CSMFO HONORS CITY WITH 2017 INNOVATION AWARD
City of Newport Beach is honored with the 2017 California Society of Municipal Finance Officer’s (CSMFO) Innovation Award for the Pension Cash Flow Modeling.
Long-term cash flow modeling is an essential element in making wise financial decisions. For decades, local agencies have focused solely on annual CalPERS rates and have not had the tools to analyze long-term expected cash flows. This obstacle has severely hampered their ability to evaluate more cost effective payment strategies.
The excel-based model enables local government entities to analyze their long-term cash flows associated with their unfunded pension liabilities identifying and quantifying the most efficient payment options.
Since 2013 the CSMFO Innovation Award is given to recognized local governments in finance that implement innovative ideas. CSMFO Article
The Association of California Cities of Orange County (ACCOC) recognized the Police and Finance. Click on title to read more.
The Golden Hub of Innovation - 2015 Innovations Complete Compendium of Ideas, including Budget and Finance: City of Newport Beach's winning Accelerated Pension Payment Savings Program found on Page 13 of the document.
The City of Newport Beach (City) won a Rose Award for its pension reform program at the Orange County Taxpayers Association’s (OCTax) annual Roses, Radishes and Royalty awards dinner held on July 20. Click on title to read more.
The City of Newport Beach (City) won two, 2013 Golden Hub of Innovation Awards and an honorable mention from the Association of California Cities Orange County (ACCOC) during an awards ceremony. Click on title to read more.