About UsFounded in 2002, Truth in Accounting believes truthful accounting is the key for citizens, legislators, and the press to understand the truth about government finances.Truth in AccountingTIA_a386103c-cb1d-11ef-8864-58c20783ea00CitizensTo be knowledgeable participants in their governments' financial decisions, citizens need accurate and complete financial information.Public EntitiesOur work has focused on encouraging public entities to produce financial reports that are comprehensive, clear, and transparent; and ...The Publicinforming the public of the importance of truthful accounting.TIA TeamSheila A. WeinbergFounder & CEO ^^ sweinberg@truthinaccounting.org ^^ Sheila A. Weinberg, CPA, is the founder and CEO of Truth in Accounting, whose mission is to compel governments to produce financial reports that are understandable, reliable, transparent and correct. Since 2002 Ms. Weinberg has led Truth in Accounting's research initiatives, which include "The Truth about Balanced Budgets: a Fifty State Study," the "Financial State of the States," and the "Financial State of the Union." 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. ^^ Ms. Weinberg earned her Bachelor of Accounting degree from the University of Denver, which she attended on an academic scholarship. She received her certified public accountant (CPA) credential in 1981. Ms. Weinberg was active in the Concord Coalition from its inception in 1992, and was honored in 1998 with their Outstanding Volunteer Award. ^^ Ms. Weinberg is a member of the Association of Government Accountants, the University of Denver's School of Accountancy Advisory Board, the Illinois CPA Society Governmental Executive Committee and the Consultative Advisory Group for the International Public Sector Accounting Standards Board. She has served as an independent legislative adviser to members of Congress on federal budgeting and accounting issues. She was also a member of the Comeback America Initiative Advisory Council, the Academy of Government Accountability Advisory Council and two FASAB Task Forces. She chaired the Union League Club of Chicago's Public Affairs Committee. Her commentary on the federal budget, Social Security, Medicare and other national issues has appeared repeatedly in numerous publications, including USA Today, Chicago Tribune and Chicago Sun-Times. 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.Karen DanfordEditor and Project Director ^^ kdanford@truthinaccounting.org ^^ Karen Danford oversees collecting, updating and documenting the key demographic, economic and government financial data from public and private sources on Data-Z. She also serves as editor for TIA publications and media outreach. ^^ Danford has a Ph.D. in German Languages and Literature from Yale University. She taught German and literature for over twenty years at various universities, during which she developed a passion for grammar and clear writing. For many years she directed small academic conferences, and then managed large conferences on law and economics at two major universities for state and federal judges. Before joining Truth in Accounting, Danford was the editor of public policy at Ballotpedia for nearly three years, building out projects and editing hundreds of articles in several policy areas.Judi WillardCommunications and Development Manager ^^ jwillard@truthinaccounting.org ^^ Judi Willard has a wide range of communications skills from a public speaking background, digital work to written communications. Her bachelors degree is in Communications with a concentration in Radio/Television. She was a disc jockey and the producer of a cable television program. She worked as a Development Director for a Catholic Missionary school, also development and communications for both the Policy Circle and Illinois Policy Institute. Fun fact: She has performed stand-up comedy with her own written material.Shawn CruceSenior Research Analyst / Consultant ^^ scruce@truthinaccounting.org ^^ Shawn Cruce, CPA, has been with Truth in Accounting since 2010. His responsibilities include data retrieval, database management, publication editing, and coordination of interns. He also oversees TIA's "Financial State of the States" project. Shawn earned both a B.B.A. and M.S. in accounting from Loyola University Chicago. He received his certified public accountant (CPA) credential in 2021.Grace ZhangResearch Analyst / Consultant ^^ gzhang@truthinaccounting.org ^^ Grace