Modern Budget Cycle Management
Modern Budget Cycle Management
A new approach to planning, budgeting, reporting, and public engagement that creates thriving communities for local governments and school districts.
Behind every community looking to thrive lies an unseen struggle: Dedicated public finance professionals often find themselves working within a decades-old, outdated budget cycle. Inside this traditional budgeting cycle, public agencies’ budget processes are typically inefficient, don’t foster collaboration, and leave a lot of room for error.
Learn how to make your planning & tracking, budgeting, reporting, and engagement more efficient, collaborative, and transparent.
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These flaws endure within public agencies due to four key dilemmas in most traditional budgeting cycles:
- Budgeting is scoped too narrowly and doesn’t align well with long-term plans.
- Systems and processes for budgeting itself are often outdated and inefficient.
- Financial reporting possesses hurdles to easy collaboration and clear presentation.
- Communities’ financial transparency needs often remain unmet.
Clearly, a new budgeting model is needed—and modern Budget Cycle Management offers public agencies a better way to manage their budgets. This modernized strategic framework transforms budgeting into a holistic, efficient, and transparent set of financial management practices that any public agency can implement. Modern Budget Cycle Management combines planning & tracking, budgeting, reporting, and engagement into an interconnected budget cycle that advocates evolved practices for all four stages.
This comprehensive eBook outlines the Budget Cycle Management model and shows you:
- Why traditional planning & tracking, budgeting, financial reporting, and public financial engagement are antiquated in today’s fast-paced world.
- Best practices and clear-cut tips for adopting Budget Cycle Management principles within your organization, such as:
- How to align budgeting dollars with your strategic plans.
- How to use modernized processes and tools to make building budgets more efficient.
- How to ensure collaboration, consistent formatting, and clear presentation across financial reporting.
- How to present your budget and financial story in an engaging, transparent way to your community.
- Real-world examples of local governments and school districts implementing Budget Cycle Management in their planning & tracking, budgeting, financial reporting, and public engagement processes