Financial Health - May 2026

Progress on Financial Health as of May 26, 2026
Date: Jan 1, 0001
Vision

South Metro Fire Rescue will be the national benchmark for innovative, data-driven fire and emergency services, setting the standard for excellence in all-hazards response, community safety, and organizational health.

Mission

To protect and enhance the quality of life for the communities we serve through prevention, preparedness, and emergency response.

Values

Excellence through professionalism, accountability, compassion, and engagement.


Key Focus Area:
Financial Health 34% progress

Lead: Stephanie Corbo
We maintain financial health through customer-focused, efficient, data-informed long-term planning that aligns with our strategies, major projects, and initiatives. We ensure a culture of fiscal responsibility and cost-efficiency by using best practices and constant evaluation to demonstrate our value as stewards of public funds. This disciplined approach ensures that our budget remains predictable and resilient, allowing us to meet community needs today while remaining adaptable for the future.
Latest Comment: We have achieved an unmodified opinion on ACFR and maintained designation of Low Risk Auditee since 2022

SMART Objective:
Plan and report out on how we spend our money 25% progress

Latest Comment: 7A reporting structure here is for Board reports and information, the public facing communication is addressed in SMART Objective #3.
Action Step Deadline Status
Quarterly report for 1st quarter 5/1/2026 Complete
Prepare annual comprehensive financial report (ACFR) and achieve unmodified opinion 6/30/2026 In Progress
Prepare annual budget 12/15/2026 In Progress
Report on 7A revenue spending - for Board report 6/30/2027 Not Yet Started
Enhance content of quarterly report (add cost savings, add projects, add disposal) 6/30/2027 Not Yet Started
Quarterly report for 2nd quarter 7/30/2027 Not Yet Started
Quarterly report for 3rd quarter 9/30/2027 Not Yet Started
Quarterly report for 4th quarter 1/30/2028 Not Yet Started

SMART Objective:
Improve procurement process: maximize value and realize savings through competition 68% progress

Latest Comment: None
Action Step Deadline Weight Status
Update Procurement Policy within Standardization Manual 7/3/2026 High In Progress
Train Budget Owners on Procurement Process 7/31/2026 Medium In Progress
Create Schedule for Solicitation 12/31/2026 Medium Complete
Solicit Highest Risk Expenditures 12/31/2026 Medium Operationalized
Create and Maintain Centralized Document Management System 12/31/2026 Medium In Progress

SMART Objective:
Create transparent reporting on all revenue 0% progress

Latest Comment: Internal report on 7A is included in SMART Objective #1
Action Step Deadline Status
Set up annual report that shows what 7A revenue funded or assigned - on our webste 4/1/2027 Not Yet Started
Partner with Communication to get community update polling every 1-2 years 11/1/2028 Not Yet Started

SMART Objective:
Discover opportunities to meet service delivery at lower costs 0% progress

Latest Comment: None
Action Step Deadline Status
Evaluate right resource for job: example approvals + vehicle being used for the job 12/31/2026 Not Yet Started
Define cost of service deployment all division bureau 12/31/2028 Not Yet Started

SMART Objective:
Standardize financial policies 83% progress

Latest Comment: None
Action Step Deadline Status
Conduct outreach with stakeholders 4/17/2026 Complete
Establishing a cross functional review team 5/1/2026 Complete
Bind all financial policies in one comprehensive manual 7/1/2026 In Progress

SMART Objective:
Improve the ERP Financial System and Processes 42% progress

Latest Comment: None
Action Step Deadline Status
Changing ERP consultants 7/15/2026 In Progress
D365 System Architect 9/1/2026 In Progress
System Diagnostics 11/30/2026 In Progress
Improve inventory management system 12/31/2026 In Progress
Training and guides for end users 1/29/2027 In Progress
Financial Reporting Solution 2/1/2027 Not Yet Started

SMART Objective:
Funding requirements identified for all assets and services 33% progress

Latest Comment: None
Action Step Deadline Status
Extend Long-Range Financial Planning to Full Replacement Cycle 6/30/2026 In Progress
Define Fund Balance Targets 9/15/2026 In Progress
Balance expenditures with expected revenues 9/15/2026 Not Yet Started

