Happy Holidays From Ehlers!

E-Quarterly Newsletter - December 2024

Happy Holidays From All of Us At Ehlers

Amid the hustle and bustle of the holiday season, all of us at Ehlers want to take a moment to express our sincere thanks for your partnership and collaboration on so many meaningful community-building initiatives. We are incredibly privileged to serve you, and ever grateful for the trust you place in us to deliver the advice, service, and value you need to achieve your goals.

This is the perfect time to slow down, appreciate the good things in our lives, and prepare for the new year ahead. So, whether it’s enjoying some well-deserved rest and relaxation, celebrating with friends and family, or simply taking in the joy of the season, we hope you can do just that.

Of course, the end of one year and the beginning of another also signifies change. At Ehlers, we are saying farewell to two exceptional teammates as they enter the next chapter of their lives: retirement! First, Jessica Cook, our Director of Fiscal Consulting and Chair of Ehlers Companies’ Board of Directors, is leaving us after more than two decades with the firm. Robin Roland, a Senior Fiscal Consultant is also retiring after spending her entire career in local government finance. Please join me in congratulating both on a job well done!

Looking forward to the new year, we are excited to announce that Ehlers will celebrate its 70th anniversary in business. This is an exceptional milestone for us, and it wouldn’t have been possible without the strong relationships we’ve built with all of you. Thank you!

We wish you and yours a joyful holiday season filled with peace, laughter, and everything else that makes this time of year special. And here’s to a promising new year; we can’t wait to continue sharing in your collective mission of building strong and vibrant communities!

Cheers!

Greg Crowe

Ehlers Companies President & CEO

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E-Quarterly Newsletter - December 2024 VIEW

If At First You Don’t Succeed, Try…Try Again!

The November 2023 election provided mixed results for Minnesota school districts requesting operating referendums, capital project levies, and bond referendums. These elections came on the heels of two years of record inflation, additional funding and new mandates from the legislature, and the pending expiration of federal stimulus funds. We spoke with officials at two districts that saw their referendums fail in 2023, but quickly regrouped, re-engaged with their communities, and ultimately achieved success amid a very noisy November 2024 election season.

Growth Pays For Growth

Many residents and policymakers in growing communities are concerned about the cost of infrastructure to serve new growth such as streets, utility extensions, and parks. A common philosophy in this realm of public finance is that “growth should pay for growth.” Impact or development fees are one way state statutes allow municipalities to help offset the costs of some new public facilities necessitated by growth.

How Much is Enough?

Communities across Minnesota and Wisconsin receive financial assistance requests from developers to construct several different types of projects. As local leaders and public employees, it’s paramount to respond to these requests in a prudent yet fiscally responsive manner…all while balancing the needs of your community and protecting local resources.

Best Bank for the Buck!

Governmental entities are responsible for a significant amount of public funds, making the selection and evaluation of banking relationships a critical aspect of sound financial operations. The choice of a banking partner impacts not only the safety and accessibility of governmental dollars, but also the operational efficiency and overall fiscal responsibility.

2024 Market Commentary

As 2024 comes to an end, we’d like to take a moment to reflect on how certain economic and geopolitical events shaped the capital markets over the past year. Several key events took place over the past 12 months, including the Federal Reserve’s Federal Open Market Committee (FOMC) lowering their benchmark federal funds rate for the first time since the early stages of the Covid-19 pandemic and a federal election that will shift the makeup in Washington D.C. for the coming year, at least, if not the next two.