HomeMy WebLinkAbout2017 03-30 FCA
AGENDA
Brooklyn Center Financial Commission
Thursday, March 30, 2017 – 6:30 PM
All American Conference Room (Main Level of City Hall)
I. Call to Order
II. Approval of Agenda
III. Approval of Minutes for June 16, 2016
IV. Election of Commission Chairperson
V. Election of Commission Vice Chairperson
VI. Request for Proposal: Insurance Agent of Record
VII. Request for Proposal: Financial Advisory Services
VIII. Other Business
a. 2018 Budget Schedule
i. Work Session w/City Council: Auditor – Monday, June 5,
2017 @ 6:30pm
IX. Adjournment
City of Brooklyn Center
FINANCIAL COMMISSION
Financial Commission meets on the 3rd Thursday of each month, 6:30 p.m., at City Hall, as well as in joint
session with the City Council during the budget planning process. The Financial Commission advises the
City Council on financial matters in Brooklyn Center. Commissioners serve a three-year term. Chairperson
and six members.
[Minn. Stat. 13.601, Subd. 3(b) states that once an individual is appointed to a public body the following data are public: (1) the
residential address; (2) and either a telephone number or electronic mail address where the appointee can be reached, or both at the
request of the appointee.]
Rex Newman, Chair
3107 61st Ave N (29)
763-561-2760
rexnewman@comcast.net
1/8/07-12/31/17
Jeffrey Dobbs
5311 Camden Ave N (30)
612-351-9650
jdobbs06@gmail.com
5/9/16-12/31/18
Teneshia Kragness
5906 Vincent Ave N (30)
763-412-7248
mrskragness@yahoo.com
8/23/10-12/31/17
2 – Vacant Positions (Vice
Chair)
Dan Schueller
5937 Emerson Ave N (30)
763-566-6417
dschue5@yahoo.com
1/11/10-12/31/17
Dean Van Der Werf
6736 Regent Ave N (29)
763-561-0146
deanvanderwerf@gmail.com
7/11/11-12/31/18
2017 Council Liaison – Marquita Butler
councilmemberbutler@ci.brooklyn-center.mn.us
Staff Liaison Nathan Reinhardt
nreinhardt@ci.brooklyn-center.mn.us
Updated 2/12/17
Financial Commission Agenda Item No. 3
1
Financial Commission
Regular Meeting Minutes
June 16, 2016
1. Call to Order
The meeting was called to order by Vice Chairperson Mr. Schueller at 6:39 PM.
Members Present: Commissioners Scheuller, Van Der Werf, Burke, Newman, Dobbs
and Kragness (arrived 6:43 PM).
Members Absent: Commissioner Schulz (unexcused)
Council Liaison Myszkowski was present.
Finance Director Reinhardt was present.
2. Adoption of the Agenda
Mr. Schueller moved adoption of the June 16th, 2016 agenda. With no objection,
the agenda was adopted.
3. Minutes
Mr. Newman moved adoption of the minutes from the June 4th, 2015 meeting. The
motion was seconded by Ms. Burke. With all voting in favor, the motion was
approved.
4. Election of Commission Chairperson
Mr. Schueller made a motion to nominate Mr. Newman as Chairperson for 2016.
The motion was seconded by Ms. Kragness. With all voting in favor, Mr. Newman
was affirmed Chairperson of the Financial Commission for 2016.
5. Election of Commission Vice Chairperson
Mr. Newman made a motion to nominate Ms. Burke as Vice Chairperson for 2016.
The motion was seconded by Mr. Schueller. With all voting in favor, Ms. Burke was
affirmed Vice Chairperson of the Financial Commission for 2016.
4. Mayor and City Council Compensation for 2017-2018
Mr. Reinhardt reviewed the City Council policy that every two years it is the
responsibility of the Financial Commission to review the City Council’s compensation
and recommend a compensation level for the upcoming two years. Comparison of
compensation from communities identified in the policy was provided along with
financial implications of various levels of compensation increases.
