Regional financial planning plays a fundamental role in the support of population growth and national prosperity. Many levels of government share an obligation to address the affordability of population growth and its prosperity. Despite significant investments by all orders of government, more needs to be done to address current and emerging threats to the financial health of Canadian regions.
Our interdisciplinary team of specialists work with regions to insert their system of financial accounting into the Prosperity at Risk simulator. This then allows a region to forward simulate for each year for 50 years forward a full system of regional accounts and asset values that are consistent with Canadian generally accepted accounting principles and include the effects of:
- Integrating financing strategies with the details of the asset management plan
- Population and industry growth
- Municipal fiscal revenue policies and scenarios
- Other government funding policies and scenarios
- Service enhancements
- State of good repair servicing requirements
- Financing expenses
- Operating expenses and human service requirements
The ability to connect the financial risks, operating expenses and investment financing strategies of a region with the challenges of affordable population growth and economic prosperity optimization is fundamental.
Regional financial account simulation supports planning, financial risk management and the design of a long-term, cooperative effort among the different orders of government.