Volume 5 Number 10
March 7, 2008

This week marked the beginning of the 2008 Legislative Session. Over the next 60 days, elected officials representing Floridians from all walks of life will embark on the important work of the people— and there is much work to do.

Floridians are looking to lawmakers to continue services that make Florida a great place to live and visit, to use tax dollars more efficiently, and to reduce the financial risks facing Floridians. We encourage you to actively reach out to your local legislators on the issues you consider important this session.  Florida's legislators have a number of innovative ideas and need your support to pass quality legislation this legislative session..

 


Watch
 CFO SINK ON CNBC

Read her letter on municipal bonds here.
 


 

 

 

 

 

CFO SINK UNVEILS PROPOSALS TO INCREASE SAFEGUARDS OVER INVESTMENTS AT THE STATE BOARD OF ADMINISTRATION
 
On the third day of the 2008 Legislative Session, Florida Chief Financial Officer Alex Sink unveiled ten proposals to strengthen financial safeguards over investments at the State Board of Administration (SBA).  Bringing her nearly three decades of business experience to Florida government, CFO Sink’s proposals were offered to provide a framework of ideas early in the Legislative Session.
 
“Today’s investments are different than the investments of thirty years ago, and that means we’ve got to adapt and strengthen our safeguards at the State Board of Administration,” said CFO Sink.  “I’m pleased to offer a number of strong proposals today that will increase oversight over public funds and further protect our investors.  I’m also pleased that a number of Legislators are working to strengthen our state’s financial oversight of public funds this session.”
 
CFO Sink was joined today by Jeannie Garner, the Chair of the Local Government Investment Pool (LGIP) Advisory Committee, and Wayne Blanton, Executive Director of the Florida School Board Association, who applauded her proposals on behalf of the local investors and government retirees they represent. CONTINUED

 

 

CFO ALEX SINK HONORED BY THE NATURE CONSERVANCY
Former board chair left the board of the environmental nonprofit to pursue public office.

Florida Chief Financial Officer Alex Sink was honored by The Nature Conservancy Thursday for her outstanding service to Florida during the eight years that she served as a member of the group’s Florida Board of Trustees.

Sink joined The Nature Conservancy board in 1998 and served as the elected chairperson from 2004-2006. During that time, the Conservancy helped protect thousands of acres statewide.

“Alex left the Conservancy board to campaign for CFO in 2006, and has been off and running —and governing — ever since. We are pleased to finally recognize her properly for her outstanding service to The Nature Conservancy,” said Jeff Danter, the Conservancy’s Florida director. “Furthermore, we applaud her leadership on the Florida Cabinet. As a member of the very important Board of Trustees of the State’s Internal Improvement Trust Fund, she has been a strong advocate for Florida Forever and land protection. As a public servant, as before on the Conservancy board, Alex Sink is a strong, effective leader on land conservation in Florida.” CONTINUED
CFO SINK SPEAKS TO  FAPA

On Wednesday, CFO Sink spoke to the Florida Association of Property Appraisers (FAPA), a statewide professional organization composed of locally elected, constitutionally authorized property appraisers. FAPA members were in Tallahassee for a conference providing continuing education programs and the opportunity to discuss property tax issues affecting their offices and taxpayers statewide. CFO Sink lauded FAPA members as important public servants committed to the highest standards of excellence.



 
CFO SINK ANNOUNCES ARREST OF A DUVAL COUNTY MAN ON CHARGES OF INSURANCE FRAUD, GRAND THEFT, AND FORGERY
 
Florida Chief Financial Officer Alex Sink announced the arrest of a Duval County man on charges he fraudulently received nearly $400,000 in life insurance from an accelerated death claim.  The arrest involves charges of alleged insurance fraud, grand theft, forgery and uttering a forged instrument.
 
Raymond J. Martinez, Jr., 49, of Jacksonville, is accused of forging a doctor's signature on a claim form submitted to New York Life Insurance Company (NYLIC).  In the form, Martinez stated he had terminal cancer and would likely live 12-months or less.  In response to his fraudulent claim Martinez received a $375,000 check from NYLIC.  Martinez, arrested last week, is currently being held in the Duval County Jail.  If convicted, he could potentially face up 30 years in prison.
 
“Insurance fraud affects everyone, from an increase in premiums for policyholders to the monetary loss of the company,” CFO Sink said. “My office will continue to ensure those who commit insurance fraud are aggressively pursued and held accountable for their devious actions.” CONTINUED

Money-Smart
Idea of the Week

 Every week, look here for a “Money-Smart” idea from the Office of the Chief Financial Officer.

Idea: Resolve to quit!

Many people know about the health benefits of stopping smoking, but have you thought of the financial benefits?  The average smoking Floridian could save more than $1,000 a year by simply quitting the “pack-a-day” habit.  Quitting smoking could also help you lower your life-insurance premiums significantly.

For more financial savings tips click here http://www.myfloridamoney.com/FLSaves.htm

On Wednesday, CFO Alex Sink met with members of the North Dade Regional Chamber of Commerce, also known as the “Red Coats,” discussing topics of interest to North Dade and the State of Florida.