Budget Best Practices Monthly Series: Focus on Long-Term Financial Planning

When developing their budgets, local governments should be considering the long-term, not just the upcoming budget period. Going through a long-term financial planning process allows decision makers to focus on long-term objectives, encourages strategic thinking, and promotes overall awareness for financial literacy in an organization. This webinar will focus on GFOA’s Best Practices on financial forecasting in the budget process and long-term financial planning and will highlight examples of local governments that incorporate long-term thinking into their budget decision-making.

Who Will Benefit: Finance professionals interested in applying GFOA Best Practices to improve the budgeting process.

• Summarize GFOA’s best practices on financial forecasting in the budget process and long-term financial planning
• Identify the benefits of long-term financial planning and financial forecasting
• Outline the key steps involved in the forecasting process
• Discuss examples of local governments that have effectively implemented financial forecasting and long-term financial planning best practices