Truth in Accounting

Latest Episodes:

The Financial State of the Union: A Conversation with Honorable David M. Walker May 02, 2024

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Set against the backdrop of Truth in Accounting's 2024 Financial State of the Union report, this educational conversation aims to examine the fiscal condition of our Federal government with our distinguished guest, David M. Walker, former Comptroller General of the United States and CEO of the U.S. Government Accountability Office (GAO) for almost ten years.

Mr. Walker is a nationally and internationally recognized fiscal responsibility, government transformation/accountability, human capital, and retirement security expert. He has 40 years of executive-level experience in the public, private, and non-profit sectors, including heading three federal agencies, two non-profits, and a global service line for Arthur Andersen LLP.

Beyond the Reports with Truth in Accounting Apr 02, 2024

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In this episode, we talk with Christine Kuglin, Director of the Truth in Accounting project at the University of Denver, about the important and impactful work she is doing besides the three flagship reports produced by the organization. This conversation will illuminate TIA's impact inside the scope of government accounting and why our presence needs to persist in this space to promote a more transparent and accountable government.

Federal Bailout for Cities: Helping or Hurting? Dec 11, 2023

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In this episode, Truth in Accounting discusses the federal bailout for cities with Liz Farmer, a fiscal policy expert and journalist. Moderated by Sheila Weinberg, CEO and Founder of TIA. _______________________________ Subscribe to Truth in Accounting here: https://bit.ly/2uygGER The official Truth in Accounting YouTube channel is your primary destination for informative and entertaining videos on government finances. For more about Truth in Accounting's work, visit: https://www.truthinaccounting.org Follow Truth in Accounting here: Facebook: https://facebook.com/truthinaccounting Twitter: https://twitter.com/truthinacct Instagram: https://instagram.com/truthinacct LinkedIn: https://www.linkedin.com/company/truth-in-accounting ------------ Liz Farmer is a fiscal policy expert and journalist, writing for a national audience about the many ways state and local governments spend our taxpayer money. Her areas of expertise include budgets, fiscal distress, tax policy and pensions. She is a regular contributor to Forbes and Route Fifty, and has also been published in the Wall Street Journal, Bloomberg, Chicago Tribune, and other top publications. She is also deeply interested in remote work and is a research fellow at the Rockefeller Institute of Government’s Future of Work Research Center. In addition to writing, Liz’s insight and expertise is a valuable asset in her consulting work with Former GOVERNING publisher and Kansas City Mayor Mark Funkhouser at his firm Funkhouser & Associates. Sheila Weinberg is the founder and CEO of Truth in Accounting. Since 2002 Ms. Weinberg has led Truth in Accounting's research initiatives. Because of her expertise in governmental budgeting and accounting, Ms. Weinberg has testified before the Federal Accounting Standards Advisory Board (FASAB), the Government Accounting Standards Board, and numerous state legislative hearings on matters of proper government accounting. Her commentary on the federal budget, Social Security, Medicare and other national issues has appeared repeatedly in numerous publications, including USA Today, the Washington Post and the Wall Street Journal. She has been a guest on local and national television and radio shows, and is often engaged to speak on federal and state budget and accounting issues.

