Balancing the Budget in Bad Times: Evaluating and Managing Risk in Cutback Budgeting

In order to balance the budget during a serious revenue downturn, local governments may need to resort to budget balancing techniques that would not be considered under normal circumstances. Examples include layoffs, deferring capital maintenance, and more. Techniques like this entail risks such as degrading service to the public, serious damage to employee morale, and creating larger financial problems in the future. In this webinar, we will discuss how to evaluate these risks, select between options, and mitigate the risks you are required to take to balance your budget during a severe financial downturn. Those who successfully complete this seminar should obtain a solid understanding of each of the following: The criteria for evaluating riskier techniques for balancing your budget · How to apply these criteria to decision-making · Strategies for mitigating risk