Meet the Interns: Amber Saxon

August 31, 2023

Hi! My name is Amber Saxon, I am the current content creator and social media marketer for Truth in Accounting. I recently graduated from Bowling Green State University in April with a degree of Bachelor of Science in Business Administration specializing in Marketing and minoring in Fashion Merchandising and Product Development.

It's Up to Us.

August 29, 2023

"Summer is coming to a close, students are filling up classrooms, state legislators are on hiatus, and the presidential election is now in full swing. 
What a 2023 so far, and it’s more than half over!

We’ve come a long way this year at Truth in Accounting; our beautiful sign is up at the University of Denver, and we are in education mode. We are planning our events for the next academic year - more to come about that. We are teaching a class and have hired new interns to help with our research efforts. This partnership continues to be a win and that's a win for you too!"


Meet the Interns: Anna Broerman

August 15, 2023

Hello, I’m Anna Broerman, the graphic design intern for Truth in Accounting. I am a third-year student at Bowling Green State University in Bowling Green, Ohio. I am studying visual communication technology, which combines photography, videography, interactive media, and print (or graphic design). 

Sometimes We Joke but it's True

August 9, 2023

Sometimes, just to stay positive, we joke about government accounting. 

We often use fun metaphors like “government finances are like being set up on a blind date, and the only thing you know is they are nice” or the famous line in The Wizard of Oz, "Don't look behind the curtain." 

But our favorite is “The government is financially catfishing us.” 

Early debt repayment could save Florida taxpayers nearly $34 million in interest

July 25, 2023 | The Center Square

"(The Center Square) — Florida taxpayers are set to save millions of dollars after Gov. Ron DeSantis announced that some of the Sunshine State's debt had been paid down early.

A total of $400 million in state debt has been paid back through the Debt Reduction Program, designed to accelerate the payment of bonds before they mature and saving Florida taxpayers almost $34 million in interest."

Pennsylvania House Bill

July 12, 2023 | Fast Democracy

"In 2016, the IFO stated that despite collecting 686 different performance measures, Pennsylvania rarely uses performance measures in making budgetary decisions. Rather than using performance measurements, when deciding how to use taxpayer money, spending is either increased incrementally or based on the political needs of the moment.

By not incorporating performance measurements into budgetary decisions, Pennsylvania has mismanaged public money and created a large structural deficit. This failure to handle taxpayer dollars is demonstrated by Pennsylvania ranking 47th in short-term solvency and 37th for our long-term solvency according to the Mercatus Center. At the same time, the commonwealth received a “D” by Truth in Accounting for the overall fiscal health of the state."

California Misses Audit Deadline for 5th Consecutive Year

June 28, 2023 | CATO Institute

"For the fifth consecutive year, the State of California is missing the March 31 deadline for filing its audited financial statements. Last Friday, the State Treasurer’s Office notified the municipal bond market that the state’s Annual Comprehensive Financial Report (ACFR) for the Fiscal Year Ending June 30, 2022 would be late. The last time the state filed its report within the required nine month reporting window was for its 2017 fiscal year."

Pentagon's Ukraine accounting error revised up to $6.2 billion

June 28, 2023 | Reuters

"June 20 (Reuters) - The Pentagon found it had overestimated the amount of funding for ammunition, missiles and other equipment it sent to Ukraine by $6.2 billion due to an accounting error, a spokesperson said on Tuesday, more than double the amount previously disclosed."

Inconsistent bank regulation spells trouble for investors

June 12, 2023 | XBRL US

"The failure of Silicon Valley Bank (SVB) was not a surprise to regulators or investors who took the time to check the bank’s financial statements and footnotes. By March of 2021, unrealized debt securities losses for the bank had already begun to climb, reaching ($1,343) million by year-end December 2021, and leaping to ($15,160) million a year later, all the while the bank’s stockholders’ equity remained flat."

On the Brink of Financial Collapse: 10 Cities In Serious Danger of Bankruptcy

June 6, 2023 | MSN

"Sobering Statistics 

The study, called Financial State of the Cities 2023, was done by Truth in Accounting. It has some difficult truths: 50 out of 75 cities could not pay their bills; the combined debt for all 75 cities is $267 billion. Moreover, elected officials didn’t include the cost of government in this figure, instead pushing it onto future taxpayers."

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