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This paper compares four statewide publicly funded voucher programs using an indexing methodology that compiles research-based indicators of transparency. We define transparency in public governance as the availability of information related to publicly funded programs and policies. Given the central role that information plays in democratic governance and education markets, we contend that transparency in voucher programs is essential not only to provide parents with information on choices but also to enable the publishing of evaluative information on these programs. Findings show that state-specific public policy requirements in several categories, especially audit requirements, influence states’ overall transparency scores; these findings in turn have implications for future policymaking and policy adjustments in both financial and academic information availability in education governance.