The SEC's job is about protecting ALL investors!

Sheila Weinberg | December 6, 2024

New SEC Chair Paul Atkins should address one of the largest and longest-running frauds in financial securities to occur right under the Commission’s nose, fueled by an organization they fund. He should not shy away from reviewing the politically driven statements and deceptive accounting practices used to prepare state and local government’s comprehensive annual financial reports.  

Supporting the Next Generation of Financial Transparency Leaders!

October 4, 2024

The University of Denver Truth in Accounting Project is mentoring two teams participating in the Association of Government Accountant's 2024 CCR competition. These students are using Truth in Accounting’s comprehensive resources—along with Data Z—to help create reports on the State of Maine, ensuring that the state’s financial picture is not only accurate but also accessible to the general public.

Financial State of the States 2024

October 3, 2024

Our fifteenth annual Financial State of the States (FSOS) report provides a comprehensive analysis of the fiscal health of all 50 states.

Pro forma statements for state and local government?

Judi Willard | September 26, 2024

 

Why aren't state and local governments doing this? A pro forma statement is a financial document that projects future financial performance based on certain assumptions or hypothetical scenarios. 

 

 

Our Governments Make Their Own Accounting Rules – and Mislead Us

September 26, 2024

 

The accounting rules our governments make for themselves result in financial reports that mislead the public. Citizens are not receiving the accountability they deserve; they do not have the financial reports needed to responsibly exercise their right to vote.

 

The Standard Setters for State and Local Government Accounting

Judi Willard | September 12, 2024

 

State and local governments have different accounting standards than corporations. Truth in Accounting does not understand or support this position. So, who sets these standards?

Bad Definitions Distort Social Security: The Truth Behind the Social Security Trust Fund

September 3, 2024

The so-called Social Security "Trust Fund" is neither funded nor can it be trusted—at least according to David Walker, former Comptroller General of the United States. In 1987, the Social Security Trust Fund started with a balance of $46.8 billion. Today, there is no money left in the Trust Fund. In this video, we break down how this is possible and where the money has gone. 

Financial State of City of Missoula and Missoula County

July 31, 2024

Today, the City of Missoula and Missoula County, Montana, known for their natural beauty and cultural vibrancy, are confronting significant financial hurdles.

Government Accounting versus Corporate Accounting

Judi Willard | July 29, 2024

Truth in Accounting continuously asks why corporations and governments have different accounting standards. Our reports indicate that many governments face financial difficulties, which we attribute directly to their accounting standards. Here’s what ChatGPT has to say about the issue. Decide for yourself if each argument holds merit. 

We Need More Accountants

Judi Willard | July 26, 2024

There is a noticeable shortage of accountants in the United States. 

The shortage is even affecting our work. Six states still need to file their 2023 annual comprehensive financial reports. We analyze those reports for our yearly Financial State of the State report. We have heard more than once that one of the reasons for the delay is a need for accountants. 

The U.S. Bureau of Labor Statistics (BLS) projects a 6% growth rate in employment for accountants and auditors from 2021 to 2031, which is faster than the average for all occupations. This growth reflects the increasing demand for accounting professionals. (Source: U.S. Bureau of Labor Statistics)

Digital Data Standards Support Greater Transparency and Opportunity in the Municipal Bond Markets

Chrisitine Kuglin | July 19, 2024

Christine Kuglin, director of the Truth in Accounting Project at the University of Denver, served as lead researcher on this paper presented at the 13th annual Brookings Institute Conference on Municipal Reporting. 

Our Mission is to Help: A Rebuttal

June 28, 2024

We've all felt some mistrust towards the government. We're trying to rebuild that trust alongside other nonprofits, educators, policy-makers, public servants, and journalists. We're sad to see that the Longview News-Journal didn't see that mission when covering our special report on the city of Longview, TX.

Unlocking Generosity: Transform Your IRA into Vital Donations

June 5, 2024

Discover a powerful way to support the Truth in Accounting mission while maximizing your tax benefits. Did you know that a qualified charitable distribution from your IRA’s annual required minimum distribution can be structured to be tax-free? This means that the transferred amount is not taxable as long as it’s paid directly from the IRA to the charitable organization.

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