Forecasts for Cantonal Financial Budgets
As an independent economic research institute, BAK Economics has been combining scientifically sound empirical analysis with practical implementation for over 40 years. With data-based analyses and forecasts, future opportunities and risks for your financial budget can be identified, thus laying the foundation for a successful financial strategy.
Your benefit
| Strategic support Professional support in strategic as well as operational processes including well-founded classification of regional and market developments. |
| Avoid inefficiencies Basis for long-term sustainable development of cantonal public finances. |
| Measures to reduce the risks of budgeting mistakes and manipulation By using a suitable, standardised forecasting model, the risks of methodological and technical errors in the preparation of the tax revenue forecast can be reduced and transparency created. |
| Achieve your financial goals Developing measures and eliminating structural deficits. |
BAK offers public administrations tax revenue forecasts as well as forecasts for all revenue and expense items of the financial budget.
Tax revenue budgeting is a central element in the preparation of a community's budget. Tax revenues are the decisive key figure, accounting on average for 60 per cent of total revenues. The goal of the tax revenue forecast is to match it as closely as possible with the tax revenues actually generated in the upcoming year. The challenge here is to estimate the changes of the key factors influencing the tax yield as reliably as possible. In addition to the economic development, the development of the resident population (growth, income) also influences the amount of the expected tax revenue.
Within the framework of the cooperation, the relevant risks are identified and a suitable strategy for reducing or even eliminating them will be developed. In order to create a realistic multidimensionality and to evaluate the probability of occurrence of the identified risks, alternative economic, political and social scenarios are developed, the risks are linked to them and the probability of their occurrence is calculated. In this way, a sound financial strategy can be developed and, with subsequent consultation, the steps to achieve the financial policy goals can be sustainably integrated into the daily work processes.