With personnel costs making up approximately 70 percent of local government operating budgets, any attempt to balance the budget during this financial crisis will likely need to involve reductions to salary costs. GFOA's recent research report titled "Balancing the Budget," explores potential treatments that finance officers can use and the risks of each. In this session speakers will discuss strategies such as freezing vacant positions; better managing overtime; how to find savings in health care costs; strategies for implementing furloughs; and considerations for wage freezes, hiring freezes, and layoffs. These decisions are some of the hardest to make in a recession. Attend this webinar to better understand the risks and implementation considerations with common approaches.
Recorded June 12, 2020
- Publication date: June 2020