Jersey City, NJ developed a financial forecast model to inform the city's budgeting process

Jersey City, NJ financial forecast model budgeting process

Jersey City's Department of Finance developed a financial forecast model to inform it's budgeting process. The model relies on a combination of internal and external resources including historical budget figures, credit rating agencies, federal regulatory bodies, etc. The financial forecast is updated monthly by the city's budget director and the Treasury Department performs a cashflow analysis once a week. The model is highly accurate with less than 2% variance from year-end actual results.

JC

Jersey City, NJ

Municipality in New Jersey

United States