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Items tagged with "Municipal"

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Untangling municipal securities with the LEI

Earlier this month Campbell Pryde, President and CEO of XBRL US, addressed the complexities of identifying obligors in the municipal bond market. He highlighted how leveraging the Legal Entity Identifier (LEI) within the Municipal Securities Rulemaking Board’s (MSRB) Electronic Municipal Markets Access (EMMA) system can streamline data searches.

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Unveiling municipal finance’s next chapter

Mark Funkhouser, former Mayor of Kansas City, Missouri, and a prominent figure in municipal finance, recently released a white paper titled “FDTA Playbook: Owning your fiscal future.” Sponsored by XBRL US member, DebtBook, this publication comes at an important juncture for government entities grappling with the implications of the Financial Data Transparency Act (FDTA).

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Financial Data Transparency Act: find out about local government finances

Heightened transparency is on the horizon at state and municipal level in the US, with last years Financial Data Transparency Act (FDTA) set to transform the way local governments, including school districts, disclose financial information by introducing a machine-readable format.

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Municipal reporting and the implementation of the FDTA

XBRL US held its GovFin2023 conference in Washington DC yesterday. The event brought together a significant number of experts from the XBRL community, US regulators as well as state and municipal reporting experts to discuss the upcoming implementation of the Financial Data Transparency Act or FDTA.

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States show the way with insights into FDTA implementation

Marc Joffe, Senior Policy Analyst at The Cato Institute, highlighted the role of state-level reporting systems in shaping the implementation of the Financial Data Transparency Act (FDTA). Joffe’s insights shed light on how states could provide a model for FDTA execution.

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IPSASB kickstarts project to develop global public sector sustainability standards

The International Public Sector Accounting Standards Board (IPSASB) has embarked on a project to develop sustainability reporting standards for the public sector.

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SEC Chair advocates greater data transparency in municipal bond markets with FDTA

Last week the US Securities and Exchange Commission’s (SEC) Chair Gary Gensler spoke at the Municipal Securities Disclosure Conference in Washington D.C., emphasising the importance of transparency and disclosure in the US $4 trillion municipal bond market.

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SEC strategy to balance benefits and risks of FDTA implementation

The recently passed Financial Disclosure Transparency Act (FDTA) requires the US Securities and Exchange Commission (SEC) and other regulators to adopt data standards for  — inter alia — municipal data collection and reporting.  Although the act passed in December 2022, the details of implementation are still a work in progress.

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UK inquiry into local government reporting

The UK’s Levelling Up, Housing and Communities Committee (LUHCC) is launching an inquiry into financial reporting and audit in local authorities following calls for more understandable local authority financial statements.

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States seek involvement in FDTA design

The Public Finance Network, representing US state and local governments, government entities, and issuers of municipal securities, has requested that its members be involved and provide input in the implementation of the Financial Data Transparency Act (FDTA).

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