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The economic crisis brought many cities and municipalities to the brink of collapse. Budget deficits have risen, long-term debts driven by health care and pension obligations have soared, and city services have been stretched thin.

Conway MacKenzie’s Government & Municipal Industry group assists governmental entities to manage crisis situations and effectuate long-term solutions on behalf of a variety of constituents.

Our services include:

  • Immediate hands-on assistance
  • Assist in development, review and implementation of emergency action plans
  • Evaluate potential sales of assets and other cash generating initiatives
  • Help re-establish credibility and communication with constituents
  • Stabilize situation and evaluate both Chapter 9 bankruptcy and out-of-court options

If Chapter 9 bankruptcy is required, we can:

  • Assist in short-term budget requirements and ongoing cash management decisions
  • Prepare long-term projections and assist in developing and negotiating a Plan of Adjustment
  • Work with counsel to successfully emerge from bankruptcy
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The Engagement

Conway MacKenzie served as the operational restructuring advisory to a large municipality with $2.5 billion in revenue and $18 billion in liabilities.

Our Role

Conway MacKenzie assisted the municipality in evaluating, developing, negotiating and executing the short and long-term operational restructuring actions the Municipality undertook to achieve improved service delivery, structural cost savings, enhanced revenue generation and eliminating the deficit. Key areas of focus for Conway MacKenzie included: (1) General Fund departments with significant revenues, expenditures, and/or outstanding A/R balances, (2) Enterprise Fund departments with significant subsidies from the General Fund, (3) common processes impacting departments across the Municipality (e.g. collections, finance, treasury, IT, HR, etc.), (4) redundancies across departments/agencies.

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