What does transparency in the decision process entail?

Transparency in the decision process is fundamentally about openness and accountability, especially in the context of financial decision-making. Full disclosure of financial decision-making criteria ensures that all stakeholders have access to the same information regarding how decisions are made, which fosters trust and encourages informed participation. This openness allows stakeholders, including the public, to understand the rationale behind financial decisions, which can lead to better community engagement and trust in government operations.

When decision-making criteria are fully disclosed, it not only promotes good governance but also enhances the ability of stakeholders to hold decision-makers accountable. This corresponds with the goal of transparency, which is to provide clarity and enable effective oversight by all parties involved or affected by these decisions.

In contrast, restricting information to only certain stakeholders limits engagement and can lead to mistrust, while providing summaries of past decisions does not adequately inform stakeholders about current decision-making processes. Keeping financial planning confidential ultimately undermines the principles of transparency by withholding important information that could affect stakeholders' understanding and participation in the governance process.