American Expatriate Costa Rica

ICE says it has reduced expenses by ¢ 248.49 billion in 3 years

The Costa Rican Electricity Institute (ICE) says it has reduced its spending by ¢ 248,490 million in the last three years.

Jesús Orozco, director of the Corporate Finance Division, pointed out that the reduction is equivalent to 14.2%.

Orozco stated that one of the main reasons that has contributed to optimize the expenses are the actions implemented by the Superior Administration to promote the efficient use of the financial resources of the institution.

The most impacted items in the reduction of expenses were:
-Durable goods: -31.73%
-Materials and supplies: -27.60%
-Remuneration: -16.78%
-Services: -14,84%

Orozco explained that the reduction in the supply of materials and has to do with the gradual completion of the Reventazón Hydroelectric Project. Also, the optimization of the stocks in warehouses has allowed to decrease the purchases.

In services, he highlighted the elimination of rental contracts for buildings, premises and land. Orozco cited as an example the facilities built in Sabana Norte, which absorbed several leases and in which there are around 800 workers now.

In remuneration, he recalled the gradual contraction of the payroll through processes of voluntary labor mobility, freezing of vacancies and termination of occasional personnel contracts.

Between 2015 and 2016, the amount of the salaries of the institutional payroll (which does not include projects) fell by ¢11.8 billion in constant terms.

crhoy.com