By Mark Glennon, includes “The city’s financial report also appears to have been distorted by the ridiculously obfuscated ‘deferral accounts’ that have become common in government accounting in the past few years. I can’t claim to have figured them out and I am not alone, so I checked in with Sheila Weinberg and Bill Bergman at Truth in Accounting, which specializes in dissecting government financials. Here’s what they said …”
Read the full article on: Look below the surface on Chicago’s new financial statements