I am the founding father of the Security for Alabama Funds Enhancement Program. I served on the initial board and for a time as Vice Chair. The program, which is chaired and administered by the treasurer, was initiated in 2001. It insures all public funds held in qualified public depositories in the state. It replaced an obsolete and cumbersome process. It has been an effective cost saving system for protecting $6.4 billion in bank deposits of the state and its participating cities and counties.