In January 2019, Ez-XBRL Solutions, in collaboration with XBRL US, Marc Joffe, Senior Policy Analyst at Reason Foundation, and Yossef Newman, Professor of Business and Accounting at Touro College, jointly published a report that analyzes the fiscal health of Virginia municipalities and recommends that CAFRs be produced using financial data standards such as Inline XBRL.
The report outlined that it is costly and difficult to develop and maintain local government scoring systems like the one presented in this study or the more complex system used by the Virginia Auditor. The report concluded with a policy recommendations that these systems could be more easily maintained and enhanced by replacing PDF-based local government financial reporting with a more advanced reporting standard such as Inline eXtensible Business Reporting Language (iXBRL).
Read the full report: Virginia Fiscal Health Report 2018.
