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STAFF REPORT <br />DATE: August 14, 2025 <br />DISCUSSION <br />AGENDA ITEM:Strategic Financial Planning & Fee Studies <br />FROM: Clarissa Hadler, Finance Director <br />CORE STRATEGIES: <br />☐ Vibrant, inclusive, connected community ☒ Efficient, reliable, innovative services <br />☒ Responsive, transparent, adaptive governance ☒ Balanced Finances now and future <br />☐ Managed Growth ☒ Resilient Infrastructure <br />BACKGROUND: <br />Earlier this year, the City Council adopted a Strategic Plan based on the collaborative efforts made during <br />the Strategic Planning Session in January of this year. This discussion addresses two of the strategic <br />planning tasks and one Councilmember request. <br />Two of the High Priority Short-Term Goals listed in the Strategic Plan are; <br />Goal #3 - Develop comprehensive financial strategy that encompasses multiple long-term goals <br />(Core Strategy #3). <br />Goal #8 - Analyze and assess water, sewer, and street light fees (Core Strategy #3). <br />In addition, Councilmember Dragisich requested that we analyze our stormwater fee structure and <br />processes. <br />This discussion is solely to determine the scope, budget and priorities of these efforts. <br />Strategic Financial Management Plan <br />The SFP would bring together a number of concepts and strategies already practiced, planned, or discussed <br />into a single document that both provides history and insight, and provides a path forward. The overall <br />strategy being to create a financially sustainable city and organization well into the future. Staff has been <br />researching Strategic Financial Plans for a number of months and has created a draft Table of Contents of <br />the topics they wish to cover in the Plan. <br />The Plan would include chapters of written material, as well as both historical and projected financials. It <br />will also put those financial issues into various contexts. For instance, earlier this year when we updated <br />the Utility Study, we showed how our cash balances compared to accumulated depreciation and that we <br />needed to start saving more cash if we want to avoid significant debt in the future. <br />As we were developing the concept of this plan, we had discussions with a few financial consultants to get <br />rough estimates for outsourcing such a plan; Tammy Omdahl (Northland), Kyle Sawyer (Ehlers), and <br />Bonnie Schwieger (Abdo). Because our concept is somewhat different than what they normally provide, <br />we would need to put together exactly what we’re looking for to get a more complete quote. Consultants