2
The Financial Commission discussed the use of a technology stipend or a computer
to replace paper packets. It was suggested that this should be considered if the City
Council believed it could save money or increase their ability to complete their job
duties.
Additional conversation regarding previous staff wage adjustments and anticipated
future staff adjustments were considered when deciding what would be an
appropriate recommendation and consideration of previous freezes to Mayor and
Council compensation.
Ms. Burke made a motion recommending a two percent salary adjustment for 2017
and a two percent salary adjustment for 2018. The motion was seconded by Ms.
Kragness. With all voting in favor, the motion passed.
6. Future Meeting Dates
Commissioners were made aware of the joint budget meeting dates with City
Council. The first joint work session (Capital Improvement Plan discussion) will be
held on Monday, July 6th, 2016 beginning at 6:30 PM in the City Council Chambers.
Adjournment
With no other business to transact, Mr. Newman adjourned the meeting at 7:20 PM.
Financial Commission Agenda Item No. 4 & 5
Financial Commission Agenda Item No. 6
Memorandum
Date: March 30, 2017
To: Financial Commission
From: Nathan Reinhardt, Finance Director
Re: RFP for Insurance Agent of Record
Attached is a draft Request for Proposals for review by the Financial Commission.
It solicits proposals for performing the duties of Agent of Record for the City in
its relationship with the League of Minnesota Cities Insurance Trust (LMCIT). The
Agent will also assist the City with risk management evaluation and by making
recommendations for improving risk management practices and procedures.
Representatives of LMCIT also assist in advising on risk management. LMCIT
requires that each city participating in the Trust have a professional agent
representing them to facilitate clear, proper and timely communication.
The City has contracted with Northern Capital Insurance for the past six years
and staff has very happy with the services they have provided. The cost for this
service was $14,750 in 2016.
The term of a proposed agreement will be three years at a guaranteed rate scale
with another three open to negotiations on compensation for the Agent.
The proposal will be forwarded to the City Council for consideration at the April
24th meeting.
As per the Policy, staff will distribute, collect and evaluate the RFP materials with
a final recommendation being made to the City Council at the July 24, 2017
regular meeting.
Please bring questions and/or comments to the March meeting.
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TABLE OF CONTENTS
I. INTRODUCTION
A. Introduction and General Information
B. Background Information
C. Scope of Work
D. Qualifications
E. Terms of Engagement
F. Fees
G. Subcontracting
H. Rights of Review
II. INSTRUCTIONS
A. Proposal Submission
B. Schedule
III. CONTRACT EXECUTION
A. Negotiations and Contract Execution
B. Contracting Ethics
I. Introduction and Background
A. Introduction and General Information
The City of Brooklyn Center’s insurance coverage for property, liability and
automobiles is provided by the League of Minnesota Insurance Trust (LMCIT).
LMCIT requires cities to use the services of an agent or record to assist and
advise a city on their insurance coverage. The City of Brooklyn Center is also
insured for workers compensation through LMCIT. Brooklyn Center invites
written proposals from insurance brokers to act as the broker of record for the
LMCIT policies that will be renewed April 1, 2018 and act as agent of record for
worker’s compensation policies renewing January 1, 2018. The agent of record
will be determined by the fee proposed (in lieu of a commission) and the
qualifications of and references for the insurance agent and their staff.
Coverage for property and liability for the Earle Brown Heritage Center is written
under the auspices of the Brooklyn Center Economic Development Authority
(EDA). This set of policies is also provided by the LMCIT.
B. Background Information
The City of Brooklyn Center is a north metropolitan area suburb community
located in Hennepin County, Minnesota. The City encompasses an area of
approximately 8.5 square miles, with the most recent population estimate to be
30,569 by Metropolitan Council. The City was established as a village in 1911
and incorporated as a charter city 1966 by referendum vote of its citizens. The
City operates with a Council-Manager form of government.
