The American Rescue Plan: How Best to Invest?

DENVER, March 23, 2021 /PRNewswire/ -- The American Rescue Plan (ARP) infuses $350 billion into local governments to ease the immediate financial trauma facing every community across the country. It provides options to overcome shortfalls while simultaneously rebuilding for a stronger, more sustainable future. Many local governments are working to "Build Back Better" as they search for ways to fully utilize these funds in support of their communities.

Many decision-makers' tension centers on the best use of one-time funding, given so many needs for these resources. ResourceX establishes both a short-term and long-term strategy. There are urgent needs, demanding resources. Yet, this funding presents a once-in-a-lifetime opportunity to invest meaningfully into building a long-term, sustainable future. How can local governments eliminate the tension and achieve both goals?

Free Webinar with ResourceX
One Time Funds for Long Term Sustainability
Thursday, March 25
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Local government leaders stand to benefit from Priority Based Budgeting's decision-making framework that creates insights towards both objectives. The PBB framework helps address:

• What should the proper order of funding be, from supporting people in need to creating long-term opportunities?
  
  
• How to best evaluate requests to restore programs according to each program's alignment with their organization's vision?
  
  
• How do organizations prioritize this one-time funding, especially as ongoing, programmatic, and personnel-related needs present themselves?
  
  
• How can organizations identify and prioritize capital investments that can create ongoing savings?

Decision-makers will face immense pressure in determining where to allocate ARP funds. Best practices and policy guidance urge caution using one-time monies to fulfill ongoing needs, yet we must empathize with and have a strategic solution for these pressures.

While the short-term strategy addresses undeniable and urgent needs, ResourceX's long-term strategy focuses on creating long-term sustainability and resiliency. PBB provides a pathway to leverage the power of unprecedented resources to commit to your most challenging goals and builds capacity to prepare for the future.

The PBB community understands that programmatic data is key to executing these strategies, and the PBB framework establishes a straightforward process for evaluating and prioritizing funding. For those not yet in the community, creating programmatic data will go a long way towards setting you up for long-term success.

Priority Based Budgeting is a methodology and software to support the creation of accessible and actionable data that drives decision-making in the budget process.

Media Contact: Liz Johnston, ResourceX, [email protected], (817) 676-6830

SOURCE ResourceX

Related Links

https://www.resourcex.net

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