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webinar

Practical Methods of a Line-by-Line Budget Review for Local Governments

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Next Session: February 20, 2020 at 1 PM ET

PSD is pleased to introduce the second webinar in our Financial Services series. This webinar expands on previous financial analysis concepts and focuses on the organization’s budget.
 
Each year local governments are faced with increasing costs to deliver services. To continue to balance the budget, municipalities are usually left with four options: raise taxes, change service levels, use reserve funds, or delay infrastructure projects. However, any options considered should have a detailed financial analysis before long-term planning decisions are final. Line-by-line reviews are another tool available to help the finance office discuss and present budgeting options.
 
A line-by-line budget review, with a focus on expenditures, looks for significant or unusual variations in data trends in all of the organization’s budget GL accounts for all service areas (year-over-year). By taking the time to investigate these changes, the finance department can obtain additional insight into new options. A detailed analysis of the budget can help. In addition to identifying key areas to focus on for improvements and achieving efficiencies, a review could also help in reallocating monies to meet the organization’s needs more effectively. As a result of this exercise, the finance office can help empower their community to have new and improved information for allocating funds and supporting decision making about the necessary costs of services. 
 
In this informative webinar, PSD as a national leader on Government Public Sector (GPS) finance, will demonstrate the following:
  • How municipalities can benefit from a line-by-line review 
  • A real example of how line-by-line analysis offered new insights to a local government
  • Best practices for line-by-line and things to avoid in conducting a review such as:
    • How many years to consider when performing the analysis?
    • Should you focus on expenditures only or review revenues as well? 
    • Is a line-by-line analysis required for all services?
    • How to incorporate capital asset management activities
 

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