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Item No. 12 <br />Memorandum <br />TO: Mayor, Mayor Pro -Tem & City Council <br />FROM: Rose Beverly, City Manager <br />SUBJECT: OPEN SERVICES AGREEMENT FOR STRATEGIC FINANCIAL <br />PLANNING PROFESSIONAL SERVICES <br />DATE: August 11, 2025 <br />BACKGROUND: Due to rising operational costs and many consecutive years of tax rate <br />reductions, the City is projected to rely on General Fund reserves during the current fiscal year. <br />This trend appears to be ongoing and is not fiscally sustainable. <br />STATUS OF ISSUE: We would like to work with Mr. Garrett from NewGen Strategies and <br />Solutions to develop financial forecasts and strategic financial planning to help guide the City <br />toward a more fiscally responsible path. <br />BUDGET: $15,000.00 <br />RECOMMENDATION: Approve the agreement with New Gen for strategic financial planning <br />professional services. <br />