From a Treas. Office presser:
- Ohio Treasurer Richard Cordray, acting with the support of fellow
Board of Deposit members Ohio Attorney General Marc Dann and Ohio
Auditor Mary Taylor, today exercised the State's right to terminate a
2005 contract for a Financial Transaction Device/Cash Management
Information System. Cordray's office has worked together with Key
Bank to determine whether these information system functions, which
Cordray's predecessor had decided to contract out, could in fact be
performed by Cordray's office to minimize costs and save taxpayer
money. Key and Cordray have now agreed that any further work under
the contract is not necessary.
The termination of this contract will save taxpayers up to
$600,000 per year. The system created under the contract, through a
subcontract to Govolution, Inc., was designed to allow state agencies
to review all incoming electronic financial transactions on one single
list. The system is still in development and to this point is not yet
ready for use. Cordray has advised his fellow members of the Board of
Deposit that with recent changes in IT staffing, this task can be
performed internally within the Treasurer's Office at no additional
charge.
And:
- Cordray's fiscal diligence concerning this particular contract
also led to the discovery that approximately $170,000 in earnings
credit was not applied to the State of Ohio's banking fees in 2006.
Both the Treasurer's Office and Key Bank are working together to
continue to review records for prior years to compile a total of the
amounts.
Nice when a guy pays for his own salary (and then some) two months into the job. Wonder if Buckeye Institute will give him some sort of prize.
2 comments:
Exactly! Now THAT'S the spirit I was getting at!
And you know what! BI says that every Friday it's going to award a "Fiscal Pistol" moniker to someone who saves instead of wastes. No surprise that this week they gave kudos to a Republican, Matt Dolan who is at least in the Statehouse and they called AG Marc Dann their "porker" of the week. That's a shame - since Dann isn't exactly in the Statehouse. But I guess they mean more than just legislation? Or they don't know what they mean? I don't know what they mean exactly either.
But anyway - yeah - we should nominate the Treasurer for that award. I just sent in a waste tip - seriously. I told them that they needed to call out the House and Senate leadership for authorizing $250K for outside counsel so that they could sue Strickland over the veto. Since they just called Dann a porker for his spending on outside counsel, and Dann isn't even in the statehouse, well, I think this waste of Husted's falls squarely into what Eye says it wants to reveal.
I guess we'll have to wait and see.
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