Assistant City Manager; Bruce
DeJong, Finance Director.
FINANCIAL ADVISOR RECOMMENDATION: Pursuant to a memo drafted by the City
Manager, representatives from Ehlers & Associates were present to introduce themselves and
make themselves available for any questions that the council may wish to ask. The City Manager
has recommended the retention ofEhlers & Associates as the financial advisor for the City of
Chanhassen. Following some brief questions and remarks by the Ehlers & Associates team, there
was no further discussion on the issue.
CAPITAL IMPROVEMENT PROJECTS: Mr. Gerhardt was present to initiate discussions
on the capital improvement budget. Staff has been working on the development of a 5-Year
Capital Improvement Plan for the years 2000-2004. It is hoped this plan will allow us to
effectively budget on an annual basis as well as provide a medium ranged vision for the capital
needs of the city over a five-year period. In this way, we can more appropriately plan for our debt
service and capital expenditures and hopefully smooth out some of the budgetary peaks and
valleys that may occur should we not properly plan. Mr. Gerhardt went through the first half of
the document and there were numerous additions and deletions. The discussion was quite lengthy
and many questions were asked. It was agreed that once the group reached the beginning of
Chapter 6, that the balance of the capital plan would be reviewed at the next work session.
CASH FLOW PROJECTIONS: Finance Director DeJong was present to discuss with the
council some cash flow projections between now and February. He presented a memo identifying
cash flow needs between now and then, particularly focusing on debt service needs which become
apparent approximately February 1.
BOND SALE: Finance Director DeJong also discussed some very rudimentary issues regarding
the bond sale and indicated that it had tentatively been scheduled for November 22, 1999. He
indicated that some additional information might be requested of council members for the
preparation of the Official Statement.
As there were no further questions from the council, the meeting adjourned.
Respectfully submitted,
Scott A. Botcher, City Manager