A full range of public services is provided, including police and fire protection,
construction and maintenance of streets and infrastructure, cultural and
recreational activities and general administration. The City’s Public Utility
Enterprise Fund activities include water, sanitary sewer, street lighting, and storm
drainage and recycling. The City also operates as Enterprise Fund activities two
liquor stores and an executive golf course. The EDA operates the Earle Brown
Heritage Center, a meeting and conference facility.
The City is organized into the following departments accounted for in the General
Fund: Mayor and City Council, Administration, Police, Fire and Emergency
Services, Building and Community Standards, Business and Development,
Community Activities, Recreation and Services (CARS) and Public Works
(Engineering, Streets, Central Services Maintenance and Parks). The accounting
and financial reporting functions are centralized, and the City’s fiscal year is the
calendar year.
The Brooklyn Center City Council is the final review and approval authority
regarding all contracts, payments, plans, improvements, policies, procedures and
other business of the City. Comprised of four members and the Mayor, it is the
legislative and policy making body of the City. The Mayor, who presides over
the City Council meetings, is elected at large for a four year term as are the
Council members.
C. Scope of Work
The insurance broker will be responsible for the following:
1. Advise and assist the City and the EDA in assembling and accurately
reporting underwriting data, including updating property values, for rating
purposes and completing the LMCIT renewal forms based on the data
supplied by the City and the EDA.
2. Advise and assist the City and the EDA in evaluating and selecting among
coverage alternatives such as deductibles, limits, optional coverage,
alternative coverage forms, etc. Advise the City and the EDA on potential
gaps or overlaps in coverage.
3. Review the LMCIT insurance policies for completeness and accuracy.
Confirm that the policies have been updated with the new data supplied
during the renewal process.
4. Provide explanations of insurance coverage, coverage options and make
recommendations as requested.
5. Conduct quarterly review of open claims. Review claim reserves for
appropriateness.
6. Assist the City in identifying risk exposures and developing appropriate
strategies to address those exposures.
7. Issue certificates of insurance as needed.
8. Assist as requested with safety and loss control activities.
9. Perform other duties customarily handled by an insurance agent and
agreed upon by both the City and agent.
D. Qualifications
The proposer shall demonstrate their experience and qualifications by including in
their proposal the following information. Please assemble the proposal with
responses in the same order as listed below to facilitate review comparison.
1. Provide a general profile of the proposer.
2. Number of years the proposer has been in business.
3. Names of governmental entities insured by the proposer through the
LMCIT during the last five years and brief description of services
provided.
4. Detail the name(s), qualifications, experience, and professional
designations of the staff proposed to service the City’s account.
5. Proposer premium volume excluding personal lines of coverage (health,
life, etc.).
6. Present limit of errors and omissions coverage in place for the proposer.
7. Describe any other resources or special qualifications of the proposer that
would be advantageous to the City.
8. Identify the proposer’s fee for services.
9. List three (3) to five (5) references, including names, addresses and phone
numbers for contact purposes.
E. Terms of Engagement
A three-year contract is contemplated with an additional three one-year options to
renew, subject to review by the Brooklyn Center City Council and the annual
availability of an appropriation.
F. Fees
The insurance broker shall indicate in its proposal the fee required to service the
City’s LMCIT insurance coverage for the policy periods of:
September 1, 2017 – August 31, 2018
September 1, 2018 – August 31, 2019
September 1, 2019 – August 31, 2020
The fee proposed is in lieu of a commission.
Additionally, the proposal must incorporate any limits to the hours of service for
all activities listed in Section C of this RFP.
G. Subcontracting
No subcontracting will be allowed without the express prior written consent of the
City.
H. Rights of Review
The City of Brooklyn Center reserves the right to reject any or all proposals, to
request additional information from any or all applicants as determined to be in
the best interest of the City.
II. Instructions
A. Proposal Submission
Three (3) hard copies and one (1) electronic (PDF) version of its proposal
shall be submitted to the Finance Department of the City no later than
3:00pm on Wednesday, May 31, 2016.
