A pair of states and the feds are moving to require local governments to submit financial data in a machine-readable format. Here’s how it could help cities.
…. Florida’s governor signed a bill last year that puts the state on a path to requiring its local governments to submit their financial information to the state in eXtensible Business Reporting Language, or XBRL, by September 2022. A similar bill sits on the desk of California’s governor, and U.S. legislators are considering two bills that could push along standardization at the federal level. ….