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ERMU Commission Policy—G.4c Strategic and Business Planning <br /> 2. Present to the Commission for approval a recommended Strategic Plan, a recommended <br /> Financial Plan, and a recommended Business Plan/Budget, as well as any subsequent <br /> changes to the approved plans that are needed to keep them relevant and effective. The <br /> Strategic Plan, as approved by the Commission, will include the high-level elements <br /> identified above. Consistent with the strategic direction approved by the Commission, <br /> management will implement, monitor, and periodically report to the Commission the status <br /> of the Strategic Plan through the use of goals, action plans, and performance measures. The <br /> Strategic Plan, Financial Plan, and Business Plan shall not materially deviate from the <br /> Commission's Authority and Purpose Policies. <br /> 3. Implement, if the Commission does not approve in a timely manner,the recommended <br /> Strategic Plan, Financial Plan, and Business Plan/Budget, as required to effectively manage <br /> the ERMU organization and utility enterprises. <br /> 4. Use the Strategic Plan as a guide and point of reference for preparing and updating the <br /> Financial Plan, Business Plan/Budget and other business management tools. <br /> 5. Communicate key elements of the Strategic Plan, Financial Plan, and Business Plan/Budget <br /> to ERMU's Commission, customers, employees, and other stakeholders at appropriate <br /> intervals to keep them well-informed about ERMU's operating environment, strategic <br /> direction and desired business and operational performance. <br /> 6. Report key business results and other operational outcomes to ERMU's Commission, <br /> customers, employees, and other stakeholders at appropriate intervals, using the Strategic <br /> Plan and Business Plan/Budget as a point of reference. <br /> Note: The ERMU Commission has established strategic and business planning as an important <br /> part of its own Governance Agenda(see Agenda Planning Policy). During the first quarter of <br /> each fiscal year (January - March), the Commission will review the most current adopted version <br /> of ERMU's Strategic Plan and Financial Plan, along with the results of the Business Plan/Budget <br /> for the preceding fiscal year. The Commission and Management will prepare, and the <br /> Commission will adopt an updated Strategic Plan and Business Plan/Budget before the end of <br /> each calendar year. During the second and third quarters of every third year, the Commission <br /> and Management will work together to re-develop, and the Commission will adopt a Strategic <br /> Plan for at least five (5) future fiscal years. Management will prepare, and the Commission will <br /> adopt during the fourth quarter(October—December) of each year a Business Plan/Budget that <br /> includes management's revenue/expense budget and projections, including relevant assumptions <br /> for two (2) future fiscal years. <br /> POLICY HISTORY: <br /> Adopted June 13, 2017 <br /> Page 2 of 2 <br /> 57 <br />