JEA board blanches at extra hike Aug 20, 2008
2 million fuel reserve fund while also creating a $1. 4 million deficit. (Florida Times-Union)
JIM COSTA: A balanced way to solve our energy crisis Aug 19, 2008
For example, 15% of the royalty funds will go to the Renewable Energy Reserve fund, created within the bill. Another 5% will pay for research and development regarding carbon capture and sequestration, as well as the reprocessing or disposal of nuclear waste -- which is the key to the increased safe use of nuclear power. (Fresno Bee -- Opinion)
Assembly Democrats' budget bill fails Aug 19, 2008
The Democratic proposal says that any revenue more than 5 percent above the state budget estimates would be moved into the reserve fund, until that fund reached 10 percent of the state budget ... Republicans called the plan meaningless, saying that the rules also allowed the Legislature to transfer the money out of the reserve fund on a simple majority vote ... Budget reform: A constitutional amendment, which goes on the November ballot, would double the size of the state's "rainy day" reserve... (San Francisco Chronicle)
Russian Finance Ministry plans to raise taxes and pensions Aug 18, 2008
Under the proposal, Russia's oil revenue will be redistributed between the liquid Reserve Fund, designed to support the budget in case oil prices fall, and the National Wealth Fund, earmarked for riskier investment. The Reserve Fund will shrink to 6 percent of the country's gross domestic product from the current 10 percent, with the cash going to the wealth fund, which now stands at $33 billion, whose main task will be to support the pension system. (International Herald Tribune -- Business)
Henry Brown, helped launch money market fund industry Aug 17, 2008
Mr. Brown's Reserve Fund, which won Securities and Exchange Commission approval in late 1972, was the first money market fund in the United States. With the Reserve Fund, Mr. Brown and a younger colleague, Bruce Bent, challenged what they considered an unfair juxtaposition in rates of return offered to small and large savers ... The fee to open an account with the Reserve Fund was $1,000 and allowed smaller investors to invest in short-term instruments such as Treasury bills, certificates of... (Boston Globe)
Meet Sal Grosso Aug 17, 2008
Paul Jacob :: Townhall. Columns, funnies in your inbox. (Townhall.com)
Canada Pension Has 1% First-Quarter Investment Gain on Domestic Stocks Aug 15, 2008
Canada Pension's reserve fund was valued at C$127 ... Publicly traded stocks represent about 51 percent of the reserve fund, or C$65. (Bloomberg -- Canada)
Community groups need help Aug 14, 2008
The Ways and Means Committee could also act quickly with a reserve fund transfer should the situation get out of hand. There are a number of other local options for concerned individuals to pitch in with. (Burlington Union, MA)
State budget within grasp? Aug 14, 2008
If this deal collapses, lawmakers would likely raid local government funds, borrow money, employ accounting tricks and leave town with a reserve fund that would be inadequate to deal with next year's budget crisis. Such an outcome would extend the state fiscal meltdown to future years, undermine the state's bond ratings and create trickle-down pain for individual cities and counties. (Fresno Bee)
'Dark days ahead' -- Schools look for places to trim Aug 14, 2008
1 million reserve fund, Johnson said. Schwarting said her district doesn t have that option, since its reserve fund is less than $500,000. (Orangeburg Times and Democrat, SC)
UO gets green light on arena alley plans Aug 14, 2008
The process until now: The alley votes came nearly one year after Phil Knight pledged a $100 million athletic-department reserve fund intended to facilitate arena construction. In February, UO officials secured permission from the Legislature to use $200 million in state-backed bonds to build the arena. (OregonLive, OR -- Sports)
Yar'Adua withdraws revenue bill, Senate cuts budget Aug 14, 2008
75 per cent; and the National Reserve Fund, 1. 5 per cent.. (Guardian News, Nigeria)
Big donation spruces up aging locker rooms Aug 14, 2008
Of the donors who have responded to the Y s recent letter, 53 percent told the Y to keep their donations as part of a capital reserve fund, 23 percent said to put their money in the Y s endowment fund, and the remainder have requested a refund. Many of those who want a refund are foundations that can t give the money away unless it s for a specific project, and may donate again once a plan is in place, Gallimore said. (Rapid City Journal, SD)
