What can a fiscal forecast do for your jurisdiction? Management Partners’ Robert Leland recently completed a 20-year forecast for the City of Davis, California. Dan Carson, chairman of the Davis Finance and Budget Commission, sang the praises of the forecast in a recent article in The Davis Enterprise.
“Yes, I am an MBA and a government numbers nerd,” Carson wrote. “But before you think I am descending into obscure and total geek-dom, take a look at this plainly written, well-documented and concise explanation of the state of the city’s finances. It even has pictures, really interesting pictures, that tell some important stories.”
Carson continued: “In its June comments on the 2017-18 budget, our commission urged the City Council to use the financial forecast as the starting point for drafting a comprehensive financial strategy, one that might be updated periodically, to address the city’s financial challenges.
“We believe a mix of strategies — cost containment, leveraging of surplus city assets, economic development and other actions — should be considered alongside new tax measures in such a plan.
“But don’t take our word for this. Read the document yourself and tell us and your elected representatives what steps you think are needed now. We hope this additional transparency in city finances will empower you to help shape the critical fiscal decisions we all face as citizens.”
Forecasts aren’t just for cities; Leland has created them for counties too. You can find the Davis forecast here. And in 2015 Leland explained in Western City magazine how long-term fiscal forecasts work and what the benefits to local governments are.
To find out more about how a long-term forecast can make your local government more sustainable, contact Management Partners today.