Machine-readable disclosure has 'revolutionized' Flint's financial reports, CFO says

January 25, 2023 The Bond Buyer

For Flint, Michigan, new machine-readable disclosure standards which have sparked controversy across the muni market represent a "quantum leap" for the city's finances, its CFO said. "If you're asking me, it's about time that we modernize and digitize municipal financial reporting, especially if it brings about transparency and better governance in the end," Flint CFO Robert Widigan said Tuesday during a webinar hosted by the University of Michigan's Center for Local State and Urban Policy and XBRL US, which supports the implementation of digital business reporting standards.