Submittals shall be addressed to:
Nathan Reinhardt, Finance Director
City of Brooklyn Center
6301 Shingle Creek Parkway
Brooklyn Center, MN 55430
Nathan Reinhardt, Finance Director
nreinhardt@ci.brooklyn-center.mn.us
All responses, questions, and correspondence should be directed to Nathan
Reinhardt, Finance Director at nreinhardt@ci.brooklyn-center.mn.us or (763)
569-3345.
B. Schedule
The City has developed the following schedule of events for this process:
1. Financial Commission approves format of RFP ....................... March 30, 2017
2. City Council authorizes Request for Proposal/Ad for bids ......... April 24, 2017
3. Request for Proposals issued ......................................................... May 1, 2017
4. Proposal due date May 31, 2017
5. Selection of Finalists June 9, 2017
6. Interviews (as necessary) completed by June 28, 2017
7. Final decision/contract negotiation completed by July 21, 2017
8. Contract consideration by the City Council July 24, 2017
III. Contract Execution
The information below is being provided as part of this Request for Proposal to give
responders an understanding of the City’s expectations with respect to contract execution.
A. Negotiations and Contract Execution
The City reserves the right to negotiate the final terms and conditions of the
contract to be executed. Should the City and agent be unable to agree upon the
entire contract, the City reserves the right to discontinue negotiations, select
another agent, or reject all of the proposals. Upon completion of negotiations
agreeable to the City and the agent a contract shall be executed.
B. Contracting Ethics
1. No elected official or employee of the City of Brooklyn Center who
exercises any responsibilities in the review, approval, or implementation of
the proposal shall participate in any decision, which affects his or her direct
or indirect financial interests.
2. It is a breach of ethical standards for any person to offer, give, or agree to
give any City of Brooklyn Center employee or Council person, or for any
City of Brooklyn Center employee or Council person to solicit, demand,
accept, or agree to accept from another person or firm, a gratuity or an offer
of employment whenever a reasonable prudent person would conclude that
such consideration was motivated by an individual, group or corporate
desire to obtain special, preferential, or more favorable treatment than is
normally accorded the general public.
3. The agent shall not assign any interest in this contract and shall not transfer
any interest in the same without the prior written consent of the City.
4. The agent shall not accept any private client or project which, by nature,
places it in ethical conflict during its representation of the City of Brooklyn
Center.
Financial Commission Agenda Item No. 7
Memorandum
Date: March 30, 2017
To: Financial Commission
From: Nathan Reinhardt, Finance Director
Re: RFP for Financial Advisory Services
Attached is a draft Request for Proposals soliciting financial advisor services for
the City over the next six year period. The last previous RFP process pursued for
these services was done in 2011.
Section III on the Scope of Services provides information on the four major
responsibilities the City expects the Financial Advisor to perform:
1. Debt Issue Development and Oversight
2. Continuing Disclosure/Arbitrage Rebate Management
3. Financial Planning and Debt Management
4. Economic Development Planning
The selection process for the successful proposer includes review of the
proposals by a Committee made up of members of the City Council, Financial
Commission and Staff, all appointed by the Mayor in consultation with the Chair
of the Financial Commission. The schedule for completion of the RFP process on
the last page indicates that the Committee will recommend two or more finalists
for interview by June 9th, 2017. Interviews of the finalists will be conducted by
the Committee between June 9th and June 28th. A final decision will be
recommended to the City Council on Monday, July 24th 2017.
Staff is currently aware of three firms who would be able to provide the services
requested. These are:
Springsted, Inc. (the incumbent)
Ehlers, Inc.
Northland Securities
These firms will be provided with the RFP document, the City will also post the
RFP on the League of MN Cities website.
Please bring questions and/or comments to the March meeting.
