Annual financial reports for the most part seek to provide for accountability and transparency of fiscal results but are increasing in complexity.  It is time to think about what is working well and maybe not so well.

• Does annual financial reporting help guide the policy you are setting?
• Are there certain sections within your annual report that are more beneficial than others?
• Do the costs of generating your annual financial report outweigh the benefits?
• Can you recommend changes that will make your annual financial report a better decision tool?

These are some of the types of issues touched on in the survey that was distributed a couple of weeks ago.  This survey effort is supported by ICMA and is being conducted by faculty and staff at Northern Illinois University and the Center for Governmental Studies. This is a unique opportunity to offer an opinion on the costs and benefits associated with financial reporting, including some of the newer requirements, such as post-employment benefits and forthcoming pension liabilities. The findings will be made available by ICMA in a white paper that will be published in the fall of 2013. Responses will be reported aggregately to maintain the confidentiality of your feedback.

The quality of the report is dependent on your input.  Please complete the on-line survey, which should take approximately 15 minutes.

Individuals with questions or comments about this survey can contact Shannon Sohl at ssohl@niu.edu or Craig Maher at csmaher@niu.edu.