CAFR Taxonomy, Demonstration Release

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 V0.2 and now includes: Statements […more]


How Data Transparency Can Help Fight COVID-19

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 Comments Prior to SEC Muni Conference “Spotlight on Transparency”

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]


Public Review: CAFR Taxonomy Demonstration Release

Monday, March 9 - Friday, May 8, 2020
XBRL US Public Review
Get details and comment on the Demonstration Release

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]


XBRL US CAFR Taxonomy Released with New Statements, Schedules and Footnotes

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]


SEC Fixed Income Markets Advisory Committee (FIMSAC) Addresses Muni Transparency

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]


Illinois House Resolution Encourages XBRL Use by Local Governments

The state of Illinois introduced House Resolution (HR 0703) on February 4, 2020, to encourage the use of XBRL for financial reporting by local governments within the state.  The resolution notes: “Will County Auditor Duffy Blackburn has been the first county official in the country to publish the county’s Comprehensive Annual Financial Report (CAFR) for […more]


SEC Announces Conference on Municipal Securities Disclosures

The Securities and Exchange Commission announced that they are scheduling a conference titled “Spotlight on Transparency: A Discussion of Secondary Market Municipal Securities Disclosure Practices” to be held on March 10  at SEC headquarters in Washington D.C. from 9:30 a.m. to 4 p.m. The event will be open to the public, with advance pre-registration available here. A livestream of the […more]


XBRL US CEO Participated in SEC Fixed Income Market Structure Advisory Committee

The Securities and Exchange Commission’ Fixed Income Market Structure Advisory Committee held a meeting on November 4, 2019 which addressed “Structured Disclosures by Municipal Issuers” featuring XBRL US CEO Campbell Pryde. Key messages conveyed during the panel included how XBRL data standards can be used to improve the efficiency and effective of municipal reporting. Separately, […more]


Reason Foundation Comments on SEC FIMSAC Discussion on Structured Municipal Disclosures

The Securities and Exchange Commission’ Fixed Income Market Structure Advisory Committee held a meeting on November 4, 2019 which addressed “Structured Disclosures by Municipal Issuers” featuring speakers from Municipal Securities Rulemaking Board (MSRB), Will County, IL, Municipal Market Analytics, XBRL US, and the Securities and Exchange Commission. Marc Joffe and Spencer Purnell of XBRL US […more]