TIA’s response received some RTs!

Illinois has only issued an interim financial report, as it has yet to file its 2023 Annual Comprehensive Financial Report, which was due December 31, 2023.

Two Interesting Facts from the Interim Report:

"The State’s significant liability balances include the net pension liability of $145.6 billion and the other post-employment benefits liability of $20.4 billion.
“It is important to note that the financial information contained in this Interim Report is subject to change depending on the final audited financial reports from the individual agencies.”

If Government Can't Count, We Can't Count on the Government. Donate Today for a Better Tommorrow!

Register before midnight tonight for early pricing

https://xbrl.us/govfin24

(Reduced government rate is $97, 25% off regular Government attendee rate).

What role could artificial intelligence play in the implementation of the Financial Data Transparency Act (FDTA) for municipal bond issuers?

Much has been said about the potential tasks where AI may be able to assist, from writing papers, to facial recognition, to extracting data out of paper-based documents. Attend this session to learn about three pilots conducted to test out the premise of using AI to extract information from government Annual Comprehensive Financial Reports (ACFR), and from disclosures submitted to the MSRB EMMA system. The panel will also address how structured, machine-readable data is the ideal data source for AI platforms that need reliable, consistent data to generate useful outcomes.

Speakers include:

Seth Goldstein, Associate Professor, Carnegie Mellon University
David Stringfellow, Deputy State Auditor, Chief Economist & Data Scientist, Office of the State Auditor, State of Utah
Miklos Vasarhelyi, KPMG Distinguished Professor of Accounting Information Systems and Director of Rutgers Accounting Research Center and Continuous Auditing & Reporting Lab, Rutgers Business School

You'll also hear speakers from Columbus, OH; DAC Bond; DPC Data; Eide Bailly LLP; FASB; GASB; GFOA; NASACT; Hawkins Delafield & Wood LLP; Nutshell Associates; PwC; SEC Office of Municipal Securities and Office of Structured Disclosure; the State of Utah; Virginia Housing Authority, and more.

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State Government Spending as Percentage of GDP

State Government Spending as Percent of GDP" shows the percentage of a state's Gross Domestic Product (GDP) that comprises a state government's total spending. This figure is useful for comparison of state spending levels, although each state faces unique economic circumstances. For 2022 the states with the lowest percentages were Georgia, Texas, Florida, Nebraska, and Colorado. Florida, Nebraska, and Colorado also had Taxpayer Surpluses in TIA's Financial State of the States. The national average for all 50 states was 12.4 percent.

The state government spending component of this number is taken from the U.S. Census Bureau's Annual Study of State Government Finances and is found independently on Data-Z under the heading Total Expenditures. The GDP used for this calculation is the Nominal GDP.

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