Budgeting and Forecasting

Building a Financially Resilient Government through Long-Term Financial Planning

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The Great Recession taught governments that being sustainable is not enough -- they must be resilient, able to thrive under conditions of adversity. This paper explains the importance of long-term financial planning by focusing on the eight essential characteristics of a resilient organization: diversity, redundancy, decentralization, transparency, collaboration, grace in failure, flexibility, and foresight. In this way, governments create soft landings in times of economic distress and improved value for the public.