Orange County NC Website
Browse       Search
DocuSign Envelope ID:9481C8DE-D232-4BFE-A7DF-F240644DFF63 <br /> 2. Expenditure Controls/Shifts.This refers to strategies that cap or save General Fund expenditures by <br /> shifting costs to other funds or service providers. <br /> 3. Service Delivery Model Changes.This includes looking at alternative, lower cost service delivery <br /> approaches. <br /> 4. Service Delivery Reductions.This involves reductions based on prioritizing core services and reducing <br /> non-core ones. <br /> During this activity, Management Partners will compile data to be used throughout the analytical phase <br /> of the project.This data will include budgets, department budgetary recommendations, analytical work, <br /> and other relevant information documented during this activity. In addition, Management Partners will <br /> review budgeting approaches and test budget assumptions against actual experience, and review and <br /> factor in the County's inventory of unmet or deferred infrastructure and maintenance needs,to the <br /> extent the information is available. <br /> Activity 3—Analyze Data <br /> Management Partners will analyze the data gathered through documents and interviews.This activity <br /> will identify historical trends and create a summary of the factors affecting the financial capacity of the <br /> County. <br /> As this data is gathered and analyzed, Management Partners will look for optimization opportunities <br /> that may exist; alternative service delivery approaches that might be possible; revenue enhancement <br /> options; potential redundancies in program operations; and the potential for organizational <br /> consolidation. Management Partners will also assess the strategies employed to date to ascertain which <br /> have been most effective in reducing costs and increasing revenues. <br /> Activity 4—Report Results <br /> Management Partners will prepare a draft report summarizing the results of the expenditure and <br /> revenue analysis and associated recommendations. All recommendations will be clearly presented and <br /> supported by analysis informed by best practices. <br /> The draft report will be reviewed with management to ensure factual accuracy. Once Management <br /> Partners has received the County's feedback, the report will be finalized. <br /> Financial Forecast <br /> Management Partners will complete a long range fiscal model to meet the needs of the County. The <br /> model will be designed to County specifications to model different scenarios involving expenditure and <br /> revenue variables.The model will have an easy to use dashboard so assumptions can be easily changed <br /> with respect to revenue growth, legal obligations, and expenditure assumptions by line item and other <br /> factors. Management Partners will coordinate closely with County staff to obtain data necessary for a <br /> solid financial forecast. Once the model is completed, it will be available for use by staff in the future. <br /> Management Partners will provide training and a user's guide so that County staff can update the <br /> forecast on a regular basis. <br />