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Weathering the Economic Storm

Post Date:02/07/2017 11:01 AM

Weathering the Economic Storm
City of Grandview Named Highly Accurate Forecaster

When it comes to revenue forecasting, it appears Grandview gets it right. Government Finance Officers Association (GFOA) named Grandview among nine cities it calls “Highly Accurate Forecasters” in a new guide for city economists. “Informed Decision-Making Through Forecasting: A Practitioner’s Guide to Government Revenue Analysis” examines the importance of economic forecasting in Government. GFOA also asked Finance Director Cemal Umut Gungor to contribute to the book.

cemal Umut gungor

“In this era of unpredictability, accuracy of revenue forecasting is an absolute must,” Gungor explains.  “Predicting revenue is crucial to good government. A city needs to pay its bills, keep its promises to its citizens, and maintain a balanced budget. This is something Grandview is proud to accomplish and hopes to maintain in the future.”

Gungor’s revenue forecasting considers statistical, economic and qualitative methods, as well as constantly digging for new information. He calls utility companies quarterly for future rates to forecast utilities revenue, tracks top 50 sales tax providers in the City, and collects data from various sources like U.S. Census and Bureau of Labor to use in City’s forecasts. Grandview has earned GFOA’s Excellence in Financial Reporting Award for 28 years in a row.

 

 

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