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Long Term Financial Planning (LTFP) is the corner stone of fiscal sustainability for local government, and requires sound financial forecasting to identify gaps and future issues. The process of Long Term Financial Planning (LTFP) helps to develop an organization's understanding of how the choices made today affect its ability to provide services in the future.
This course will provide participants with forecasting and modeling information that is an integral part of undertaking LTFP in their organizations. Participants will be led through a process examining their program and service levels, another key component of Long Term Financial Planning.
Participants will examine how to develop a basic forecast and profile for their communities, and discuss how to use this information to raise awareness of the financial issues facing their communities. Discussion of forecasting and modeling examples will help participants gain an understanding of how to lead their organization to thinking through a longer-term perspective when making decisions.
Participants will also be led through an interactive exercise of developing a program inventory and discussion around the effects of service level.
Who Should Attend:
Senior Financial Officers, Administrators, Planners and Engineers who are interested in building a long-term financial plan for their organization.
Benefits of Attending:
Participants will discuss and gain an understanding of the following:
- How to create a standard organizational profile.
- What are the basic assumptions required for financial forecasting?
- How to identify the financial gaps or issues facing your community?
- How to create a basic list of services that your organization currently provides.
- What is a program inventory?
- How to complete a program inventory.
- What is the breath of services provided?
- What are the distinctions between the results of various programs?
- What inter-relationships and synergies exist?
- How to cost programs.
October 2015, Kimberley
April 2014, Prince George
November 2013, Vancouver