Tips to help municipal officials assess financial health and head off fiscal crisis:
• Identify volatile revenue sources, such as tax and criminal fine revenues
• Produce externally audited financial reports annually
• Create five-year financial forecasts; monitor with quarterly reports
• Hire experienced staffers, offer staff training and evaluate employee performance
• Appoint community members to a budget review committee
• Discuss financial concerns openly with citizens, employees, religious and nonprofit groups and others
• Evaluate community priorities to identify essential city services
• Research state aid options
Need help? Know where to turn:
• Financial advisors and management consultants
• International City/County Management Association
• Government Finance Officers Association
• National League of Cities
• National Association of Counties
• Other local governments