Can We Have Accountability Without Transparency? Dec 11, 2023

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In this episode, Truth in Accounting discusses transparency and accountability in government finances with Adam Andrzejewski, CEO and founder of Open the Books, and Sheila Weinberg, CEO and Founder of TIA. Moderated by former Director of Research, Bill Bergman. _______________________________ Subscribe to Truth in Accounting here: https://bit.ly/2uygGER The official Truth in Accounting YouTube channel is your primary destination for informative and entertaining videos on government finances. For more about Truth in Accounting's work, visit: https://www.truthinaccounting.org Follow Truth in Accounting here: Facebook: https://facebook.com/truthinaccounting Twitter: https://twitter.com/truthinacct Instagram: https://instagram.com/truthinacct LinkedIn: https://www.linkedin.com/company/truth-in-accounting ------------ Adam Andrzejewski is the CEO/Founder of OpenTheBooks.com. Mission: “Every Dime, Online, In Real Time.” Last year we filed 40,000 FOIA requests and captured $6 trillion in government spending (2020). Harvard Law and the Columbia School of Journalism hosted my presentations on big data and forensic auditing. Work featured at The BBC, Good Morning America; ABC World News Tonight; USA Today; The Wall Street Journal; and The New York Times. My presentation to the Hillsdale College National Leadership seminar posted on YouTube has nearly 3 million views. Our 186 investigations published at Forbes have nearly 15 million views. Sheila Weinberg is the founder and CEO of Truth in Accounting. Since 2002 Ms. Weinberg has led Truth in Accounting's research initiatives. Because of her expertise in governmental budgeting and accounting, Ms. Weinberg has testified before the Federal Accounting Standards Advisory Board (FASAB), the Government Accounting Standards Board, and numerous state legislative hearings on matters of proper government accounting. Her commentary on the federal budget, Social Security, Medicare and other national issues has appeared repeatedly in numerous publications, including USA Today, the Washington Post and the Wall Street Journal. She has been a guest on local and national television and radio shows, and is often engaged to speak on federal and state budget and accounting issues. Bill Bergman served as Truth in Accounting's Director of Research. He led question formation, idea development, and application of research initiatives. Bill teaches finance courses at Loyola University Chicago. He hasovern 30 years of financial market experience, including thirteen years as an economist and policy analyst at the Federal Reserve Bank of Chicago. Bill earned an M.B.A. and an M.A. in public policy from the University of Chicago in 1990.

Congress' Limitless Credit Card - Social Security and the Debt Limit Dec 11, 2023

Show notes

Watch a recording of Truth in Accounting's virtual event discussing Congress' debt limit and social security. With Chuck Chokel, TIA Board Member and former Co-CEO of Progressive Corp., and Sheila Weinberg, CEO and Founder of TIA, we also discuss the newly released Financial State of The Union 2021. Moderated by our Director of Research, Bill Bergman. _______________________________ Subscribe to Truth in Accounting here: https://bit.ly/2uygGER The official Truth in Accounting YouTube channel is your primary destination for informative and entertaining videos on government finances. For more about Truth in Accounting's work, visit: https://www.truthinaccounting.org Follow Truth in Accounting here: Facebook: https://facebook.com/truthinaccounting Twitter: https://twitter.com/truthinacct Instagram: https://instagram.com/truthinacct LinkedIn: https://www.linkedin.com/company/truth-in-accounting ------------ Chuck Chokel, former Co-CEO, Progressive Corp. For over 30 years Chuck Chokel has worked in the insurance industry. Mr. Chokel served as a senior partner at the White Mountain Insurance Group, taking on roles as Chief Claims Officer and Co-CEO at One Beacon, and Chief Financial Officer for White Mountains Reinsurance Group. Prior to that, Mr. Chokel served as Chief Financial Officer and member of the Board of Directors at Conseco Financial. Mr. Chokel spent much of his career at Progressive Corp., rounding out his tenure there as Co-CEO, Chief Investment and Capital Officer while serving on the board of directors. Additionally, Mr. Chokel has served on the board of directors of Esurance and Plymouth Rock Holding Co. Mr. Chokel received a B.A. from Williams College, and an M.B.A. from the University of Chicago. He has completed over 250 triathlons including thirty-six half ironman distance events and eleven full ironman distance events. He is a two time Hawaii Ironman finisher. Sheila Weinberg is the founder and CEO of Truth in Accounting. Since 2002 Ms. Weinberg has led Truth in Accounting's research initiatives. Because of her expertise in governmental budgeting and accounting, Ms. Weinberg has testified before the Federal Accounting Standards Advisory Board (FASAB), the Government Accounting Standards Board, and numerous state legislative hearings on matters of proper government accounting. Her commentary on the federal budget, Social Security, Medicare and other national issues has appeared repeatedly in numerous publications, including USA Today, the Washington Post and the Wall Street Journal. She has been a guest on local and national television and radio shows, and is often engaged to speak on federal and state budget and accounting issues. Bill Bergman served as Truth in Accounting's Director of Research. He led question formation, idea development, and application of research initiatives. Bill teaches finance courses at Loyola University Chicago. He has over 30 years of financial market experience, including thirteen years as an economist and policy analyst at the Federal Reserve Bank of Chicago. Bill earned an M.B.A. and an M.A. in public policy from the University of Chicago in 1990.

