Our Financial Intelligence Tool’s (FIT) “Add Projection” feature allows governments to adjust their known or anticipated revenues and expenditures, and then project those amounts into the future. Continue reading to learn how to access this feature and start projecting today.
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2020 was anything but normal, and we can look at the annual reports that Washington’s cities and towns recently submitted to see how the COVID-19 pandemic affected their operations. How did the pandemic affect sales tax collections? How did federal funding support our cities and towns as they navigated the economic challenges of the pandemic?
… CONTINUE READING → With new annual report filings from nearly 200 governments across the state since June 30, we’re excited to share our first quarterly update of the 2020 fiscal year financial data in the Financial Intelligence Tool (FIT).
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After hours of time and energy, you’ve submitted your annual report for fiscal year 2020. Congratulations! Now you may be asking, “Is there anything more I can do?” Our answer is, “Yes!”
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Cash is the heartbeat of government operations, especially for smaller cash basis governments. For better or worse, without cash there is no government spending. And without spending, there are no government services. As the old saying goes – cash is king! So how much cash is needed to keep a cash –basis government’s operations humming? The proper amount of “cash balance sufficiency” (CBS) for a government depends on each government’s spending priorities and what it hopes to accomplish for its citizens.
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If you are a local government user, the Financial Intelligence Tool’s (FIT) role-based functionality allows you to access your 2020 data right now!
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Sales tax represents about a quarter of all city and town revenues, but did you know that three Washington cities or towns derive more than 50 percent of their total revenues from sales tax? Can you guess which ones and why? Unlock the answers to these questions and a world of other sales tax data stories by opening our interactive infographic based on data from the Financial Intelligence Tool (FIT).
… CONTINUE READING → The Financial Intelligence Tool (FIT) refreshes quarterly with data submitted by local governments.
This most recent refresh added 23 more filers and brings the total local government data presented in FIT to 95 percent for fiscal year 2019.
… CONTINUE READING → We know local governments face significant challenges this year. The Center for Government Innovation can help governments be well informed when making difficult financial decisions.
… CONTINUE READING → A new reporting feature in the Financial Intelligence Tool makes it simple for a local government to project its data into the future.
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