Rethinking Financial Reporting

GFOA knows government finance professionals face substantial opportunity costs with their time. Time spent on general purpose external financial reports is time not spent on other forms of decision support and public engagement. With this in mind, GFOA is Rethinking Financial Reporting. This research initiative will examine whether lengthy, technical financial reports published many months in arrears are the most effective way to build trust with constituents and if producing these reports is a good use of the finance officer’s time, particularly if they are not providing accountability to the public. Come to this session to learn more about the research and discuss the benefits of traditional financial reporting.

Who Will Benefit: Budget Manager, CFO/Finance Director, Controller

• Understand how current reporting practices are meant to inform decisions and policy making
• Explore how lengthy technical reports can be changed to improve government accountability and effective communication with citizens
• Learn how other finance officers are using new approaches to financial reporting in their jurisdictions to help better inform decision makers and their constituents