Budgeting and Cash Flow Modeling in a Crisis for State and Local Governments
Course Description: The COVID-19 fiscal crisis for states and local governments has brought a renewed focus on the importance of budgeting and cash flow modeling for states and local governments. Governments nationally are already initiating furloughs, layoffs and scaling back operations. Tax revenue shortfalls have been recently estimated by Moody’s Analytics to range from 5.6% to 65.9%, in the best case and 8.2% to 79.6% in the worst case through fiscal 2021. Overall shortfalls through 2022 are estimated in the same report to be at least $450 billion. These shortfalls coupled with increased outflows due to COVID-19 costs necessitate at least monthly cash flow modeling for many governments. Hear and see some tools and techniques that can be used to be proactive during this crisis. Learning Objectives: -Discuss the estimates from reliable sources of revenue shortfalls -Compare how different types of governments will be impacted differently (i.e. cities, counties, special districts) -Examine the models built into Excel that can be used for budget planning and forecasting future budgets -Determine what to focus on in the model, understanding that missed estimates will occur -Discuss how best to react to changes and proactively adjust modeling to adapt
Date and Time
Monday May 18, 2020
1:00 PM - 2:00 PM CDT
May 18th from 1:00-2:00pm
Location
Webinar
Fees/Admission
Free
Website
https://www.eidebailly.com/insights/events/2020/5/budgeting-and-cash-flow-modeling-in-a-crisis-for-s
Contact Information
Rebecca Rozmark
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