Creating Solutions for America, education, financial institutions, financial markets, Georgia state budget, make America great again, Money, support free education for all US adults at University and Technical Schools, UN Economic Crisis summit, US and Global economic crisis statistics
The U.S. has the world’s largest prison population with one in every 31 adults in the corrections system, which includes jail, prison, probation and supervision. States spent a record $51.7 billion on corrections in fiscal 2008.
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FACTBOX: U.S. states in balancing act on budgets
Fri Jun 26, 2009 10:51am EDT
NEW YORK (Reuters) – U.S. states are resorting to some unusual measures to balance budgets as the economic recession decimates their revenue.
Forty-six U.S. states face fiscal 2010 budget deficits totaling at least $130 billion, according to the Center on Budget and Policy Priorities. During the current fiscal year, 42 states were hit with mid-year shortfalls of a combined $60 billion, according to the Washington think-tank.
FACTBOX: U.S. states in balancing act on budgets
Fri Jun 26, 2009 10:51am EDT
United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development – June 24 – 26, 2009
The United Nations is convening a three-day summit of world leaders from 24 to 26 June 2009 at its New York Headquarters to assess the worst global economic downturn since the Great Depression. The aim is to identify emergency and long-term responses to mitigate the impact of the crisis, especially on vulnerable populations, and initiate a needed dialogue on the transformation of the international financial architecture, taking into account the needs and concerns of all Member States.
The United Nations summit of world leaders in June was mandated at the Follow-up International Conference on Financing for Development, held in December 2008 in Doha, Qatar. Member States requested the General Assembly President Miguel d’Escoto Brockmann to organize the meeting “at the highest level”.
Draft outcome document of the Conference on the World Financial and Economic Crisis and its Impact on Development
We, Heads of State and Government and High Representatives, met in New
York from 24 to 26 June 2009 for the United Nations Conference on the WorldFinancial and Economic Crisis and Its Impact on Development.
1. The world is confronted with the worst financial and economic crisis since the Great Depression. The evolving crisis, which began within the world’s major financial centres, has spread throughout the global economy, causing severe social, political and economic impacts. We are deeply concerned with its adverse impact on development.
This crisis is negatively affecting all countries, particularly developing countries, and threatening the livelihoods, well-being and development opportunities of millions of people. The crisis has not only highlighted longstanding systemic fragilities and imbalances, but has also led to an intensification of efforts to reform and strengthen the international financial system and architecture.
Our challenge is to ensure that actions and responses to the crisis are commensurate with its scale, depth and urgency, adequately financed, promptly implemented and
appropriately coordinated internationally.
2. We reaffirm the purposes of the United Nations, as set forth in its Charter,
including “to achieve international cooperation in solving international problems of an economic, social, cultural, or humanitarian character” and “to be a centre for harmonizing the actions of nations in the attainment of these common ends”. The principles of the Charter are particularly relevant in addressing the current challenges.
The United Nations, on the basis of its universal membership and legitimacy, is well positioned to participate in various reform processes aimed at improving and strengthening the effective functioning of the international financial system and architecture.
This United Nations Conference is part of our collective effort towards recovery. It builds on and contributes to what already is being undertaken by diverse actors and in various forums, and is intended to support, inform and provide political impetus to future actions. This Conference also highlights the importance of the role of the United Nations in international economic issues.
Equity Funds –
A stock fund or equity fund is a fund that invests in equities more commonly known as stocks. Stock funds are contrasted with bond funds and money funds.
Fund assets are typically mainly in stock, with some amount of cash, which is generally quite small, as opposed to bonds, notes, or other securities. This may be a mutual fund or exchange-traded fund.
The objective of an equity fund is long-term growth through capital gains, although historically dividends have also been an important source of total return. Specific equity funds may focus on a certain sector of the market or may be geared toward a certain level of risk.
Stock funds can be distinguished by several properties. Funds may have a specific style, for example, value or growth. Funds may invest in solely the securities from one country, or from many countries. Funds may focus on some size of company, that is, small-cap, large-cap, et cetera.
Funds which involve some component of stock picking are said to be actively managed, whereas index funds try as well as possible to mirror specific stock market indices.
* 1 Fund types
o 1.1 Index fund
o 1.2 Growth fund
o 1.3 Value fund
o 1.4 Sector fund
* 2 Income fund
* 3 Balanced fund
* 4 Asset allocation fund
* 5 Fund of funds
* 6 Hedge funds
* 7 See also
Fund types –
Index funds invest in securities to mirror a market index, such as the S&P 500. An index fund buys and sells securities in a manner that mirrors the composition of the selected index.
The fund’s performance tracks the underlying index’s performance. Turnover of securities in an index fund’s portfolio is minimal. As a result, an index fund generally has lower management costs than other types of funds.
A growth fund invests in the stocks of companies that are growing rapidly. Growth companies tend to reinvest all or most of their profits for research and development rather than pay dividends. Growth funds are focused on generating capital gains rather than income.
