Council ponders funding of Library project
How the Northfield Council funds the Library project was a topic during their work session this week. Earlier they approved $700,000 to $1 million for the improvements. Most of the Council seemed to prefer taking money out of the General operating fund. However there’s at least one councilor who want to bond for it. Graham says the City has a healthy reserve of over $6.5 million, more than 50% of it’s operating budget which is higher than the recommended amount. The question to Council is “is this the best way to use that money”. The answer may come during next week’s meeting.
Finance Director recommends Investment manager for the City’s money
The City of Northfield is switching investment managers. Currently the City’s money is managed by Wells Fargo and the 4M Fund . Finance Director Melanie Schlomann recommended The PFM Group for several reasons, one is that the City will save over $10,000 a year. Mayor Graham said The PFM Group also works with the Northfield School District and Rice County. Schlomann says making this change will produce not only savings of over $10,000 a year on fees but the City’s entire portfolio will be under the advice of a full time professional unlike it is now. PFM representative Don Hansen said that, although State law has conservative restrictions on how a municipality can invest the people’s money, it can still be risky without proper management.
Prairies Edge is on the move
Prairies Edge Humane Society is on the move… to Northfield. Executive Director Kathy Jasnoch said they secured a site at 680 Professional drive. Their facility in Faribault served them well but is in need of major repair. After much discussion they decided to make the move to serve the animals better. The current building has been sold. They’ll be making some updates on the new site as well. At the point they’re ready to move equipment they’ll be asking for volunteers with trucks and trailers. Business operations manager Sandy Vesledahl added that they’ll be asking for more volunteers to paint. Exactly when that is isn’t certain yet but will likely be in June. Their hours will change for a time as well. Check their website prairiesedgehs.org. All the dogs have been moved into foster care which is much better for them. And don’t miss their garage sale today from 8 to 5 and tomorrow from 8 to 2 at 1500 Clinton Lane, the same building as Chuck and Don’s.
St. Olaf dropping their telecommunications business
St. Olaf College is stepping away from the telecommunications business. Vice President and Chief Financial Officer Jan Hanson said St. Olaf has entered into an agreement with Arvig, a long-established, family-owned telecommunications provider based in Minnesota. They’ll take over the telecom services for the college as well as St. Olaf customers. If customers have questions or concerns regarding the transition of services or about specific accounts, they should contact the St. Olaf Telephone Office at 507-786-3041.
Zoning and Planning Commissions met last night. Those meetings are archived online at kymnradio.net.
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The post Today’s news update – Council ponders funding of Library project; Finance Director recommends Investment manager for the City’s money; Prairies Edge on the move – to Northfield; St. Olaf dropping their telecommunications business appeared first on KYMN Radio - Northfield, MN.