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CFO Sink Statement On Governor Crist's Veto Of HB 5603

01 Jun, 2010 WorkersCompensation.com

                               Tallahassee, FL (CompNewsNetwork) - Florida CFO Alex Sink released the following statement after Governor Crist vetoed HB 5603, which implemented recommendations made by CFO Sink to strengthen the state's Risk Management program and reduce workers' compensation costs to the state.
 
“This legislation was an important step in holding state agencies accountable and reducing workers' compensation costs, and I am very disappointed that Governor Crist chose today to favor special interests instead of Florida taxpayers,” said CFO Sink. “In the business world, it's only practical that you inspect what you expect and do what's necessary to rein in costs, and these program modifications would have allowed us to do just that.”
 
Based on CFO Sink's recommendations, key elements of the legislation (HB 5603) included establishing return-to-work programs for certain state agencies, basing premiums on actual loss experience, and enabling the Division of Risk Management with the responsibility to evaluate state agencies' risk management programs as well as recommend corrective authority. HB 5603 also contained a provision to curtail the increasing costs of prescription drugs in the workers' compensation program. 
 
Risk management is responsible for identifying and controlling exposure to loss or injury resulting from the daily operation of Florida's government. Through the Florida Department of Financial Services, the Division of Risk Management delivers sound, professional guidance to Florida's 48 state agencies and universities to help control loss and mitigate risk.

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