State to track how its municipal aid is being spent

Lawmakers and the public are soon going to be able to see how the $2.6 billion in education aid they provide each year to districts is being spent.

The State Bond Commission on Monday approved $450,000 to help pay for the state to develop a system to monitor and track how state aid is being spent. The total project — dubbed a “Common Chart of Accounts” — is expected to cost $4 million.

The system will track both municipal and local school board’s budgets.