Here City Manager Bernie Lynch talks about forecasting WRT the City's budgets:
We do project challenging budgets over the next five years based upon realistic and conservative projections. There are no rosy scenarios. These forecasts should and will be the basis of our strategy moving forward to achieve the goals of controlling costs and maintaining fiscal stability. The FY11 budget in its entirety, the Budget presentation and the Five Year Forecast can be found at the click.This was in response to an editorial in The Lowell Sun on Tuesday.
I loved the line, "It Wasn’t Raining when Noah Built the Ark". So true and it captures the point about forecasting. If Noah had waited for it to start to rain he would have been too late.
This is a think for yourself kind of issue.
Regards — Cliff
PS: Remember, Lowell Sun items go away after about a month and I am unlikely to update the link. You will be on your own.