ACFR Taxonomy 2022

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 Annual Comprehensive Financial Report (ACFR). This version of the ACFR Taxonomy is open for comment through Monday, August 15. The Release […more]


Annual Comprehensive Financial Report Taxonomy, Demonstration Release, 2021

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 Annual Comprehensive Financial Report. This is Version 0.3 of the Demonstration Release, which builds on the previous Demonstration Release (August, 2020) […more]


The University of Michigan moves to modernize government financial reporting

Marc Joffe, Senior Policy Analyst at Reason Foundation (XBRL US member) noted in a recent blog post, “XBRL can make data from state and local governments more digestible and publicly available. In 2002, three academic researchers proposed applying eXtensible Business Reporting Language (XBRL) to state and local government financial reporting to make municipal data more digestible and […more]


Public Review: Annual Comprehensive Financial Report Taxonomy

Wednesday, June 15 - Monday, August 15, 2022
XBRL US Public Review
Get details and comment on the Release Candidate

The University of Michigan’s Center for Local, State and Urban Policy (CLOSUP) is working with the XBRL US Standard Government Reporting Working Group (SGR) to modernize and digitize Michigan local government financial reporting, with the City of Flint as the first local government partner and pilot site.


MSRB Request for Input on ESG Practices in the Municipal Securities Market

The Municipal Securities Rulemaking Board (MSRB) published a Request for Information on Environmental, Social and Governance (ESG) Practices in the Municipal Securities Market. The Board seeks input on how best to enhance issuer protection, investor protection, and the overall fairness and efficiency of the municipal securities market in relation to: (1) the disclosure of information […more]


XBRL US Comments on GASB Exposure Draft

XBRL US submitted a comment letter to the Governmental Accounting Standards Board (GASB) in response to their public exposure of Project No. 3-20 (Recognition of Elements of Financial Statements) and Project No. 3-25 (Financial Reporting Model Improvements). Our letter emphasized the importance of considering how state and local government data is used, noting: We believe […more]


XBRL US Comments on MSRB Notice

XBRL US submitted a letter commenting on the MSRB’s Strategic Goals and Priorities which asks the MSRB to consider how data standards would impact the current EMMA (Electronic Data Municipal Markets Access) data collection and dissemination process. We pointed out that we support the use of data standards to improve efficiencies in the reporting and […more]


MSRB Notice: Request for Comment on Strategic Goals & Priorities

On December 7, 2020, the Municipal Securities Rulemaking Board (MSRB) published a notice requesting input on their strategic goals and priorities to help them assess the long-term direction of the MSRB. They are looking for input on how the MSRB is fulfilling its Congressional mandate to develop rules and systems to support the municipal securities […more]


Forbes Article: A Technology Solution for Muni Bond Disclosure

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]


College of DuPage Leads Move to Electronic Financial Reporting for Illinois Community Colleges

Illinois-based College of DuPageleads move to electronic financial reporting for Illinois community colleges Register for the free webinar.