We Successfully Navigated the Great Recession!

• Treasurer salary reduced by $91,000 from $116,000 to $25,000 in 2014. Lower salary took effect in 2015.
• Interest income from investments increased during a period declining interest rates during the Great Recession.
• Actual expenditures are DOWN by $98,000 since 2013/14 FY
• Expenditures have been UNDER BUDGET every year of current reforms.
• Total year over year SAVINGS during Current reforms = $815,000
• Treasurer’s current Budget is the LOWEST it has been this decade — $422K in FY 18/19 vs. $424K in FY 10/11.
• Budget is DOWN by $79,390 over last year.
• Extraordinary savings in 2015/16 of $250,000 from salary reduction and vacant deputy position.
• Average annual cost of investment management = $6,552.

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