main menu page title feature menus content footer
My Florida C F O

CFO's Initiatives

Stay Connected

Follow the
Department of
Financial Services








 

Sign up for the CFO's
weekly newsletter!

Press Release

News   RSS RSS   Press Office   Archive

CFO Sink Announces Nearly $1 Million in Savings Through Lease Opitimization Initiatives

2/25/2010

CONTACT: Kevin Cate or Jayme O’Rourke, 840-413-2842
 
Working with landlords, moving to state-owned facilities produces big savings
 
TALLAHASSEE— Florida CFO Alex Sink today announced projected taxpayer savings of nearly $1 million from re-negotiation of current and future lease contracts by her Department of Financial Services, and from moving state employees from privately leased space to state-owned facilities. CFO Sink’s Division of Administration began looking at these options in February 2008, and has since identified these significant savings for Florida taxpayers.
 
“I am always looking for ways that we can do more with less, especially when taxpayers are footing the bill,” said CFO Sink. “This is a common-sense, businesslike best practice that makes government more efficient and effective.”
 
Examples include a re-negotiated existing lease for office space in Tallahassee, which will result in savings of approximately $450,000 over the term of the lease. Also, DFS employees leasing space in Daytona Beach from a private landlord moved to a state building, reducing square footage by 4,034 square feet, and saving nearly $200,000 over a two-year period.
 
CFO Sink also commended Senator J.D. Alexander for recently asking all state agencies to meet with tenant brokers to develop similar cost-saving strategies.
 
“If we’re able to save this much in my department, just imagine how much we could save if all state agencies did the same thing,” said CFO Sink. “I look forward to sharing our best practices with other agency heads as they implement this great cost cutting initiative.”
 
CFO Sink has been an outspoken watchdog on behalf of Florida’s taxpayers.  Because of common-sense cost saving and efficiency measures taken by CFO Sink, her Department of Financial Services saved over $5 million in 2009 alone. Other waste-cutting measures include consolidating the Department’s 11 consumer call centers into two call centers, renegotiating existing contracts, and streamlining management, which is estimated to save nearly $10 million in the next 12-18 months.  At www.GetLeanFlorida.com, citizens can offer tips on how to cut government waste and inefficiencies.  For more information on CFO Sink’s common-sense waste cutting, visit www.MyFloridaCFO.com.
 
# # #