November 2010

 

Implementing the Dodd-Frank Act
Security and Exchange Commission
According to the Dodd-Frank Act, the stated aim of the legislation is to "promote the financial stability of the United States by improving accountability and stability in the financial system..." 

 

We'll keep you informed of changes in the regulation process, and click here to read the most recent accomplishments as reported by the SEC.

 

 

 

Conferences: ASBO, MASA, NAIPFA, WASBO and MASBO

 

Ehlers SealFall is a busy time, and Ehlers had the pleasure of attending five important conferences.

 

To read more each about each conference, click here.

 

Save the Date-2011 Ehlers School Finance Seminar


Not only is April 15, 2011 Tax Day, but Ehlers is celebrating that day with its annual School Finance Seminar held at the Radisson Roseville. Mark your calendars and more information about the seminar will follow soon.

 

Ehlers Expands Services to School Districts Through Partnership with Dr. Greg Vandal

 

In September, Ehlers announced a partnership with Dr. Greg Vandal and his consulting firm - Vox Liberi.

 

Greg retired this summer as superintendent of the Sauk-Rapids Rice School District, after a long and distinguished career in school administration.  Ehlers has contracted for a portion of Greg's time to assist in expanding and improving school district services.

 

Click here to continue reading.

 

 

 

Top 20 Thanksgiving Recipes

Happy Thanksgiving!

We all can use a little help in the kitchen, so with Thanksgiving just around the corner, check out the Top 20 Thanksgiving recipes presented by AllRecipes.com before you go over the river and through the woods.

Greetings!

Change is in the air as fall moves into winter. And speaking of changes, there are some big changes occurring as the federal government passed legislation that affects how financial advisory services like Ehlers provides services to you and your community.

 

Rest assured that at Ehlers, we have been and continue to act in a fiduciary responsibility to all of our clients, because we've always been independent financial advisors.

 

 

As clients of Ehlers, you will have received a letter from us to further explain some of the changes we know about in the near future. We'll also be posting a copy of the letter on our website soon.

 

We're at the beginning stages of a lengthy rule-changing process. Ehlers will bring you updates as we keep actively involved with the regulations and how it will impact the industry, like the SEC approving new amendments to Rule 15c2-12, dealing with disclosures . The Ehlers Team is committed to serving you and your community's best interests. That will never change.

 

Steve Apfelbacher

Steve Apfelbacher

President and CEO

sapfelbacher@ehlers-inc.com

 

 

Ehlers Assists Districts with Operating Referendums

by Joel Sutter, Senior Financial Advisor

 

joel sutterEhlers provided advisory services to over 60 percent of 77 Minnesota school districts which held operating referendums on November 2. 

 

This is an unusually high number of referendums given the challenges of voting:

in the midst of a lingering recession; and on a statewide general election day, when the large number of candidates and questions on the ballot often makes it more difficult to pass school referendums. 

 

It is only because of the dire financial prospect districts are expecting - with a large state deficit forecast and the impending end of federal stimulus funds - that so many districts would incur the time and expense of conducting a referendum in such challenging times. 

Click here to continue reading.

 

School District Refundings Result in Debt Service Savings of $14 Million 

by Jodie Zesbaugh, Financial Advisor

 

jodie zesbaughOne of our services as a financial advisor is to monitor existing bond issues and alert our clients if we believe it may be beneficial to refund any of their existing issues.  During August through October of 2010, interest rates were at historic lows. 

 

Because we continually monitor existing bond issues, we were able to quickly contact our clients about refunding opportunities and get bonds sold in September and October.


Click here to continue reading.

 

 

Ehlers Offers Flexible Solutions for Cash Flow Borrowing 

by Joel Sutter, Senior Financial Advisor

 

joel sutter

To help solve its own budget shortfalls, the State of Minnesota has "borrowed" nearly $2 billion from school districts over the last two years - through the 70-30 aid shift, the property tax shift, and further last-minute payment delays under statute 127A.46.  These actions have severely reduced cash balances for all school districts, leading to a greater need for cash flow borrowing.

 

Click here to continue reading.

 

  

 

Harold Remme Receives MASA's 2010 Polaris Leadership Award

by Carolyn Drude, Senior Financial Advisor

 

Carolyn DrudeThe Minnesota Association of School Administrators (MASA) recognizes exemplary school leadership of a MASA member with 20 or more years of administrative experience by presentation of the Polaris Leadership Award at the MASA Fall Conference.


Click here to continue reading. 

 

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Ehlers & Associates | 3060 Centre Pointe Drive | Roseville | MN | 55113