Long-term financial forecasting for local governments.
Government Finance Review › Vol. 24 Nbr. 5, October 2008
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Summary
Financial planning
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Long-term financial forecasting for local governments.
Cities, counties, and other local government agencies are increasingly adopting long-term financial forecasting as a critical component of their financial management practices. Too many governments have found out the hard way what can happen in the absence of a realistic forecast model, one that projects and quantifies the impact of potential revenue shortfalls and increased liabilities well into the future. Forecasts can be used to create a strategic context for evaluating the annual budget, to establish a baseline for measuring the long-term effects of decisions, to test the economic effects of best-case and worst-ca...
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