HomeMy Public PortalAboutResolution 2020-66, Authorize Staff To Engage Financial Consultant Aid Long-Term Financial Planning & Reporting ProcessesRESOLUTION 2020-66
A RESOLUTION TO AUTHORIZE STAFF TO SEARCH AND ENGAGE A FINANCIAL CONSULTANT
TO AID IN THE CITY'S LONG-TERM FINANCIAL PLANNING AND REPORTING PROCESSES
WHEREAS, The City of Riverdale, Iowa ("City") is a Municipal Corporation, organized and
operating under the laws of the State of Iowa, and;
WHEREAS, the City Council has recognized the importance of creating a long-range
financial plan for the City that will include alternative strategies to finance public works
and related projects, maintain adequate funding of citywide enterprises (like the Sewer
Fund), re -organize the structure and methods for managing the City's tax increment
finance districts (TIF Districts), and provide adequate fiscal controls to control residential
property tax rates, and;
WHEREAS, the Council certified the hiring of an outside contractor to help, specifically,
with restructuring the City's sewer fund and TIF accounts, and;
WHEREAS, staff has interviewed at least one qualified consultant who seems to have a
comprehensive understanding of the issues identified above and could provide great
value to the City on a limited engagement, and;
WHEREAS, staff is aware of at least two other consultants with similar backgrounds and
would like to interview them as well as part of a review/evaluation process which will
result in the eventual engagement of the preferred contractor, and;
WHEREAS, the current budget has a $10,000 for these services from an outside provider
(ref. Exhibit "A").
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RIVERDALE, IOWA,
That the City Council of Riverdale, Iowa authorizes the Mayor and City Administrator to
identify a preferred outside contractor to provide financial consulting services to the
City on a range of subjects they feel will yield the greatest cost -benefit to the residents.
A final proposal should be presented to Council for adoption and final funding (if
needed) no later than September 8, 2020.
Passed and approved this 18th day of August 2020.
APPROVED
ATTEST
Michael Bawden, ayor Katie Enloe, Deputy Clerk