MSU Extension Fiscal Management

Fiscally Ready Communities

The Fiscally Ready Communities program was created to assist communities that want to establish, measure, and maintain policies to increase operational and financial effectiveness and safeguards. This partnership between MSU Extension and the Michigan Department of Treasury helps local governments work towards fiscal health by sharing best practices in fiscal sustainability.

The Fiscally Ready Communities program currently includes five training opportunities. Together, these trainings help local governments work towards long-term fiscal sustainability, helping them to support thriving communities. Click on the events header above for upcoming program dates.

From Fundamentals to Best Practices

This training provides best practices for local governments' fiscal health including budgeting, long-term planning, dealing with uncertainty, and financial policies and procedures.

Budgeting for Fiscal Sustainability

This program focuses on implementing financial best practices, measuring fiscal health, and local government financial management fundamentals. It will include material on reconciling a bank account, how to read and interpret governmental financial statements, audit prep umbrella, how to complete and file an F65 Report, remitting taxes timely, and how to craft an appropriate and effective audit finding Corrective Action Plan.

Capital Asset Management and Planning

This session will cover the basics of a Capital Improvement Program (CIP), best practices, and give participants a chance to share techniques that have worked for their community. Additionally, the training will assist both elected and appointed local officials in outlining your policies and procedures for capital asset management and planning. This will ensure that local government are being proactive, while discussing the inter-connectivity of many local government requirements.

Managing Internal Controls

A strong internal controls framework is an essential piece of a culture of fiscal sustainability. Internal controls play an important role in communication, decision-making processes, and trust-building in local government. This training includes a deep dive into internal controls. It will cover what internal controls are, why they're necessary, how they help your community, implementation, and where to start.

Nuts and Bolts: Fees, Fines, Purchasing, and Receipting

Building a culture of fiscal sustainability is essential to local government fiscal health. Well-thought-out policies on fees, fines, purchasing, and receipting lead to clear rules and fair treatment, which are essential pillars to that culture of fiscal sustainability. This webinar will include a deep dive into best practices related to fees, fines, purchasing, receipting, and more. It will cover what they are, why such policies are necessary, how they contribute to local fiscal health, and how to get started on implementation.