The Corozal Town Council has embraced a new direction in financial management, ahead of a proposed scaled-up effort to bring about much-needed infrastructural development for Corozal Town.
Under this new direction, the Council has hired a new administrator, Alberto A. Vellos, who has come on board accepting a 40% REDUCTION IN SALARY compared to previous administrators and also refusing ALL ALLOWANCES that were enjoyed by previous administrators, bringing about immediate cost-saving to the Council through that office.
With the new administrator at the helm, the Council's focus has been on efficiency and improved management supported by lean spending which have resulted in additional cost-savings, in particular in overhead expenses, in his first five weeks alone. A focus on priority spending will assist the Council to improve its long-term financial position.
The new administrator has also introduced new policies implementing stricter controls to improve the management of resources including vehicles and other assets.
The Council continues to recover from million-dollar debt left by the previous 12-year UDP administration, and the severe economic impacts of COVID19.
On the medium-term, the Council will focus on seeking necessary low-interest financing for additional infrastructure works. However, it must improve its financial position by primarily ensuring efficient management and effective collection of revenues.
Under the new direction, the Council is also committed to improving staff relations, community outreach and public accountability by providing financial reports.
The Corozal Town Council thanks the community for their ongoing support and confidence as it works stridently to bring development to Corozal Town.