10/08/2024
Does your district need additional funds? The best, most efficient way to generate additional revenue without new taxes is through analytics-based cost management. Cost management offers three strategies: cost cutting, cost improvement and cost management. Cost cutting is often the first choice of district chief financial officers but rarely the best unless it's informed by analytics. Cost improvement focusses on improving the efficiency or productivity of a service or program and thereby reducing the cost. Cost management focuses on setting spending or cost targets and staying focused on cost targets.