City of Brooklyn Center
Minnesota
Request for Proposal
For Financial Advisory Services
May 1, 2017
TABLE OF CONTENTS
I. STATEMENT OF PURPOSE
II. GENERAL INFORMATION REGARDING THE CITY
III. SCOPE OF SERVICES
A. Debt Issue Development and Oversight
B. Continuing Disclosure/Arbitrage Rebate Management
C. Financial Planning and Debt Management
D. Economic Development Planning
IV. PROPOSAL FORM AND CONTENT
A. Qualifications
B. Fees
C. Terms and Conditions
IV. SELECTION PROCESS
A. Interviews
B. Schedule
C. Evaluation of Proposals
I. Statement of Purpose
The City of Brooklyn Center, Minnesota is inviting proposals for the purpose of selecting
a firm to serve as independent financial advisor to the City. The City expects to select a
financial advisor who will serve the City for a period of four to six years, commencing on
January 1, 2018. The independent financial advisor will be expected to perform services
as required by the City in a professional and timely manner.
II. General Information Regarding the City
The City of Brooklyn Center is a northern metropolitan area suburban community located
in Hennepin County. The City encompasses an area of approximately 8.5 square miles,
with the most recent population estimate to be 30,569 by Metropolitan Council. The City
was incorporated in 1911, and is governed under a Home Rule Charter adopted in 1966
and subsequently amended. The City has a Council-Manager form of government. The
Mayor and four City Council members are elected to serve overlapping four-year terms.
The current governing body is:
Tim Willson Mayor Term expires 12-31-2018
Dan Ryan Council Member Term expires 12-31-2018
Kris Lawrence-Anderson Council Member Term expires 12-31-2020
April Graves Council Member Term expires 12-31-2018
Marquita Butler Council Member Term expires 12-31-2020
The City Manager, Mr. Cornelius L. Boganey, is responsible for the administration of
Council policy and the daily management of the City. The Manager is appointed by the
Council and serves at its discretion. Mr. Boganey has served the City in this position
since June 2006. Prior to that, Mr. Boganey served as the City's Assistant Manager
beginning March 2003. He has also served as City Manager in Brooklyn Park,
Minnesota and Port Arthur, Texas, and as Assistant City Manager in Kalamazoo,
Michigan.
The Finance Director, Mr. Nathan Reinhardt, is responsible for directing the City’s
financial operations, including preparation of the comprehensive annual financial report
and interim reports, and the investment of City funds. Mr. Reinhardt has served as the
City’s Finance Director since November 2013. Previously, Mr. Reinhardt served as
Finance Director for the City of Waseca, Minnesota.
The City has 156 regular full-time and 150 seasonal full- and part-time employees.
III. Scope of Services
The independent financial advisor will assist the City in the analysis, structure, issuance
and management of debt on a regular ongoing basis. The financial advisor may also be
called upon to provide other financial advisory services on an as needed basis, such as
analyzing capital financing plans, tax increment financing plans or projects, utility or
service rate analysis, housing financing or assistance with negotiated transactions.
Services will include, but not be limited to, the following tasks:
Task 1: Debt Issue Development and Oversight
Task 2: Continuing Disclosure/Arbitrage Rebate Management
Task 3: Financial Planning and Debt Management
Task 4: Economic Development Planning
Any outlined task(s) requiring periodic updates and monitoring by the City and/or the
financial advisor for which working documents and/or computer models are necessary
will be formatted so as to be compatible with the City’s most current software. Such
working documents will become property of the City.
Task 1: Debt Issue Development and Oversight
The financial advisor will be responsible for the oversight of issuance of all competitive
and negotiated debt sale/bond sale transactions. This task will include A.) Planning and
Development; B.) Marketing; C.) Bond Closing and D.) Work Products.
