Showing posts with label transparency. Show all posts
Showing posts with label transparency. Show all posts

Monday, September 2, 2013

Oregon flunks transparency in education spending, study says


FAIL: Oregon

FAIL: Oregon’s Department of Education gets a failing grade for spending transparency



By Shelby Sebens | Northwest Watchdog


A new study by the Cato Institute claims Oregon’s Department of Education is failing when it comes to transparency of spending.


The Cato Institute, a libertarian-leaning think tank based out of Washington D.C., gave Oregon an F-  or a score of 47 out of 100 for the information the department provides on per pupil spending, total spending, salaries and public accessibility.


The study says that while Oregon’s data is easily accessible on its website, it lacks instructions and a clear way for the public to maneuver and understand the data. The state also fails to provide district level average salary and benefit data as well as statewide spending data, the study finds.


Oregon’s neighbor Washignton faired much better in the study, scoring a B. Some of the main differences between the states are that Washington provides average salary data and the state got a 15 out of 15 for public accessibility. Oregon got a 10.5 out of 15.


The study charges that because of incomplete data, the public is not fully aware of the true cost of education.


When the state education departments provide incomplete or misleading data, they deprive taxpayers of the ability to make informed decisions about public school funding. At a time when state and local budgets are severely strained, it is crucial that spending decisions reflect sound and informed judgment.


Half of all states report a “per pupil expenditures” figure that leaves out major cost items such as capital expenditures, thereby significantly understating what is actually spent. Alaska does not even report per pupil expenditure figures at all.



Contact Shelby Sebens at Shelby@NorthwestWatchdog.org


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Oregon flunks transparency in education spending, study says

Sunday, June 16, 2013

Video: We Demand Transparency, Obama!!


I swear I see Obama’s nose growing throughout this video…


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Western Journalism



Video: We Demand Transparency, Obama!!

Sunday, June 2, 2013

Fed"s Pianalto: More transparency would aid financial stability



WASHINGTON | Fri May 31, 2013 9:44am EDT



WASHINGTON (Reuters) – Greater transparency has helped the Federal Reserve make U.S. monetary policy more effective and could enhance financial stability by deepening public trust in the quality of banks, a senior Fed official said on Friday.


“Credibility is crucial for financial firms and for supervisors, just as it is for the monetary authority,” Cleveland Federal Reserve President Sandra Pianalto told a conference on financial stability hosted by the Fed.


“Credibility accumulates when there is public confidence and market confidence that rules are clear and are being followed – by the supervisors as well as by the financial firms,” she said.


The Fed has been forced to hold interest rates near zero since late 2008 and launch an unprecedented campaign of asset purchases to shield the economy from a severe recession, following a financial crisis caused by reckless speculation by banks on the subprime U.S. housing market.


Congress imposed new financial rules which were introduced under Dodd-Frank legislation in the aftermath of that shock, and supervisors now conduct stress tests to ensure big banks have sufficient capital to withstand sharp market falls.


But Pianalto suggested widening the scope of these probes in an effort to provide greater insight into a bank’s resilience.


“Stress tests could be broadened to explicitly consider the effects of a bank’s stress on its most important counterparties. This would be especially useful if many banks each rely on the same small set of counterparties for certain kinds of transactions,” she said.


Fed officials have repeatedly voiced concern over the liquidity risk that could stem from a panic in wholesale funding markets and is working with the industry and other supervisors to develop minimum leverage ratios for large financial firms.


“Another way to improve information transparency is to provide the public with more information about the quality of bank assets. For example, regulators could require disclosure of material information on a firm’s portfolio risk structure,” she said.


(Reporting by Alister Bull; Editing by Chizu Nomiyama and James Dalgleish)





Reuters: Economic News



Fed"s Pianalto: More transparency would aid financial stability