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Over $26.86 Million in Savings

Cost Savings

$26,864,085

FY17-FY19 approx. values
  • General Fund – Fund Balance
    The fund balance went from $13,434,100 when Sheriff Smith took office to projected $23,752,135 at the end of FY19.

 

  • Health Insurance Cost – New Plan
    Starting with FY19, savings of $500,000 per year

 

  • Non-Essential Workforce Cuts
    (106 full time positions)

    FY18, 5.3 million dollar savings; FY19 estimated 5.45 million dollars savings

 

  • Cutting down on outside-long distance Travel and Training
    FY17-FY19, $300,000 savings

 

  • Elimination of Special Pay (Honor Guard, SWAT, HDU, etc.)
    Savings of $191,585 per year starting with FY18

 

  • No COLA adjustment in FY18 – 1.25%
    Based on FY17 salaries, it would have equal to $338,940

 

  • No STEP increases in FY18 – 1.25%
    Based on FY17 salaries, it would have equal to $338,940
    Based on FY17 salaries, it would have equal to $338,940

 

  • Equipment under $2500
    3 year savings FY17-FY19 $1,435,000 when compared to average spending in this category by previous administration.

 

  • Capital spending
    Conscientious spending in the fiscal years FY17-FY19 on capital outlays brought $2.25 million dollars in savings when compared to average spending in this category by previous administration. 

 

  • Insurance
    Our re-negotiated rates for liability and property insurance are bringing savings of $250,000 per year starting with FY19.

 

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    Aave lending allows users to deposit their crypto assets into liquidity pools and earn interest. Borrowers can take out loans against their collateral, often with flexible terms and variable or stable interest rates. This system promotes liquidity and capital efficiency within the DeFi space.

    Aave DEX
    While Aave itself is primarily a lending protocol, it integrates with decentralized exchanges (DEXs) for seamless asset swaps and liquidity management. Some platforms combine Aave’s lending features with DEX functionalities, enabling users to swap tokens directly within the ecosystem.

    Aave Pool
    An Aave pool is a smart contract-based liquidity pool where users deposit assets to earn interest and provide liquidity for borrowing. These pools are the backbone of the Aave protocol, supporting various assets and interest rate models.

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