The Truth and Integrity in Government Finance Initiative aims to improve state and local budgeting, financial reporting, and fiscal practices.
Truth and Integrity in Government Finance Initiative

Photos from the FY2020 State Fiscal Conference, from left to right: 1) Kaye Husbands Fealing, panelist. 2) William Glasgall, Volcker Alliance senior vice president and director of state and local initiatives. 3) Shirley Clarke Franklin, keynote speaker and former Atlanta mayor. 4) The conference convened state legislators, budget officials, investors, Fed officials, media, and others discuss strategies for meeting critical budgetary challenges. 5) Raphael Bostic, keynote speaker and Federal Reserve Bank of Atlanta president.
The Alliance’s longitudinal study of state budgeting practices, conducted in cooperation with public finance experts at eight US public universities, showed strong results in 2019. The impact of the initiative has been seen in national media coverage and improved legislative practices. In December 2019, both houses of the New Jersey legislature passed a measure establishing a consensus revenue estimating process adhering to the Volcker Alliance’s best practice recommendations. The passage of the New Jersey bill follows budgetary reforms and proposals in several states, including Illinois, Pennsylvania, Utah, and Vermont, that are based on principles advanced by the Alliance.
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