On December 5, 2018, the Data Foundation and Workiva (NYSE:WK) released the report, Transparent State and Local Financial Reporting: The Case for an Open Data CAFR, which recommends that state and local governments publish Comprehensive Annual Financial Reports (CAFR) as open data.
Today the Data Foundation and MorganFranklin Consulting released Transforming Federal Grant Reporting: Current Challenge, Future Vision. The report reviews technical and cultural challenges facing grant management communities in the context of data quality improvements in the federal government and presents potential solutions.
The Data Foundation is excited to announce the support of Bloomberg, the Global Legal Entity Identifier Foundation (GLEIF), and REI Systems as of March 2018. Steve Meizanis, Bloomberg’s Global Head of Entity Content Management, and Stephan Wolf, CEO of the GLEIF, will be nominated to the Data Foundation’s Board of Directors on May 10, 2018.
The report outlines the need for the U.S. government to adopt a universal method of entity identification in order to verify companies, nonprofits, and other organizations using a single, common unique identifier. More than 15 government, private sector, and tech experts were interviewed for this report.
Data Foundation in the News
The recent report, dubbed Transparent State and Local Financial Reporting: The Case for an Open Data CAFR, suggests that public agencies should embrace Comprehensive Annual Financial Reports (CAFR), a method that has already been put into place in Florida.
The Data Accountability and Transparency Act of 2014 (DATA Act) aims to dramatically improve internal management transparency by creating an open data set for federal spending. However, “DATA Act 2022: Changing technology, changing culture,” a study by Deloitte and the Data Foundation, revealed some potential challenges to the Act’s implementation that could diminish its benefits.
A study by Deloitte and the Data Foundation predicts the federal government may face challenges in implementing a law to establish an open data set to improve federal spending transparency, The Wall Street Journal reported Thursday.
Open and machine-readable Comprehensive Annual Financial Reports (CAFR) – documents that a state or municipal government uses show its financial position – offer several benefits, according to a recent report by the Data Foundation and Workiva.
State and local governments could improve transparency and help lower borrowing costs for public projects by publishing their comprehensive annual financial reports as open data, according to a new report from Ames-based Workiva and the Data Foundation, an industry-focused open data research organization.