Author: Kramer, Joseph and Baldwin, Jeffry

Publication Year: 1976

Media Type: Report

Summary:

As a result of our activities, we have identified certain problems in the area of financial reporting which constitute obstacles to the orderly collection of useful economic data from arts organizations. Currently, no system exists for regularly surveying organizations across all art forms.

Abstract:

As a result of our activities, we have identified certain problems in the area of financial reporting which constitute obstacles to the orderly collection of useful economic data from arts organizations. Currently, no system exists for regularly surveying organizations across all art forms. Rather, within each art form, there may (or may not) be a service organization which collects economic data on a consistent year-to-year basis from a sample of its constituents. To the extent such data is collected, it will have only marginal utility for inter-art form comparisons. It also may not be consistent with data collected from identical arts organizations by a different surveying institution at approximately the same period in time.

The issues summarized below are representative of the kinds of basic financial reporting issues which affected the various data sources that were examined. These findings highlight the typical problems which must be anticipated and planned for as part of the design and implementation of any new data collection process in the arts.

Part 1. Data reliability: 

1. Definition of terms. 
2. Inclusion of parent organization data. 
3. Inclusion of imputed cash values for contributed goods and
    services. 
4. Human error.

Part 2. Additional factors affecting reliability: 

1. Financial capability and incentive of the respondents. 
2. Fiscal year-end variances.

Part 3. Data accessibility, storage and retrieval. (p. 50).

Arts & Intersections:

Categories: Financial Management