Sewer plant project awaits IEPA review Aug 13, 2008
5 million needed for the first phase set aside in the reserve fund. Phase two would cost between 12 to 13 million, Wuellner estimated. (Pekin Times, IL)
Tupelo CVB eyes new home, new year Aug 12, 2008
CVB Executive Director Linda Butler Johnson said Monday that the group's new building is consuming a lot of resources, and the organization has had to dip into their reserve fund to cover some of the costs. Construction is ticking along, with the move-in date somewhere in September or October. (Northeast Mississippi Daily Journal)
First money arrives from Erie charitable windfall Aug 11, 2008
She said her group decided to put a good chunk of the installment into an endowment with the Erie Community Foundation and the rest into a reserve fund. The Erie City Mission decided to pay off debt and use some of the money for a capital campaign to build a new mission and women s center. (Somerset Daily American, PA)
Power struggle Aug 11, 2008
She said utility profits are put in a reserve fund, now totaling about $5 million. The fund is there to support the continued operation of the plant, she said. (Anchorage Daily News)
ESCONDIDO: Six candidates return papers for council race Aug 9, 2008
"I think we're going through too much money. There was a large reserve fund the city had two years ago, and now we're almost out of money. It was supposed to be for the hard times, and I don't think we're at the hard times yet.". Voelker moved to Escondido in 1973 and met his wife, Aldina, at San Pasqual High School. (North County Times)
Taxes going up in Peachtree City Aug 8, 2008
The city will make up the difference with a reserve fund, officials said. In other council news, Panasonic donated $13,000 to the Peachtree City Police Department to go toward the start of a K-9 police dog unit. (Atlanta Journal-Constitution -- Metro)
Nearly $1 billion of Jefferson County sewer debt went to advisers, debt service, reserves Aug 8, 2008
7 percent, went into a reserve fund for investments, future projects and emergencies. $273 million, 8. (AL.com)
GRF Board accepts resolution that Rossmoor is CSO, approves handyman service Aug 7, 2008
The stickler for some Board members was item 8, which reads The fiscal year 2009 operations budget will propose initiation of an operations and maintenance reserve fund(s) ... The decision to delete the item calling for a reserve fund was split, with four Board members wishing to keep it in; however, ultimately the Board voted to accept the principles as stated with the exception of that item. (Walnut Creek Rossmoor News, CA)
More of this story Aug 7, 2008
The money was transferred from the Street Lighting Reserve Fund, which City Clerk Diana Filban said is still in "good shape.". Increasing the Cut Bank Police Department's STEP Grant Fund by 4,000 to allow receipt of an unanticipated grant from the State Highway Traffic Safety Bureau. (Cut Bank Pioneer Press - Golden Triangle, MT)
Coahoma County bails out sheriff's budget Aug 6, 2008
(AP) - Coahoma County's reserve fund of $1. 3 million took a big hit after the Board of Supervisors approved a transfer of $490,000 from the fund into the budget managed by Sheriff Andrew Thompson Junior. (WREG.com, TN)
Letter policy should be fair Aug 6, 2008
At the time, nearly 65% of people polled in a CNN poll indicted that "things are going either moderately badly or very badly in Iraq. July 2007: McCain voted against a plan to drawdown troop levels in Iraq. At the time, an ABC poll found that 63% thought the invasion was not worth it, and a CBS News poll found that 72% of respondents wanted troops out within 2 years. March 2007: McCain was too busy to vote on a bill that would require the start of a drawdown in troop levels within 120 days with... (Rockingham Daily Journal, NC)
Councilwoman: No record that water tank at Faire/Canal streets insured Aug 4, 2008
Michael Sponhour, spokesperson for the state Budget and Control Board, said, The Insurance Reserve Fund does insure a water tank at 113 Main Street ... Harmon said the tank at 113 WS Main Street is not even in use but that the town is paying an annual $242 premium for its coverage under the Insurance Reserve Fund. (Orangeburg Times and Democrat, SC)
Vacations don't always mean rest, relaxation Aug 3, 2008
