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Product ID: 391649EAU
 
Credit & Course Provided by:

Best Practices in Budget Development and Analysis

OnDemand Webinar (86 minutes)

In difficult fiscal times many budget officers and municipal managers begin the process by a rather simple approach: revenues are down 10%, we need to cut the budget by 10%. Then they wait for the battles to begin, internally with department heads, externally with council members and other public stakeholders. This OnDemand Webinar will provide budget preparers with a comprehensive framework for preparing the budget to meet the realities of revenue constraints, set priorities, build consensus, and avoid unproductive budget negotiations. You will learn how to invest your time upfront to gather the data and other information, as well as use effective tools to analyze, prepare and propose an effective budget that meets the fiscal and policy objectives of your governmental unit.

Learning Objectives:

  • You will be able to define and analyze historic revenue performance against historic expenditure performance.
  • You will be able to explain how to build internal consensus for your budget priorities.
  • You will be able to review how to build external stakeholder consensus around budget priorities.
  • You will be able to identify how to be flexible, prepare best and worst case scenarios and their impacts on the budget and reserves.

Authors

Herschel Frierson, Crowe Horwath LLP
Bert Nuehring, Crowe Horwath LLP

Agenda

In Difficult Financial Times It Is Critical to Set Fiscal and Consensus Building Framework Prior to Building and Presenting the Budget

• Analyze Historic Revenue Performance Against Historic Expenditure Performance

• Identify Your True Baseline Budget

• Don't Forget to Include Operational Impacts From Capital Improvement Plan

Build Internal Consensus for Your Budget Priorities

• Create a Fiscal Framework or Big Budget Fence

• Build a Relationship With Department Heads Using Data to Support the Discussion

• Establish Budget Priorities Based on First Dollar of Revenue, e.g., First Dollar Goes to Unavoidable Expenses Such as Baseline Salaries

• Establish Priorities Any New Revenue Over Current Baseline

Build External Stakeholder Consensus Around Budget Priorities

• Meet With Council Members Before Finalizing Budget, e.g., Hold a Budget Retreat

• Use Objective Sources of Information to Support Your Case for Revenues, Expenditures, Reserves, etc.

• Be Flexible, Prepare Best and Worst Case Scenarios and Their Impacts on the Budget and Reserves