In a recent blog post, the Center for Priority Based Budgeting highlights new resources for local elected officials to help them better understand the implications of fiscal decisions made while managing their jurisdiction’s budgets. From the post:
Governing has recently focused on this issue head on. Their new Finance 101 series “goes back to the basics to help public officials navigate the sometimes confusing world of GASB, OPEB, DBs and P3s.” In a recent Finance 101 article, Financial Illiteracy: One of Government’s Biggest and Least-Discussed Problems, the author Liz Farmer states, “failure to understand financial outcomes is more dangerous to states and localities than ever, and there’s a big gap between what public leaders know about finance and what they need to know.”
The blog post also includes resources on creating financial literacy and transparency.