Orlando Takes Action On Key Issues

posted in: Issues | 0

Transparency

icon-trans-75Orlando Sanchez has made your Harris County government more transparent. As the elected official who oversees the payment of all expenditures made in the county, he wants you to know how your tax dollars are being spent. He has a created an award-winning website that allows anyone to see exactly what payments have been made—instantly. Under his leadership, Harris County has received major awards for the transparency of its financial data to taxpayers.

During his next term he will make that data even more transparent by adding a new feature that will make all payments searchable using different criteria—such as payee name, type of payment and more.

Credit Interest Swaps

icon-credit-swap-75Credit Interest Swaps (CIS) are agreements based on principle amounts that are supposed to help curb the risk associated with the cost of borrowing.

Municipalities and Counties all over the country used this financial tactic when issuing bonds with fluctuating interest rates and then entered into derivative contracts with banks to protect themselves against the rising cost of borrowing.

In 2008 the banking industry crisis led to a credit market turmoil that ultimately caused the cost of the derivative deals to rise and cost tax-payers across the country millions of dollars.

Currently, the Harris County Toll Road Authority is invested in Credit Interest Swaps (CIS) that are costing toll road users money through rate increases. Orlando Sanchez continues to fight for toll road users by looking for ways for the county to get the Toll Road Authority out of these agreements and thereby to save the county millions of dollars.

Fiscal Responsibility

icon-pig-75Since taking office in January of 2007, Orlando has kept his budget static while the budgets of other offices doing similar business have risen. In fact, according to public records, he has actually decreased the spending of his office by 1%. In Dallas County, the Treasurer’s Office has increased its spending by 4% in that same time; Jefferson County increased 61% and Williamson County 80%.

The City of Houston’s Office of the Controller, which performs similar functions for the City, increased spending by 32% between 2007 and 2014.


Office20072014% Inc/Dec
Harris County Treasurer1,115,8761,100,000-1.42%
Dallas County Treasurer1,116,5881,160,356+3.92%
Jefferson County Treasurer227,162364,587+60.50%
Williamson County Treasurer278,663502,630+80.37%
City of Houston Controller6,346,6758,397,862+32.32%

Sources

Harris County Budgets FY 2007-2008 Departments pg 162
Harris County Adopted GF Budget 2014-15 Plus Mobility
Dallas County FY 2007 Budget Detail pg 58
Dallas County FY 2014 Budget Detail pg 58
Jefferson County Annual Budget 2006-2007
Jefferson County Annual Budget 2013-2014
Williamson County Departments Budget 2007
Williamson County Departments Budget 2014
City of Houston FY 2007 Adopted Budget
City of Houston FY 2014 Adopted Budget