Many of you are attempting to anticipate the length or depth of the financial impacts of the pandemic. This will be difficult to predict, which makes financial planning challenging. One important tool available to help you in these circumstances is scenario planning.
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The Center for Government Innovation, a service to local governments provided by the Washington State Auditor’s Office, has been working hard to bring some new resources to local governments, including cities. We’d like to tell you about a few new items, plus what’s on the near horizon to be published!
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COVID-19 has challenged many governments to consider remote work strategies and how their work processes would need to change. Process improvement specialists have started gathering – virtually – to share their experiences and lessons learned during the pandemic. We are calling these sessions “Virtual Lean Coffee.”
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It is critical to forecast your cash inflows, outflows, and balances into the near-term future to anticipate liquidity shortfalls and remain solvent. Annual budgets tell you your spending authority for a year, whereas a cash forecast will tell you whether you have sufficient cash in the future on a month to month (or even daily) basis.
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We’ve encouraged local governments to step up their documentation practices. If you still need convincing to document, document, document, here are five reasons you should do it.
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As your employees continue to telework, they might be handling, transferring and storing confidential data at home differently than they did at their usual work location. Learn how to protect this information in this new work environment.
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Many governments are feeling the pressure on their general fund and looking at cost cutting and other measures. Here are some areas you might be looking at and some tips and resources to keep in mind.
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A cost allocation plan takes some work to set up and carry out, but it can take some pressure off of the general fund. Here are some helpful tips and resources should you decide to go that route.
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If the COVID-19 crisis is hurting your local government’s cash flow, you might be looking to borrow from restricted funds. Here are a few things to keep in mind.
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These undoubtedly are stressful times. However, building resilience now might help you not just cope now but even improve how you respond to difficult situations in the future.
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