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CFO Sink Calls for Greater Efficiency, Emphasis on Transparency as SBA Revises Budget

6/9/2009


FOR IMMEDIATE RELEASE: June 9, 2009
CONTACT: Kyra Jennings or Kevin Cate (850) 413-2842
 
CFO SINK CALLS FOR GREATER EFFICIENCY, EMPHASIS ON TRANSPARENCY AS SBA REVISES BUDGET
CFO Sink Sends Letter to SBA Director after Initial Budget Proposal Withdrawn
 
TALLAHASSEE— Florida CFO Alex Sink today sent a letter to State Board of Administration (SBA) Director Ash Williams, providing direction and recommendation as the SBA updates their initial FY 2009-2010 SBA Budget Proposal. 
 
At today’s SBA Board of Trustees Meeting, Director Williams withdrew his proposed FY 2009-2010 budget, instead asking for a continuation budget and time for revisions.  CFO Sink met with Director Williams yesterday to be briefed on the budget, and expressed serious concern over decisions to increase the overall budget by over $3 million (10.56%), without a line-by-line analysis of where efficiencies and cost-cutting measures could be found.
At a time when state agencies and Florida businesses are doing more with less, CFO Sink also requested a review of the SBA’s bonus program and questioned the decision to hire additional staff instead of converting vacant positions.
 
“It is my hope that during this reevaluation process you will be able to develop a budget that continues to strengthen the work and transparency of the SBA, while diligently cutting costs and promoting efficiencies,” CFO Sink wrote.
 
Drawing upon her nearly three decades of private-sector business experience, CFO Sink recently passed motions requiring the SBA to hold quarterly board meetings and to have representatives from the trustees study expanding the structure of the board, based on her recommendation from over a year ago. 
 
CFO Sink’s letter to Director Williams is attached.