Which practice can enhance transparency in the capital planning process?

Prepare for the GFOA Capital Planning and Forecasting Test with comprehensive material. Utilize flashcards and multiple choice questions, each equipped with hints and explanations. Ensure your readiness for the test!

Publicly sharing project criteria and progress significantly enhances transparency in the capital planning process. When project criteria—such as selection, prioritization, and evaluation metrics—are made available to the public, stakeholders and community members gain insight into how decisions are made. This open communication builds trust and allows stakeholders to provide informed feedback. Additionally, sharing progress updates keeps the community informed about the status of projects, ensuring that they are aware of any changes or developments.

Conversely, keeping decisions within a small group or minimizing public input restricts the flow of information and limits stakeholder engagement, which can lead to perceptions of exclusion or favoritism. Focusing solely on internal reporting may result in a lack of accountability and transparency, as it does not bring the broader community into the conversation. Engaging the public in the capital planning process through clear communication of criteria and progress fosters an environment of collaboration and trust.

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