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Budget season is here, and with it the pressure to address dwindling federal funding pools, staff shortages, and inflation. Not only that but communities’ expectations, regulatory requirements, environmental challenges, and the costs of goods and services are changing rapidly, too. Taking last year’s line items and bumping up the numbers won’t be enough. However, as our funding and financial experts state, “it’s not all gloom and doom.”
Last week, WithersRavenel’s Director of Funding Services Amanda Whitaker and Director of Financial Services Shannon Moore offered insights on some of the improvements municipalities can make this upcoming budget season in a webinar hosted by Brightly.
In their conversation with Brightly’s Enterprise Solutions Consultant Chris DeJuneas, the funding and finance duo provided attendees with information on how to set clear monetary priorities, identify funding opportunities to improve community infrastructure, and prepare for future demands and needs.
“It’s never too early to plan for capital replacement,” Shannon stated. “Especially if you’re a utility that has a long-serving staff that are soon to retire. Get that institutional knowledge down on paper. Start walking the lines of your utility system and gain a lot of that knowledge that they’re going to leave when they retire…It’s never too early to start making those long-term plans.”
Register and watch the full webinar to hear more from Shannon and Amanda and to learn more about:
- Knowing when to perform rate studies and rate adjustments
- Finding a path to generate more funds
- Communicating and defending budget requirements
WithersRavenel has an in-house, dedicated Funding & Finance team that enables clients to administer critical programs, initiatives, and projects. If you’re interested in learning more about how our team can help you, contact WithersRavenel’s Director of Finance Services Shannon Moore at smoore@withersravenel.com or (919) 978-3862 or WithersRavenel’s Director of Funding Services Amanda Whitaker at awhitaker@withersravenel.com or (919) 238-0448.