Mr. Brigham said he'd been against an increase until the final discussions, when he realized it would leave the city's reserve fund with only $12 million after the city spends $10 million to buy the Gilbert Manor property for the Medical College of Georgia and uses the $5 ... The reserve fund will be paid back with money from the next special purpose local option sales tax issue, but that's at least a year away. (The Augusta Chronicle)
Best Money-Market Funds Aug 2, 2008
Best Money-Market Mutual Funds (Fidelity Cash Reserves, DWS MMF, Vanguard Tax-Exempt MMF, Fidelity Municipal MM Trust, TIAA CREF MM, Transamerica Premier Cash Reserve Fund, MFS MMF, Alpine Municipal MMF, DWS Tax-Exempt Money Fund) at SmartMoney ... Transamerica Premier Cash Reserve Fund () ... You Are Viewing: Best Money-Market Mutual Funds (Fidelity Cash Reserves, DWS MMF, Vanguard Tax-Exempt MMF, Fidelity Municipal MM Trust, TIAA CREF MM, Transamerica Premier Cash Reserve Fund, MFS MMF, Alpine... (SmartMoney)
EuroBancshares, Inc. Reports Financial Results for the Second Quarter Ended June 30, 2008 Aug 1, 2008
Authorized 150,000,000 shares; issued: 20,439,398 shares in 2008 and 20,032,398 shares in 2007; outstanding: 19,500,315 shares in 2008 and 19,093,315 shares in 2007 204,394 200,324 Capital paid in excess of par value 110,035,651 107,936,531 Retained earnings: Reserve fund 8,029,106 8,029,106 Undivided profits 58,651,436 61,789,048 Treasury stock, 939,083 shares at cost in 2008 and 2007 (9,910,458) (9,910,458) Accumulated other comprehensive (loss) income (13,034,330) 1,110,173 Total... (PR Newswire)
City’s infrastructure to benefit from added tax: City will share cost of replacing sidewalks with property owners ... Genealogy: Searching for roots is huge hobby in U.S. ... ';var marqueewidth="350px";var marqueeheight="25px";var marqueebgcolor="#FFFFFF";////NO NEED TO EDIT BELOW THIS LINE////////////var pauseit=1;var marqueespeed=1 //slow speed down by 1 for NSvar copyspeed=marqueespeedvar pausespeed=(pauseit==0)? copyspeed: 0var iedom=document.all||document.getElementByIdif (iedom)document.write(''+marqueecontent+'')var actualwidth=''var cross_marquee, ns_marqueefunction populate(){if (iedom){cross_marquee=document.getElementById? document.getElementById("iemarquee") : document.all.iemarqueecross_marquee.style.left=parseInt(marqueewidth)+8+"px"cross_marquee.innerHTML=marqueecontentactualwidth=document.all? temp.offsetWidth : document.getElementById("temp").offsetWidth}else if (document.layers){ns_marquee=document.ns_marquee.document.ns_marquee2ns_marquee.left=parseInt(marqueewidth)+8ns_marquee.document.write(marqueecontent)ns_marquee.document.close()actualwidth=ns_marquee.document.width}lefttime=setInterval("scrollmarquee()",20)}window.onload=populate;function scrollmarquee(){if (iedom){if (parseInt(cross_marquee.style.left)>(actualwidth*(-1)+8))cross_marquee.style.left=parseInt(cross_marquee.style.left)-copyspeed+"px"elsecross_marquee.style.left=parseInt(marqueewidth)+8+"px"}else if (document.layers){if (ns_marquee.left>(actualwidth*(-1)+8))ns_marquee.left-=copyspeedelsens_marquee.left=parseInt(marqueewidth)+8}}if (iedom||document.layers){with (document){document.write('')if (iedom){write('')write('')write('')write('')}else if (document.layers){write('')write('')write('')}document.write('')}}Friday, August 01, 2008 The newly replaced sidewalk at the corner of 7th Street and 14th Ave. NE, near the Devils Lake Cemetery features the proper specifications required by the city of Devils Lake including the new “rumble strip” for those who are visually impaired. City’s infrastructure to benefit from added tax: City will share cost of replacing sidewalks with property owners Aug 1, 2008
Poorly maintained sidewalks, and the liabilities they create for property owners and cities alike, have been a topic of much discussion at the ND Insurance Reserve Fund. In the past, when sidewalks were considered a hazard to pedestrians, the property owner would receive a letter from the city requesting they replace the sidewalks at their own expense. (Devils Lake Daily Journal, ND)
Bill would allocate severance tax money for state highways Aug 1, 2008
If approved, the bill would divert a portion of the severance tax revenue that currently flows into the Legislatures reserve fund to WyDOT for highways. A portion of that amount would go into an existing multilane highway account that was created by the Legislature several years ago but never funded. (Gillette News-Record, WY)
* More shops join shopping quality guarantee program Aug 1, 2008