This is a fund that invests in “value” stocks. Companies rated as value stocks usually are older, established businesses that pay dividends.
A fund that invests in one area of industry is called a sector fund. Most sector funds have a minimum of 25% of their assets invested in its specialty. These funds offer high appreciation potential, but may also pose higher risks to the investor. Examples include gold funds (gold mining stock), technology funds, and utility funds.
An equity income fund stresses current income over growth. The funds objective may be accomplished by investing in the stocks of companies with long histories of dividend payments, such as utility stocks, blue-chip stocks, and preferred stocks.
Option income funds invest in securities on which options may by written and earn premium income from writing options. They may also earn capital gains from trading options at a profit. These funds seek to increase total return by adding income generated by the options to appreciation on the securities held in the portfolio.
Balanced Funds invest in stocks for appreciation and bonds for income. The goal is to provide a regular income payment to the fund holder, while increasing its principal.
Asset allocation fund
These funds split investments between growth stocks, income stocks/bonds, and money market instruments or cash for stability. Fund advisers switch the percentage of holdings in each asset category according to the performance of that group. Example: A fund may have 60% invested in stocks, 20% in bonds, and 20% in cash or money market. If the stock market is expected to do well, that could switch to 80% stocks, and 10% each in both bond and cash investments. Conversely, if the stock market is expected to perform poorly, the fund would decrease its stock holdings.
Fund of funds
“Fund of funds” implies that the assets of a fund are other funds. The other funds may be stock funds, in which case the original fund can be called “fund of stock funds”. See fund of funds.
“Hedge fund” is a legal structure. Hedge funds often trade stocks, but may trade or invest in anything else depending on the fund. See hedge fund.
* Collective investment scheme
* Investment management
* Venture capital
Retrieved from “http://en.wikipedia.org/wiki/Stock_fund”
Categories: Funds | Finance
Georgia Governor Purdue – Budget Recommendations 2008
Department of Administrative Services
Department Financial Summary
My Note –
So last year, the state of Georgia spent over $137 million dollars on risk management? No wonder there is a budget crisis.
Department of Banking and Finance
Department Financial Summary
Financial Institution Supervision
Provide for safe and sound operation of Georgia state-chartered financial institutions, and to protect the interests of the depositors, creditors, and shareholders of those institutions.
Transfer funds from the Chartering, Licensing and Applications / Non-Mortgage Entities program to the Financial Institution Supervision program to properly budget funds for projected expenses. Restore operational funding for VOIP phone system for field offices.
Total Change $623,279
Protect customers from unfair, deceptive, or fraudulent residential mortgage lending practices and enforceapplicable laws and regulations.
Provide for safe and sound operation of Georgia state-chartered financial institutions, and to protect the interests
of the depositors, creditors, and shareholders of those institutions.
Total Change $12,316
Administration – (for department of banking and finance)
State General Funds $1,876,614 $173,210 $2,049,824
Total Funds $1,876,614 $173,210 $2,049,824
Department of Corrections
Program Budget Financial Summary
State General Funds $82,167,745 $1,069,332 $83,237,077
My Note –
every person pays fee for probation supervision monthly which covers the costs of that probation and every county and city, state and federal system is paying for this through using the tax money and fees levied against each petty offense as well.
* Court fees
Florida, Georgia, Iowa, Minnesota, Nevada and Utah raised court fees.
From the FY 2009 Budget – (Georgia Governor’s Recommendations)
Post-secondary studies are critical to preparing Georgians to compete in the challenging economic climate of this century. The FY 2009 budget includes $115 million to provide funding for enrollment growth in the university system. It also provides $237 million in bonds for continued expansion and enhancement of facilities at institutions around the state: $70 million for the School of Dentistry at the Medical College of Georgia, $33 million for an Engineering Technology Center at Southern Polytechnic State University, and $30 million for major repairs and renovations system-wide. For those students who choose a technical school career path, the FY 2009 budget includes $93 million in bonds to construct new facilities at technical colleges statewide.
State Funds Surplus by Department
(numbers are from FY 2006, FY 2007)
Education, Department of $10,806,643.46 $8,172,469.64
Community Health, Department of $8,671,964.53 $69,344,281.39
*My Note –
So therefore, by cutting services and charging more, cutting programs and refusing to fill vacancies mandated to provide services – these surpluses reflect diverting funds to programs that the Republican administration in Georgia determine to suit themselves. That could be part of the problem . . .
And, considering the amount of money that our taxes are paying out for every last part of the University system, from buildings and land to teachers’ salaries, administration costs, overhead and operating costs – why does any one have to pay again just to attend? That is obscene considering the tuitions and fees being charged.
Every dorm has been built with tax money, every piece of equipment for labs and sports and every administrative computer, xerox machine, telephone and security service, among other things have been purchased and paid for with tax moneys from the state, county, cities and federal budgets.
Those “public moneys” are our paid taxes, service fees, and every other excuse to take money that each citizen has earned.
Is there something wrong with their math skills or is it just another American racket of greed and profiteering?
