IMC-2020 Presentation 39:49 Minutes
by Laith Alfaqih and Andrew Burnham, Stantec
The current unprecedented times require real-time understanding of the financial and operational impacts of changing conditions and the ability to quickly evaluate options in order to take decisive actions in a climate of uncertainty.
Local government, utility managers, and leaders across industries do not have it easy. Why? Because they face the task of addressing complex challenges while meeting the growing need for inclusion and full disclosure. And the room for error is shrinking, budgets are tight, utility fees and tax rates are high, operational and maintenance costs are increasing, and infrastructure investments are increasingly urgent. Plus, these challenges are compounded by the fact that much of the infrastructure assets is aging and are reaching the end of their useful life.
The complexity is real: projects and programs must be prioritized, go and no-go decisions must be made, staffing and operational issues must be addressed and funded. Every need must be met within the constraints created by every other need. Given the tremendous reinvestment needs and limited availability of funds, the decisions around how best to deploy a community’s resources has never been more important.
To meet these financial challenges, the presenters will discuss the financial framework, methodology and tools to help enterprises address funding challenges in a strategic and cost-effective manner. It is understood that the success of any enterprise is often judged on how well it avoids financial turmoil while continuing to invest in its assets and delivering great service. Also, they will focus on helping enterprises developing and implementing a roadmap to respond to these financial needs.
- Simplifying complex issues;
- Maintaining a focus on core principles;
- Making it easy to draw correct conclusions and communicate these decisions.