Revenue Forecasting and Analysis - November 17-18, 2008No prerequisite Course Level: Introductory
CPE Credits: 16
2 Days 9 a.m. - 5 p.m., both days
Who Will Benefit
Budget analysts, forecasters, and other finance staff who are involved in preparing revenue forecasts.
Program
This seminar discusses the process of revenue forecasting as well as practical analytical methods. Instructors will demonstrate how to use Excel spreadsheet software as a tool for revenue forecasting and analysis through hands-on class exercises for preparing data, qualitative and quantitative analysis methods, and basic statistics. Recommended practices of GFOA and the National Advisory Council on State and Local Budgeting are incorporated into this seminar. To facilitate the objectives discussed in this course, participants will apply forecasting techniques on their own laptop computers in individual and group exercises and should, therefore, have a working knowledge of Excel spreadsheets and using data for analysis purposes.
Seminar Objectives
Those who successfully complete this seminar should be able to: - Define best practices in revenue forecasting
- Perform qualitative and quantitative revenue forecasting methods
- Prepare data for quantitative analysis (deflating, differencing,
- smoothing, normalizing)
- Define fundamentals of regression analysis and being a “smart
- consumer” of regression output
- Identify historic revenue patterns
- Identify influence factors that affect revenue patterns
- Choose and apply the appropriate forecasting method
- Determine the accuracy of the forecast
- Perform monitoring of actual revenues relative to the forecast
- Determine appropriate forecast revisions at regular intervals
The seminar also incorporates an introduction to the basics of revenue portfolio analysis, including:- Criteria for evaluating revenue sources
- Finding the weak spot in your revenue portfolio
- Diversification of revenue
- Pros and cons of various taxes
Recommended Reading
Revenue Analysis and Forecasting
An Elected Official’s Guide to Revenue Forecasting
Faculty
Glen Lee, Assistant Finance Director, City of Seattle, Washington James Pehrson, Assistant Comptroller, Cobb County Board of Commissioners, Marietta, Georgia Please note: A laptop computer with Excel spreadsheet software is required for class exercises in this seminar.
Registration Fees GFOA member: $580 Nonmember: $790 Register online Register by fax Hotel Information
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