There’s always a list. Here’s what I’ve picked up lately from a variety of conversations and presentations.
- Inflation, and its effect on direct costs and interest rates. Investment rates are rising in the same fashion.
- Supply chain disruptions – maybe improving, but still a problem and unpredictable
- When we bid a project, we’re never sure if we’ll get enough contractors to bid, or if the bid price will be close to the estimated cost
- When we put out an RFP for financing, we never know if we’ll get a bid that will fit our projected budget – or if we will get a bid at all
- We can’t get construction or financing bidders to hold bids long enough to get through the LGC or other financing processes
- Lease accounting is an expensive nightmare and does nothing for the actual users of our financial statements
- Developing and retaining talent in the finance function and beyond
- Quality and responsiveness of our vendors is deteriorating for many of the same reasons.
- With Truist stepping back from the local government lending market (whether that’s how the bank sees it, or not), how is that void going to be filled?
- How will the potential SECU – LGFCU split affect access to banking for our employees?
- The finance officers’ job is getting bigger and more complex, and that’s not appreciated by senior management or the governing board (and compensation is another whole problem)
What have I missed?