Basin Electric has adopted a rolling financial forecast model to increase transparency and agility in financial planning.
“Implementing a rolling financial forecast will improve our ability to adapt to changing market and commodity conditions, provide lead-time for potential rate changes, and ensure resources are deployed strategically for the greatest member benefit,” said Katrina Wald, Basin Electric vice president and controller.
The new rolling financial forecast will be updated three times a year, rather than annually, and will include projections for the current year and two years ahead. Updates will coincide with the Winter and Summer Member Manager’s Conferences, along with an additional update in December.
Key goals of the rolling forecast include increasing transparency around conditions impacting rates and financial decisions, enhancing operational and financial agility, and strengthening collaboration with Basin Electric’s membership.
“For this initiative to succeed, timely updates from all contributors are essential,” said Wald. “We’ll be asking for assumption updates more frequently, and we are making this a high priority as it is key to meeting our strategic objectives.”
