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.
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.
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.
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.
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