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Uncovering New Revenue: Benefits of Horizontal Analysis of Financial Statements



Next Session: January 8, 2020 at 1 PM ET

Local governments are tasked with the delivery of various services to residents and businesses. However, each year, governments are faced with difficult funding decisions as a result of tight budgets. In order to improve service delivery or address budget shortfalls, many local governments look to revenue increasing measures, such as tax or user rate changes. These decisions are rarely politically popular, which can create increased pressure on government budgets. 

In some cases, changing tax or user rates may not be required. A horizontal review of prior years financial statement may identify potentially “lost” revenue that can be used towards current or future budget activities.

In this informative webinar, PSD’s General Manager of Financial Consulting Matthew Hartney will demonstrate the following:

  • How municipalities and their budgets can benefit from horizontal analysis of their financial statements, with a highlight on common places where additional funds may be found.
  • A first-hand example of how a government’s financial trend analysis offered new budgeting insights.
  • Best practices and mistakes to avoid in conducting a review

Matthew is a CPA, CMA, and a Master in Business Administration, and has served various public sector clients across Canada as an external advisor. In his current role, Matthew provides unique professional accounting expertise to support the three pillars of public sector finance: planning, operations, and reporting. Matthew has extensive experience in providing advisory services to support CFOs with preparing long-term financial plans, annual budgets and financial plans; conducting internal reviews and addressing difficult accounting transactions; and drafting financial statements and reports.