Five For the Future: A 5-Tiered Framework to Act on the American Rescue Plan Funds
The federal funding is an incredible opportunity to create a more sustainable future if invested correctly. The ResourceX framework tackles the question, How best to invest?
DENVER, July 7, 2021 /PRNewswire/ -- The American Rescue Plan Act (ARPA) infused billions into local governments, easing the immediate financial trauma facing every community across the country. While the funding is undoubtedly a blessing to communities in crisis, there also comes with it a predicament: how best to invest?
While short-term strategies address the undeniable, urgent needs, a future-focused strategy leverages the power of unprecedented resources to commit to your most challenging goals. ResourceX CEO, Chris Fabian, addresses this tension facing decision-makers on how best to balance short-term needs and long-term vision in his Five for the Future 5-Tier Series.
Tier 1: People in Need: Address, preserve, and fill personnel needs with one-time funds without creating ongoing problems.
Tier 2: Emergency Budget Stabilization: Responsibly replenish programs while supporting and revitalizing the community.
Tier 3: Prioritize Budget Amendments: Identify, prioritize, and act on programs that are no longer serving or are underserving the community or that are needed and not currently funded.
Tier 4: Leverage Partners: New funds and new opportunities increase our ability to explore how we offer programs through partnerships to increase the effectiveness of ARPA funds.
Tier 5: Big Swings: COVID paused many important projects and ideas that we need to reengage with to prepare for the future.
There are many voices offering guidance, but Chris Fabian provides local government leaders a framework for acting. Each tier outlines a problem, presents a solution, and provides the action to achieve that solution. Access the ResourceX materials and review case studies of municipalities who have put this strategy into practice at www.resourcex.net/five-for-the-future.
Each tier of the framework works towards two main goals:
Proposal Generation: How to generate great proposals for programs and projects that meet guidance and objectives.
Proposal Evaluation and Prioritization: How to score, evaluate, and prioritize among the various incoming proposals and incorporate them into the budget.
ResourceX knows local governments are uniquely positioned to drive positive change in their community. To be successful, you need meaningful data that encourages decisions that align resources to priorities. ResourceX provides a pathway to action and serves local governments in pursuit of a better future.
Contact:
Liz Johnston
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SOURCE ResourceX
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