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Long-Term Financial Planning for Governments
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LONGTERM FINANCIAL PLANNING GOVERNMENT A 2minute Overview
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Transcript of Long-Term Financial Planning for Governments
LONGTERMFINANCIAL PLANNING
GO V E R NM E N T
A 2minute Overview
S T R A T E G Y & F O R E C A S T I N G / B U D G E T I N G
Longterm financial planning consists of
defining a strategy within the constraints of a
forecast or budget.
WHAT IS IT?
E I G H T R E A L W O R L DB E N E F I T S
Incorporate financial perspective
Stimulate longterm thinking
Stimulate bigpicture thinking
Frame specific issues
Clarify strategic intent
Impose discipline
Communicate to citizens
Demonstrate good management
WHY DO IT?
7 C R I T I C A L C O M P O N E N T SF O R S U C C E S S
5 to 10year time horizon
Includes all funds
Periodically scheduled
Data & analysisbased
Strategies to reach financial balance
Monitoring & reporting
Visibility to electeds & public
ESSENTIALELEMENTS
4 S T E P S T H A T T U R N I N T OA C O N T I N U O U S P R O C E S S
Mobilization
Analysis
Decision
Execution
WHAT'S THEPROCESS?
MO B I L I Z A T I O N
The CEO/CFO/Financial Director:
WHAT'S THEPROCESS?
Outlines the process, purpose, and people
Gathers preliminary info (environmental scan)
Identifies services, policies, and priorities
Validates and/or creates financial policies
A N A L Y S I S
The CEO/CFO/Financial Director conducts:
WHAT'S THEPROCESS?
Fiscal environmental analysis
Revenue and expense projections
Debt analysis
Financial balance and imbalance analysis
D E C I S I O N S
The governing body makes decisions based on
analysis or servicelevel adjustments.
WHAT'S THEPROCESS?
E X E C U T I O N
The CEO/CFO/Financial Director executes the
decisions by putting decisions into effect and
monitoring/evaluation results and outcomes.
WHAT'S THEPROCESS?
LONGTERM FINANCIALPLANNING AT A HIGH LEVEL
SINCE
WE HUSTLE
StrategicPlan
SINCE
WE HUSTLE
LongTermFinancial Plan
SINCE
WE HUSTLE
CapitalImprovement Plan
Budget
Outcomes
BENJAMIN HART, CPA
QUESTIONS?
Vice President, Assurance Services
Allen, Gibbs & Houlik, L.C.
linkedin.com/in/benjaminhartcpa
@bohartcpa
316.291.4159
