To paraphrase Warren Buffet…To understand the status of any going concern – from a nationwide confectionery business to a small public utility – you must understand the imperfect language of accounting. And, while Mr. Buffet may be more concerned with stock picking than  the nuances of local public policy making, he would likely tell anyone that, before you make a big decision, make sure you know how to read and interpret financial statements, or as we call them in local government, the Annual Comprehensive Financial Report (ACFR).

In recent years, Artificial Intelligence (AI) emerged as a potentially transformative force in our personal and professional lives, perhaps forever changing how we live, work, and interact with technology. Yet, as with any powerful tool, AI comes with its own set of advantages and disadvantages. When properly deployed, it offers enhanced efficiency, data-driven insights, improved decision-making, and more personalized end-user experiences. However, it also presents several challenges, including potential job displacement, questions about bias and fairness, privacy concerns, cybersecurity risks, trust issues, and even basic inaccuracies.

It may sound anticlimactic, but there are regularly important moments in financial markets where everyone expects nothing to happen.  Such was the case for the announcement made by Federal Reserve Chair Jerome Powell at the conclusion of last Wednesday’s policy meeting of the Federal Open Market Committee (FOMC).  As expected, the FOMC left the target range for the federal funds rate unchanged at 5.25% – 5.50%. Before the beginning of the calendar year, market sentiment generally gravitated towards as many as six, quarter-point cuts to the federal funds rate.