In June, the UFI team delivered a report to the Beaumont City Council to present the City a Work Out Plan to Sustainability. Beaumont has struggled with financial insolvency, due to mismanagement by prior leadership. UFI was brought on to evaluate the City’s current financial situation and provide options for recovery and growth.
To view the complete report <a href=”http://www.ci.beaumont.ca.us/DocumentCenter/View/27721″ target=”_blank”>click here. </a>
The complete report provides suggestions for reducing operations costs, increasing revenues and streamlining the budget process. This provides an action plan for staff and the City Council as the City moves forward to improve its fiscal position and increase operational efficiency.
The 2014-2015 fiscal year came to a close with an $8 million negative cash balance. The workout plan focuses on getting the City to a cash and service solvency point, encouraging the establishment of reserves.
UFI has been privileged to work in some of the more financially challenged cities in the State, including Stockton and San Bernardino. The collective knowledge of the team makes UFI an invaluable resource when cities find their fiscal house has been mismanaged.
Urban Futures, Inc. has been providing services to local governmental agencies for over 43 years. Operating as five divisions – UFI Public Management Group, UFI Public Finance Group, UFI Sustainable Communities Development Group, UFI Analytics & Compliance Group, and Isom Advisors – UFI offers clients a growing portfolio of services and industry expertise that might otherwise be out of reach. Over 300 public agencies have benefited from partnering with UFI. UFI is based in Orange, CA with a Northern California office in Walnut Creek. Visit their website at www.urbanfuturesinc.com or call (714) 283-9334.