To fulfill our fiscal responsibilities, LACERA must apply thorough analysis and the right organizational tools. Our focus is on improving our decision-making and planning capabilities, management and administration of resources, and return on investment outcomes.
Goal: Exercise care and prudence in managing our resources and fund assets. Learn more about our strategic priority and how we'll reach our goal.
Tracking Specific Goals and Progress
At LACERA, we believe in the power of setting and sharing organizational goals. We understand that steady, incremental progress is the key to success and that transparency is essential in fostering a collaborative and accountable environment. To provide organizational transparency, we will be regularly tracking and updating our progress toward each of our stated goals.
| Objective Milestones | Status | Start | Expected Completion |
|---|---|---|---|
| 1. Create team to define objective goals and initiatives | Completed | 10/2023 | 01/01/2024 |
| 2. Finalize Certify AP Implementation | Completed | 10/2023 | 02/28/2024 |
| 3. Finalize Budget software (Questica) Implementation Complete full budget cycle | On Schedule | 10/2023 | 06/30/2024 |
| 4. Finalize Contract, Vendor solution (Cobblestone) implementation, Train Users | On Schedule | 10/2023 | 06/30/2024 |
| 5. Design and Implement Centralized Vendor Mgmt. Program | On Schedule | 10/2023 | 07/01/2024 |
| 6. Update Procurement Policy | On Schedule | 10/2023 | 07/01/2024 |
| 7. Create Non-Administrative Budget in Questica | On Schedule | TBD | 12/31/2024 |
| 8. Design and Assess Scope of ERP & Timing of Acquisition – Consultant Only | Not Started | TBD | 06/30/2025 |
| 9. Design and Deliver a Comprehensive Financial Training for Managers | Not Started | TBD | 06/30/2025 |
| 10. Design and Deliver Basic Financial Training for Staff | Not Started | TBD | 06/30/2025 |
| 11. Implement Travel Module for Certify AP or equivalent | Not Started | TBD | 06/30/2025 |
| 12. Automate the budget book publishing | Not Started | TBD | 06/30/2025 |
| 13. Design and Deliver a Comprehensive Financial Training for Supervisors (1-30/2026) | Not Started | TBD | 01/30/2026 |
| Objective Milestones | Status | Start | Expected Completion |
|---|---|---|---|
| 1. Create team to define objective goals and initiatives. Investment team in collaboration with FASD and Legal led jumpstart during 2023 BOI offsite | Completed | 09/2023 | 01/01/2024 |
| 2. Review of existing policy and discussion of desirable elements | Completed | 10/2023 | 12/01/2023 |
| 3. Schedule meetings among workgroup to develop draft of new policy | On Schedule | 10/2023 | 03/21/2024 |
| 4. FASD and LACERA Actuary (Milliman) to draft separate interest crediting proc. | On Schedule | 01/2024 | 04/30/2024 |
| 5. Seek approval of funding policy and interest crediting by LACERA ECC | Not Started | TBD | 05/24/2024 |
| 6. Prepare cover memo and presentation for June BOI meeting | Not Started | TBD | 05/31/2024 |
| 7. Recommend adoption of new policy at BOI Meeting | Not Started | TBD | 06/12/2024 |
