Your City’s Accounting Is Unnecessarily Obscure. It’s Time To Pull Back the Veil. (opens in new tab)

Who do we prepare local budgets for, the citizens of a community or distant Wall Street bond investors? Is it more important that an elected council member know what is going on with a city’s finances, or should our local accounting practices be more responsive to the needs of analysts at ratings agencies? We all expect cities to put together budgets and maintain financial reports so citizens can understand what is going on and community leaders can make good decisions. That is what we expect...