Richard Ciccarone

Assessing the Credit Quality of America’s Cities – Part Four: FY 2014 Financial Condition

The most basic sign that a government is living within its means is that it balances its books at the end of the year. Traditionally, most city officials, experts, and observers of state and local government focus primarily on the general fund, usually a government's...

Assessing the Credit Quality of America’s Cities – Part Three: Long-Term Liabilities beyond Pensions

By Richard A. Ciccarone City Financial Challenges Beyond Pensions When Assessing the Credit Quality of America's Cities, pensions aren't the only big long term liability facing America's cities.     Add to the list bonded indebtedness, other post-employment benefits...

Assessing the Credit Quality of America’s Cities – Part Two: The Achilles Heel to the Fiscal Condition of Cities – Public Pensions

In the second part of our series on city credit quality, the spotlight shifts to the Achilles heel for many cities: public pensions. by Richard A. Ciccarone     Governmental credit quality is a byproduct of both the underlying economy and the cumulative...

Does Municipal Bond Credit Quality Impact Annual Audit Times?

Increased attention on local government fiscal stress and Chapter 9 bankruptcy filings has heightened concerns over municipal bond credit quality in wider circles than ever before.  But while the Securities and Exchange Commission (SEC) requires certain issuers of...

Leading by Example: Syracuse University Is Fastest Municipal Borrower to Complete Financial Audits

Syracuse University is known for many things: its Orangemen, its hilly campus, and its famous alumni, including Joe Biden, Dick Clark, and William Safire. But perhaps one of its lesser known accolades is that it is a leader in timely financial reporting among...

Most Municipal Audits Still Slow, Despite Push for Timely Transparency

In the corporate bond market, the Securities and Exchange Commission (SEC) requires that annual audit reports be submitted within 60 to 90 days of the close of the fiscal year.  While the Municipal Securities Rulemaking Board (MSRB) has said that it would like to have...

Study Examines Municipal Audit Turnaround Time

How long does it take for municipal entities to produce annual audit reports?

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