Financials and Contract Renegotiation

Leeb Partners focuses on working with the local unit’s officials, the staff, and the other outside professionals to correct financial problems and to help it to regain stability and prospects for a viable future.  Our services would be tailored to the needs of each unique situation but examples of these services include:

  • Evaluating the immediate situation and impending reporting requirements; helping to control cash flow needs and meet critical deadlines
  • Assisting with required reporting and approval processes; identifying delinquent financial reporting, accounting backlogs, dysfunctional financial processes, and/or ineffective internal controls
  • Reviewing the status of current projections/budgets vs. actual results, determining their accuracy, developing alternatives, preparing recommendations for addressing and correcting problems and assisting in restoring compliance, credibility and confidence
  • Assisting in developing realistic deficit elimination plans and/or other fiscal remediation plans
  • Reviewing collective bargaining agreements, staffing levels, salaries and benefits and preparing recommendations to assist in labor negotiations and communications to employees
  • Reviewing management staffing and preparing recommendations for improvement
  • Assessing operations and facilities and identifying opportunities to increase revenues, reduce costs, outsource or consolidate services with other entities; preparing recommendations for reallocation of resources to address immediate and future needs
  • Developing strategies and the building of consensus; providing guidance if needed; assisting with public relations initiatives; participating in communications, presentations or negotiations with other key stakeholders and rating agencies
  • Reviewing the status of trust payments such as submissions of withholding payments and the distributions of tax revenues and assisting in developing a plan to ensure compliance
  • Reviewing the status of litigation and assisting with strategies or negotiations to reduce exposure
  • Identifying underutilized assets, income or financing opportunities; evaluating the benefits of various alternatives for potential restructuring, reorganizing operations or asset sales
  • Reviewing the status and accuracy of accounts payable, pension liabilities, bonds, notes, and uncontested legal obligations to determine cash flow needs, delinquencies and risks of adverse actions; assisting in developing plans to resolve same and/or negotiating payment plans
  • Analyzing and developing new fee or rate structures
  • Assisting with debt restructuring and/or bond issues
  • Increasing tax collections
  • Working on special projects such as identifying potential collaborations, alliances and mergers in order to improve the local unit’s financial position
  • Helping to develop multi-year financials to quantify the results of turnaround plan changes and set timing/milestone expectations; developing contingency planning
  • Establishing accountability for the success of the plan
  • Providing other turnaround consulting services as appropriate

In order to hold costs to an absolute minimum, Leeb Partners works with the appropriate local unit staff personnel and other professionals as much as possible.