New resource for local officials facing tough fiscal challenges
April 10, 2020
The Government Finance Officers Association has launched the Fiscal First Aid Resource Center for local public officials.
The Fiscal First Aid Resource Center from the Government Finance Officers Association (GFOA) is a set of resources to help local government finance officers through a financial crisis. County governments are already feeling the fiscal fallout from the COVID-19 pandemic and in the coming months, the chance that counties will see increased expenditures, decreased revenue or a combination of both is extremely likely.
The resource includes is a 12-step process called Fiscal First Aid: Recovering from Financial Distress. Access the guidance HERE.
Fiscal First Aid 12-step process:
- Step 1: Recognition
- Step 2: Mobilize
- Step 3: Generic Treatments
- Step 4: Initial Diagnosis
- Step 5: Fiscal First Aid
- Step 6: Detailed Diagnosis
- Step 7: Recovery Plan
- Step 8: Long-Term Treatments
- Step 9: Long-Term Financial Planning
- Step 10: Recovery Leadership
- Step 11: Manage the Recovery Process
- Step 12: The Outcome of Recovery
Additional resources from GFOA
- Working Remotely: A Guide for the Public Sector
- Cash is King: Short-Term Strategies to Slow the Flow of Money Out the Door and Keep the Budget Balanced