ISLG partnered with the Volcker Alliance to participate in its Truth and Integrity in Government Finance Project, which analyzed the budgeting practices of all 50 states to determine whether or not best practices are being leveraged. The project is laying the groundwork for governors, legislators, civic organizations, and citizens concerned about fiscal stewardship to effect meaningful improvements in the quality and transparency of state budgets in a time of fiscal stress for many governments.

As part of this work, ISLG investigated the budgeting practices of 10 states: Indiana, Maine, Massachusetts, Michigan, Minnesota, Montana, New Jersey, New Hampshire, Rhode Island, and Wisconsin. To inform this, ISLG managed students at the City University of New York’s John Jay College of Criminal Justice as they collected data from each state over three fiscal years (FY2015 to FY2017) on a range of areas from revenue and expenditure projections to borrowing behavior.

This multi-year study culminated in a final report from the Volcker Alliance, Truth and Integrity in State Budgeting: What Is the Reality?, released in November 2017. As state and local expenditures are equivalent to more than one-fifth of the United States GDP, this report arrives at an important time. In examining and grading the budgeting and transparency practices of all 50 states, the new report also highlights states with the most effective procedures and those that fall short, while outlining best practices in each assessment category.

For more information, please contact Shaun Edwards at