The Oklahoma Senate sent Senate Bill 1 to the House on Tuesday. It establishes the Legislative Office of Fiscal Transparency (LOFT) and is championed by Senate President Pro Tempore Greg Treat. LOFT would act as the office collecting performance data from state agencies for lawmakers.
“More transparency in agency spending and program performance will increase and enhance accountability of how tax dollars are used. LOFT will increase transparency by providing lawmakers and the public with independent data on agency budgets and program performance,” said Treat.
LOFT would get $1.7 million in funding to start its work in Fiscal Year 2020. Treat said the legislation gives lawmakers better access to data for budgeting and oversight.
“For too long, lawmakers have been dependent on agencies or those who benefit from state spending for spending and program performance data. That’s not the best system of accountability. The people of Oklahoma deserve and expect that their tax dollars will be used in the best and most efficient manner. LOFT will be a watchdog for the public and policy makers by providing better information to track and evaluate how tax dollars are spent,” Treat contends.
The House is set to consider SB 1.
