Begin using our impact app today as part of your management and assurance process to deliver and report on economic life cycle impacts from your economic development efforts. With the implementation of the Government Accounting Standards Board Statement No. 77 on reporting the foregone taxes from abatements, now is the time to start reporting on the economic impacts of your efforts.
For each economic development incentive program that you need to report on, get a workbook packed with economic impact data and charts that you can easily format. Simply enter your economic development scenario and we account for all connections over the production and income life cycles to produce pro forma impact budgets. Then, audit the information in these workbooks to provide assurance that the impacts you report are realized in your local economy.
Read our paper, Using Economic Life Cycle Accounting to Improve Economic Development Performance, to gain a better understanding of how to use our tools in your assurance process. For an example of the pro forma economic accounting reports, see the paper's associated workbook.