Financial reporting for local governments centers around the Annual Comprehensive Financial Report (ACFR). Today’s ACFR is a faithful, PDF reproduction of the voluminous paper reports that have been produced for decades. We believe technology offers a chance to rethink this paradigm and deliver greater value to the audiences of local government financial reporting: the public, elected officials, bond market participants, grantors, and state/federal governments. There is also room to improve the working lives of the finance officers who produce this information.
This article presents a vision for next generation financial reporting that makes a radical leap forward in serving the interests of these stakeholders.
Click here to register for our upcoming webinar, Rethinking Financial Reporting: Streamlining the ACFR, February 18.
- Publication date: October 2024