navigating “what’s next”

Navigating “what’s next”using local government financial data

IACC Conference, 2020

Duane Walz, Data and Business Systems Specialist Niles Kostick, Financial Management and Data Tools Specialist

So…what is next?

• FIT and its recent evolutions

• Scenario planning and those “what if” scenarios

• Data use around the globe (and for you, too), and

• The future

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Non-audit division provides resources and training to help governments help the people the serve

The Center for Government Innovation

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The Center offers a wealth of tools for governments• Financial Intelligence Tool (FIT)

• Customized Lean trainings

• #BeCyberSmart resources

• Training videos and technical assistance

• Best practices, guides, checklists and more

What to know before we begin

So let’s go.

What’s new and important for you.

The data timeline

May (filing deadline)

June 30, baseline snapshot

September 30, fall

snapshot

December 31, winter snapshot

March 31, spring

snapshot

ForecastingScenarioPlanning

Into unknown space..

…collections also took a severe initial hit, with April sales tax receipts falling 20.8% compared to the same period a year ago…

- Governor’s Office, October 13th, 2020

Washington state's projected $9-billion budget shortfall has been cut in half as sales tax revenue increases.

- Seattle Times, September 23, 2020

https://www.cbpp.org/research/state-budget-and-tax/states-grappling-with-hit-to-tax-collections

Forecasting

Historical & Current Data Quality Anticipatory

Scenario Planning

Considers Uncertainty Data Quality Anticipatory

What do you currently see or foresee happening this year?

A glimpse of FIT’s projection tool (beta)

Plan stronger!

How is the data used

Financial Condition. Data Analysis

Peer & Industry CompsBudgeting

Becoming a FIT champion has never been easier...

FIT Personal Training Sessions

What else?

What else?

In summary

• FIT and its recent evolutions

• Scenario planning and those “what if” scenarios

• Data use examples

• Becoming an expert and the future to come

Duane.Walz@sao.wa.gov

Niles.Kostick@sao.wa.gov

Center@sao.wa.gov