April 2012
Inside The Advisor
Ehlers 2012 School Finance Seminar

by Betsy Knoche,  

Financial Advisor

 

Ehlers hosted its annual School Finance Seminar on Friday, April 13, 2012 at the Radisson Roseville. In addition to attending the sessions, attendees had the opportunity to network with colleagues and enjoyed warm Otis Spunkmeyer cookies!

 

School finance can be very dry, but when you dig beneath the mundane details, our work is full of fascinating stories about the school districts and communities with whom we work.

 

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Greetings!

In this issue of The Advisor, we explore Aid Anticipation Certificates, which are financial instruments used by school districts to borrow money to meet cash flow needs.

We're informing you that the Ehlers Budget Projection Model (BPM) has been updated to project next year's budget (2013-2014) and subsequent budgets, and that some features have been streamlined.

If you weren't able to attend the Ehlers Public Finance Seminar last week, we talk about highlights and invite you to attend next year.  

 

We also discuss federal changes that will affect Issuers' relationship with Public Finance professionals.

 

Thanks for reading. 

 

Steve Apfelbacher 

Steve Apfelbacher

President and CEO

sapfelbacher@ehlers-inc.com

 

2012 Aid Anticipation Certificates for Minnesota School Districts

by Jeff Seeley, Financial Advisor

 

Jeff Seeley 

At some time during a fiscal year, many school districts experience deficits in their operational cash flow. When this occurs, districts need additional funds to meet their ongoing expenditure obligations. The key to managing this situation effectively begins with understanding your cash reserves and the various tools available to borrow efficiently.  

 

It all starts with compiling an accurate projection of the district's cash flow prior to the start of the fiscal year. It is also essential to monitor your cash reserves by updating this projection periodically throughout the year.

 

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Ehlers Budget Projection Model

by Tom Berge, Financial Advisor

 

Tom Berge The Budget Projection Model (BPM) has been updated to project next year's budget (2013-2014) and subsequent budgets. A report has been added summarizing your budget projection assumptions and the schedule for fund balance has been refined to provide trend and comparative data.  

 

The entry of prior year adjustments to revenue has also been simplified. The model is designed to efficiently and effectively enable you to make an accurate budget projection.  

 

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Federal Changes Will Affect Issuers' Relationship with Public Finance Professionals

by Joel Sutter, Financial Advisor

 

joel sutter Congress passed legislation that will affect how Issuers borrow money and how public finance professionals like Ehlers provide financial advisory services. How does federal law impact school administrators and business officials? Some processes will change in the best interest of issuers.

 

The responsibility of the Municipal Securities Rulemaking Board (MSRB) now includes the protection of municipal security issuers and regulation of municipal advisors which includes financial advisors. MSRB rules adopted and proposed will change all issuers' relationships with their financial advisors as well as with underwriters, who have been previously regulated. It is important for issuers to understand the MSRB's rulemaking efforts to date and the direction the final rules will likely take.

 

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