Zhang is a Research Analyst Consultant for Truth in Accounting. She assists with gathering and organizing extensive government accounting and economic data for database analysis and publication. She also contributes to TIA’s main publications, "The Financial State of the States" and “The Financial State of the Cities,” by compiling data from states’ financial reports and related retirement plans’ actuarial reports. ^^ Grace earned her Master of Science in Accountancy from Loyola University of Chicago. She is currently pursuing her Illinois CPA certification.TIA Board of DirectorsChuck ChokelFormer 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.Vince KolberRESIDCO, Founder and Principal ^^ An innovator in transportation capital and alternative investments, Mr. Kolber started RESIDCO in 1982 and has completed both aviation and rail transactions through several major cycles in excess of $1.2BN, including syndications, non-recourse debt securitizations, restructurings, hedging projects and asset repositioning and remarketing assignments. Mr. Kolber pioneered the use of privately placed derivatives in large ticket equipment leasing, establishing extensive applications for residual value insurance and puts in both aviation and rail structured financings. These approaches have propelled RESIDCO as an alternative investment management company for institutional investors over several decades. ^^ He has chaired the Equipment Leasing and Finance Association (“ELFA”), Aviation and Fair Business Practices Committees, and regularly volunteers as an ELFA lobbyist on Capitol Hill. He speaks for and writes on behalf of the transportation capital industry regularly. ^^ Mr. Kolber holds an MBA from the University of Chicago and a BS from Wharton. Mr. Kolber is active in parochial school philanthropy through Sacred Heart and the Big Shoulders Foundation. He is active in the Heritage Foundation and serves as Chairman of the Chicago Committee and is active with similar think tanks and civic projects.Thomas C. WrightRetired Vice Chair of BMO Capital Markets ^^ Thomas C. Wright retired at the end of fiscal 2008 as Vice Chair of BMO Capital Markets, the corporate and investment banking arm of Bank of Montreal, a more than $400 billion Canadian bank. Since that time, he has been actively involved with non-profit organizations, most notably as a Trustee, and former Executive Management Committee member, of the Ravinia Festival. He also provides strong support for educational institutions, including serving in an international advisory capacity for his alma mater, McMaster University in Canada, and as a mentor for business students at The Citadel in Charleston, South Carolina. ^^ A US citizen but a native of Canada, Mr. Wright holds a Master of Business Administration degree from McMaster University in Hamilton, Ontario, and a Bachelor of Science degree from Queen's University in Kingston, Ontario. He was formerly a member of the New York Stock Exchange and holds NASD licenses 7, 63, and 24 (inactive).Roger R. NelsonChairman Emeritus | Retired Deputy Chairman, Ernst & Young, Chicago, IL ^^ Roger Nelson is retired Deputy Chairman of consulting Services for Ernst & Young LLP, where he served a wide range of clients for over thirty years. At Ernst & Young, he served as a member of several committees, including the U.S. Management Committee, the Global Executive Board and the Global Council; in addition he served as Chairman of the U.S. Consulting Services Network, Chairman of the Global Consulting Services Executive Committee, and Chairman of the Global Consulting Services Council. His expertise lies in financial planning and control, information systems, performance measurement and general management projects for major multinationals. ^^ He served for three years as an Adjunct Professor of Accounting and Information Systems at Northwestern University's J.L. Kellogg Graduate School of Management. During his career with E&Y, Mr. Nelson served as Vice Chairman-Management Consulting, Vice Chairman-Midwest Region, and Southwest Regional Director of Management Consulting Services. He was Partner in Charge of the consulting practice in the Chicago area and Partner in Charge of E&Y's Continental Europe consulting practice. ^^ Mr. Nelson has served as a lecturer for the Conference Board and for the Management Centre of Europe on the topic of financial planning and foreign exchange management. He is a member of the AICPA, the