The 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 → Our 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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Financial 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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What’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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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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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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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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Local governments are navigating many new areas while managing operations in response to coronavirus. We’d like to share some information so that everyone knows where to look for some important answers.
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