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CBS News
2 days ago
- Business
- CBS News
Florida's DOGE kicks off with audit of Broward County spending, Gov. DeSantis says
Cities, counties and law enforcement agencies across Florida will now undergo state audits, with Broward County being up first, Gov. Ron DeSantis announced Tuesday morning in Fort Lauderdale alongside the state's newly sworn-in Chief Financial Officer Blaise Ingoglia. DeSantis said reviews by his Office of Policy and Budget and Ingoglia's Department of Financial Services will focus on governments that have "refused" to comply with state "Department of Government Efficiency" efforts, which were announced in February. The reviews also are tied to DeSantis' effort to get the Legislature to put a proposed constitutional amendment on the 2026 ballot to lower property taxes. State auditors will be in Broward County and Gainesville starting July 31, DeSantis said. The two local governments were advised Monday night about the announcement. According to the Florida governor, Broward local government spending just doesn't add up. "Their county government has increased property tax burdens by the tune of $450 million, in addition to ad valorem collections, that's an increase of close to 50% just since 2020, but yet the population of Broward has barely grown at all, less than 5%," he said. The governor said the county is spending as if the money belongs to someone else. "I think it was, was it $800,000 for the Rose Bowl? They did a float in the Rose Bowl. The county administrator here makes almost half a million dollars a year. So there's a lot of things that really deserve scrutiny," he said. DeSantis said Broward is among communities that have drawn complaints since the state announced its DOGE efforts, with others being in places such as Hillsborough County, Manatee County, Northeast Florida and South Florida. "In particular, there's a couple sheriff's departments across the state that people find concerns about," DeSantis said. "I find it interesting that the two counties he chosen to audit first are two bright blue counties, but I'm sure that's merely a coincidence," said Geller. He said the state's numbers are off and explained that a large amount of money goes toward the airport, seaport and public safety. Geller also said recently passed legislation is also causing Broward to spend more. "They passed a law saying if there's homeless people, you have to remove them, but they didn't give us any money to do that; the county's having to do that. So, the legislature keeps passing laws that are costing us money and then complaining that we have to spend money!" "We've given them everything they've asked for. They said, 'Well, you didn't pass a resolution telling us you support DOGE.' I don't support it. I'm not grateful they're planning on giving the county a colonoscopy, but we will follow the law." Ingoglia, who was sworn-in as CFO on Monday, said they're going to begin auditing municipalities and agencies with a team on the ground and using artificial intelligence. If the municipalities and agencies don't comply, DeSantis said not only will the state withhold funding, there will also be fines. "For example, if we send a letter to a city and say, you know, provide us information on these 100 things, and they don't do it, then each individual item would be a daily fine of $1,000, so that'd be $100,000 a day," he said. The governor said they are starting with areas where they've gotten a lot of complaints and little compliance. So where does Miami-Dade County stand? "I don't think they fully got on board, but we do have some of the commissioners that are helping on that. So I would say that they've been better than some, but not good enough. So, I think it's very possible that you'll see an announcement on Miami-Dade within the next couple weeks," DeSantis said. DeSantis said Ingoglia, a former state congressman who was sworn in as CFO on Monday, will make his top priority auditing local government spending. In addition to local government audits, Ingoglia said he will focus on ensuring insurance companies follow requirements. "If they're slowing stuff, we're going to have conversations with them," Ingoglia said. "I'm not going to sit back. I'm not going to allow anyone to game the system, whether it is on one side or the other side, whether it is trial attorneys gaming the system or insurance companies gaming the system." Critics have accused some property insurers of not properly paying claims and have raised questions about carriers sending money to shareholders and affiliated companies while seeking rate increases. In his remarks during Monday's ceremony, Ingoglia called the appointment to the Cabinet post an "honor that has been bestowed upon me." This report includes information from the News Service of Florida.