The association also has an emergency reserve fund to refund customers on the behalf of the store if the latter is unable to offer any compensation. Emphasizing that trust is the basis for any trade, Tourism Bureau Director-General Janice Lai () said the program was implemented to make sure that tourists could shop knowing they would get a fair deal. (Taipei Times, Taiwan -- World)
SF Mayor Approves City's $6.5 Billion, '08-'09 Budget Jul 31, 2008
About $19 million has been set aside for schools through the city's rainy day reserve fund, in order to offset potential state cuts in education funding that have threatened teachers jobs. "We are going to fully fund those cuts, if indeed, those cuts materialize," Newsom said. (NBC 11, CA)
Lavonia club's razing cheered Jul 31, 2008
Your Connection to the. Web Search powered by YAHOO. (Athens Banner-Herald)
Police chief says cuts too deep Jul 31, 2008
Options for funding include transfer of money from free cash or from the reserve fund or an override at the fall Town Meeting. The only other possible funding source is residents donations similar to the Save the Teachers campaign that raised almost $20,000 for the school department. (Georgetown Record, MA)
HUD local aid not much help, officials say Jul 31, 2008
In the first three years, some of the money will be diverted to a reserve fund to cover any losses the Federal Housing Administration incurs while refinancing troubled mortgages for homeowners facing foreclosure. Money that eventually flows from the fund will be doled out to states, which in turn will distribute money to agencies and developers qualified to produce rental housing. (San Diego Union-Tribune -- Business)
Preservation easement concerns in Hilltown Jul 30, 2008
The first option would be to pay for both out of the township's open space fund and transfer the additional needed funds from the capital reserve fund. The capital reserve fund is a new fund started in the past year to help prepare to pay for needed projects over time, but thus far, Christman said none of the money in the fund is allocated for any particular purpose. (Springfield Sun, PA)
Kelso schools slash $900,000 from budget Jul 30, 2008
This year s reserve fund balance of 1. 9 million is nearly half last year s 3. (Longview Daily News, WA)
Milton, Fulton County wrestling over money Jul 29, 2008
8 million, which it promptly put in its reserve fund. With Milton, the county sent Milton a $4. (Atlanta Journal-Constitution -- Metro)
Commissioners review surveyor, courthouse general budgets Jul 29, 2008
Under capital outlay, 100,000 was budgeted into the capital reserve fund for unforeseen expenditures, Morgan said. The general fund receives about 800,000 yearly in revenue from other departments reimbursements. (Leavenworth Times, KS)
NC county grapples with depleted reserve fund Jul 28, 2008
EDENTON, N.C. Officials in Chowan County are grappling with a depleted reserve fund and a notice from the state that it has violated the law ... reported Monday that more than $20 million in reserve funds are gone but only one instance was documented of money being taken from the accounts. (The Daily Reflector)
County discusses Justice Center’s financial responsibility Jul 26, 2008
The EMS equipment reserve fund currently has a cash balance of 131,059, which would provide additional funding for the purchase. Commission Chairman Clyde Graeber said he would rather wait until the entire 2009 proposed budget process is completed before the board approves the purchase. (Leavenworth Times, KS)
Beacon Hill Roll Call: House, Senate approve two-day tax holiday in August Jul 26, 2008
ESTABLISH LOCAL FUND TO PAY RETIREES FOR COMP DAYS (H 1949) - The House approved and sent to the Senate legislation allowing cites and towns to create and fund a reserve fund for the future payment of compensated days off owed to municipal employees who retire. QUOTABLE QUOTES. (Cambridge Chronicle, MA)
Pirates Charities to host auction on FSN Jul 26, 2008
The total cost of the Miracle Field will be approximately $300,000, though MLSWPA is hoping to raise close to $500,000 so that a reserve fund will be available when improvements and renovations are needed down the road. is a reporter for MLB.com. (MLB.com -- Pittsburgh Pirates)
Jehlen, Provost vote agains tax holiday Jul 25, 2008
