134 – Navigating Financial Crises with Forecasting Tools and Sound Financial Management Practices
Andrew Kim, Director, Public Finance, PMA Securities, LLC; Erik Stoltz, Institutional Sales Manager, PMA Securities, LLC
The recent COVID-19 crisis drastically impacted the financial profile of park districts throughout the State of Illinois and highlighted the need for financial forecasting tools and sound financial management practices. This session will provide a financial forecasting model and detail the factors that should be considered in forecasting the impact of a crisis on a park district's finances. This session will also highlight other helpful financial management practices that park districts should consider to navigate the impact of emergency crises on their financial profiles.
Learning Outcomes: Participants will be able to:
- Implement a financial forecasting tool that can be adapted to a park district's specific financial profile to make necessary adjustments in the face of a financial crisis.
- Implement sound financial management practices that will serve as a foundation for park districts when they are faced with a financial crisis.