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

Presenters:
Eric S. Berman, MSA, CPA, CGMA, Partner
Eric is a nationally recognized speaker, author, thought leader and auditor with a wealth of government client experience. He brings a unique perspective to the firm's clients as a former Deputy Comptroller of the Commonwealth of Massachusetts, a chief financial officer of a state agency and an audit partner with clients ranging from a well-known stadium to statewide pension systems.

Cindy Byerrum, CPA, Partner
Cindy has specialized in serving special districts for over 15 years, with specialties in the water/sewer industry, fire protection, libraries and resource conservation districts. Cindy also assists multiple LAFCOs with all their accounting and finance needs.

CPE Information
CPE Credits: 1
Field of Study: Accounting (Governmental)
Level of Knowledge: Intermediate
Delivery Method: Group-Internet Based

Additional Information:
This is a web-group seminar. No prerequisites or advanced preparation required. For information regarding refund, complaint and program cancellation policies, please contact Jason McKeever at 612.253.6628.