Fiscal Forecasting & Scenario Planning COVID-19 Support

*For all local government peers & partners, we are offering free webinar training & 1-month free software subscription that provides guidance and instruction on how best to approach fiscal forecasting and scenario planning. See Fiscal Health video overview, training resources

plus webinar training schedule below. 

 

Please contact ResourceX VP of Customer Success

Eric Keck (ekeck@resourcex.net) to discuss and confirm

your interest in this opportunity. 

The COVID-19 pandemic has created unprecedented uncertainty across the country. Certain essential services are in need of ramped up funding for public safety, public health and economic support. And non-essential staff are still being funded, putting strain on emergency reserves.

  • How will your revenue streams be impacted by social distancing policies?

  • Can ear-marked funding for capital projects be redeployed to back-fill for revenue shortfalls?

  • What will short term, one-time efforts to ramp up emergency response mean for your long-term reserve policy?

  • How does your financial picture respond in the case of a summer-time reprieve and a “flattening of the curve”, and what might a fall-season return of COVID mean?

  • We want to help you model these scenarios, reduce uncertainty to the greatest extent possible, and build “what-if” scenarios to plan around.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Health Video Overview, Training Schedule + Support Materials

Video Overview

 

 

 

 

 

 

 

 

 

 

 

 

Training Schedule

Fiscal Health training consists of two courses: 

1. Data Organization & Entry

2. Scenarios, Initiatives and Analysis 

 

The webinar course schedule is listed below. Registration is free and is required.

Data Organization & Entry

Scenarios, Initiatives and Analysis

Open Fiscal Health Q & A Sessions​​​

  • Future webinar Q & A sessions - Friday, June 12, 2:00pm MT - Register here.

  • Future webinar Q & A sessions - Friday, June 26, 2:00pm MT - Register here.

For additional guidance on fiscal forecasting, see GFOA's Financial Forecasting in the Budget Preparation Process.

As a commitment to our client's success, we would like to offer you our Fiscal Health software *free of charge for one full month. Additionally, we have established a complimentary support package to get your fiscal data loaded and quickly train you on how to use this tool to efficiently model different fiscal forecasts and scenarios. 

 

 

 

 

 

 

 

 

 

 

 

 

 

Support Package   

  • One month of free access to Fiscal Health software tool

  • Online group accelerated training consisting of:

  1. Data – participants will be trained on the standardized template for collecting their own data, and loading it into the tools.

  2. Analysis – participants will learn the approach to differentiating ongoing vs one-time revenue and expenses, and will learn basic forecasting strategy.

  3. Scenario Building – participants will learn how to model forecasts and various “what if” scenarios

  • Access to recorded trainings to reinforce guidance and support

 

Please contact VP of Customer Success Eric Keck (ekeck@resourcex.net) to discuss and confirm your interest in this opportunity. 

 

Please click here for an overview of the Fiscal Health tool. Once confirmed, we will connect you with our Fiscal Health support specialist and get you registered for onboarding and training. And you will be quickly on your way to obtaining powerful forecasting tools to support your financial planning and recovery.

More About Fiscal Health

The Fiscal Health Tool provided a new visual tool to help facilitate budget discussions.  Modeling the Fiscal Health Tool allows staff to develop live scenarios to provide elected officials an instant picture of the financial impacts of their decisions.

 

One of the more powerful traits of this process is how it has equipped Council and staff that is resulting in new conversations around budget and resource allocation.

The key breakthrough in this area has been "data visualization" which allows for the easiest way of creating a common view, a common perspective that is simple and that everybody can agree on. 

Data Visualization allows us to create a common view of the financial situation that is simple to understand and interpret, describes the clearly defined variables that can impact the financial situation, allows for "live" and "real-time" changes in these variables, and offers the ability for "dynamic" modeling of "what-if" scenarios. 

Communicating that picture simply and clearly without volumes of numbers, spreadsheets, tables, and an endless series of charts is frankly a challenge that has plagued financial managers for years. 

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If local governments are going to be able to demonstrate financial reality internally to elected officials and staff, and externally to residents, they have to find better ways to make fiscal situations understandable and transparent to everyone. 

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