The more we know how—and how well—tax dollars are being spent, the easier it will be for policymakers to understand the state budget and create a more affordable and effective state government.

With that in mind, lawmakers this year passed a bill that will create a searchable online database of all state expenditures. Under the new law, (Public Act 10-155; HB-5163) each state agency will be required to provide the legislature’s Office of Fiscal Analysis (OFA) with their financial details, including information about state contracts and grants.

OFA will post this information on its website for public review.

“Connecticut’s taxpayers are the ones who pay the cost of state government – and they have every right to see how their money is spent,” said the Governor in signing the law that both chambers of the legislature unanimously approved.

Most of the information that will go into the database is available now through the separate state agencies—but on paper. Finding anything can be a huge, time-consuming job. Putting the financial information online and in an easily accessible format will enable many more people to read and use it.

Making the very best use of taxpayers’ dollars starts with knowing where those dollars are now being spent. This new database could be a big step toward better state budgeting.

For more information, contact Bonnie Stewart at 860.244.1925 or bonnie.stewart@cbia.com.