Illinois CPA Society, the National Association of Corporate Directors, the President's Advisory Council of Northern Illinois University, the President's Advisory Council of Coe College, The Economic Club of Chicago, The Commercial Club of Chicago, and is Past President of the Union League Club Civic and Arts Foundation. ^^ Mr. Nelson also serves on the Board of Directors of NerveWire, Inc. He is a graduate of Northern Illinois University with a B.S. Degree in Accountancy.Dr. Sridhar (Sri) RamamoortiAcademic Advisor | Associate Professor of Accounting, University of Dayton, OH ^^ Dr. Sridhar Ramamoorti, ACA, CPA/CITP/CFF/CGMA, CIA, CFE, CFSA, CGAP, CGFM, CRMA, CRP, MAFF, is an associate professor of accounting at the University of Dayton. Previously, he was an associate professor of accounting and director of the Corporate Governance Center at the Michael J. Coles College of Business at Kennesaw State University. Dr. Ramamoorti has a unique, blended academic-practitioner background with over 35 years of experience in academia, auditing and consulting. Originally trained as a chartered accountant in India, he spent two years with Ernst & Young in the Middle East before coming to the U.S. for graduate studies. After finishing his Ph.D. in Quantitative Psychology from The Ohio State University, he served on the University of Illinois at Urbana-Champaign accountancy faculty. ^^ Subsequently, he was a principal in the Professional Standards Group of Andersen Worldwide, Sarbanes-Oxley Advisor for Ernst & Young’s National Advisory Practices, a Corporate Governance partner with Grant Thornton, and was a principal leading the governance, risk and compliance (GRC) practice of Infogix, Inc. He has published extensively and has won teaching excellence awards. In December 2016, Dr. Ramamoorti completed a three-year term on the prestigious Standing Advisory Group of the Public Company Accounting Oversight Board (PCAOB). Currently a trustee of the Financial Executives Research Foundation (FERF), he is a Board member of the Institute for Truth in Accounting, and a member of the Litigation Forensics Board of the National Association of Certified Valuators and Analysts (NACVA). Over the past two decades, Dr. Ramamoorti has been a speaker in 16 countries.Dennis H. ChookaszianBOARD ADVISOR | Director, Chicago Mercantile Exchange Holding, Inc. ^^ Dennis Chookaszian is the former chairman and CEO of CNA Insurance Companies, which was a $17 billion multi line insurer with 20,000 employees, In his 26 years at CNA, Chookaszian served in numerous other executive capacities, including CFO, president, and COO; as well as serving as chairman of the Executive Committee. ^^ Chookaszian, who is a CPA, served as chairman of the Financial Accounting Standards Advisory Council (FASAC), which advises the Financial Accounting Standards Board (FASB) on issues relating to the Board’s agenda, project priorities, and other timely and topical matters from January 2007 until December 2011. His background includes service on many AICPA and FASAB committees and task forces, and was one of the eight members of the Public Oversight Board Panel on Audit Effectiveness. He currently serves as a member of the Financial Crisis Advisory Group (FCAG), which is the International group that was formed to recommend solutions to the financial reporting issues related to the current financial crisis.David L. CottonBOARD ADVISOR | Founder & Chairman Emeritus, Cotton & Company LLP ^^ David Cotton, CPA, CFE, CGFM, is founder and Chairman Emeritus of Cotton & Company, Certified Public Accoun­tants, headquartered in Alexan­dria, Virginia. Cotton & Company was founded in 1981 and has a practice concentrating in assist­ing federal and state agencies, inspectors general, and government grantees and contractors with a variety of govern­ment program-related assurance and advisory services. ^^ Cotton served on the board of the Virginia Society of Certified Public Accountants and on the VSCPA Litigation Services, Professional Ethics, Quality Review, and Governmental Accounting and Auditing Committees. He is a member of the Association of Government Accountants and past-advisory board chairman and past-president of the AGA Northern Virginia Chapter. He is also a member of the IIA and the Association of Certified Fraud Examiners. ^^ Cotton has testified as an expert in governmental accounting, auditing, and fraud issues before the United States Court of Federal