Government agency representatives, municipal analysts and investors, software providers, and other users of state and local government data are invited to review and comment on the data standards developed to represent sections of the Comprehensive Annual Financial Report (CAFR). This is Version 0.3 of the Demonstration Release, which builds on the previous Demonstration Release and […more]
On September 30, 2020, Forbes published “A Technology Solution for Muni Bond Disclosure” by Barnet Sherman, an article that suggests that momentum is building for greater standardization in municipal reporting. In the article, Sherman notes: “…The new chair of the Governmental Accounting Standards Board (GASB), Joel Black, wrote that during his tenure, one theme will […more]
Illinois-based College of DuPageleads move to electronic financial reporting for Illinois community colleges Register for the free webinar.
XBRL US member Liz Sweeney of Nutshell Associates discusses data standards to improve state and local government reporting on Municipal Beat Podcast. Listen to the podcast.
Most U.S. government data agencies today do not require data standards for information reported by businesses, grantees, or state and local governments. Agencies could easily transition to data standards programs, with gains for all stakeholders: reporting entities would eliminate duplicate data preparation, and enjoy low costs from competitively priced preparation tools government agencies would experience […more]
Marc Joffe of the Reason Foundation, and Chair of the XBRL US Standard Government Reporting Working Group, writes that to make better-informed decisions about coronavirus, governments should be publishing comprehensive, machine-readable data sets. The article goes on to note: “In the weeks since COVID-19 became a pandemic, a plethora of data dashboards have been launched […more]
XBRL US submitted a comment letter to the Securities and Exchange Commission’s Office of Municipal Disclosures in advance of their scheduled conference “Spotlight on Transparency: A Discussion of Secondary Market Municipal Securities Disclosure Practices”. The XBRL US letter advocated for the use of data standards for state and local government reporting and asked that the […more]
Comment on this Demonstration Release through May 8, 2020 Standard Government Working Group is soliciting feedback on the Comprehensive Annual Financial Report Taxonomy (CAFR) Demonstration Release during a 60-day public review period. Input is requested on: Definitions and references for the elements. Are the definitions accurate? Are references appropriate? Should revisions or modifications be made? […more]
Now includes Single Audit Report schedules for municipalities and other federal grantees XBRL US announced today the public review of the third version of the demonstration Comprehensive Annual Financial Reporting (CAFR) Taxonomy, which now includes seven financial statements, two footnotes, and two schedules from the Single Audit Report. The taxonomy will be published for a […more]
The Securities and Exchange Commission’s Fixed Income Markets Advisory Committee held a meeting on February 10, 2020 including a panel on “Draft Municipal Securities Transparency Recommendation Regarding Timeliness of Municipal Issuer Disclosures”. Speakers on the panel were: Geidre Ball, Metropolitan Washington Airports Authority Emily Brock, Government Finance Officers Association Akiko Mitsui, Vanguard Hannah Sullivan, Fidelity […more]