A. Planning and Development
The financial advisor will:
1.) Research and advise the City on aspects of tax exemption and arbitrage in
cooperation with Bond Counsel and the City Attorney;
2.) Review preliminary feasibility studies in cooperation with City officials
and administrative staff, attorneys, bond counsel and others as requested
by the City outlining each proposed project, its costs, funding sources and
alternatives, existing debt and future debt service requirements and cash
flow and revenue needs;
3.) Analyze the proposed financing, including financing alternatives to
determine methods of strengthening marketability, and recommend the
best method of marketing consistent with current economic and
conditions and rating agency criteria;
4.) Consult with established rating agencies regarding proposed financing
and assist the City in obtaining the most favorable rating possible by
directing preparation of appropriate information including analysis of
City credit rating with reference to standards, national trends and other
relevant factors and advising the City on measures that may be taken to
improve bond and credit ratings;
5.) Act as a liaison with bond counsel and coordinate the work of other
professionals providing similar services.
B. Marketing
The financial advisor will assist the City in the marketing of bond issues. The
following duties will be required.
1.) Advise the City on the appropriate terms and conditions of the sale, such
as maturity schedule, discounts, par, premium, net interest cost and true
interest rate. The financial advisor will consult with the City and bond
counsel concerning bond covenants and advise on advantageous features
such as parity provisions, reserve requirements, sinking fund payments
and redemption provisions. The financial advisor will also assist the City
in preparation of call notices and provisions.
2.) Advise on the timing of bond sales, taking into consideration such factors
as changing economic conditions, current and projected market trends
and convenience to the City.
3.) Assist in preparation of the Official Statement on behalf of the City and
with the cooperation of the City and the bond counsel. Advise the City
on full disclosure requirements and conformance to suggested guidelines.
Coordinate review and revision with the City, bond counsel and
underwriter. This Official Statement will be subject to final review by
City officials, City staff and bond counsel.
4.) Assist in publicizing the issue with an Official Statement, notice of sale,
bid forms and such other means necessary and advisable to develop
regional public and institutional interest.
5.) Advertise the bond sale in prominent financial publications as may be
appropriate to the sale in addition to coordinating local publication
requirements with bond counsel.
C. Bond Closing
The financial advisor will assist the City in directing, coordinating and supervising
bond sale closing transaction. Such services will include:
1.) Coordinate the compilation of transcript material;
2.) Oversee all bond pricing and registration procedures;
3.) Solicit proposals for investment of funds, if necessary.
D. Work Product
The financial advisor will be expected to provide the following work products for
each debt offering unless specific arrangements are made for one or more of these
products to be provided by others:
1.) Pre-sale analysis;
2.) Offering statement;
3.) Post sale analysis:
4.) Such other studies, including analysis of funding alternatives, cash flow
projections and materials necessary for financial planning and bond sale
purposes.
Task 2: Continuing Disclosure / Arbitrage Rebate Management
The financial advisor will assist the City in the administration of continuing disclosure
and arbitrage/ rebate management. These services will include, but are not limited to:
A. Compile and assist with the distribution of an annual report for submission to all
nationally recognized municipal securities information repositories and the state
information depository, if one is designated, and the Municipal Securities
Rulemaking Board, as required by the provisions of the specific issue;
B. Monitor material events through periodic requests for information and assist with
the disclosure of material events;
C. Advise on arbitrage and/or rebate provisions;
D. Monitor funds subject to arbitrage restrictions and calculate rebates.
Task 3: Financial Planning and Debt Management
The financial advisor will assist the City in financial planning and debt management
activities. These services may include, but are not limited to:
A. Assist and advise with the implementation of a long-range financial plan for the
City. Development of the plan will include:
1.) Establishing policies and procedures;
2.) Identifying and evaluating objectives;
3.) Review and analyze cost effective alternatives for financing the City’s
operating and capital requirements; and
4.) Review revenue requirements of the various enterprise funds.
B. Assist and advise the City in managing its short- and long-term debt programs.
Such services will include:
1.) Assist and advise on development of debt management policies including
total debt, levy and per capita levels, pay back provisions, etc.;
2.) Monitor markets for opportunities to refinance existing City debt;
3.) Advise and assist the City in determining the scope of new debt
financing;
4.) Assist in communications with the financial community to promote the
City’s debt securities and improve bond ratings; and
5.) Assist the City in meeting its secondary market disclosure requirements.
