Financial Facts

May 19, 2017

Government has historically lagged industry in keeping up with the best practices and most efficient methods of forecasting. Some of the pitfalls encountered include:

  • Slow preparation
  • Optimism bias
  • Lack of support for assumptions
  • Poor data quality
  • Lack of ownership and accountability
  • Misalignment of incentives
  • Lack of forecasting skills in the team
  • Lack of understanding of risk and volatility in the forecast

VACo Contact: Vicky Steinruck, CPA

- Related Blog Posts -

VACo’s County Officials Summit draws local government leaders from all over the state

August 20, 2015

View Blog Post

Visit Alleghany County and the Chesapeake and Ohio Heritage Center

June 17, 2014

View Blog Post

The Berkley Group’s ETA Program saves the day in the Town of Amherst

December 21, 2017

View Blog Post