Municipal disclosure

Political dysfunction is far and away the leading economic and policy concern for muni market participants, according to a new Bond Buyer infrastructure survey.

The college's most recent annual comprehensive financial report is for the fiscal year ending June 30, 2023, and S&P is concerned by the lack of timely reporting.

Nevada's audited 2023 financials were released more than two years after the fiscal year ended. The state controller says structural changes will reduce delays.

Port Freeport's decision to go property tax-free resulted in a revenue bond rating downgrade from S&P and raised disclosure questions.

The legislature, which returns to respond to recent floods, could also take up bills to curb local property taxes, including bills aimed at bond issuance.

Questions over what to disclose in the bond document's risk section has concerned issuers for years, through issues like the pandemic to climate change, and now potential federal funding cuts.

The updated document also addresses disclosure relating to cybersecurity.

Some market participants said they were sad to see EMMA Labs go.

New guidelines require local governments to receive the state's comptroller's approval before issuing debt with variable interest rates, put options, or interest rate reset options.

The wait for finished audits dropped across municipal sectors from 2022 to 2023, a new report says, but the median time is still higher in the long run.

When Chicago barred media from its investor conference, it told journalists the policy aligned with peer municipalities' practices. The facts are less clear.

In the coming year, we'll find out if public pension disclosure and transparency have improved enough to protect municipal bond investors.

The non-profit climate advocacy organization called for better disclosure on climate risks and adaptation efforts as the prevalence of natural disasters grows.

The county will likely tap reserves, issue judgment obligation bonds and make departmental cuts to cover the $4 billion settlement.

Muni data is complicated, confusing and unstandardized, and analysts say there's a cost to that. 

The Governmental Accounting Standards Board is seeking input from the public about its preliminary views on clarifying changes to disclosure regulations related to state and local governments under severe financial stress and facing probable dissolution.

Natural disaster disclosure warrants 'a special focus,' NFMA's 2025 chair says.

While the White Lake, Michigan, township hack is the best-known and publicly disclosed cyberattack, there have been others. Some issuers and firms are reluctant to share these experiences publicly.

Belvia Gray, Public Finance Leader at Baker Tilly, talks about the firm's efforts and focus on bringing the industry together on cyber security threats, succession planning and more.

The unpredictable nature of legislating leads most to holding off on disclosure changes until a bill becomes a law.