Unique Characteristics of Project: NHA developed a new financial forecasting model for City finance staff and created a comprehensive presentation for City council that analyzed historical financial trends, projected financial performance, and evaluated potential solutions. The exercise helped build support for a sales tax measure that was successfully passed.
Executive Summary: NHA worked intensively with the City of Corcoran’s finance staff and the City Manager to develop a comprehensive “Fiscal Sustainability Report,” which helped lay the groundwork for attaining ballot measure support from residents and council members for a 1% sales tax increase to help bolster the City’s struggling operations. As part of the first phase of this project, NHA collaborated with City staff to do a deep dive on the City’s historical financial trends and develop a comprehensive, user-friendly spreadsheet model to assess current and pro forma trends. This model is a tool that has been used by City staff as part of their ongoing fiscal sustainability review, general budgeting, and forecasting projects. After a thorough analytical review of the City’s finances, including a review of the City’s pension expenses and reserve policies, NHA translated the results into a short, digestible presentation that summarized the results and ultimately helped lay the groundwork for a successful sales tax measure.