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L A K E E L M O A N N U A L R E P O R T | 2 0 2 5 15 <br />Finance Department <br />City of Lake Elmo <br />2026 Priorities <br />Complete implementation of new financial <br />software and related financial process <br />improvements <br />2025 Annual Comprehensive Financial Report <br />(ACFR) <br />2027 Budget & Levy <br />2027-2036 Capital Improvement Program. <br />Fixed Asset internal audit <br />Complete Strategic Financial Plan <br />Annual update of Utility Study & 10-Year rate <br />planning <br />Review utility fees related to development <br />Review stormwater fee structure <br />Implement new utility payment system, new <br />billing design, and paperless bills <br />Implement/document new financial processes <br />city-wide <br />Expand utility communications with special <br />focus on water conservation <br />2025 Highlights <br />Updated Utility Study & 10-Year rate <br />planning <br />Started implementation of new financial <br />Software <br />2024 Annual Comprehensive Financial <br />Report (ACFR) <br />2026-2035 Capital Improvement Program <br />2026 Budget & Levy, including <br />implementation of expanded Budget Book <br />Started strategic financial planning process <br />Assisted Public Works with implementation <br />of Advanced Metering Infrastructure (AMI) <br />Software <br />Used AMI to track and notify customers of <br />water leaks <br />Implemented secure online application for <br />vendor ACH sign-up