Michigan releases funding for XBRL reporting project
Our readers will be aware of the innovative project between the University of Michigan Center for Local, State, and Urban Policy (CLOSUP) and XBRL US exploring how digital data standards can improve transparency in local government reporting and ultimately lead to better governance. It includes a pilot programme with the city of Flint and the development of an XBRL taxonomy, now out for review.
We are very pleased to learn that in recent days Michigan’s Governor Whitmer has signed off on a Bill allocating funding for the Michigan State Treasury to work “in partnership with a public university located in this state” to develop an information technology strategy focussing on machine-readable financial disclosures for local units of government, specifying the use of XBRL. This is excellent news in helping CLOSUP continue its work in bringing high-quality digital reporting to local governments in Michigan, and providing useful models and tools for governments elsewhere – and we look forward to coming developments.
Read more here.