Task 4: Economic Development Planning
The financial advisor will assist the City in fiscal planning of debt and debt management
of its economic development activities in the following areas:
A. Housing; including senior housing, market rate housing, housing rehabilitation
and pro forma models for projects.
B. Tax Increment Financing; including TIF plans, TIF debt management plans, TIF
policies and procedures, issuance of TIF debt, and pro forma models for projects.
C. Economic Development; including establishment of policies and procedures,
project analysis, tax impacts, and job creation possibilities.
IV. Proposal Form and Content
A. Qualifications
Proposals should include responses to each of the following items. Include sample work
products as appropriate to address the services expected, as outlined in the Scope of
Services section. Please construct the proposal with responses in the same order as listed
below to facilitate review and comparison by the Review Committee.
1. Experience of the firm with bond issues in the State of Minnesota.
2. Experience of the firm with jurisdictions of comparable characteristics to
the City of Brooklyn Center.
3. Identify the primary contact that will be assigned to work with the City.
List the qualifications and experience of the individual. If more than one
person is assigned identify the senior level contact. Include resumes for
all financial advisor staff listed as contacts for the City.
4. Experience dealing with bond rating agencies. Summarize the firms
approach to preparing and presenting bond rating information.
5. Outline the firm’s experience in providing debt issue development and
oversight services as outlined in the Scope of Services section.
6. Outline the firm’s experience in providing continuing disclosure/arbitrage
rebate management services as outlined in the Scope of Services.
7. Outline the firm’s experience in providing financial planning and debt
management services as outlined in the Scope of Services section.
8. Outline the firm’s experience in providing economic development
planning services as outlined in the Scope of Services section.
9. Summarize the firm’s support services capability (i.e. printing, word
processing, graphics, etc.) and whether these services are done in-house or
are contracted out.
10. Outline the firm’s experience in advance refunding for local governments.
11. Describe the process by which your firm will acquire a working
knowledge of the City’s outstanding debt so as to be able to advise the city
on any financial, legal, market or regulatory issues in the future.
12. List of references relating to projects completed for local governments
over the past five years with comparable characteristics to the City of
Brooklyn Center, preferably in the State of Minnesota. Provide name,
address and telephone number of a contact with the reference government.
B. Fees
Provide the pricing schedule the firm will use to charge the City for providing the
services described in the Scope of Services section. Differentiate between fees which
may be based upon a sliding scale tied to the size of a bond issue, fees for different types
of bond issues, fees which may be flat fees for service or a flat annual fee and hourly
rates for all personnel who may be billed on that basis.
Also indicate the level of service commensurate with the quoted price. If the firm is
proposing that the City pay the cost of incidental expenses state clearly what types of
expenses will be included in these charges.
C. Terms and Conditions
1. The City reserves the right to reject any or all of the proposals or to
negotiate a contract in the best interests of the City at the absolute and sole
discretion of the Brooklyn Center City Council.
2. The firm will submit five (5) hard copies and one (1) electronic (PDF)
version of its proposal to the Finance Department of the City no later than
3:00 PM on Wednesday, May 31, 2017
Submittals may be addressed to:
Nathan Reinhardt, Finance Director
City of Brooklyn Center
6301 Shingle Creek Parkway
Brooklyn Center, Minnesota 55430-2199
Nathan Reinhardt, Finance Director
nreinhardt@ci.brooklyn-center.mn.us
All proposals must be signed by an individual duly authorized by the firm.
All proposals will become property of the City. No public bid opening
will be held.
3. The Finance Director, Nathan Reinhardt, will be the City’s primary
contact for this process. He will coordinate appointments with staff and/or
the Review Committee for the interview and selection process. Questions
and requests for information will be directed to him. Any other contact
with City staff, the Mayor, Council Members or City Manager may be
grounds for immediate rejection of the firm’s proposal, at the discretion of
the City.