Time of India
6 days ago
- Business
- Time of India
Banks need to build resilience against cyber threat: DFS Secretary
Financial Services Secretary M Nagaraju on Saturday cautioned banks to bolster their defences against the growing menace of cyber threats. Speaking at a prize distribution ceremony of the 'Code Against Malware' hackathon at PNB headquarters here, Nagaraju highlighted the growing importance of cybersecurity in the banking sector. Such initiatives align with the national goal of building resilience against emerging digital threats, he said. Launched in December 2024, the 'Code Against Malware' hackathon invited student teams from IIT Kanpur and other premier institutions to develop endpoint security solutions to detect ransomware, using behavioural analysis, artificial intelligence, and heuristic techniques. The hackathon was conducted in collaboration with the IIT Kanpur, under the guidance of the Department of Financial Services (DFS) and the Indian Banks' Association (IBA), with the objective of fostering innovation in cybersecurity and engaging India's young technical talent. PNB MD and CEO Ashok Chandra, in his remarks, underscored the institution's commitment to driving innovation, strengthening cyber defences, and promoting collaboration between industry and academia. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
6 days ago
- Business
- Economic Times
Banks need to build resilience against cyber threat: DFS Secretary
Financial Services Secretary M Nagaraju on Saturday cautioned banks to bolster their defences against the growing menace of cyber threats. Speaking at a prize distribution ceremony of the 'Code Against Malware' hackathon at PNB headquarters here, Nagaruaju highlighted the growing importance of cybersecurity in the banking sector. Such initiatives align with the national goal of building resilience against emerging digital threats, he said. Launched in December 2024, the 'Code Against Malware' hackathon invited student teams from IIT Kanpur and other premier institutions to develop endpoint security solutions to detect ransomware, using behavioural analysis, artificial intelligence, and heuristic techniques. The hackathon was conducted in collaboration with the IIT Kanpur, under the guidance of the Department of Financial Services (DFS) and the Indian Banks' Association (IBA), with the objective of fostering innovation in cybersecurity and engaging India's young technical talent. PNB MD and CEO Ashok Chandra, in his remarks, underscored the institution's commitment to driving innovation, strengthening cyber defences, and promoting collaboration between industry and academia.
Time of India
7 days ago
- Business
- Time of India
Bank of Baroda opens Raipur zonal office to boost reach in Chhattisgarh
Mumbai: Bank of Baroda has opened a new zonal office in Raipur to deepen its presence in Chhattisgarh and improve administrative efficiency across the region. The move is part of the bank's broader strategy to expand physical infrastructure while continuing its digital push. The office was inaugurated virtually on July 14 by M Nagaraju, secretary in the Department of Financial Services, along with other officials from the Govt and the bank. Nagaraju said the bank should use the new facility to support farmers, entrepreneurs, women, and self-help groups through improved credit access. He added that Chhattisgarh's mineral resources and agricultural base make it a high-potential region for banking outreach. Bank of Baroda's managing director and CEO Debadatta Chand said the Raipur office would allow for faster execution and more localised services. 'Chhattisgarh is one of the most productive and vibrant states in India,' he said. 'Our emphasis on decentralisation, rapid execution, and inclusive growth underpins the decision to open a new zonal office in Raipur.' The Raipur zone will cover 212 branches and four regional offices, with around 66% of the network located in rural and semi-urban areas. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You To Read in 2025 Blinkist: Warren Buffett's Reading List Undo The bank is expected to use the zonal office to strengthen support for MSMEs and local industries and to drive retail, SME, and agriculture-linked lending. The new office will also help implement digital banking services, including the bob World app, and coordinate financial literacy programmes across the state. It will anchor outreach to women entrepreneurs and facilitate partnerships with NGOs and local bodies to deliver govt schemes. Bank of Baroda plans to open 200 branches across the country in FY26. The Raipur office is part of a national network of 25 zonal offices, each functioning as an administrative hub for regional operations and compliance. The bank posted a net profit of Rs 19,581 crore in FY25. Located at Byron Bazar, the new office is expected to improve grievance redressal, enhance customer service, and support risk management. The bank said it would continue to invest in local talent and expand financial services across emerging and industrialising districts in central India. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
15-07-2025
- Business
- Time of India
About 1.4 lakh new PMJDY a/cs opened under financial inclusion saturation campaign: FinMin
About 1.4 lakh new Jan Dhan accounts have been opened in the past fortnight under the nationwide financial inclusion saturation campaign , the finance ministry said on Tuesday. The Department of Financial Services (DFS), under the finance ministry, has launched a three-month nationwide saturation campaign, effective from July 1 to September 30, 2025, to bolster the outreach of flagship schemes, such as Pradhan Mantri Jan Dhan Yojana ( PMJDY ), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY), an official statement said. This campaign seeks to achieve comprehensive coverage across all Gram Panchayats (GPs) and Urban Local Bodies (ULBs), ensuring that every eligible citizen gets the intended benefits of these transformative schemes. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Nearly 1.4 lakh new Jan Dhan accounts have been opened and more than 5.4 lakh new enrolments have been recorded under three Jan Suraksha Schemes in the past fortnight, the statement said. In two weeks, a total of 43,447 camps have been conducted across various districts to facilitate beneficiary enrolment under key schemes and promote financial literacy . Live Events The campaign is scheduled to continue until September 30, 2025, covering approximately 2.70 lakh GPs and ULBs, the statement added.