SMART Objective:
Configure financial systems for efficiency and effective financial management and reporting 30% progress

Latest Comment: None
Action Step Deadline Status
Address Finance Team Capacity by hiring an Analyst 9/1/2026 In Progress
Reestablish quarterly meeting cycle 10/30/2026 Not Yet Started
Build Reporting Functionality for End Users and Finance 12/31/2026 Not Yet Started
Refine Data Components that Integrate into ERP System (i.e., UKG, TeleStaff, banks, purchasing cards, Logistics inventory, Invoices, etc.) 12/31/2026 In Progress
Foster proactive ownership of divisional budgets 12/31/2027 In Progress

SMART Objective:
Analyze Long-Range Capital and Asset Needs 0% progress

Latest Comment: None
Action Step Deadline Status
Define how costs increase over time - inflation 6/30/2026 Not Yet Started
Identify full capital replacement schedule -- new capital needs too 11/30/2026 Not Yet Started
Full inventory of all assets - deal life; maintenance; cost of replacement 11/30/2026 Not Yet Started
Define growth needs -- population; demographic changes; linked growth factors 11/30/2027 Not Yet Started
Capture links between service & support needs - triggers/drivers 11/30/2027 Not Yet Started

SMART Objective:
Identify industry standards 0% progress

Latest Comment: Best practices, industry standards like line staff ratios over time, what should be expected, what do others do, how do they design it?
Action Step Deadline Status
Link standards in resources/model 12/30/2027 Not Yet Started

SMART Objective:
Seek additional opportunities for revenue 17% progress

Latest Comment: None
Action Step Deadline Status
Pursue grant opportunities through research 8/31/2026 Not Yet Started
Pursue congressionally directed spending grants 7/1/2027 In Progress
Develop a philosophy of cash vs. borrowing (debt/bonds) 5/15/2028 Not Yet Started

SMART Objective:
Evaluate overtime trends and identify efficiencies 67% progress

Lead: Matt Weller

Latest Comment: None
Action Step Deadline Status
Created data model for UKG, Telestaff and D365 data 5/1/2026 Complete
Identified overtime reporting variables and categories 7/1/2026 In Progress
Monthly Board education 12/31/2026 In Progress

Metric: Building Rental Fund Balance

Most Recent Measure: $396,563.00
Measurement as of December 31, 2025
Tracking

Bldg Rental Fund Balance
Dec 2025
$396,563
$
No target

Metric: Capital Replacement Fund Balance

Most Recent Measure: $47,983,978.00
Measurement as of December 31, 2026
Tracking

Tracks the balance of the capital replacement fund used for planned replacement of apparatus, equipment, and facilities per the district's adopted capital improvement plan.

Capital Replacement Fund Balance
Dec 2026
$48M
$
No target

Metric: Cherry Hills Fund Balance

Most Recent Measure: $1,455,373.00
Measurement as of December 31, 2025
Tracking

Cherry Hills Fund Balance
Dec 2025
$1.46M
$
No target

Metric: Monetary saving from procurement competitive process

Most Recent Measure: $391,084.00
Measurement as of March 31, 2026
Tracking

We are measuring the savings from our competitive bid process.

Competitive Solicitation
Mar 2026
$391,084
Dollars
No target

Metric: General Fund Balance

Most Recent Measure: $56,233,744.00
Measurement as of December 31, 2025
Tracking

General Fund Balance
Dec 2025
$56.2M
$
No target

Metric: Overtime Expenditures

Most Recent Measure: $14,489,015.12
Measurement as of December 31, 2025
Tracking

Overtime Expenditures
Dec 2025
$14.5M
$
No target

Metric: Reserve Threshold

Most Recent Measure: 31.00%
Measurement as of December 31, 2025
On Target | At or above target is better.

Reserve Threshold
Dec 2025
31.00%
%
Target: 23.00%

Metric: Self Insurance Fund

Most Recent Measure: $3,821,086.00
Measurement as of December 31, 2025
Tracking

Self Insurance Fund
Dec 2025
$3.82M
$
No target

Metric: YoY Property Tax Change

Most Recent Measure: 32.30%
Measurement as of January 1, 2026
On Target | At or above target is better.

YoY Property Tax Change
Jan 2026
32.30%
%
Target: 3.31%