Treasurer Allison Ball will voluntarily cut current year general fund appropriation spending by one percent, her office announced yesterday morning.
“My role as State Treasurer is to be fiscally responsible with the money taxpayers send to Frankfort,” Treasurer Ball said. “As state government continues to sort out budget challenges and pension liabilities, I am committed to doing my part to ensure my office is financially efficient without disrupting services and also ensuring state budget obligations are met.”
Treasurer Ball’s decision to voluntarily cut her current year general fund appropriation by one percent comes at the request of Budget Director John Chilton, who sent a letter to the State Treasurer’s Office in addition to the other Constitutional Officers asking them to join the Governor in cutting their budgets. Treasurer Ball also cut last year’s general fund appropriation by 4.5% for similar reasons, saving thousands of dollars for Kentucky taxpayers.
“I take my responsibility as watchdog for taxpayer dollars very seriously,” Treasurer Ball said. “My staff has been able to maintain, and in some cases improve, the quality of service we provide while also saving taxpayers money.”
Despite Treasurer Ball’s voluntary cuts, under her leadership her office has improved service quality. Last year the Treasurer’s Office reduced an unclaimed property backlog from ninety days to zero days, and launched a new transparency website at no new cost to taxpayers. Treasurer Ball also started the STABLE Kentucky initiative to help people with disabilities save and invest up to $445,000 over a lifetime. This major change in the law also came at no additional cost to Kentucky taxpayers.