Published: August 27, 2020
The Financial Intelligence Tool’s (FIT) role-based functionality has expanded, giving local governments even more leverage over their data. Upon logging into FIT, a local government user has access to these new features:
- Live Data. You can now view data soon after it has been submitted through the online filing system, rather than wait until a routine snapshot is captured in FIT. By selecting the “Live,” snapshot from the snapshot drop down menu, you will be able to explore updated trends, financial health indicators and more, using your most recently submitted data.
- Debt and Liabilities. Users now have access to debt and liability data submitted through the annual report (Schedule 09). As with other data in FIT, debt and liability balances can be trended over several years.
- Saved Peer Sets. If you’ve used FIT’s “show comparison to similar governments” feature to find peers, you should be happy to know that you can now save a specific group of peers, useful for running and repeating comparisons. You can save and name multiple peer sets, such as peers that collect similar amounts of taxes, ones that you find are similar in population, or ones that spend similar amounts on salaries. The possibilities are virtually endless!
- GAAP Financial Statement View (GAAP only). This beta-view can be used by GAAP governments to compare their Schedule 01 accounts to those presented in the financial statements, providing meaningful data-quality analysis. We encourage all GAAP governments to reach out to us at email@example.com so we can show you the power of this new functionality!
All of these features were designed around one thing: your local government.
If you’re new to FIT or would like information on how to use FIT, check out our 15-Minute FIT tutorial. Keep your eye out for more tips, tutorials, and feature announcements about the next version of FIT.