City Leader Guide
on Fiscal Resilience
Respond
Stabilize
Transform
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City Leader Guide on
Fiscal Resilience
or choose one of the stages below based on your current situation:
Respond
Respond to the immediate crisis and create space for more sustainable reforms.
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Stabilize
Move beyond short-term stabilization and establish the basis for recovery.
Let's start
Transform
Maximize impact and adaptability to changing conditions.
Let's start
Here are some relevant questions and related critical tasks.
What are the most impacted groups in the community and how can we provide them immediate relief?
Ask stakeholders what they need
Provide assistance to vulnerable groups
Provide assistance to local businesses
Partner with state and community banks
How do I address short-term revenue changes?
Revise short-term forecasts
Identify new sources of revenue
Mitigate revenue loss from current sources
How do I address short-term expenditure changes?
Manage liquidity
Identify and take advantage of short-term savings
Analyze the cost of key programs and activities by converting line-items into activity-based budgets
Negotiate temporary changes to personnel costs
Defer non-essential capital expenditures
How do I strengthen my funding options?
Tap reserves strategically
Identify assets with potential unlocked value
Manage cash funds
How do I improve debt financing?
Assess the city’s debt capacity
Consider current and new borrowing options
Tap into the Federal Reserve’s Municipal Liquidity Facility, if eligible
How do I build the capacity to steer our city towards long-term fiscal resilience?
Set-up task teams for all three stages (Respond; Stabilize; Transform)
Engage stakeholders
Communicate constantly
Assess authority to implement measures
Monitor revenues and expenditures variances continually