Identify and take advantage of short-term savings
The pandemic has caused many cities to require their employees to work from home. As a result, cities have saved on energy costs, daily maintenance, and a variety of other expenses related to the operation of offices, buildings, and other physical assets. Cities should consider adjusting their cost projections to maximize the public value they deliver through their expenditures.
Some questions to guide your thinking
- What costs were eliminated or reduced due to work-from-home orders?
- How can the cost savings be used to balance the budget?
Reducing material and contracting costs
Government Finance Officers Association (GFOA) 5 minutes
Materials and contractors are typically not as large a part of the budget as personnel or capital projects, but every bit counts in a financial crisis.