CHICAGO - Officials and analysts are tallying the costs of recent Red River flooding in Fargo, N.D., and Moorhead, Minn., even as residents brace for another cresting in the next few weeks.

Initial reports suggest that Fargo, Moorhead, and North Dakota are in a strong enough financial position to handle any short-term costs from the flooding. And while potential long-term costs could increase the cities' debt burdens, federal and state reimbursements will likely eliminate the need for them to borrow to cover recovery efforts.

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