FROM: Debby Cherney, Chief Executive Officer
SUBJECT: Triennial Strategic Plan for Fiscal Years 2023, 2024, and 2025
RECOMMENDATION:
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Adopt the Triennial Strategic Plan for Fiscal Years 2023, 2024, and 2025.
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BACKGROUND:
The SBCERA Board adopted its last Triennial Strategic Plan for Fiscal Years 2020 to 2022 on May 2, 2019. The Strategic Plan is built on five aspirational pillars which are:
* Operational Excellence and Efficiency
* Superior Service Experience
* Quality Employer and Workplace
* Prudent Fiscal Management
* Effective Communications
Under each Pillar, the Plan identifies a series of Strategic Priorities which are specific, actionable projects and programs intended to implement the Pillars. The priorities inform staff and the Board on how resources may be allocated - whether staffing needs, technology investments, and/or supporting consulting assistance.
Every six months since the Plan's adoption, staff has provided an update on its progress on the Strategic Priorities, adding some additional ones along the way. Among the completed priorities in the 2020-2022 Strategic Plan were (in summary):
* Significant efforts to achieve cost savings, improved internal controls and operational independence by evaluating the services previously contracted with the San Bernardino County.
* Modernized technologies and business continuity.
* Implementation of a new phone system, accounting and reporting software, and a new human resources/payroll system.
* Two member engagement surveys and an employer survey.
* Improved space utilization and refreshed workspaces, including a new first floor member consultation/meeting space.
* Improved transparency on budget, travel and expense reporting.
* The unwind of the offshore investment platform with significant cost savings and operational efficiency gains.
* Improved investment portfolio reporting with the Solovis platform.
* Design and implementation of a multi-year strategic communicat...
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