ESTABLISH LOCAL FUND TO PAY RETIREES FOR COMP DAYS (H 1949) The House approved and sent to the Senate legislation allowing cites and towns to create and fund a reserve fund for the future payment of compensated days off owed to municipal employees who retire. Loading commenting interface. (Somerville Journal, MA)
Temporary fix at Needham's Newman School to cost more than allotted at Town Meeting Jul 24, 2008
Since only $300,000 was allotted at Town Meeting for a temporary solution to the heating and ventilation system in the East Wing of the school, the town must dip into the Department of Public Facilities operating budget and then ask the Finance Committee for a reserve fund transfer to cover the bill. The operating funds are immediately accessible, Merson said. (Needham Tab, MA)
Veto of MWRA rate relief funds may devastate reserve account Jul 24, 2008
There are three ways the reserve fund is affected, he said. First, if consumption is not where it is supposed to be then consumption shortfalls will have to be made up from the reserve account. (Wakefield Observer, MA)
Public Information Notice: IMF Executive Board Concludes 2008 Article IV Consultation with Chile Jul 24, 2008
The government's two sovereign wealth funds, the Pension Reserve Fund and the Fund for Economic and Social Stabilization, now hold a combined 12 percent of GDP in assets, all invested abroad ... They endorsed plans to invest parts of the Pension Reserve Fund and the Fund for Economic and Social Stabilization into broader asset classes, including those with variable returns, and considered that an evaluation of Chile's long-term copper wealth could be useful in formulating a long-term investment... (IMF News)
Volunteers needed for FINCOMM Jul 24, 2008
The Finance and Advisory Committee is responsible for the reserve fund. The committee holds regular meetings before town meetings to consider the items which make up the annual budget and makes recommendations on all warrant articles involving appropriations and expenditures of town funds and disposition of town property. (Hamilton Wenham Chronicle, MA)
Board holds decision on bike trail Jul 24, 2008
Wenham s Finance Director Sarah Johnson attended the last week s selectmen s meeting to bring a few more Reserve Fund transfers and encumbrances to their attention ... Johnson reported that approximately $280,000 was left in the Reserve Fund for the current fiscal year. (Hamilton Wenham Chronicle, MA)
FDIC chair says more banks in danger of failing Jul 24, 2008
SAN FRANCISCO The chairwoman of the Federal Deposit Insurance Corp. said Tuesday more banks are in danger of failing, and that the government agency expects to raise premiums to restore its reserve fund after paying out billions of dollars to depositors at IndyMac Bank ... The FDIC's reserve fund is expected to drop after IndyMac's losses are accounted for, but the reserve should weather future payouts, she said ... The FDIC is required to keep a reserve fund totaling 1. (San Diego Union-Tribune -- Business)
Lunch prices going up at Devils Lake Public Schools Jul 23, 2008
89; Special Reserve Fund, 140,000; Interest ng Fund, 162,000; Food Service Fund, 769,000; Asbestos Fund, 1,500; Building Fund, 275,000; and Special Assessments Fund, 90,000. The board also approved the Certificate of Levy for a total dollar amount of 4,856,500, which includes a 10 mill Building Fund Levy, a 3 mill Special Reserve Levy, a 3 mill High School Tuition Levy, the maximum amount allowed for the General Fund Levy, as well as necessary amounts for the Singing est, Special Assessment and... (Devils Lake Daily Journal, ND)
Consolidated primary plan reaches ballot Jul 23, 2008
Under a measure approved by voters in 1996, 15 percent of that money goes to parks and salmon restoration; 18 percent goes to an education reserve fund; and the rest is divvied up between economic development and K-12 school funding. Comments. (Coos Bay-North Bend The World, OR)
Logan County 2008-09 budget Jul 23, 2008
The road fund is budgeted 2,376,212; the jail fund is budgeted 2,102,896; the LGEA fund is budgeted 242,035; the solid waste fund is budgeted 662,250; the occupational tax fund is budgeted 177,995; the Lifeskills fund is budgeted 70,600; the 911 fund is budgeted 664,246 and the special reserve fund is expected to have 3,418,248 by the end of the fiscal year (this is a savings). Most of the county's large revenue comes from real estate taxes which are estimated to be 1 million in 2008-09 and... (Russellville News Democrat Leader, KY)
McCain Camp Teases the Media Jul 23, 2008
