COVID-19 continues to impact local government budgets, and ResourceX offers a pathway to action to address challenging circumstances and difficult decisions
DENVER, Dec. 3, 2020 /PRNewswire/ -- Actions taken at the federal, state, and local levels in response to the worldwide pandemic have affected every organization and business in some way. Local governments are facing lost revenues from decimated sales tax, deferred capital projects that impact infrastructure at all levels, and job losses and furloughs in addition to general fears and uncertainties about the impact this disease will have on the communities they serve. ResourceX, a Denver Business Journal Fast 50 2020 finalist, is a small company making a significant impact by providing the tools and methodologies to address these issues at the local government level.
The unknown duration and impact of COVID-19 on society and businesses require local governments to be proactive in managing their financial stability. Through Priority Based Budgeting and the data created through OnlinePBB, cities and counties are armed with the data needed to communicate and make the difficult decisions that make a huge impact on every citizen's welfare.
Co-Founder and CEO Chris Fabian created the Priority Based Budgeting methodology to respond to the Great Recession of 2008, and its application in 2020 is both important and relevant. Priority Based Budgeting creates a programmatic language for communicating the organization's services, associates a total cost to each program, and aligns every program to the city's or county's priorities. Through the OnlinePBB software, not only can organizations establish the status quo, but they can look to the future with the assignment of Insights and associate the budget impact with the decisions that must be made.
In 2020, PBB was further incorporated into the budget process. The economic circumstances caused by the COVID-19 pandemic presented numerous budget challenges, but the City was fortunate to already have the PBB data available to help make difficult budget decisions. The opportunities defined in the PBB Blueprint were made the primary means of justifying budget changes and requests by departments.
-Mark Relph, City Manager, City of Littleton, Colorado
ResourceX works with over 50 organizations of all sizes in the US and Canada to help achieve the desired outcomes. For a list of organizations utilizing ResourceX's OnlinePBB software, please visit https://www.resourcex.net/communities.
ResourceX's Priority Based Budgeting (PBB) platform is a leading best practice in local government and can be a powerful lever for change in your community. ResourceX provides the software solution and powerful analytic tools to create program based business intelligence and implement a priority based budget using data and evidence to transparently and exponentially improve results for your community. Priority based budgeting is a growing movement across North America. ResourceX has partnered with over 200 cities, counties, school districts, special districts, and non-profit organizations in the US and Canada to implement and apply PBB data for actionable decision-making.