Fiscally Ready Communities: Budgeting for Fiscal Sustainability

August 25, 2021 10:00AM - 11:30AM


Contact: Eric Walcott

Fiscally Ready Communities: Financial Best Practices Webinar

MSU Extension and the Michigan Department of Treasury will cover the fundamentals of budgeting during uncertain economic times, tracking long-term fiscal health, and operational best practices. 

Michigan communities have experienced fiscal instability for a number of reasons, including the economic downturn resulting from the COVID-19 pandemic. This webinar will provide best practices for local government fiscal health, including budgeting, long-term planning, dealing with uncertainty, and financial policies and procedures.

Who should attend:


Elected and appointed officials in local government, administrators, and staff. 

This training is geared toward appointed and elected officials with entry and intermediate budgeting knowledge.

What will be covered:

  • The budget process and communicating your budget
  • Dealing with uncertainty in a changing economy
  • Understanding key financial variables, such as:
    • The “rainy day fund”/fund balance/net position
    • Understanding how the tax base provides revenue
    • Understanding volatile revenue
    • Forecasting revenue and expenditures
  • How to track your budget performance, including reviewing and amending your budget
  • How spending in the present will have an impact on the future.   

 What resources will be provided?

  • Detailed guides that outline strong policies and procedures each local government should have. These guides include a checklist to track what your local government already has, what you are working on, and next steps. 

Cost: Free

Dates:

  • August 25, 10-11:30 a.m. ET

Register

Tags: community, financial best practices, fiscal sustainability, government, local government, local government fiscal sustainability, msu extension, planning, virtual

Related People

Eric Walcott

Eric Walcott
walcott3@msu.edu