Here is an update on some of the savings achieved in our comptrollers office.
- Questioning of the payroll job classifications which result in the risk rate that the insurance company charges, we were able to get the premium reduced by $65,606!
- Workmen’s compensation premium $51,000.
- A fixed asset tracking system has been established to safeguard the Town’s property.
- We initiated the refinancing of old debt to get the lower interest rates which over 20 years is approximately a $60,000 savings.
- We initiated a recording system that tracks retirees’ insurance reimbursements and recovered approximately $10,000 and will prevent loss of future reimbursements.
- We changed financial institutions so that we could have access to monitor bank accounts on a daily basis and to get a better return on our monies. In 2012 that brought in an additional $5,000 compared to 2011.
Many thanks to our Town Comptroller, Cathy Albunio and her great staff for a fantastic job that will reap rewards for us all.