Welcome to CommuniTIES, the Baker Tilly podcast series where we speak with public sector leaders from across the firm about practical guidance to help government entities protect and enhance their value.
In this episode, Public Sector Practice Leader Vicki Hellenbrand connects with Baker Tilly Municipal Advisor Paige Sansone to discuss the importance of comprehensive financial planning in addressing COVID-19-related cash flow deficits and mitigating budget shortfalls.
Although it may be too soon to understand the full extent of the financial impact of COVID-19 on your organization, there will certainly be an impact. It’s imperative to understand both the short- and long-term implications to your financial position, with a focus on sustainability. In the short-term, how will delayed tax distributions affect your ability to make payroll or pay debt obligations for the remainder of the year? In the long-term, what revenue streams may experience a delayed or prolonged impact in 2021, and possibly 2022? This podcast addresses these and other related questions.