Introducing LGFM v3.0 Thomas Paul 19 March 2014 Local Government Finance Professionals Forum 2014 QTC’s role in local government Borrowing capacity assessments Credit reviews Local Government Forecasting Model Robust forecasting process Financial forecasting assistance Client advocacy Project evaluations Depreciation Surplus cash analysis Industry leadership Business cases in practice Supporting financial sustainability Bespoke advisory services Water & waste pricing models Cash flow monitoring Elected member education Financial sustainability review Financial management for decision makers Procurement workshop Training Business case development Understanding financial statements 2 QTC’s framework for understanding financial sustainability Ability to meet immediate & short-term obligations Ability to maintain infrastructure assets Liquidity Operating Performance Capacity to meet day-today costs from operating revenue Asset Sustainability Fiscal Flexibility Degree of reliance on external funding sources Qualitative Factors Key component in supporting financial sustainability is a robust forecast model and process. 3 LGFM v3.0 will be available from Sept The first LGFM was released in 2006, with the latest version, LGFM v2.5 released in 2007 Nov-12 to Jun-13 • Business requirements + scope Jun-13 to Aug-13 • Model specification Aug-13 to Nov-13 • Draft model Nov-13 to Feb-14 • Independent review + finalise model Feb-14 to Aug-14 • Client beta testing + model fixes Sep-14 onwards • External roll-out 4 Benefits of the LGFM v3.0 Primary model used in the DLGCRR borrowing process, including for QTC credit reviews Reports in the latest Tropical statements issued by DLGCRR Ability to forecast at business unit level if required Improved cash forecasting for more accurate interest review Improved asset and debt modules with increased functionality Custom reporting 5 What you can expect from LGFM v3.0 Dashboard Summary with DLGCRR / QTC key sustainability metrics 6 What you can expect from LGFM v3.0 Cash cycle chart showing the fortnightly cash balances by category 7 What you can expect from LGFM v3.0 The Control Panel is located at the top of each sheet. The user can choose – The selected scenario – The active business unit, and – Normalise results for > Median cash > Selected operating grants, ie NDRRA 8 What support is available? One-on-one training and model walkthrough Ongoing support from your QTC account manager Refresher course on Robust Financial Forecasting Practices “Self service” available from QTC Connect – Online video tutorials – FAQs – Comprehensive user guide 9 What does it cost Council? Nothing It will be freely available on QTC Connect 10 To find out more… 1. Say “Hi” at the conference 2. Swing by the QTC stand and pick up a brochure 3. Get in touch with your QTC account manager 11 Thank you Thomas Paul Mark Baseley [email protected] [email protected] 12 Disclaimer QTC has prepared this presentation for use solely for the Local Government Finance Professionals Forum 2014. The recipient shall not use the presentation for any purpose other than the purpose for which the presentation was expressly provided. The presentation contains confidential information. None of its contents may be provided or disclosed to any other party without QTC’s express written consent. The information in this presentation is provided by QTC in good faith in relation to the information available at the time of its preparation and on the basis of information supplied to QTC by third parties. QTC has not independently verified the information supplied to it and accordingly does not represent that the information provided to QTC is accurate or complete and it should not be relied upon as such. QTC is under no obligation or duty to notify anyone if there is any change in any information or any new information or if it forms a different opinion at any time after the date of this presentation. Neither QTC nor any of its employees or agents accepts any liability for any loss or damage suffered by any person as a result of that person or any other person placing any reliance on, or acting on the basis of, the contents of this presentation. To the extent permitted by law, QTC expressly excludes any representation or warranty in relation to the accuracy, currency and completeness of the presentation. To the extent permitted by law, QTC limits its liability to the amount of any fees paid to QTC for this presentation. The recipient acknowledges that QTC is not a legal, tax or accounting advisor and that independent expert advice from practitioners in the relevant disciplines should be obtained on those matters before acting upon the information contained in this presentation. © Queensland Treasury Corporation 2014 13
© Copyright 2024 ExpyDoc
