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Progress Reports – Banking Department

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  1. Spending Reduction Target
    • The Banking Department’s current-year savings target is $6.2 million, reflecting the Governor’s order for a 10.35 percent reduction in projected agency spending.
    • The Banking Department is expected to achieve its full $6.2 million spending reduction target.
  2. Major Savings Initiatives
    • The Banking Department is implementing the following actions to achieve their savings target:
    • Reduced supplies, subscriptions, conference attendance, etc.;
    • Reduced travel expenditures with a focus on overseas and long term stays for Bank Examiners; and,
    • Restructuring of the Department’s equipment replacement cycles.
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