Legislative Oversight Committee Approves LOFT Inaugural Workplan
Members of the Legislative Oversight Committee today approved the workplan for the newly created Legislative Office of Fiscal Transparency. The plan maps out a schedule for in-depth, data-driven evaluation of specific programs and processes of state agencies to ensure Oklahoma taxpayer funds are used efficiently and effectively.
“LOFT has the potential to examine state agencies both in fiscal and performance reviews for the sole purpose to make sure taxpayer dollars are being efficiently and effectively spent to serve the citizens of Oklahoma,” said Sen. Roger Thompson, who serves as co-chair of the Oversight Committee. “I am looking forward to the data produced by LOFT as we craft future budgets for Oklahoma.”
Co-Chair Rep. Kevin Wallace said, “Approving this workplan was a historic first step toward state budgets based on better data, a deeper understanding of where taxpayer dollars go, and what the taxpayers are getting in return for their investment. I appreciate the hard work the LOFT staff has done to date and look forward to the results they will bring legislators in the future.”
While review of all programs and expenditures are within the scope of the agency, the office’s first work plan focuses on gathering and analyzing operations and expenditures of some of the largest agencies and programs to determine how well resources are being used to fulfil the core missions of the entities. Approval from the Legislative Oversight Committee now allows LOFT staff to begin the data gathering and analysis process for rapid response evaluations and other priorities as identified by the Committee. A copy of the LOFT workplan is available at http://www.okloft.gov/Workplan.pdf
LOFT has statutory authority to examine and evaluate the finances and operations of all departments, agencies and institutions of Oklahoma and all its political subdivisions. LOFT’s mission is to assist the Oklahoma Legislature in making informed, data-driven decisions that will serve the citizens of Oklahoma by ensuring accountability in state government, efficient use of resources, and effective programs and services.
Created in 2019, LOFT is overseen by a 14-member Legislative Oversight Committee, appointed by the Speaker of the House and the Senate Pro Tempore.
FOR IMMEDIATE RELEASE
Contact: Regina Birchum
Legislative Office of Fiscal Transparency
Capitol: (405) 724-7760