In the current fiscal environment, Pennsylvania is constantly facing tough budget choices, causing policy makers to seek programs and policies that yield the greatest benefits in the most cost-effective way. Impact Based Budgeting as presented by the Pew-MacArthur Results First Initiative involves:
- Systematically identify which programs work;
- Calculate potential returns on investment of funding alternative programs;
- Rank programs based on their projected benefits, costs, and investment risks;
- Identify ineffective programs that could be targeted for cuts or elimination; and
- Predict the impact of different policy options.
GPNP will continue conducting programs about impact-based budgeting as an increasing number of government agencies and funders are interested in applying this framework and our membership must be prepared and involved.