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STAFF REPORT <br />DATE: November 12, 2025 <br />DISCUSSION <br />AGENDA ITEM:Strategic Financial Planning – Initial Discussion <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 />DISCUSSION: <br />This workshop discussion is a touchpoint regarding the strategic financial planning process. The purpose <br />of this discussion is threefold. <br />First, we want to introduce the basic assumptions guiding our work and ensure alignment between staff <br />and City Council, so that our financial modeling accurately reflects our shared understanding and goals. <br />As part of this, we’ll consider where we may want to reassess our assumptions and what process we <br />should use to do so. <br />Second, much like our city’s broader strategic planning process held in January 2025, we want to clarify <br />expectations—what Council expects from staff throughout this effort, and what staff needs from Council <br />to move forward effectively. <br />Third, this discussion is specific to our 2025 City Strategic Plan Short-Term Goal #3: Develop a <br />comprehensive financial strategy that supports and integrates with our long-term goals (consistent with <br />Core Strategy #3). However, there will be carryover into other goals and those will be considered as we <br />move forward. Therefore, if Council determines that any of those goals are no longer applicable, or if <br />scenarios should be examined that exclude certain sets of goals, we should discuss that further. <br />Foundational Assumptions and Planning Framework <br />This section outlines the core assumptions that will guide the City’s Strategic Financial Plan. These <br />assumptions are primarily focused on governmental funds, though several elements—particularly those <br />involving infrastructure and utilities—will inform the annual utility rate study and related long-term <br />planning documents. <br />The City’s financial planning assumptions are grounded in existing policies, current service levels, and <br />long-range capital and staffing needs. These assumptions will evolve as updated studies, plans, and <br />council direction become available. <br />1. Existing City Policies and Plans <br />2026 – 2035 Capital Improvement Program <br />o The 2026-2035 CIP will be adopted at the December City Council meeting. That plan is <br />derived from the below policies, as well as input from staff and various city commissions. <br />(The CIP is being presented to the Planning Commission on November 10; the current version