TRENTON – The New Jersey Local Finance Board is proposing a new rule it hopes will allow residents to better understand their municipality’s finances.
The rule change would require local governments to provide budget data to the Division of Local Government Services on an electronic reporting platform. The division would then convert the data in a format accessible to the public, officials said.
The Local Finance Board says the changes are meant “to enhance the transparency of municipal finances by making detailed municipal budget information more accessible to ordinary citizens and local elected officials,” reads news of the announcement.
The budget rule proposal can be found on the division’s website.
The public comment period on the proposed rule change ends Feb. 15.