For Immediate Release: 8/22/2014
Contact: Stephanie Freedman (916) 319-2072
Assemblyman Travis Allen’s Legislation to Provide Transparency on Government Spending is Signed into Law
AB 1583 would make public all outside spending accounts in the government
SACRAMENTO –Assemblyman Travis Allen’s (R-Huntington Beach) Assembly Bill 1583, which will ensure that the government can no longer hide how it spends tax dollars from the public, was signed into law by the Governor.
“Transparency and accountability on the use of taxpayer’s hard-earned money should be of the utmost importance,” said Assemblyman Travis Allen. “Having a background as a financial advisor, I am committed to bringing fiscal responsibility and more focused oversight to Sacramento’s unchecked spending.”
At the end of the 2011-12 fiscal year, bank accounts outside of the Central Treasury System represented a fairly large block of state funding at 14 percent of all state money ($9.2 billion). In October of 2013, the state auditor released a report exposing weaknesses in the control agencies’ tracking of these outside bank accounts. The report also found that an agency may still bypass state rules, as well as its own policies, which was proven when a government agency had $3.7 million deposited into an unauthorized outside account.
Specifically, AB 1583 requires the Controller to prepare and submit to the Legislature and the Department of Finance an annual report on all of these outside bank accounts and the money within them.
“The Legislature should implement sound fiscal practices to ensure that your tax dollars are allocated in accordance with the best interests of our constituents,” said Assemblyman Travis Allen. “This initiative will ensure that there is sufficient oversight of these unchecked government accounts, and will help get the taxpayers of California the most value for their money.”
You can read the AP News story here.