Financial Management

Our Work in Financial Management

We have direct experience in creating financially stable and revenue generating ice arenas, indoor soccer arenas, and golf courses, along with scholarship or financial aid programs for the marginalized communities. Also, we have experience in building and creating budgets that are able to stand the test of duress and hardship.

IMPORTANT THEMES

Key Factors

Both direct and indirect costs play a role in all programs. Yet, we do not typically include indirect costs to the cost of the program, and in turn, it creates a gap that has to be subsidized. A flexible and nimble Cost Recovery Model can offer a way out by having patrons with the ability to pay, do so, while subsidizing the ones who cannot.

Fees should thus be set by charging more for programs that cater only to a few, while programs that cater to many should collect a lower fee. This creates more equity and sustainability in the system.

Enterprise Funds are typically programs and facilities that can pay their own way in full cost recovery—some golf courses and sports programs, pre-schools, and stadium operations.

The PNR Analysis

It is absolutely important in the business of parks and recreation to know where the money that sustains your agency comes from and what form it takes. Knowing that sets the tone for all that follows from it.

We become our own worst enemy when we profess to not knowing much about finance and budgets. Staff should be involved at all levels in the creation of- and then management of the approved budget. The Budget should serve as a tool and a guide, not the be all and end all. Many innovative ideas get shelved due to the lack of actual budget allocation, while it can be resolved by having the background information on how budgets are created. Monies can be allocated after.

PROJECT MANAGEMENT

FACILITY MANAGEMENT

FINANCIAL MANAGEMENT

ORGANIZATIONAL MAKE-UP

COMMUNITY ENGAGEMENT

PARKS MANAGEMENT

RECREATION MANAGEMENT

THE INTANGIBLES