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 and now […more]
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 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]
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]
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]