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Navigating “what’s next”using local government financial data
IACC Conference, 2020
Duane Walz, Data and Business Systems Specialist Niles Kostick, Financial Management and Data Tools Specialist
So…what is next?
• FIT and its recent evolutions
• Scenario planning and those “what if” scenarios
• Data use around the globe (and for you, too), and
• The future
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Non-audit division provides resources and training to help governments help the people the serve
The Center for Government Innovation
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The Center offers a wealth of tools for governments• Financial Intelligence Tool (FIT)
• Customized Lean trainings
• #BeCyberSmart resources
• Training videos and technical assistance
• Best practices, guides, checklists and more
What to know before we begin
So let’s go.
What’s new and important for you.
The data timeline
May (filing deadline)
June 30, baseline snapshot
September 30, fall
snapshot
December 31, winter snapshot
March 31, spring
snapshot
ForecastingScenarioPlanning
Into unknown space..
…collections also took a severe initial hit, with April sales tax receipts falling 20.8% compared to the same period a year ago…
- Governor’s Office, October 13th, 2020
Washington state's projected $9-billion budget shortfall has been cut in half as sales tax revenue increases.
- Seattle Times, September 23, 2020
https://www.cbpp.org/research/state-budget-and-tax/states-grappling-with-hit-to-tax-collections
Forecasting
Historical & Current Data Quality Anticipatory
Scenario Planning
Considers Uncertainty Data Quality Anticipatory
What do you currently see or foresee happening this year?
A glimpse of FIT’s projection tool (beta)
Plan stronger!
How is the data used
Financial Condition. Data Analysis
Peer & Industry CompsBudgeting
Becoming a FIT champion has never been easier...
FIT Personal Training Sessions
What else?
In summary
• FIT and its recent evolutions
• Scenario planning and those “what if” scenarios
• Data use examples
• Becoming an expert and the future to come
