GFOA Publishes Informed Decision-Making Through Forecasting: A Practitioner’s Guide to Government Revenue Analysis

Thursday, January 19, 2017

(Chicago, Illinois – January 13, 2017) The purpose of a forecast is to inform financial decision-making. Public finance managers often find that decision-makers don’t give forecasts the weight in decision-making that they should. Government Finance Officers Association’s (GFOA) Informed Decision-Making Through Forecasting: A Practitioner’s Guide to Government Revenue Analysis describes how public finance managers can make a forecast resonate with its audience.

In Informed Decision-Making Through Forecasting: A Practitioner’s Guide to Government Revenue Analysis (paperbound ─ 324 pages; written by Shayne C. Kavanagh and Daniel W. Williams), GFOA gathered over 650 data points of forecasted versus actual revenues from local governments across North America to construct a forecast accuracy benchmark, including benchmarks for property and sales taxes. A forecasting competition also was conducted, taking 55 data series from different local governments, to make forecasts using diverse techniques and to ultimately discover which ones reliably produced the most accurate results. The book includes detailed case studies from local governments who have used forecasting to help solve public-policy problems.

“This is the most comprehensive revenue forecasting book I have ever come across,” explained Marcia C. Wilds, Revenue and Economic Analysis Coordinator, Fairfax County Government, Virginia. “It will be useful for those just starting out, as well as those already familiar with forecasting methods. I look forward to it.”

Supplementary materials and methods, such as tables, graphs, formulas, and other exhibits, accompanying the book can be accessed at www.gfoa.org/forecastbook.

ORDERING INFORMATION: Copies of Informed Decision-Making Through Forecasting: A Practitioner’s Guide to Government Revenue Analysis are $60 each for GFOA members and $90 each for nonmembers. Visit GFOA’s e-store at www.gfoa.org to order a copy today and to check out other resources about financial management and budgeting topics.For information about quantity discounts, e-mail Publications.

Major credit cards are accepted; all orders must be prepaid unless accompanied by a purchase order; billed orders are subject to an $8 handling charge.

All orders prepaid by check, credit card, or purchase order should be sent directly to:       

 Government Finance Officers Association
 203 North LaSalle, Suite 2700
 Chicago, IL 60601-1210
 Phone: 312/977-9700       Fax: 312/977-4806
 E-mail: publications@gfoa.org

Media representatives or book review editors may contact Barb Mollo, Director of Operations and Marketing Center, at 312/977-9700 or email for a complimentary review copy.