Building a Financially Resilient Government through Long-Term Financial Planning

Author: 
Shayne C. Kavanagh
Year: 
2011

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.