Many state and local governments want the outcomes that come from a priority-based budgeting approach, but they lack the time, internal staff, and resources needed to go through the process.
ResourceX helps organizations overcome this roadblock by applying AI modeling technology that allows them to develop and manage their budgets more efficiently and increase their impact on community priorities.
AI modeling provides government decision-makers with the data and insights they need to align budgeting with the principles of priority-based budgeting (PBB) by:
- Communicating the budget programmatically rather than departmentally by line item.
- Providing visibility into what choices are being made to provide services to residents and why.
- Identifying ways to reallocate resources and/or create new revenue streams to fund high-priority programs.
Keep reading to learn four key ways AI modeling improves government budgeting by aligning processes with PBB—and how that translates to delivering the highest priority programs to the community.
Leveraging AI Modeling for State and Local Government Budgeting
We aren’t going to dig too deeply into the technology, but it is important to know that, at a high level, the ResourceX platform uses AI modeling to take data, make logical connections, and discover patterns within the data to make several powerful predictions.
Predict Program Inventory
Creating a program inventory lays the foundation for your priority-based budgeting processes.
Using AI, our PBB solution analyzes existing departmental budget data—including personnel, non-personnel, and operational line items—to create an inventory of the programs your organization offers.
Caption: Program inventory
Predict the Costs of Programs
AI modeling allows you to predict how much of your strategic budget is being applied to a specific program. This insight creates a better understanding of the actual costs of a service, which in turn provides more meaningful points of comparison to help decision-makers allocate funds to the highest-priority programs.
Caption: Program costs
Predict Scoring
AI modeling helps decision-makers score programs to establish priorities. Each program in the inventory is evaluated based on five attributes:
- Demand
- Mandate
- Population served
- Recovery cost
- Reliance
The programs are then prioritized against the individual community’s most important investments and outcomes, such as:
- Transportation
- Housing
- Environment
- Equity
- Safety
- Economy
These scores help determine whether you are spending money on the “right” programs.
Caption: Budget and fund comparison
Predict Optimization Opportunities
One of the most powerful benefits of using AI modeling to support budgeting efforts is the ability to analyze huge datasets and identify where budgetary dollars can be cut or reallocated. In fact, some PBB adopters have been able to uncover up to 10 percent of their budget to reallocate to higher priorities.
This information also helps pave the way to identifying sources of new revenue generation, opportunities to outsource programs to private companies, and potential partnerships with other government entities to share resources.
Caption: Budget and fund comparison
ResourceX is Pioneering AI Modeling to Transform State and Local Government Budgeting
ResourceX has harnessed the power of AI modeling to help our customers move quickly through customized priority-based budgeting implementation. Our product provides predictive data that creates a springboard for customers to dive headfirst into PBB and start reaping the benefits of PBB reallocation.
Here’s a look at what we’ve helped our customers accomplish so far:
- 300+ implementations
- 125,014 individual local government programs
- $34.7 billion in program costs tracked at the service level
- Scalable solutions for PBB budgets fanging from millions to billions of dollars
- Solutions supported by a trained data scientist who is also a PBB expert
And we are just getting started.
Want to learn how ResourceX’s priority-based budgeting platform can help your organization leverage AI modeling to drive better outcomes in your community? Let’s chat! Request a demo today.
