One of the most interesting developments of recent years for reporting nerds has been the adoption of XBRL by the US Federal Energy Regulatory Commission (FERC) for disclosures by energy utilities. In Q3 it completed its transition to XBRL, activating its new Forms portal and ceasing to accept submissions in the legacy Visual FoxPro system.
A new pilot programme in Flint, Michigan will explore how the use of XBRL can improve transparency in fiscal reporting and lead to better governance, potentially averting crises in municipal finance.
It’s been a busy week for our colleagues in the US. XBRL US has submitted a letter to the Municipal Securities Rulemaking Board (MSRB) planning exercise on Strategic Goals and Priorities, urging it to consider how data standards would enhance the current Electronic Data Municipal Markets Access (EMMA) data collection and dissemination process. XBRL US expressed […]
The US Municipal Securities Rulemaking Board (MSRB) is responsible for regulating the US municipal securities market and aims to support muni market transparency, including through its Electronic Municipal Market Access (EMMA) system. EMMA is a key source of muni bond disclosures.
How does Turkey measure up in a machine-readable world? At a national level, Turkey doesn’t release collected data to the public to enable analysis – however, a public sector effort at a different level is trying to fill in the gaps.
Could municipal bond markets be due a shakeup? In an article on Forbes this week Barnet Sherman makes the case for a system-wide upgrade of muni markets, citing XBRL as the tool to take municipal disclosures into the 21st century.
With the idea that knowledge is transformative sitting at the heart of most educational institutions, it is perhaps unsurprising that a college is currently at the vanguard of structured municipal reporting in the US.
Rachel Carpenter, CEO of Intrinio, recently highlighted the many benefits proper XBRL filing implementation would offer US municipalities.
Should the federal funds being used to boost US state and local budgets after a steep Covid-19-induced decline be dependent on better transparency?
In Montreal, a financial planner can set a trigger to distribute a financial report the moment their budget is exceeded. In New Hampshire, accountants can easily look at the number, type and relationship between a taxpayer’s bills, all in a single portal. And in LA, a self-service data analytics tool allows users to create the […]