MISSOURI (KFVS) - A new Missouri law that goes into effect in August aims to increase transparency in governments across the state.
Senate Bill 112 assesses a penalty on local government agencies that fail to disclose required financial information.
It comes after Auditor Nicole Galloway released reports that showed nearly half of the state's local governments were not releasing information on how taxpayer dollars are being managed.
"Public bodies that use taxpayer dollars must be accountable to the citizens they serve," Auditor Galloway said. "My reports have identified dismal compliance rates by local governments who fail to provide even basic information about their management of your tax dollars."
The law takes effect on August 28. Any local government that fails to turn in required financial information to the State Auditor's office faces a $500 per day penalty. Any money collected through the process will be distributed among schools in the area.