Local Fiscal Health Project

News

Building tech to support small towns: U-M team develops digital tool for SEC compliance

Sep 26, 2024

When Congress passed the Financial Data and Transparency Act (FDTA) in 2022, it required all municipalities in the U.S. to modernize and digitize their financial reports. This is a heavy lift for small towns and school districts, most of which still...

Photo of a stone building with a large "City Hall" sign

State & Hill

Quantum leap

May 3, 2023

When City of Flint CFO Rob Widigan looks at his required annual financial reporting to the state of Michigan, he sighs. His department needs to compile the accounts, which are saved as a PDF document, and separately copy certain numbers into at...

Photo of a large metal arch with a sign reading "Flint: Vehicle city" at a gateway to Flint, Michigan

Publication

New law on data transparency will improve governance - Leiser

Dec 20, 2022

Increasing transparency in how local government works got a boost when the U.S. Congress passed the Financial Data Transparency Act (FDTA) on December 15, 2022. The act requires the Securities and Exchange Commission to adopt data standards related...

In the Media

Leiser on building a better local government financial reporting system

Aug 23, 2022 The Bond Buyer

Through a Michigan pilot program, Stephanie Leiser and the Center for Local, State, and Urban Policy are building a taxonomy for machine-readable local government financial documents. "Transparency into local government fiscal health is needed...

News

CLOSUP in consortium launching review of Flint government financial data standards

Jun 15, 2022

Governments, standard setters, regulators and analysts encouraged to provide input A pilot project involving the University of Michigan and others is exploring whether a new fiscal reporting mechanism for governmental entities can help create...

Photo of a road and crosswalk in Flint near the University Pavillion

News

A 20-year review of Flint finances shows consequences of lack of investment

Jun 8, 2022

The turmoil surrounding the City of Flint, MI – most infamously the Flint Water Crisis – has become a cautionary tale for other Rust Belt cities struggling to balance their budgets, provide services, and attract new business. A 20-year review of the...

In the Media

How we should think about the government's budget - Leiser

Mar 14, 2022 WXYZ

Many Americans use the analogy of a pie to think about the government budget. But, Sarah Leiser, lecturer of public policy and leader of the Michigan Local Government Fiscal Health Project at CLOSUP, says there's another way to think about...

News

University of Michigan and the City of Flint partner on new fiscal reporting pilot program for transparency, better governance

Dec 1, 2021

The water crisis in Flint and the bankruptcy in Detroit were separate events that had a common theme -- they had been caused in part by fiscal challenges decades in the making. Avoiding similar tragedies in the future could be tied to greater...

CLOSUP Lecture Series

PubPol 715 guest speaker Janani Ramachandran Yates on public budgeting and finance planning

Feb 8, 2023, 2:30-3:50 pm EST

Weill Hall, Betty Ford Classroom (1110)

The Ford School’s Michigan Public Budgeting and Finance Planning class invites Ford students to join them for a conversation with guest speaker Janani Ramachandran Yates, Deputy Budget Director of the City of Detroit (and Ford School alum).

Government financial reporting - Data standards and the financial data transparency act

Jan 24, 2023, 3:00-4:00 pm EST

Join XBRL US for a session to explore government data standards, find out how governments can create their own machine-readable financial statements, and discover what impact this legislation could have on government entities. Most importantly, discover how machine-readable data standards can benefit state and local government entities by reducing costs and increasing access to time-sensitive information for policy making.

Stephanie Leiser: Helping local goverments in Michigan become healthier and more resilient

Sep 7, 2021 0:03:32

Stephanie Leiser, lecturer in the Gerald R. Ford School of Public Policy, discusses the Local Fiscal Health Project, an initiative of the Center for Local, State, and Urban Policy to help local governments navigate fiscal challenges.