Treasury Updates “Louisiana Spending Watch” Online Budget Tracker

State Government Spending Nearly $7,000 per Louisiana Resident This Year
 

BATON ROUGE, LA – The State Treasury has updated its online “Louisiana Spending Watch” budget tracker to show taxpayers exactly where their money is going and how much state government spends each second, according to State Treasurer John Kennedy. The online feature is accessible from the homepage of the Treasury’s website located at www.latreasury.com.

“The state’s new budget is huge,” said Treasurer Kennedy. “We’ve put all of this information online, because Louisiana residents have the right to know where their tax dollars are going and what their money is being spent on.”

“Louisiana Spending Watch” tracks state government spending including “Your Share” of the expenses each second until the new fiscal year ends on June 30, 2008. “Louisiana Spending Watch” also breaks down state expenditures and revenues by various departments and categories. Web users can mouse over individual categories for further details.

The state had a $26.7 billion budget last fiscal year, and according to State Treasury calculations, each Louisiana resident’s share of expenditures was $5,906. The Governor’s official budget this year is $29.8 billion, and each Louisiana resident’s share of the expenses has increased to roughly $7,000.

“Some may argue the reason the budget is so large is because of the state’s record surpluses,” said Treasurer Kennedy. “We all know state government has an insatiable appetite, and the more money you throw at it the more it will consume. Instead of making fiscally responsible decisions, policy-makers chose to feed the beast. These surpluses won’t be around forever, and when they run out, taxpayers will be left footing the bill.”

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