State Collects First Billion Dollars from Tax Modernization Project
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For Immediate Release
Enterprise Data to Revenue (EDR) project reaches major financial milestone ten months early
Sacramento –The Franchise Tax Board (FTB) along with its vendor partner CGI Technologies and Solutions, Inc. (CGI) announced an important achievement today—the recovery of an added $1 billion in state tax revenue resulting from its massive tax system modernization project.
"Recovering 1 billion dollars via the EDR program is more than a number on a spreadsheet. It represents the ability to invest in additional services the State can deliver to improve the lives of all Californians. FTB and CGI's efforts here have a real and personal impact on millions of citizens—a true example of the power of technology to transform government for the good of all, We are proud to acknowledge this important milestone in our 20+ year partnership with FTB" said George Schindler, President of CGI's US and Canada Operations.
"It took many hands across all of FTB to get us to this point so successfully," said Selvi Stanislaus, FTB Executive Officer. "My real thanks go to all the dedicated staff for embracing EDR and making it so successful. California will be reaping the benefits for years to come."
EDR is not a new system. It's a 66-month project modernizing existing systems allowing FTB to maximize revenue by using data faster and more effectively, and at the same time, minimize costs by automating manual processes.
During these 66 months, EDR is projected to raise more than $4.7 billion and an added $1 billion per year thereafter. In the first two years of the project, EDR’s actual revenue has nearly doubled the projected revenue. This first-billion milestone comes almost 10 months ahead of the projected April 2015 schedule.
The EDR Project is the first of several FTB IT projects described in its Strategic Plan that addresses modernizing FTB tax systems and business processes. EDR began July 1, 2011, and will be completed December 31, 2016.
For more information, go to FTB’s website at ftb.ca.gov and search for, “EDR Project.”
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