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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 is engaged as the operational restructuring advisory to a large municipality with $2.5 billion in revenue and $18 billion in liabilities.

Our Role

Conway MacKenzie is assisting the municipality in evaluating, developing, negotiating and executing the short and long-term operational restructuring actions the Municipality will undertake to achieve improved service delivery, structural cost savings, enhanced revenue generation and eliminate the deficit. Key areas of focus for Conway MacKenzie include: (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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