Claims, the Armed Services Board of Contract Appeals, and other administrative and judicial bodies. ^^ Cotton was the recipient of the ACFE 2018 Certified Fraud Examiner of the Year Award; AGA’s 2012 Educator Award and AGA’s 2006 Barr Award. ^^ He received a BS in me­chanical engineering and an MBA in management science and labor rela­tions from Lehigh University in Bethle­hem, Pa. He also pursued gradu­ate studies in accounting and auditing at the University of Chicago Graduate School of Business. He is a certified public accountant, certified fraud examiner and certified government financial manager.David M. WalkerBOARD ADVISOR | Founder and CEO, Comeback America Initiative, Former U.S. Comptroller General ^^ Until September 2013 Walker was the Founder and CEO of the Comeback America Initiative (CAI). In this capacity he led CAI’s efforts to promote fiscal responsibility and sustainability by engaging the public and assisting key policymakers on a non-partisan basis to help achieve solutions to America’s federal, state and local fiscal imbalances. ^^ Prior to this role, he served as the first President and CEO of the Peter G. Peterson Foundation. Previously, Walker served as the seventh Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO) for almost ten years (1998-2008). This was one of Walker’s three presidential appointments, each by different Presidents, during his 15 years of federal service. Walker also has over 20 years of private sector experience, including approximately 10 years as a Partner and Global Managing Director of Human Capital Services for Arthur Andersen LLP. ^^ Walker currently serves on various non-profit boards and advisory groups. He is also a member of the Accounting Hall of Fame, the Trilateral Commission, and the Sons of the American Revolution. Walker has won numerous leadership awards both domestically and internationally. He also has authored three books, with the latest one entitled "Comeback America: Turning the Country Around and Restoring Fiscal Responsibility" (2010), which is a National Bestseller. He is a frequent writer and media commentator, and is a subject of the critically acclaimed documentary I.O.U.S.A.Citizens, legislators, and the press understand the truth about government finances_a38611ae-cb1d-11ef-8864-58c20783ea00To educate and empower citizens with understandable, reliable, and transparent government financial information._a38612b2-cb1d-11ef-8864-58c20783ea00TruthAccountabilityComprehensivenessClarityTransparencyFinancial ReportsEncourage public entities to produce financial reports that are comprehensive, clear, and transparent_a38613e8-cb1d-11ef-8864-58c20783ea001Public Entities_a3861424-cb1d-11ef-8864-58c20783ea00Government FinancesProduce annual assessments of government finances_a3861564-cb1d-11ef-8864-58c20783ea002StatesCitiesWe offer a comprehensive analysis of government fiscal data… We analyze government accounting data from each of the 50 states and 75 most populous cities in the country and the federal government to produce annual assessments of government finances. We use our proprietary methodology to cut through politicization and accounting tricks to show the true fiscal condition of each state and city, including the health of pension plans. StatesAnalyze accounting data from each of the 50 states_a38615aa-cb1d-11ef-8864-58c20783ea002.1StatesCitiesAnalyze accounting data from the 75 most populous cities in the country_a38615e6-cb1d-11ef-8864-58c20783ea002.2CitiesFederal GovernmentAnalyze accounting data from the federal government_a3861622-cb1d-11ef-8864-58c20783ea002.3Federal GovernmentDataProvide data for others to explore_a38616ea-cb1d-11ef-8864-58c20783ea003Data-ZFormerly State Data Lab ~ This resource enables citizens, the press, legislators, think tanks and financial analysts to understand their governments’ financial condition and correlate that with data about the larger economic picture.CitizensThe PressLegislatorsThink TanksFinancial AnalystsAnd we want you to explore the fiscal data on your own, too. We also provide financial, demographic, and other data for you to examine yourself through Data-Z (formerly State Data Lab).FinancesProvide financial data_a3861730-cb1d-11ef-8864-58c20783ea003.1DemographicsProvide demographic data_a3861776-cb1d-11ef-8864-58c20783ea003.2OtherProvide other data_a38617da-cb1d-11ef-8864-58c20783ea003.32002-12-312025-01-04https://www.truthinaccounting.org/about/OwenAmburoambur@gmail.com