The chairwoman of the Federal Deposit Insurance Corp. said more banks are in danger of failing, and that the government agency expects to raise premiums to restore its reserve fund after paying out billions of dollars to depositors at IndyMac Bank. A Texas grand jury Tuesday indicted polygamist sect leader Warren Jeffs and four of his followers on charges of felony sexual assault of a child. (FOXNews)
Parking ramp plan hits an expensive snag Jul 23, 2008
The two likeliest places for the city to find additional funds is the 2012 program or the capital improvements reserve fund. Alderwoman Deb Hadcock prefers using reserve funds to award the bid now, then repaying the fund with 2012 revenue ... Some council members were concerned about using nearly two-thirds of the 1 million available in the reserve fund on the ramp's expansion. (Rapid City Journal, SD)
Construction completion Jul 21, 2008
4 million revenue bond authorized by the Legislature and from the auxiliary reserve fund. In 2009, the Bismarck School District will build a new career and technical center across the street to expand programming. (Bismarck Tribune, ND)
Wisconsin may have to borrow from feds to pay jobless claims Jul 21, 2008
With the economy struggling and jobless claims rising in the state, Wisconsin s reserve fund for paying those claims could slip into insolvency in March of next year, a state projection shows ... The state s unemployment reserve fund, already well below national averages and federal recommendations, has just a quarter of the cash it had 71/2 years ago on the eve of the country s last economic crisis, state and federal figures show. (La Crosse Tribune, WI)
Culver: Flood recovery won't force other cutbacks Jul 19, 2008
Culver said the state's emergency reserve funds are at historic levels ... "We have 620 million in our reserve fund, our emergency fund today," said Culver ... "By comparison, after the floods of '93 they had 48 million in the reserve funds. The good news is there are emergency funds that we can tap if we need to.". (Sioux City Journal, IO)
Hope Valley school getting emergency repairs Jul 19, 2008
Because money for the work will likely come from Chariho s capital reserve fund, it will not require an account transfer, he said. This will be resolved and we will open the Hope Valley school in the fall, Ricci said. (Westerly Sun, RI)
2008-2009 city budget is lean, but in good shape Jul 19, 2008
The proposed budget shows that the city has 73,878 left to use if the 22 million reserve fund was deducted from the fund balance, said assistant city manager Regie Neff. According to the Power Point presentation at Friday s meeting, any changes to the budget that exceed 73,878 would require corresponding budget cuts. (McKinney Courier-Gazette, TX)
Manpower 2Q profit tops estimate but outlook weak Jul 19, 2008
The company put an additional $50 million into a legal reserve fund related to a tax inquiry by French regulators, and took a related charge in the latest quarter of $14. 8 million, or 18 cents per share. (San Diego Union-Tribune -- Business)
Also-ran Pirkle endorses Green Jul 18, 2008
The drop in the county reserve fund "from $159 million to $71 million at the end of this fiscal year," he wrote is a problem that he believed the chairman should have prevented. Green said she felt "privileged" to have his support. (Atlanta Journal-Constitution -- Metro)
Court decision on GRF Seal Beach doesn't apply to Rossmoor, GRF general counsel tells GRF Board Jul 17, 2008
Smith then asked about the item referring to creating a Trust operations and maintenance reserve fund, why Salmons included it and how it would be funded. Salmons said he felt the reserve fund is not only prudent, but also anticipated by the Trust Agreement. (Walnut Creek Rossmoor News, CA)
State ends year deep in the red Jul 17, 2008
5 billion reserve fund to balance last year's budget. In anticipation of the slow economy, the governor already had ordered state agencies to come up with plans to cut 3. (Atlanta Journal-Constitution)
Alyea tackles unknowns of school finances Jul 17, 2008
This is the reason Elgin and other districts must have a reserve fund balance to meet the first payroll, which is approximately 900,000 every two weeks in September of each year. The district must also be able to fund supplies, fuel and other needs from reserve funds ... The Texas Education Agency sets a target percentage for reserve funds of approximately 25% of the total operating budget. (Elgin Courier, TX)