– cricketdiane, 06-27-09
$114,715,169 is recommended to recognize a 3.36
percent increase in credit hours, bringing the total
number of hours generated to 6,843,691. The credit
hours were generated by a student body of 266,444
students engaged in post-secondary education
activities. Both numbers represent an all-time high for
the University System of Georgia (USG).
$6,500,000 in additional funding for Georgia
Gwinnett College (GGC) to assist with start up and
accreditation requirements is recommended as part
of the USG budget – GGC is the first new college in
the University System since 1970. The first freshman
class of 852 students started in the fall of 2007.
$14,464,286 to provide the first year of funding for
the Board of Regents’ Retiree Health Benefit Fund to
assist in meeting the Regents’ OPEB liability.
$1,000,000 to increase funding for books and
materials for public libraries in addition to $125,431 to
increase the public library state grants formula based
on an increase in state population.
$216,905,000 in bonds recommended for University
System of Georgia (USG) capital outlay projects,
specifically targeting Georgia’s priority educational
needs including a School of Dentistry at Medical
College of Georgia, a nursing and health building at
Gordon College, a new preparatory school at Georgia
Military College, an Engineering Technology Center at
Southern Polytechnic State University, and a teacher
education building at Macon State College.
$35,000,000 in cash and $30,000,000 in general
obligation bonds for major rehabilitation and
renovation on USG’s 35 campuses, representing an
investment in the nearly 75 million square feet of real
property operated and maintained by the University
$700,000 for the Agricultural Experiment Station and
$300,000 for the Cooperative Extension Service
to provide for ongoing maintenance and operating
needs across the state.
$800,000 to complete infrastructure improvements at
the UGA-Griffin campus.
$7,161,000 to expand Medical College of Georgia
course offerings to regional campuses throughout
Georgia to encourage an increase in medical school
enrollment. $159,000 to add 13 residency slots at
teaching hospitals as part of an effort to increase
the number of physicians practicing in underserved
portions of the state. Currently, Georgia ranks 35th in
the nation in physicians per capita.
TECHNICAL AND ADULT EDUCATION
$93,150,000 in bonds for new construction projects
and equipment for the technical college system
$9,800,000 in bonds to acquire property, design, and
construct additional parking at the Georgia World
My Note –
For durn near $10 million dollars, I could find them a damn parking place. That is obscene while there are programs being cut all over the state and metro Atlanta counties which help people and communities through this difficult economic time. It is obvious that the decision-makers value concrete more than people and their own convenience over using tax money to do other things that improve the opportunities for the citizens of Georgia.
Economic vitality in rural Georgia is the singular goal of the OneGeorgia Authority – and we have the tools to help make it happen. From land acquisition, infrastructure development, airport enhancements and broadband creation to machinery purchases, business relocation assistance and entrepreneur support, OneGeorgia provides grants and loans for these economic development activities to qualified applicants.
Our task at the OneGeorgia Authority is to serve as a financial partner and catalyst in helping our rural communities maintain excellent quality of life advantages while also creating sustainable and diversified economies. Local governments, local-government authorities, joint or multi-county development authorities, lending institutions and airport authorities are qualified applicants. Learn if your geographic area is eligible. Learn more about our programs.
Governor Perdue Announces OneGeorgia Awards
Governor Perdue Announces $16.2 million in OneGeorgia Awards
Wednesday, June 24, 2009
BRUNSWICK, GA –Governor Sonny Perdue and members of the OneGeorgia …
Southeast Georgia RDA– building expansion
May 20, 2009
On June 1, 2007, OneGeorgia awarded an Equity loan of $488,541 to the Southeast Georgia Regional Development Authority to support the expansion of the Michigan Blueberry Growers processing facility in Alma. The Equity loan was used for building construction of a pre-cooler building, dry storage room and office space. The expansion will provide much needed cooling space to support the continued growth of blueberries in Georgia. In 1983, a member-owned blueberry marketing cooperative, founde…
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Map of awards in Georgia, does not include metro Atlanta, Savannah and areas next to the state line with SC and NC
Grant & Loan Awards: Bartow County
Equity funds to assist with the construction of 30 T-hangars at the Level III Cartersville-Bartow Regional Airport. Currently the Airport houses 120 private aircraft permanently based at the airport, spread among 60 T-hangars, 50 tie-downs and corporate hangars. There are currently no vacancies for T-hangar space and a waiting list of 100. The new hangars will add economic development capacity, meet an airport need, generate new taxes and encourage tourism. The Airport is ranked by the DOT as number one in the nine airports within Region One and 7th highest in economic activity compared with all 94 general aviation airports in Georgia. Shaw Industries and Anheuser-Busch use the Airport regularly to fly executives in and out for meetings. Georgia Power bases its aerial patrols and resource management there. Phoenix Air Group, a worldwide airline services company and fixed based operator at the Airport, will handle the rental of the hangars. The Company provides many services including electronic warfare training to militaries; air charter, fuel, and advanced flight school services.