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Sedona joins pilot for financial sustainability

Post Date:02/12/2018 5:00 p.m.

 

SEDONA, Ariz. -- The city of Sedona has been chosen to participate in an international pilot program on fiscal sustainability.

The pilot program is being conducted by the Government Finance Officers Association, a 19,000-member professional association of federal, state and local finance officials throughout the U.S. and Canada. Partners in the program include the National Civic League, University of Southern California, University of San Francisco and the Lincoln Institute of Land Policy.

As part of the pilot program, Sedona city staff members will measure city processes against best practice benchmarks for financial sustainability, gather input and share ideas with citizen and elected stakeholders, and pursue new opportunities for continuous improvement.

“Our city has a long history of responsible budget management,” says Assistant City  Manager Karen Osburn. “Participation in the pilot program is a way to challenge ourselves to go beyond the budget numbers and further improve the decision-making behaviors and processes that support sound management. We’re always looking for new ways to make efficient and effective use of finite city resources.”

The Government Finance Officers Association pilot centers the work of Nobel Prize winner Elinor Ostrom, the only woman to win the prize in Economic Sciences. Ostrom investigated how communities can best manage finite resources sustainably and equitably through cooperation rather than competition.

The goal of the pilot is to discover whether application of Ostrom’s principles can provide a substantial benefit to local governments.

To learn more about the project visit http://www.gfoa.org/financial-sustainability.

To learn more about how Sedona will be participating in the pilot project contact Karen Osburn, assistant city manager, at kosburn@sedonaaz.gov.  

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