Treasurer Torsella Unveils Improved Transparency Portal

HARRISBURG, Pa., June 5, 2017 /PRNewswire-USNewswire/ -- Pennsylvania Treasurer Joe Torsella today unveiled Treasury's Transparency Portal providing a more in-depth look at how more than $100 billion in Commonwealth expenditures are being spent.

"I am committed that Pennsylvania Treasury will be a leader in transparency," said Torsella. "Pennsylvanians need to do their part in ensuring good governance and in holding us accountable, and it's my job to make sure they have the tools to do just that. Today's announcement is more than an unveiling, it's another phase of my overall transparency initiative with additional updates to come."   

Shortly after taking office Treasurer Torsella launched Phase 1, which gave taxpayers a first-in-the-nation ability to track the general fund balance in real time. 

The newly unveiled Transparency Portal expands taxpayer access by now offering the ability to compare the past three years of expenditures at the fund, department, and appropriation levels. Users can track the $2.5 billion line of credit Treasury extended to the General fund for the 2016-2017 fiscal year, along with when the advancement was paid back through two installments in March and April 2017. Users can also monitor each of the Commonwealth Fund share balances within the Treasury investment pools.

"The Commonwealth is facing serious budget shortfalls," said Torsella. "Pennsylvanians need to hold their government accountable, and the Transparency Portal will serve as a vital tool in keeping them informed about how and where their hard-earned money is being spent."

Media contact: Heidi Havens, Treasury, 717-787-2991 or [email protected]

The Pennsylvania Treasury is an independent department of state government led by the state treasurer, who is elected every four years. The department's primary duty is to safeguard and manage the state's public funds. It invests state money to generate income on behalf of the citizens of Pennsylvania, reviews and processes payments for state government agencies, and serves as custodian of more than $100 billion in state funds. Key Treasury programs include Unclaimed Property, PA 529 College Savings Program and the Board of Finance and Revenue. To learn more visit patreasury.gov.

SOURCE Pennsylvania Treasury Department