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Challenging fiscal times test the strength of an organization's backbone, but they also provide an opportunity to strengthen policies, enhance analytical infrastructure, and inspire fresh perspectives. State and local government are facing uncertain times, and the key to weathering any storm is the tone set by financial leadership. Leaders clearly communicate the challenges the organization is facing to all stakeholders, early and often. Financial leadership helps the organization cope with changes that are inevitably brought about when tough decisions must be implemented.
Traditional sources of revenue have been dwindling and are ...