Add a projection to your financial data using FIT’s new feature
October 22, 2020A new reporting feature in the Financial Intelligence Tool makes it simple for a local government to project its data into the future.
… CONTINUE READING → Results for: Financial management
Options are available for moving to ‘no contact’ cash receipting
October 20, 2020The interactions between customer and cashier have become complicated by the pandemic. How do you collect payments but keep everyone safe? If you are exploring your options, here are some resources that might help you.
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Lessons learned: Schedule 06 and documenting bank reconciliations
September 29, 2020We’re jumping into some lessons learned from the 2020 filing season regarding Schedule 06 – Summary of Bank Reconciliations. Even if you don’t file a Schedule 06, these tips are useful when preparing any bank reconciliation, or other schedules or reports. These were identified as the most common areas of emphasis when SAO staff helped clients in 2020.
… CONTINUE READING → FIT’s indicators can strengthen any financial planning effort
September 17, 2020The Financial Intelligence Tool’s (FIT) financial health indicators provide “retrospective” measures of financial health based on historic data. However, any government can use these measures to help plan for the future.
… CONTINUE READING → FIT adds profiles to explore any of Washington’s 40-plus government types
September 10, 2020Our Financial Intelligence Tool (FIT) has long offered a way for users to examine data on specific governments, government types, and specific revenue or expenditure streams. For the first time, FIT has a way to view all important information on a specific government type in one place, using new government-type profiles.
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User-focused updates come to FIT’s financial health indicators
August 20, 2020Financial indicators have received a meaningful update in our Financial Intelligence Tool (FIT), making them even more useful by capitalizing on the power of FIT’s statewide collection of financial data.
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Getting CARES Act funding? Document, document, document
August 3, 2020What’s the best advice we can give you regarding use of and documentation for CARES Act funding? Document, document, and document some more. Read on for more guidance regarding this federal funding.
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What’s the scenario? Financial planning in uncertain times
July 1, 2020Many 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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Look to the future: Cash forecasting is key to strong financial controls
June 16, 2020It 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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When exploring financial options, remember these considerations
May 26, 2020Many 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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