Basic HTML Version
26
Strike up a conversation with almost any government
official these days and chances are it will be punctuated
with frustrations about budget cuts. That’s because
government entities of all sizes, types and jurisdictions
face unrelenting pressures to spend their limited revenues
wisely and to deliver their services more efficiently.
In the U.S., for example, cries for government cost-cutting reached maximum volume in 2011
with Congress executing legislation mandating automatic budget cuts, known as sequestration,
to begin in 2013. Sequestration served as a wake-up call for many federal agencies facing new
levels of budget and staffing constraints, forcing agencies to implement efficiency and cost saving
initiatives to keep critical programs in place.
Responding to Budget
Constraints: It’s in the Cards
Gonca Latif-Schmitt
Head of North America
Commercial Cards,
Treasury and Trade
Solutions,
Citi