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.

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

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. 

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.

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?

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. 

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

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. 

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)

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. 

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.

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.

Meet Zahra Mammadova

Originally from Azerbaijan, Zahra is currently pursuing a master's degree in Accounting, Technology, and Analytics at the University of Denver, and works hard to help Truth in Accounting complete our research and reports.