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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The levies are also likely to reduce America’s economic output, as has happened before. A 2020 study, based on data from 151 countries, including the US, between 1963-2014, found that tariffs have “persistent adverse effects on the size of the pie,” or the gross domestic product of the country imposing them.
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There are a number of possible explanations for this.
One is that, when tariffs are low or non-existent, the country in question can focus on the kind of economic activities where it has an edge and export those goods and services, Gimber told CNN.
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“If you raise tariffs, you’re not going to see that same level of specialization,” he said, noting that the result would be lower labor productivity. “The labor could be better used elsewhere in the economy, in areas where you have a greater competitive advantage.”
Another reason output falls when tariffs are raised lies in the higher cost of imported inputs, wrote the authors of the 2020 study, most of them International Monetary Fund economists.
Fatas at INSEAD suggested the same reason, providing an example: “So I’m a worker and work in a factory. To produce what we produce we need to import microchips from Taiwan. Those things are more expensive. Together, me and the company, we create less value per hour worked.”
Yet another way tariff hikes can hurt the economy is by disrupting the status quo and fueling uncertainty over the future levels of import taxes. That lack of clarity is particularly acute this year, given the erratic nature of Trump’s trade policy.
Surveys by the National Federation of Independent Business in the US suggest the uncertainty is already weighing on American companies’ willingness to invest. The share of small businesses planning a capital outlay within the next six months hit its lowest level in April since at least April 2020, when Covid was sweeping the globe.
“The economy will continue to stumble along until the major sources of uncertainty (including over tariffs) are resolved. It’s hard to steer a ship in the fog,” the federation said.
Whichever forces may be at work, the IMF, to cite just one example, thinks higher US tariffs will lower the country’s productivity and output.
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The outcome was deadly. Thousands of people are estimated to have lost their lives, according to a first-of-its-kind rapid analysis study published Wednesday.
A team of researchers, led by Imperial College London and the London School of Hygiene and Tropical Medicine, looked at 10 days of extreme heat between June 23 and July 2 across 12 European cities, including London, Paris, Athens, Madrid and Rome.
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Climate change was responsible for the vast majority of heat deaths in some cities. In Madrid, it accounted for about 90% of estimated heat wave deaths, the analysis found.
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