GFOA of the US & Canada

Site Key - Financial Recovery

Home Page - Recovery from Financial Distress

• Process for Recovering from financial Distress - Interactive Diagram
• GFOA Members who Contributed to this Site
• Stages of Financial Recovery
• 1. Recognition
• 1. Recognition – Enlisting Others, Engage the Audience
• 1. Recognition – Enlisting Others, Visualizing Data
• 1. Recognition – Enlisting Others, Using a Crisis to your Advantage
• 1. Recognition – Enlisting Others, Bringing in Outsiders
• 1. Recognition – Enlisting Others, Presenting Economic Data
• 2. Mobilizing
• Building a Core Recovery Team
• Developing Other Teams
• Analyzing Stakeholders
• 3. Generic Treatments
• 4. Initial Diagnosis
• Fiscal Health Model Example
• Fiscal Position and Parameters
• Budget Practices
• Liabilities 
• Political and Economic Environment 
• 5. Fiscal First Aid
• Primary Treatments
  
•  Treatments to Use with Caution
• Treatments to Use with Extreme Caution
• Treatments Not Advised
• 6. Detailed Diagnosis
• Category 1 - Political / Internal Causes of Financial Distress
• Category 2 – Internal, Economic/Technical causes of Financial Distress
• Category 3 – External, Political Causes of Financial Distress
• Category 4 – External, Economic/Technical
• 7. Recovery Plan
• A Portfolio of Strategies
• Comprehensive, Yet Concise Format
• Communicate Efficiently
• Use a Team Approach
• Consider Citizen Engagement Carefully
• 8. Long-Term Treatments
• Treatments by Cause of Distress
• Category 1 – Internal, Political
• Category 2 – Internal, Economic/Technical
• Category 3 – External, Political
• Category 4 – External, Economic/Technical
• 8. Long-Term Treatments by Topic
• Enhance Planning
• Reform the Budget Process 
• Address Long-Term Liabilities
• Contain Personnel Costs
• Improve Leadership and Management
• Increase Accountability
• Improve Efficiency
• Support Economic Development 
• Metropolitan Area Restructuring
• Improve Community Attachment
• Become More Innovative 
• Address Legal Constraints 
• 9. Long-Term Financial Planning
• What is a Long-Term Financial Plan?
• Why is Regular Long-Term Financial Planning Important?
• The Pillars of a Sound Financial Planning Process
• Major Phases in the Financial Planning Process
• Mobilization Phase
• Analysis Phase 
• Decision Phase 
• Execution Phase 
• Further Resources on Fiscal Distress
• Other GFOA Resources
• Books & Journal Articles used to Create this Site
•  Step 10 - Recovery Leadership
• Who is the Leader?
• Leadership Behaviors
• Leadership Credibility 
• Recovery Leaders and Elected Officials
• Communication
• Leadership Tasks in the Three Phases of Recovery
• Leadership Tasks in the Bridge Phase
• Initiate the Recovery Process
• Get a Handle on the Situation
• Build a Recovery Team
• Build Support for the Recovery
• Deal with Dissent
• Reform Phase 
• Transform Phase
• Step 11 - Manage the Recovery Program
• Crisis Management
• Develop Recovery Plan 
• Implement the Recovery Plan 
• Project Management 
• Keys to Project Management in a Recovery
•  S.M.A.R.T. Goals
• General Project Management Concepts
• Planning the Project 
• Mobilization 
• Implement the Project 
• Project Close-Out 
• Progress Reporting 
• Implementation Teams 
• Teambuilding for Temporary Teams
• Managing the Budget Process 
• 12. The Outcome of Recovery
•  Characteristics of a Financially Resilient Government
• 13. When Recovery Fails
• Definitions
• Definitions - Recovery Leader
• Definitions - Generic Treatments