March 2011

 

Paying Agents and New Payment Deadlines 

 

For school districts issuing bonds, a paying agent is a separate company hired by the district -usually at the time the bonds are sold - whose primary function is to make sure debt payments are made in a timely manner.

The paying agent maintains a record of the debt obligations it has been contracted to administer, notifies the school district in advance of payment due dates and amounts, collects the amounts due, and makes the bond payments on time to the proper party.

The paying agent also handles other administrative actions, such as processing of mandatory redemption notices for term bonds. 

 

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2011 Conferences 

 

Ehlers Seal

To read more each about the conferences where you can meet your Ehlers' School Finance Advisors, click here.

 

 

 

Top 10 Spring Cleaning Tips 

Spring Cleaning 

Spring is in the air, and that means you may get to urge to start your spring cleaning. But have you considered that spring cleaning could be hazardous to your health?

Read the Top 10 Spring Cleaning Safety Tips presented by Household Management 101 to insure you safely do your chores!

Greetings!

Welcome to the spring edition of The Advisor.

 

Spring always means it's time for the annual Ehlers School Finance Seminar, and we're pleased to be offering a great selection of timely topics that will be beneficial to you and to the districts to whom you serve. I'd like to extend a personal invitation for you to register and join us on Friday, April 15th.

 

Be sure to read about the 2012 election timelines and property tax shifts, both of which could have an impact on your districts.

 

Think Spring! 

 

Steve Apfelbacher 

Steve Apfelbacher

President and CEO

sapfelbacher@ehlers-inc.com

 

Register Now for the 2011 Ehlers School Finance Seminar

 

Ehlers School Finance Seminar 2011

  

Ehlers is hosting its annual School Finance Seminar on Friday, April 15, 2011 at the Radisson Roseville. As in past years, there will be two tracks with a variety of timely topics. 

 

Some of the key topics featured this year include:

  • Listening to Keynote Speaker - State Education Commissioner Brenda Cassellius, Ed. D.
  • Participating in workshops on Communication, New Accounting Standards, Tools for Financing Capital Projects, Best Practices in School Financial Management, Budget Reduction Strategies, and much more
  • Getting involved in a panel discussion with Superintendents who have "thought outside the box" and tried to creatively deal with providing quality education with less revenue than most districts

Are you already registered to attend? View the brochure here and click here to register today!

 

 

 

Election Timelines Severely Curtailed for 2012 

by Joel Sutter, Senior Financial Advisor

 

joel sutterBecause of the redistricting process that takes place every ten years, state law will severely restrict the dates that Minnesota school districts can hold special elections in 2012.

 

These restrictions will apply to elections for bond issues and capital projects levies, as well as to operating referendums that are conducted by mail ballot or by districts in statutory operating debt.

 

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Property Tax Shift 

by Betsy Knoche, Financial Advisor

Betsy Knoche

In 2010 the Legislature authorized a tax shift of 48.6% for Fiscal Year 2010-11. As a result, 48.6 percent of the property tax receipts payable in calendar year 2011 for the general and community service funds will be recognized as revenue in FY 2010-11 instead of FY 2011-12. 

There will be a corresponding reduction to the district's FY 2010-11 state aids. This makes the change in the property tax shift revenue neutral to school districts, but it will cause a reduction in cash balances for districts by a total of nearly $600 million statewide.


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