Polishing your Crystal Ball: The Power of Forecasts
Pinellas County, FL
Population: 930,000

During these challenging economic times, effective forecasting is more important than ever. Pinellas County recently developed an original, user-friendly, and transparent forecast document that includes ten-year budget forecasts for the County’s major funds. Effective forecasting has enabled the County to successfully navigate significant fiscal challenges including mandated property tax roll-backs from the State Legislature, a dramatic decline in property tax values, and impact from the Great Recession.

This presentation will help you take budget forecasting to the next level. In the “Polishing Your Crystal Ball” portion of the presentation we will share compelling lessons learned regarding the development of multi-year budget forecasts. In the “Power of the Forecast” section we will focus on how we used this information with our Board of County Commissioners and other elected officials to improve long-term decision-making.

Attendees will learn:
• Lessons-learned in developing a long-term budget forecast
• How forecasting facilitates understanding of the impact of today’s decisions on the future
• Real life examples demonstrating how forecast information improved decision-making