The 2017 CFO Spotlight Survey attracted respondents from a number of industries in Phoenix and Tucson. We will highlight the governmental segment here in terms of growth, risk factors, strengths and trends.
CFOs in the government area were a small sample of this Survey.* Optimism improved from 2016, with a belief that the state and city economic climate were better than 12 months ago. A consistent tax structure, attracting skilled labor, and achieving regulatory cost reductions were their top priorities for 2017. They were concerned about cybersecurity, population growth, and retaining millennials. Their top change management issue was the structuring of compensation, but they were also focused on improving their technology to interface with more people online.
While changes in leadership can significantly affect their reputation, government CFOs saw solutions in cross-departmental training and enhanced communication as well as maintaining strong cash reserves.
Optimism? Somewhat uncertain
Access to Cash? Concerned
Border Security? Some impact
Environmental Issues? Not concerned
Millennials? Yes please
CFO Says: “We have expanded our use of reclaimed water to mitigate drawdowns in our aquifer.”
Top Areas of Focus:
CFOs in government are embracing social media for recruitment as well as outreach to stakeholders and the public.