OKLAHOMA CITY – State Treasurer Ken Miller is asking the Legislature to cut appropriations for his office this session.
Miller made his request for a five-percent budget cut on Thursday afternoon during a pre-session performance review of the treasurer’s office by the House Appropriations and Budget Subcommittee on General Government.
“Our request for a $190,000 cut in appropriations is made possible by a concerted effort to become more efficient and tightly focused on our core treasury functions,” Miller told the subcommittee. “By outsourcing non-core jobs and taking advantage of advances in technology, we have increased our output while decreasing our costs.”
Just a few years ago, the treasurer’s office had 72 employees working in three locations around Oklahoma City. By the end of this fiscal year, the staff will be 40 percent smaller and every treasury employee will be working in one location at the State Capitol Building.
“By bringing all of our employees into the Capitol building, we’ll garner future savings by eliminating the need for leased office space,” Miller said.
“The first phase of our office consolidation, in 2011, increased usable workspace by 32 percent and addressed long-standing security concerns with the vault and teller window. The second and final phase, to be completed in April, will increase usable workspace by 85 percent within the treasury’s existing square footage.”
Miller’s budget reduction request follows cuts of 17 percent during the recent recession.
The treasurer’s office manages banking and treasury services for some $23 billion deposited each year, the daily investment of more than $6 billion, and the return of unclaimed property to Oklahomans. In the past fiscal year, more than 1.3 million credit card transactions and nine million electronic payments were processed. The volume of electronic payments has more than tripled in the past nine years.
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For more information contact:
Tim Allen, Deputy Treasurer for Communications & Program Administration