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Covid19 Financial Impact Analysis

While it is difficult to take our eyes off the present, the financial impacts of COVID-19 appear to be lasting. Local governments must prepare. In light of this and discussions we’re having with local government leaders, we’re finding many need assistance.

Long-Term Fiscal Planning

Surviving or thriving, extended COVID-19 financial impacts will require urgent financial planning on at least a 3- to 5-year horizon. We’re simply not seeing any other way to get through it!

Assessing Fiscal Health

Some of our clients are in the dark about the overall fiscal health of their agency or departments or – worse – think they’re in good shape but have blind spots! Determining the true fiscal health of all funds and how much of the fund balance is supported by cash, not just long-term, non-fluid assets, can be time consuming work, but critical for navigating the storm.

Local Application

Organizations, such as the California Society of Municipal Finance Officers, the International City/County Management Association, the League of California Cities, and the Government Finance Officers Association, have provided some guidance already. However, each agency has a different local fact-pattern in which to apply these over the short and long term, which can be time consuming while simultaneously handling the urgencies of this pandemic.

Revenue Recovery

Revenue recovery can seem simple; however, we’re seeing receivables “on the books” that will never actually materialize in the form of liquid assets, and we’ve also seen fee structures that don’t cover costs.

In-Depth 9-Step Analysis

Citygate’s 9-step COVID-19 Impact Analysis includes everything from revenues, expenditures, cash flow, and reserves, as well as strategies to receive and provide assistance!

Do you need assistance in these areas? We can help you clarify the local financial impacts of COVID-19 and develop a plan to best address these over the next 3 to 5 years!

Contact us to discuss you Needs!

Citygate’s COVID-19 Financial Impact Analysis provides a range of scenarios from which your agency can plan. Contact us to discuss your agency and to learn more about our 9-point analysis and plan!