As a result of CDI’s successful right-sizing efforts the Department has increased efficiencies and reduced operational costs. Thus, to keep revenues aligned with expenditures fees are being reduced for the second year in a row. The Insurance Fund will continue to have sufficient revenue to support authorized expenditures and still maintain sufficient reserves. Moreover, the CDI will continue to monitor the fund balance and make any future adjustments to the fee schedule in order to maintain the financial integrity of the fund.
Now if we could just get the Department of Motor Vehicles, State Franchise Tax Board, the Internal Revenue Service, and every other fee collecting governmental agency throughout the United States to do the same thing, we would be in great shape.