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Items tagged with "Municipal"

The moment arrives to modernise state-level reporting

An article on Route Fifty this week looks at the new mandate for state and local governments in the US to prepare standardised, searchable financial statements.

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FDTA implementation sparks debate

How will the Financial Data Transparency Act (FDTA) reshape municipal financial reporting in the US? The FDTA will require electronic reporting and machine-readable tagging (likely in XBRL) of state and local government financial data, boosting the ability of users — especially lenders — to undertake analysis and comparison.

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Cities focus on data as machine-readable reporting on the horizon

 A recent article on Cities Today examines how local governments in the US can maximise federal funding by using (machine-readable) data. With the US government investing significantly in municipal infrastructure, local governments are leveraging data to understand their needs, and to make smarter decisions about how to spend funding.

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Financial Data Transparency Act passed by US Senate

We are pleased to report that this week the US Senate passed the provisions of the Financial Data Transparency Act (FDTA), as part of the Fiscal Year 2023 National Defense Authorization Act (NDAA), marking a significant milestone in transparency and data utility for the US.

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India explores possibilities for digital municipal disclosures

In a talk at last week’s XBRL Asia Round Table in Mumbai, Srikanth Viswanathan, the CEO of the Janaagraha Centre for Citizenship and Democracy, outlined the vital role that data about municipalities plays in the next steps for key infrastructure development in India.

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Examining opposition to XBRL in local government reporting

As we reported last week, the Florida Division of Auditing and Accounting has released an XBRL taxonomy for use by local governments to report their financial information digitally.

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Florida releases XRBL taxonomy for 2022

In the US state of Florida, the Division of Accounting & Auditing within the Department of Financial Services has partnered with the Office of Information Technology to build a new Florida Open Financial Statement System.

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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.

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Now launched for public review: XBRL taxonomy for US local-government reporting

Routine digital reporting by local governments in the US just got a huge step closer. XBRL US and the University of Michigan’s Center for Local, State and Urban Policy (CLOSUP) have issued a ‘commercial-grade’ XBRL taxonomy for local-government reporting.

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New ways of using XBRL explored in the US

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.

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