Transparency in the Windy City? Dec 11, 2023

Show notes

Truth in Accounting hosts special guest John Kass, a Chicago columnist, and The Chicago Way podcast host, to discuss Chicago's financial condition in conjunction with the newly-released Financial State of Chicago 2020. _______________________________ Subscribe to Truth in Accounting here: https://bit.ly/2uygGER The official Truth in Accounting YouTube channel is your primary destination for informative and entertaining videos on government finances. For more about Truth in Accounting's work, visit: https://www.truthinaccounting.org Follow Truth in Accounting here: Facebook: https://facebook.com/truthinaccounting Twitter: https://twitter.com/truthinacct Instagram: https://instagram.com/truthinacct LinkedIn: https://www.linkedin.com/company/truth-in-accounting ------------ John Kass is a Chicago columnist and the host of The Chicago Way podcast. In 2004, Kass was awarded the Society of Professional Journalists' Sigma Delta Chi national award for general column writing, the Scripps Howard Foundation's National Journalism Award for commentary, the Press Club of Atlantic City's National Headliner Award for local interest column writing on a variety of subjects, and the Chicago Headline Club's Lisagor Award for best daily newspaper columnist. In 1992, Kass won the Chicago Tribune's Beck Award for writing. Sheila Weinberg is the founder and CEO of Truth in Accounting. Since 2002 Ms. Weinberg has led Truth in Accounting's research initiatives. Because of her expertise in governmental budgeting and accounting, Ms. Weinberg has testified before the Federal Accounting Standards Advisory Board (FASAB), the Government Accounting Standards Board, and numerous state legislative hearings on matters of proper government accounting. Her commentary on the federal budget, Social Security, Medicare and other national issues has appeared repeatedly in numerous publications, including USA Today, the Washington Post and the Wall Street Journal. She has been a guest on local and national television and radio shows, and is often engaged to speak on federal and state budget and accounting issues. Bill Bergman served as Truth in Accounting's Director of Research. He led question formation, idea development, and application of research initiatives. Bill teaches finance courses at Loyola University Chicago. He has over 30 years of financial market experience, including thirteen years as an economist and policy analyst at the Federal Reserve Bank of Chicago. Bill earned an M.B.A. and an M.A. in public policy from the University of Chicago in 1990.

Biden's Infrastructure Plan and America's Largest Cities Dec 11, 2023

Show notes

Truth in Accounting hosts special guest Steve Malanga, senior editor at City Journal. In this episode, we discuss the financial troubles of America's largest cities and the effects of Biden's infrastructure plan. _______________________________ Subscribe to Truth in Accounting here: https://bit.ly/2uygGER The official Truth in Accounting YouTube channel is your primary destination for informative and entertaining videos on government finances. For more about Truth in Accounting's work, visit: https://www.truthinaccounting.org Follow Truth in Accounting here: Facebook: https://facebook.com/truthinaccounting Twitter: https://twitter.com/truthinacct Instagram: https://instagram.com/truthinacct LinkedIn: https://www.linkedin.com/company/truth-in-accounting ------------ Steven Malanga is the George M. Yeager Fellow at the Manhattan Institute and City Journal’s senior editor. He writes about the intersection of urban economies, business communities, and public policy. Malanga is the author of The New New Left: How American Politics Works Today (2005); The Immigration Solution: A Better Plan than Today’s (2007), coauthored with Heather Mac Donald and Victor Davis Hanson; and Shakedown: The Continuing Conspiracy Against the American Taxpayer (2010). In 2013, former Florida governor Jeb Bush called Malanga “the best thinker on state and local fiscal matters” in a tweet; in a 2014 Manhattan Institute speech, he said that Malanga’s warnings on states’ coming debt and pension crises had influenced fiscal reforms undertaken in Florida. Sheila Weinberg is the founder and CEO of Truth in Accounting. Since 2002 Ms. Weinberg has led Truth in Accounting's research initiatives. Because of her expertise in governmental budgeting and accounting, Ms. Weinberg has testified before the Federal Accounting Standards Advisory Board (FASAB), the Government Accounting Standards Board, and numerous state legislative hearings on matters of proper government accounting. Her commentary on the federal budget, Social Security, Medicare and other national issues has appeared repeatedly in numerous publications, including USA Today, the Washington Post and the Wall Street Journal. She has been a guest on local and national television and radio shows, and is often engaged to speak on federal and state budget and accounting issues. Bill Bergman served as Truth in Accounting's Director of Research. He led question formation, idea developmen,t and application of research initiatives. Bill teaches finance courses at Loyola University Chicago. He hasovern 30 years of financial market experience, including thirteen years as an economist and policy analyst at the Federal Reserve Bank of Chicago. Bill earned an M.B.A. and an M.A. in public policy from the University of Chicago in 1990.

