#United States #Denver #XBRL US #GovFin 2025

GovFin 2025: Shaping a Digital Future in Municipal Reporting

The University of Denver, in collaboration with XBRL US, will host the GovFin 2025 conference on July 30-31 in Denver, Colorado. This pivotal event will delve into the significant effects of digital reporting on municipal bond issuance and explore the Financial Data Transparency Act (FDTA). As municipalities face growing demands for efficient financial reporting, the discussions at GovFin 2025 will aim to chart a course for implementing effective digital strategies.

Exploring Key Themes

The conference will spotlight the implications of digitization in governmental financial data reporting, focusing particularly on how it affects municipal bonds. With the FDTA's nine agencies working through their rulemaking processes, attendees will gain insights into the current status of regulations and what to expect in the future.

Christine Kuglin, director of the University of Denver's Truth in Accounting program, remarked that the aim of GovFin 2025 is to foster collaboration across government levels for modernizing municipal reporting. The agenda includes sessions designed to empower stakeholders, especially in light of the implementation of new digital reporting standards.

Keynote Speakers and Sessions

The event features an impressive lineup of speakers, including:

• - Debra Austin, JD, PhD: A Professor at the University of Denver Sturm College of Law who will provide legal insights into the transition towards digital compliance.
• - David M. Walker: Former United States Comptroller General specializing in governmental accountability.
• - Dave Young: The Colorado State Treasurer will discuss his experiences with fiscal management and reporting in the digital age.

The Monday pre-conference session will cater to those interested in understanding the fundamentals of machine-readable financial data, an essential skill as digitization in reporting increases. Through case studies, attendees will learn how states like Ohio and Washington utilize local government data, preparing them for the transition that digitization demands.

The event also will feature comprehensive reviews from the Governmental Accounting Standards Board (GASB) regarding their evolving Digital GAAP Taxonomy, which guides voluntary digital reporting. Further discussions will tackle accounting standards for local governments and how timely updates can support better governmental decision-making.

The Benefits of Digital Reporting

Implementing digital reporting stands to revolutionize how financial data is collected and processed. Campbell Pryde, CEO of XBRL US, explained that such innovations would greatly enhance the efficiency of data collection for regulators while offering investors and policymakers more timely and actionable data. With federal and state governments facing numerous financial challenges, successfully adopting the FDTA could lead to improved governmental efficiency, abating some of the impediments currently observed.

As the conference approaches, those interested in participating can view the full agenda and register at XBRL.US/GovFin25. This event promises to arm public officials, investors, and analysts alike with the knowledge required to navigate the future of municipal financial reporting in an increasingly digital landscape.

About the Organizers

The University of Denver is renowned as the oldest private institution in the Rocky Mountain region, prioritizing research and collaboration among educators and students. Its commitment to innovative, inclusive educational practices fosters a unique environment for learning and discovery.

XBRL US operates as the principal nonprofit consortium for business reporting standards in the U.S., advocating for interoperability across sectors by developing standards tailored to governmental and corporate needs. The organization emphasizes its role in facilitating the adoption of digital standards, thereby enhancing the quality and accessibility of information in the financial landscape.

GovFin 2025 promises to lay the groundwork for a more digital future, marking a significant step forward in municipal financial reporting and transparency.