Budgeting for Success Amid Uncertainty

Bitten by the boom-and-bust budgeting that typified the last pre-recession era, many local government agencies have since budgeted more cautiously given strained resources and many still function at pre-recession levels. Yet, as the Wall Street Journal noted late last year, “The U.S. must face one of two scenarios: Either the next president will face a recession in office, or the U.S. will have the longest economic expansion in its history.” The reality is that while the recession has been long and gradual, it cannot continue forever, highlighting the very real potential that local governments of all stripes may soon have to contend with further strained resources. Indeed, a recent National Association of State Budget Officers (NASBO) report found that nearly half of all states are facing revenue shortfalls in the coming year.

Between the prospects of reduced state funding and existing strains on local revenue sources, preparing for a slowdown requires preparing amid substantial uncertainty. As local government leaders and finance professionals seek stability, their budget planning processes will need to be more nimble -- capable of monitoring ongoing financial and operational performance, modeling budget scenarios and planning accordingly, and strengthening buy-in among critical stakeholders.

Join municipal leaders Bill Statler, Former Finance and IT Director of San Luis Obispo, CA; Hyun Kim, Finance Director of Boulder City, NV; and Mike McCann, Former Finance Director of Ukiah, CA and OpenGov’s VP of Government Finance Solutions in this video as they share their strategies for modernizing their governments’ budget planning, from analyzing ongoing monthly and multi-year financial trends, to budgeting strategically to achieve operational stability, to ultimately engaging stakeholders and preparing them for success amid uncertainty.

In this video you will learn how local leaders are leveraging technology to:

  • Streamline their reporting and tracking of budgeted to actual financials
  • Evaluating and balancing departmental priorities
  • Creating interactive visualizations of “what-if” scenarios

PRESENTED BY:
  • Bill Statler

    Bill Statler has over 30 years of senior municipal financial management experience, including serving as the Director of Finance & Information Technology/City Treasurer for the City of San Luis Obispo for 22 years and as the finance officer for the City of Simi Valley for 10 years before that. Bill has since entered the “third act” of his career by providing financial management advice and training to local government agencies.
  • HYUN KIM

    Hyun Kim is the Finance Director of Boulder City, Nevada. Prior to his current role, he served as the Town Administrator of Afton, Wyoming and as Community Development Director of Pinedale, Wyoming, in addition to working within private sector finance. He holds an MPA from Brigham Young University, an MBA from Western Governors University, and a BS in Public Administration from University of Nevada - Las Vegas.
  • Mike McCann

    Before joining OpenGov, Mike served as the Finance Director of Ukiah, California, and the Assistant Finance Director of Monterey, California, where he was responsible for Budget, CAFR and operational reporting. Previously, he held CFO positions at a Silicon Valley start-up and a non-profit organization that provided federal- and state-funded job-training services. Mike has also held positions with Blue Shield of California, Wells Fargo and ADP. He holds an MS in Instructional Science and Technology from California State University Monterey Bay and a BS in Accounting from San Jose State University. He served with the U.S. Army Security Agency in Vietnam and Japan.

Budgeting for Success Amid Uncertainty

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