City Finances: A Game of Hide-n-Seek Dec 11, 2023

Show notes

Truth in Accounting discusses city finances with Patrick Tuohey, co-founder and policy director of the Better Cities Project. Moderated by Sheila Weinberg, CEO and Founder of Truth in Accounting. _______________________________ Subscribe to Truth in Accounting here: https://bit.ly/2uygGER The official Truth in Accounting YouTube channel is your primary destination for informative and entertaining videos on government finances. For more about Truth in Accounting's work, visit: https://www.truthinaccounting.org Follow Truth in Accounting here: Facebook: https://facebook.com/truthinaccounting Twitter: https://twitter.com/truthinacct Instagram: https://instagram.com/truthinacct LinkedIn: https://www.linkedin.com/company/truth-in-accounting ------------ Patrick Tuohey is co-founder and policy director of the Better Cities Project. He works with taxpayers, media, and policymakers to foster an understanding of the consequences — sometimes unintended — of policies regarding economic development, taxation, education, and transportation. He previously served as the senior fellow of municipal policy at the Show-Me Institute. Patrick’s essays have been published widely in print and online, including the Kansas City Urban League’s 2015 and 2019 “State of Black Kansas City.” His work has spurred parents and activists to oppose economic development incentive projects where they are not needed and was a contributing factor in the KCPT documentary, “Our Divided City” about crime, urban blight, and public policy in Kansas City. Sheila Weinberg is the founder and CEO of Truth in Accounting. Since 2002 Ms. Weinberg has led Truth in Accounting's research initiatives. Because of her expertise in governmental budgeting and accounting, Ms. Weinberg has testified before the Federal Accounting Standards Advisory Board (FASAB), the Government Accounting Standards Board, and numerous state legislative hearings on matters of proper government accounting. Her commentary on the federal budget, Social Security, Medicare, and other national issues has appeared repeatedly in numerous publications, including USA Today, the Washington Post, and The Wall Street Journal. She has been a guest on local and national television and radio shows and is often engaged to speak on federal and state budget and accounting issues.

What You Need to Know About the Defense Department's Finances Dec 11, 2023

Show notes

Truth in Accounting talks about the Defense Department's finances with Mandy Smithberger from the Project On Government Oversight (POGO) and former TIA director of research Bill Bergman; we also discuss the newly released Defense Department Audit Report Card 2021. Moderated by Courtney Bublé. _________________ In December 2020, the Defense Department (DoD) issued its latest annual Agency Financial Report. The financial statements in this report were a part of the third consecutive full-scope, department-wide audit. The COVID pandemic posed some special challenges and issues for the latest audit. The process took longer than in the previous year, but when all was said and done, the DoD received another disclaimer (failing) audit opinion on its financial statements. With this report, Truth in Accounting ranks DoD component entities based on their fiscal year (FY) 2020 audit performance. We issue this ranking to identify relative strengths and weaknesses in financial reporting, to track progress over time, and to identify agency leaders who serve as good examples for the department as a whole Read the full report at: https://www.truthinaccounting.org/news/detail/defense-department-audit-report-card-2021 _________________ Subscribe to Truth in Accounting here: https://bit.ly/2uygGER The official Truth in Accounting YouTube channel is your primary destination for informative and entertaining videos on government finances. For more about Truth in Accounting's work, visit: https://www.truthinaccounting.org Follow Truth in Accounting here: Facebook: https://facebook.com/truthinaccounting Twitter: https://twitter.com/truthinacct Instagram: https://instagram.com/truthinacct LinkedIn: https://www.linkedin.com/company/truth-in-accounting ------------ Mandy Smithberger is the director of the Center for Defense Information in December 2014. Previously she was a national security policy adviser to U.S. Rep. Jackie Speier (D-Calif.) There, she worked on passing key provisions of the Military Whistleblower Protection Enhancement Act into law, which expands protections by increasing the level of Inspector General review for complaints, requiring timely action on findings of reprisal, and increasing the time whistleblowers have to report reprisals. Previously an investigator with POGO, she was part of a team that received the Society of Professional Journalists' Sunshine Award for contributions in the area of open government Bill Bergman serves as Truth in Accounting's Director of Research. He leads question formation, idea development and application of research initiatives. Bill delivers our daily "Morning Call" newsletter every morning to a growing and appreciative audience of influential subscribers. He leads and oversees the development of Truth in Accounting’s databases. Bill also leads our federal projects. Bill has written more than 400 articles at "Bill's Blog." Bill teaches finance courses at Loyola University Chicago. He has more than 30 years of financial market experience, including thirteen years as an economist and policy analyst at the Federal Reserve Bank of Chicago. Bill earned an M.B.A. and an M.A. in public policy from the University of Chicago in 1990. Courtney Buble is a staff correspondent who covers federal management. Before joining Government Executive, she worked for NBC News. Courtney graduated from The George Washington University in 2018.

