The State and Local Government Disclosure Modernization Working Group is soliciting feedback on the Comprehensive Annual Financial Report Taxonomy (CAFR) Demonstration Release during a 60-day public review period that ends March 18, 2019.
Items tagged with "State and Local"
Government representatives, investors, analysts, and software providers invited to review XBRL US announced today that it has published a Demonstration Release Taxonomy representing selected portions of the Comprehensive Annual Financial Report (CAFR) used by state and local governments to report financial data. The taxonomy was developed by the XBRL US State and Local Government Disclosure […more]
The VIRGINIA LOCALITIES FISCAL PERFORMANCE REPORT – JANUARY 2019 analyzes the fiscal health of Virginia municipalities and recommends that CAFRs be produced using financial data standards such as Inline XBRL. This report was prepared by XBRL US members, Yossef Newman, Professor of Business and Accounting at Touro College, Marc Joffe, Senior Policy Analyst at Reason […more]
XBRL US white paper “XBRL US Center for Data Quality, an industry initiative for the common good”, details timeline, milestone and accomplishments to date including significant reduction in errors, greater engagement with regulators and expanding usage of XBRL data.
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 the Statement of Activities, Governmental Fund Balance Sheet, and Governmental Fund Statement of Revenues, Expenditures and Changes in Fund Balances. This is a Demonstration […more]
Barnet Sherman of Neighborly authors “The Four Letters Transforming the Municipal Bond Market and Government Financing” in Forbes on XBRL for municipal reporting. Read the article.
XBRL US submitted a comment letter to the Securities and Exchange Commission (SEC) related to their December 6, 2018 conference, The Road Ahead: Municipal Securities Disclosures in an Evolving Market. Our letter explained the work of the XBRL US State & Local Working Group to develop financial data standards for municipal reporting and urged the […more]
State CAFRs and Annual Financial Reports in standardized, computer-readable format will improve the ability to collect, aggregate, and analyze data, giving investors and policymakers the ability to make more timely, better decisions, while reducing the cost of data collection and analysis.
Attend this one-hour session to learn how financial data standards can improve the efficiency of state and local government data processing.
On October 5, Marc Joffe of the Reason Foundation published an article on Financial Reporting Standards Can Foster Municipal Market Disruption in the Financial Revolutionist. Below is an excerpt from the article: “While fintech start-ups are disrupting many financial markets, the US municipal bond market has been largely left behind. As a result, the $3.9-trillion muni […more]