Missouri State Auditor Nicole Galloway today announced that the state's daily spending and revenue is now available online through the State Auditor's website. The website shows the state's daily financial activity and account balance for the general revenue fund.
"Many people have the convenience of checking their own bank account online or on their phones, and now they can check up on the state's finances in much the same way," Auditor Galloway said. "These are citizens' tax dollars and Missourians have a right to know how much the state is spending and how much we have left at the end of each day."
The online reporting tool is designed to increase transparency in government spending and financial management. For example, the site shows that yesterday the state spent $6 million and received $25 million into the general revenue fund. The state ended the day yesterday with a general revenue fund balance of $360 million.
Galloway says plans are underway to expand the amount of information available about daily transactions, including descriptions of the spending and income items for each day.
"Having this information online in an easily accessible format will provide citizens and policymakers with a fuller picture of Missouri's financial position," Auditor Galloway said. "The state is charged with making important decisions about what to pay for and when. These are public dollars and the public has a right to be a part of that discussion."
This effort is part of Auditor Galloway's Budget Integrity Series, which was announced earlier this month and is designed to examine the contributing factors to Missouri's current budget crisis. The initiative aims to identify the root causes of the current budget shortfall, estimated at more than $500 million for the next fiscal year.
As part of the series, the State Auditor's Office has begun work on an audit of a state law that requires the Missouri Department of Revenue to process personal income tax returns and send out refunds within 45 days of filing. If refunds haven't been paid within 45 days, the state must pay them with interest.
The online account summary will update each morning and is available at auditor.mo.gov/StateDailySpending.