Finding and applying financial data to governance challenges Breakout Sessio

Maher, Craig S.

English

The University of Nebraska, Omaha

2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTCraig Maher, Ph.D.DirectorSchool of Public Administration, University of Nebraska at OmahaTips to Ensure Impact:Finding and Applying Financial Data to Governance Challenges2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTOutline• Survey of data, resources and tools• Data sources• Data uses• Detailed example of data usage: how to conduct financial condition analysis2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTData Sources: US Census BureauCensus Survey of State and Local Government Finances  • Nationwide voluntary survey every year since the 1960s; • The first year the Census Finance Survey data is available is 1967. • While the Census Bureau has collected information on selected municipalities (relatively larger municipalities in general) in most years, a census has been conducted in years ending 2 and 7. • Focusing only on those years ending 2 and 7, therefore, the Census Finance Survey is the only database that covers all municipalities in the U.S. • The Census Finance Survey includes almost 130 revenue categories, more than 270 expenditure categories, and over 100 categories for other activities such as debt, cash, and investment securities.2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTUS Census data – compiled dataWillamette University – The Government Finance DatabaseThe Urban Institute Lincoln Institute – Fiscally Standardized Database2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTUS Census Bureau fiscal data - Drawbacks• These fiscal data are self-reported; municipal officials may vary in interpreting and reporting those 600 uniform categories offered by the Census Bureau• The information reported in the Census Finance Survey may not correspond to actual financial statements or accounting measures. • Census Finance Survey is most appropriate for describing fiscal trends over time2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTState-specific data• Most states require local governments submit financial information• Typically used for intergovernmental aid distribution (e.g., WI), tax limit assessment (e.g., NE) and/or monitoring (e.g., CA)2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTExample - WI• WI County and Municipal financial reports: https://www.revenue.wi.gov/Pages/FAQS/slf-finrep.aspx• Revenues and expenditures:  https://www.revenue.wi.gov/Pages/Report/county-municipal-revenues-expenditures.aspx• Local government dashboard: https://public.tableau.com/app/profile/research.policy/viz/LocalGovernmentDashboard_0/LocalGovernment2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTExample - NE• NE Auditor’s Office: https://www.nebraska.gov/auditor/reports/index.cgi?audit=1• NE State and Local Government Finance Lab• These are budget data2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTCA – Data collection California State Comptroller’s OfficeBy the Numbers Audited Financial Data – not really clear if ACFR data2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTAnnual Comprehensive Financial Report• Meets compliance requirements specified by the Government Accounting Standards Board (GASB)• The benefit is consistency in reporting • Not an accounting session • Draw your attention to 3 key elements• Government wide statements• Fund statements • Statistical Section 2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTDouglas County, NE• County Financial Reports• MDA – offers comprehensive overview • Government-wide statements (beginning p. 18)• Best for comparisons and analysis over time• Fund statements (beginning p. 20)• Most salient to stakeholders • Statistical section (beginning p. 112)2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTData use• I frequently use these data for:• Trend analysis and forecasting• Story telling • Financial data analysis • Financial data monitoring • For what purposes do you want financial data?2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTMy Approach to data usage • Financial Condition Analysis• Need to link contextual information to financial information• External environment• Economic and demographic trends• State policies toward local governments (TELs, debt limits, etc)• Internal management 2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTWichita, KS 330,000340,000350,000360,000370,000380,000390,000400,00020002001200220032004200520062007200820092010201120122013201420152016201720182019Population, 2000-2019010,00020,00030,00040,00050,00060,000Per Capita Personal Income4.49.50.01.02.03.04.05.06.07.08.09.010.0Unemployment Rate: 2000-20192022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTFinancial Analysis0%2%4%6%8%10%12%14%200220032004200520062007200820092010201120122013201420152016201720182019G.F. Unreserved Fund Balance as Pct. of GF Expenditures: FY's 2002-20190.01.02.03.04.05.06.07.08.02007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Cash, Investments and Receivables as Percentage of Current Liabilities, FY's 2007-20190.0000.0500.1000.1500.200General Obligation Debt and Debt Service: FYs 2000-2019G.O. Debt as Pct Property ValueDebt Service as Pct Expenditures050,000100,000150,000200,000250,000300,000350,000400,000450,000500,0002000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Governmental Funds: Revenues and Expenditures($1,000)Revenues Expenditures2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTOther Approaches: FTMS • Salina• Golden• Washtenaw County, MI• Northborough, MA2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTSummary• There are an array of financial data• Identifying the most appropriate is a function of your objective• Trend analysis for a given entity relative to overall average – US Census• Within state comparisons – state sources• Financial analysis – ACFRs• Downside is time lag2022 DATA AND RESEARCH SERIES FOR COMMUNITY IMPACTQuestions? 

Tips to Ensure Impact: Finding and Applying Financial Data  to Governance Challenges

https://digitalcommons.unomaha.edu/cgi/viewcontent.cgi?article=1219&context=datausers

Tips to Ensure Impact: Finding and Applying Financial Data to Governance Challenges

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