ABSTRACT
Popular financial reports (PFRs) are intended to increase transparency by providing financial information to a non-technical, citizen audience. We examine the extent to which PFRs are meeting the goal of transparency by developing a 23-criteria fiscal transparency index for the citizen user (FTI-CU) and applying it to a sample of PFRs (popular annual financial reports and citizen-centric reports) issued by local governments in the U.S. These criteria are organized into five areas: comprehension, access, financials, appearance, and community-focused. The analysis finds that, while there are areas for improvement, the PFRs rated the highest in the access and appearance criteria.
Notes
1. Other types of PFRs issued by governments are: Budget-in-Brief, Report of Efforts and Accomplishments, Summarized Financial Statements, and Financial Trend reports (Yusuf et al., Citation2013).