Items tagged with "government"

Florida 2022 Annual Financial Report Taxonomy Finalized

The Florida Division of Accounting & Auditing has partnered with the Office of Information Technology to build the new Florida Open Financial Statement System, and have finalized and published the 2022 Annual Financial Report Taxonomy. Local governments will have the option to provide their financial data in the same manner they currently utilize, where it […more]


Newsletter for the Reporting Standard of Business and Government

July, 2022 Michigan State appropriates funding for preparation and collection of local unit government disclosures in XBRL. House Bill 5783 was signed by Governor Whitmer and includes appropriations for fiscal years 2022 and 2023. The IT funding is to be used by Michigan State Treasury to develop an IT strategy focusing on machine-readable (XBRL) financial […more]


Michigan House Bill 5783 Appropriates IT Funds for Machine-Readable (XBRL) Govt Data

Michigan Governor Whitmer signed off on House Bill No. 5783 which includes appropriations for fiscal years 2022 and 2023. The bill includes funding for Michigan State Treasury to work in partnership with a public university located in Michigan to develop an IT strategy focusing on machine-readable financial disclosures for local units of government, and that […more]


June 2022 Newsletter

June, 2022 The University of Michigan (U-M) launches a public review of government financial data standards. Governments, standard setters, regulators and analysts are encouraged to review and comment on the Annual Comprehensive Financial Reporting (ACFR) Taxonomy, which represents seven financial statements and four notes, in addition to Michigan-specific reports that local entities submit along with […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]


University of Michigan and XBRL US Launch Public Review of Government Data Standards

Governments, standard setters, regulators, and analysts encouraged to provide input XBRL US, a nonprofit standards organization, and the Center for Local, State, and Urban Policy (CLOSUP) at University of Michigan’s Gerald R. Ford School of Public Policy, announced the publication of digital financial data standards for local government reporting entities, that can be used to […more]


May 2022 Newsletter

May, 2022 With Memorial Day behind us, the start of Summer is right around the corner (officially June 21). Time for barbecues, picnics, heading to the beach… And this year, more rule proposals and final implementations with structured data requirements from the SEC! Two new SEC proposals focused on investment management filers were published in […more]


Federal Data Transparency Act Introduced to the Senate

On Tuesday, May 24, the Financial Data Transparency Act (FDTA) (S.4295) was referred to the Senate Committee on Banking, Housing, and Urban Affairs. The bill is sponsored by Senator Mark Warner (Democrat) and co-sponsored by Senator Mike Crapo (Republican). The FDTA legislation directs the Department of the Treasury, Securities and Exchange Commission, Federal Deposit Insurance […more]


April 2022 Newsletter

April, 2022 The XBRL US ESG Working Group announces publication of machine-readable corporate sustainability data. The working group, which is responsible for the paper, Supporting ESG Data with Standards, worked closely with Etsy, the company that operates two-sided online marketplaces matching millions of buyers and sellers around the world, and with Moody’s Corporation, the parent […more]


March 2022 Newsletter

March, 2022 Environmental issues remain in the headlines! The SEC has published their long-awaited rule proposal on climate, Enhancement and Standardization of Climate-Related Disclosures, and conducted a special hearing to discuss and vote. The proposal, which passed by a vote of 3-1, establishes requirements for domestic and foreign registrants to disclose certain climate-related information in […more]