Lifetime Citizen Portal Access — AI Briefings, Alerts & Unlimited Follows
Board of Financial Institutions Seeks Small Other-Fund Increases for IT and Personnel
Loading...
Summary
Representatives of the Board of Financial Institutions requested modest other-fund authority increases: the Consumer Finance Division asked for $85,002.59 to cover IT costs, and the Banking Division requested $223,000 for personnel services plus $22,600 for IT increases.
Officials from the Board of Financial Institutions briefed the Senate subcommittee on modest other-funds requests for the Consumer Finance and Banking divisions.
Ron Dodvaki, speaking for the board's Consumer Finance Division, said the division regulates nondepository mortgage lenders and servicers, consumer finance companies, deferred presentment and check-cashing businesses, and asked for $85,002.59 in other-fund contractual services to cover increased IT costs from the Department of Technology Operations.
"This is for an increased cost of IT services provided by Department of Technology Operations," Dodvaki said.
Kathy Bickham, Commissioner of Banking, said the banking division regulates state-chartered banks, savings associations, credit unions and trust companies and described a housekeeping other-funds request to fully fund existing personal-service costs. "What we're asking for today, we view as basically a housekeeping item," Bickham said, requesting $161,000 in personal services to fully fund FTEs (including a 2% cost-of-living increase), about $62,000 to fully fund employer contributions, and $22,600 for IT costs — a total other-funds request cited in testimony of roughly $223,000 plus the IT allowance.
The subcommittee accepted the updates and moved to scheduling and adjournment.
