Client/Organization: Large Transit Agency Budget Office

Date/Duration: 2023-2024

The Challenge

EQ Collaborative partnered with a large transit agency’s budget office to modernize and streamline its financial management practices. The budget office requested our help to enhance transparency, efficiency, and accountability within the organization while ensuring compliance with complex public sector regulations. 

Our Approach

One of EQ Collaborative’s hallmark approaches is our co-creation of solutions for our clients and our adaptability and flexibility to their changing needs.  At EQ, we don’t just write a report that sits on a shelf - we help you to implement necessary change.  

The comprehensive suite of services we provided included:

• Budget Office Assessment, Analysis, and Optimization

• Conducted extensive budget versus actuals analysis. 

• Supported modified zero-based budgeting.

• Conducted labor cost analysis.

• Identified areas to improve budget clarity and process.

• Investigated and documented the proper use of budgeting accounts, policies and practices.

• Considered and ensured effective resource utilization.

• Process Improvement

• Recommended process improvements for purchase order encumbrances, grant project balances, and revenue management.

• Implemented the process improvements.

• Policy Development

• Reviewed existing financial policies.

• Documented not yet codified policies.

• Collaborated with stakeholders to refine existing policies. 

• Collaborated with stakeholders to create new policies where necessary.

• Ensured regulatory compliance at all levels.

• Staff Training and Support

• Provided knowledge transfer sessions for finance team leaders to assist with efficient adoption of new processes and policies.

• Created a library of training materials to support long-term adherence and efficient training of new staff.