Finance Tactics

    Tactic Name

Description

Success Outcome 1

Success Outcome 2

Financial Reporting Improvement

Implement user-friendly, easily accessible financial information that is relevant to communicating the value provided by RTD services.

Financial Success

Community Value

Adherence to Fiscal Policy

Evaluate processes for adhering to fiscal and financial policies.

Financial Success

Community Value

Internal Collaboration Process Improvement

Develop and implement processes to improve collaboration among internal team members; establish regular cadence of engagement and feedback.

Employee Ownership

 

Budget Alignment with Strategic Plan

Develop a process for evaluating project budget requests based on the success outcomes defined in the strategic plan; evaluate processes for eliminating unused budget funding and better budgeting by period of budget needs.

Financial Success

Employee Ownership

Quarterly Budget Meetings

Establish a quarterly cadence for budget review to include employees interacting directly with budgeting decisions to ensure that the right people are included in the decision-making process at an early stage.

Financial Success

Employee Ownership

Data Sharing and Reporting Process Refinement

Evaluate existing data-sharing processes and policies and refine the system to increase efficiency; data automation to identify whether or not a data request is valuable

Employee Ownership

 

Meetings that Matter

Implement a Meetings that Matter strategy to encourage an organizational culture focused on active and purposeful engagement in meetings.

Employee Ownership

 

Expenditure Prioritization and ROI Review

Implement a plan to perform an after-action review and return on investment review to support financial decisions; perform a comparative analysis among fare options

Financial Success

 

Community Value

Grants Prioritization and Success Outcome Alignment

Develop a mechanism to track grant utilization and ensure that it is intended for the projects for which the grant was secured.

Financial Success

Employee Ownership

Process Improvement, Documentation, and Training

Create outlines of the steps necessary to complete internal tasks and processes.

Customer Excellence

 

Inter- and Cross-Departmental Communication

Identify areas of weak interoperability; design and implement a shared inter-departmental communication system to ensure access to all required data, and collaboration across a project's timeline.

Employee Ownership

 

Improvement of Work Structure

Identify new ways to improve how things are done and to implement innovation if necessary.

Employee Ownership

Customer Excellence

Cash Flow Efficiency

Implement a plan for tracking and adjusting for cash flow efficiency.

Financial Success

Community Success