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Jazzing Up That Old Strategic Plan!

Jazzing Up That Old Strategic Plan!. Florida Government Finance Officers Association Annual Conference Wednesday, June 26 th , 2013 Boca Raton Resort and Club. Darrel L. Thomas, Assistant City Manager/COO City of Weston, Florida. Jazzing Up That Old Strategic Plan!. What we’ll cover:

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Jazzing Up That Old Strategic Plan!

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  1. Jazzing Up ThatOld Strategic Plan! Florida Government Finance Officers AssociationAnnual Conference Wednesday, June 26th, 2013Boca Raton Resort and Club Darrel L. Thomas, Assistant City Manager/COO City of Weston, Florida

  2. Jazzing Up That Old Strategic Plan! What we’ll cover: • Why have strategic and financial plan? • How to get started? • How to get coordinate input from departments? • How to sell management? • How to sell elected officials? • What to do when its complete?

  3. Jazzing Up That Old Strategic Plan! What in the world do I need a plan for?

  4. Jazzing Up That Old Strategic Plan!

  5. Jazzing Up That Old Strategic Plan!

  6. Jazzing Up That Old Strategic Plan! So how do I get started?

  7. Jazzing Up That Old Strategic Plan! Gather up all your data.

  8. Jazzing Up That Old Strategic Plan! Consolidate the data into one, useful tool called a...

  9. Jazzing Up That Old Strategic Plan!

  10. Jazzing Up That Old Strategic Plan! Develop some assumptions going forward.

  11. Jazzing Up That Old Strategic Plan! Press the button. Wait not that one!

  12. Jazzing Up That Old Strategic Plan! Yes, that one!

  13. Jazzing Up That Old Strategic Plan! And voilà! It should look something like this…

  14. Jazzing Up That Old Strategic Plan!

  15. Jazzing Up That Old Strategic Plan! The lack of visibility was not by accident! Haha!!

  16. Jazzing Up That Old Strategic Plan! Let’s take a step backwards for a moment.

  17. Jazzing Up That Old Strategic Plan! Perform a SWOT Analysis Not that one!!

  18. Jazzing Up That Old Strategic Plan! Strengths Weaknesses Opportunities Threats

  19. Jazzing Up That Old Strategic Plan! Strengths What do you do well? Relative Advantages Internal

  20. Jazzing Up That Old Strategic Plan! City of Weston Strengths • Location (Proximity to major highways, cities, airport, seaport) • Age (Relatively new infrastructure) • Organizational Structure (Contract-style) • Reserves (Always good to have some!) • Demographics (Young, culturally diverse, higher than median education and incomes) • Technology (Staying current allows max productivity)

  21. Jazzing Up That Old Strategic Plan! Weaknesses What do you not do well? Relative Disadvantages Internal

  22. Jazzing Up That Old Strategic Plan! City of Weston Weaknesses ZERO, NONE, NADA, NIL, ZILCH

  23. Jazzing Up That Old Strategic Plan! City of Weston “Hypothetical”Weaknesses • Location (Close proximity to Everglades, levies, and major highways) • Organizational Structure (Very flat - not a lot of depth, some contractors have other clients to serve, individuals are re-allocated, coordination and/or communication sometimes difficult, policies and/or procedures are not always documented)

  24. Jazzing Up That Old Strategic Plan! Opportunities What could you exploit? Prospects External

  25. Jazzing Up That Old Strategic Plan! City of Weston Opportunities • Consolidation/regionalization/privatization of services • Expansions at the airport and seaport • Enhancements along I-595 and I-75 • Consolidation of E-911 system in Broward County • Dissolution of the Resource Recovery Board

  26. Jazzing Up That Old Strategic Plan! Threats What could trouble you? Dangers External

  27. Jazzing Up That Old Strategic Plan! City of Weston Threats • “A” - THE STATE LEGISLATURE • “B” - THE GOVENOR • “C” - ALL OF THE ABOVE!! • Healthcare, pension & OPEB costs • Demographics – changes in service demands • And oh yeah…

  28. Jazzing Up That Old Strategic Plan!

  29. Jazzing Up That Old Strategic Plan! Use your SWOT Analysis along with other information and data trends to develop your assumptions of future outcomes.

  30. Jazzing Up That Old Strategic Plan! What do you do with all this information?

  31. Jazzing Up That Old Strategic Plan! Let’s fast forward for a moment.

  32. Jazzing Up That Old Strategic Plan!

  33. Jazzing Up That Old Strategic Plan! A Capital Improvement Plan (CIP) forces you to project your entire plan out 10+ years.

  34. Jazzing Up That Old Strategic Plan! Meet with stakeholders to develop a list of capital items.

  35. Jazzing Up That Old Strategic Plan! Meet in a smaller group of senior management to prioritize the list of capital items.

  36. Jazzing Up That Old Strategic Plan! Develop funding sources and integrate the projects into your projection starting with the highest priority projects first.

  37. Jazzing Up That Old Strategic Plan! Integrate debt service payments or reserve accruals (“pay go”) into the Plan.

  38. Jazzing Up That Old Strategic Plan! If it goes well it should look like this… Cute isn’t it?

  39. Jazzing Up That Old Strategic Plan! At this point you should have: • A 10-year projection of operating revenues and expenses • A SWOT Analysis – most helpful in forecasting and crisis prevention management • A 10-year CIP with estimated start and completion dates, funding sources, debt service payments, reserve accruals, etc. • What else would it help to have??

  40. Jazzing Up That Old Strategic Plan!

  41. Jazzing Up That Old Strategic Plan! Just kidding! Instead how about?: • A Reserve Schedule listing minimum, maximum and desired reserve amounts to support your reserve accrual calculations. • An Assumptions Schedule listing the trend estimates used in the 10-year projection. • Key financial policies supporting the decisions incorporated into the Plan.

  42. Jazzing Up That Old Strategic Plan! Now the money pitch...

  43. Jazzing Up That Old Strategic Plan! Hold a workshop with your elected officials.

  44. Jazzing Up That Old Strategic Plan! Every elected official’s biggest concern is always…

  45. Jazzing Up That Old Strategic Plan! Make sure you’ve projected taxes in a smart, responsible manner…

  46. Jazzing Up That Old Strategic Plan! This is easier to sell…

  47. Jazzing Up That Old Strategic Plan! Then meet with each elected official individually.

  48. Jazzing Up That Old Strategic Plan! Make minor accommodations where appropriate.

  49. Jazzing Up That Old Strategic Plan! Get the elected officials to accept or adopt the Plan.

  50. Jazzing Up That Old Strategic Plan! And you’re done!! Well, not quite…

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