IMET Rolls Out Improved Simplified Monthly Forecasting Tool
Monday, April 27, 2020 in Press
IMET is offering an improved monthly forecasting tool created by MuniCast(a). IMET has made available to participants an easy-to-use model that forecasts cash flows for several years.
The new model helps forecast out to 36 months and allows for more granularity. While creating and maintaining forecasts always has been a useful idea, the havoc caused by COVID-19 makes having such forecasts even more important now. We encourage you to create multiple scenarios, including a baseline (pre-COVID-19) scenario, and at least two or three alternative scenarios providing a range of possible impacts from the economic downturn. The simplicity of the workbook allows creating and saving scenarios with various descriptive file names.
Because no one really knows when and how the economy will begin to recover, these scenarios should be adjusted whenever new information provides more insight. Scenarios might include recovery starting 3, 6 or 9 months out. Again, these scenarios should be constantly assessed and revised as necessary.
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Effective immediately, the Government Finance Officers Association (GFOA) is asking all industry affiliates to immediately stop using the common four-letter acronym most often associated with the Comprehensive Annual Financial Report. Instead, GFOA recommends referring to the report by either the full name or by using a shortened format that does not include the four-letter acronym. For instance, the “Annual Report” would be acceptable.Read more