Bad Accounting Leads to Bad Decisions Dec 11, 2023

Show notes

Truth in Accounting discusses bad accounting practices in state and local governments across the United States and how to change them with Kevin Bronner from the University at Albany. _________________ Currently, the 50 states are required by law to balance their budgets. However, because governments use cash-based accounting, budgets that appear balanced are anything but balanced. With cash-based accounting, financial reports show expenses only when money is paid, not when debt or future expenses are incurred. This presents a flawed and inaccurate picture of governments’ financial condition. Full accrual calculations and techniques (FACT) accounting provides a more holistic view of government finances. Now is the time to advocate for common-sense reforms to government accounting and financial reporting requirements. Truth in Accounting is mobilizing experts, advocacy organizations, watchdog groups, journalists and everyday citizens to demand that state and local governments institute FACT-based accounting. Click this link below to learn more about how you can help make change. https://www.truthinaccounting.org/resources/page/fact-based-accounting _________________ Subscribe to Truth in Accounting here: https://bit.ly/2uygGER The official Truth in Accounting YouTube channel is your primary destination for informative and entertaining videos on government finances. For more about Truth in Accounting's work, visit: https://www.truthinaccounting.org Follow Truth in Accounting here: Facebook: https://facebook.com/truthinaccounting Twitter: https://twitter.com/truthinacct Instagram: https://instagram.com/truthinacct LinkedIn: https://www.linkedin.com/company/truth-in-accounting ------------ Kevin M. Bronner has a long and distinguished career in public service. A professor at the University of Albany since 1997, Dr. Bronner has taught courses in microeconomics, governmental accounting, regulatory administration, public finance, public budgeting, and strategic planning. Dr. Bronner served as a member of the University of Albany Council from 2002 to 2009, and is a member of Omicron Delta Kappa, the University at Albany’s chapter of the National Leadership Honor Society. He was also inducted into Phi Alpha Kappa, the National Honor Society for Public Affairs and Administration. He was awarded the University at Albany’s Distinguished Service Award by the Rockefeller College of Public Affairs and Policy in 2009. Dr. Bronner and his family reside in Loudonville, NY. Sheila Weinberg is the founder and CEO of Truth in Accounting. Since 2002 Ms. Weinberg has led Truth in Accounting's research initiatives. Because of her expertise in governmental budgeting and accounting, Ms. Weinberg has testified before the Federal Accounting Standards Advisory Board (FASAB), the Government Accounting Standards Board, and numerous state legislative hearings on matters of proper government accounting. Her commentary on the federal budget, Social Security, Medicare and other national issues has appeared repeatedly in numerous publications, including USA Today, the Washington Post and the Wall Street Journal. She has been a guest on local and national television and radio shows, and is often engaged to speak on federal and state budget and accounting issues. Bill Bergman serves as Truth in Accounting's Director of Research. He led question formation, idea development, and application of research initiatives. Bill teaches finance courses at Loyola University Chicago. He has over 30 years of financial market experience, including thirteen years as an economist and policy analyst at the Federal Reserve Bank of Chicago. Bill earned an M.B.A. and an M.A. in public policy from the University of Chicago in 1990.

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