I would like to push my local government to provide the Comprehensive Annual Financial Report (CAFR) as an open data source. I was wondering if we could go one step further by providing it in a particular open standard.
There does not seem to be a separate data standard for CAFR, but you may want to consider XBRL (eXtensible Business Reporting Language).
Two standards you may wish to consider are XBRL and Frictionless Data.
I have been working on a municipal XBRL taxonomy with others. You can see the current status here: https://github.com/govwiki/us_municipal_cafr_taxonomy
For more on the application of Frictionless Data to fiscal reporting see: https://frictionlessdata.io/specs/fiscal-data-package/