Tennessee Comptroller Justin Wilson said Monday that the state and local governments are doing a better job of reporting financial information in a timely manner.

Last year was "the first time in memory, certainly in the 21st century," that the financial statements of all 95 counties were filed by a March 31 deadline, Wilson said.

This year, all 95 were completed again on a timely basis.

"To make good decisions, you need good information. Information is not good if it is not current," Wilson said. "Making that information available to the public is an important step to bring transparency to government operations."

The state also has been releasing the comprehensive annual financial report in a more timely manner. Wilson said under best practices, the state's CAFR should be released before Dec. 31.

Last year, the CAFR was released on schedule. In 2010, it was released nearly three months late, and in 2009 it was issued more than 13 months after the end of the fiscal year.

Wilson's assessment on finances was included in his quarterly fiscal affairs report.

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