Putting the fun in funds with HB 241
HB 241, Budgetary Procedures Act Amendments, sponsored by Sen. Curt Bramble, seeks to make it easier for legislators, fiscal analysts and any other entities who receive state money to track appropriations and budget submissions. Entities would be required to submit current fiscal statuses and prospective financial goals into COBI (Compendium of Budget Information). They would also be required to report, twice a year, on what they accomplished with the funds received and if they have met their goals.
By requiring more detailed reports, individual entities can be held more accountable for the ways they’re using state-allotted funds. Additionally, better tracking provides legislators a way to better determine if money is being used effectively and appropriately.
The bill passed both the House and Senate, and was sent to the governor for his consideration.
You can read or check out audio/video of the bill here.