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Government financial series: How long-term financial planning helps save critical resources part 2

Getting started

Long-term financial planning is a best practice, says the GFOA. But how do you get started? Part 2 of our Long-Term Financial Planning series reviews the elements of a long-term financial plan and how it creates a roadmap for the entity’s financial environment. We’ll cover aspects of an environmental scan, revenue and expenditure forecasting, budget monitoring and reporting, and key financial ratios.

What you'll learn

  • Understand how the elements of a long-term financial plan work together
  • Identify factors that should be included in an environmental scan, revenue and expenditure forecasting, budget monitoring and reporting
  • Learn key financial ratios and what they mean
  • Recognize the relationship between long-term financial planning and the entity’s decision-making

Who should watch

  • Elected officials for state and local governments
  • Government administrators, department heads, finance officers, budget managers and budget analysts
  • Citizens interested in how government finance affects a community

Additional information

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How to create and implement a long-term financial plan

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Connect with Mike

Mike Lowry, CGFM
Senior Vice President,
Assurance Services

Mike Lowry joined CPA and advisory firm Allen, Gibbs & Houlik, L.C. (AGH) in 2004 and specializes in governmental and not-for-profit clients. Prior to joining AGH, Mike’s experience includes nearly 20 years’ financial and technology leadership positions in hospitality management companies.

Mike is a CPA with a bachelor of business administration degree in accounting from Wichita State University and a master’s degree in management information systems from Friends University. He has earned the designation of Certified Government Financial Manager from the Association of Government Accountants, and is also a member of the American Institute of CPAs, the Kansas Society of Certified Public Accountants, and the Association of Government Accountants.