Featuring keynote speaker:
California State Treasurer Fiona Ma, CPA
After a period of municipal financial stability, California local governments are once again facing fiscal distress with Oakland officials openly discussing the possibility of Chapter 9 bankruptcy. A robust system of municipal financial reporting and monitoring can provide early warnings of fiscal trouble and allow policymakers at the state and local level to proactively address them.
California State Treasurer Fiona Ma, CPAThe Financial Data Transparency Act (FDTA), federal legislation passed in December 2022, offers the opportunity to improve local financial oversight by implementing machine-readable financial reporting. FDTA could restart efforts to improve California’s fiscal reporting and oversight which have included the State Auditor’s High Risk Local Government dashboard which was decommissioned in 2023 and the Open Financial Statements Act (SB 598) of 2019, legislation calling for local governments to report financials in machine-readable format using open data standards. Although ultimately SB 598 was not signed into law, its passage was a precursor to the nationwide FDTA.
Join the original supporters of the Open Financial Statements Act and others to learn about the potential impact of the FDTA on California governments, and participate in the discussion about how to implement this program efficiently and effectively.
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| Agenda | |
| 8:45 – 9:00 AM | Opening Remarks |
| 9:00 – 9:30 AM | Keynote: California State Treasurer Fiona Ma, CPA
California State Treasurer Fiona Ma, CPA, California’s 34th State Treasurer, will provide remarks on the importance of transparent, actionable data to improve efficiencies and inform citizens and policy setters. |
| 9:30 – 10:00 AM | Digital Data for California
John Moorlach, Senior Fellow & Director, Center for Public Accountability, California Policy Center As California State Senator for the 37th Senate district, John Moorlach sponsored Senate Bill 598, legislation to enhance the usability and transparency of local government financial data. Despite bipartisan support, SB 598 was not signed. In this session, former State Senator Moorlach explains his vision for greater accountability and transparency for California governments driven by access to machine-readable, digital financial data. |
| 10:00 – 10:30 AM | California Policy Center Local Fiscal Health Dashboard
The need for easily accessible, timely data to monitor and identify high risk local governments is critical. This session will showcase the CPC Local Fiscal Health Dashboard, which tracks the financial health of California cities, counties and school districts. Speakers:
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| 10:30 – 10:50 | Break |
| 10:50 AM – 11:20 PM | Digital Reporting Initiative for Governments |
| 11:20 – 12:20 | Digital Government Financials in Practice
This session aims to take the mystery out of preparing and using financial data in machine-readable format. Hear from accounting professionals, municipal researchers and others on how governments can prepare digital financials and how municipal stakeholders will use the data. Learn what the Governmental Accounting Standards Board (GASB) is developing to help governments get ready. Speakers:
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| 12:20 – 1:20 PM | Networking Lunch |
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Prerequisites: None
Program Knowledge Level: Basic
Advance Preparation: Be familiar with the Federal Data Transparency Act
Program Format: Group Live