4. Only independent financial advisors should submit proposals to the City.
An independent financial advisor is a firm that does not engage in the
underwriting of municipal securities nor is it affiliated with any firms
engaging in the underwriting of municipal securities.
5. The City reserves the right to request clarification of any information
submitted and to request additional information for any or all proposers.
6. Any agreement or contract resulting from this process and the acceptance
of a firm’s proposal will be on forms supplied by or approved by the City
and will contain, at a minimum, the applicable provisions of this Request
for Proposals. The City reserves the right to reject any agreement or
contract that does not conform to the Request for Proposals, any additional
negotiated terms or conditions, and City or State requirements for
agreements and contracts.
7. The firm will not subcontract or assign any interest in any contract or
agreement without the prior written consent of the City executed by an
authorized individual.
8. All data, documents and other information provided to the City by the
financial advisor as a result of this Request for Proposals will become
property of the City and subject to its disposal.
9. All costs associated with the preparation of the firm’s proposal will be the
responsibility of the firm submitting the proposal.
10. The financial advisor will be expected to meet with City Officials at
Brooklyn Center City Hall as needed during the course of the service
engagement.
11. The City expects the financial advisor to respond to occasional telephone
inquiries that do not require considerable research on a complimentary
basis.
12. This document is a Request for Proposals, not for Bids. The City,
therefore, reserves the right to negotiate with any qualifying firm or party
on any matter in the proposal.
V. Selection Process
A. Interviews
The City may select two or more firms to make presentations to a Review
Committee prior to making a final recommendation to the City Council. Each
selected firm will make a presentation of no more than 30 minutes to the
Committee and then respond to questions from the Committee.
B. Schedule
The City has developed the following schedule of events for this process:
Request for Proposals Issue May 1, 2017
Proposals Due (3:00 p.m. at City Hall) May 31, 2017
Selection of Finalists June 9, 2017
Interviews Completed by June 28, 2017
Recommendation to City Council July 24, 2017
C. Evaluation of Proposals
A Review Committee will consider the proposals and make a recommendation to
the City Council. The recommendation will be based on the following criteria:
1. Quality of the proposal and its responsiveness to the criteria of the Request for
Proposals.
2. Experience and creativity in providing financial advisory services to cities of
comparable size and character to the City of Brooklyn Center.
3. Experience and availability of staff assigned to serve the City.
4. Proven ability to provide all of the services described in the Scope of Services.
5. References.
6. Fees.
Questions or requests for additional information may be directed to the Nathan Reinhardt,
Finance Director at nreinhardt@ci.brooklyn-center.mn.us or at telephone number (763)
569-3345.
Thank you for your consideration of this Request for Proposals.
Financial Commission Agenda Item No. 8
City Council and Financial Commission
Budget Schedule for 2018-2019
June 5, 2017 Monday Work Session
CAFR Presentation and Auditors Report
July 17, 2017 Monday Work Session
Capital Improvement Plan and Capital Project Funds
August 2, 2017 Wednesday Work Session
General Fund – Revenue/Department Requests
August 7, 2017 Monday Work Session
General Fund – Department Requests
August 21, 2017 Monday Work Session
General Fund – Recommended Preliminary Levy
September 11, 2017 Monday Regular City Council Meeting
Proposed adoption of preliminary levy and preliminary
governmental funds budgets
October 2, 2017 Monday Work Session
Special Revenue Funds, Debt Service Funds
Internal Service Funds
October 16, 2017 Monday Work Session
Utility/Enterprise Funds
October 30, 2017 Monday Work Session
Utility/Enterprise Funds (as needed)
November 27, 2017 Monday Regular City Council Meeting
Proposed adoption of the 2018 pay plan,
2018 cafeteria contribution and 2018 utility rates
December 4, 2017 Monday Special City Council Meeting
Public hearing on the recommended budget and levy
followed by proposed adoption of final tax levies and
budgets
December 11, 2017 Monday Regular City Council Meeting
Continuation, as needed, of recommended budget
and levy discussion/approval
Draft