Positive financial outlook for Henderson County as budget planning begins

Positive financial outlook for Henderson County as budget planning begins

Despite the COVID-19 pandemic, Henderson County is projecting a positive financial situation as it begins the process of formulating the next fiscal year budget. Thursday January 21, 2021: Tired of virtual learning? Is your student missing peer interactions? Christ Episcopal School in Rockville is in… Decimalisation 50 years on Shillings and pence were replaced with ‘new pence’ on 15 February 1971, in what proved to be quite a complex process. On ‘D-Day’ businesses had to switch their accounting and pricing to decimal, banks had to adapt their part-computerised, part-manual systems and everyone had to learn the new system, including school … Eastside Distilling, Inc. (NASDAQ:EAST)’s share price was up 8.7% on Tuesday . The company traded as high as $1.53 and last traded at $1.50. Approximately 192,572 shares were traded during mid-day trading, an increase of 47% from the average daily volume of 131,325 shares. The stock had previously closed at $1.38. Separately, Zacks Investment Research […] Join us for EXPOSURE WEEKEND 2021, January 21-24. A weekend of online, virtual Portfolio Reviews. Meet face to face with gallery owners, photo editors, museum curators, publishers and other photo professionals.

Despite the COVID-19 pandemic, Henderson County is projecting a positive financial situation as it begins the process of formulating the next fiscal year’s budget. 

The Board of Commissioners met Wednesday morning to receive a report from County Manager Steve Wyatt, a financial forecast and an overview of budget priorities.

Commissioners heard updates and goals related to Henderson County Public Schools, Blue Ridge Community College and the Henderson County Department of Public Health, as well as renovations at the Henderson County Courthouse, the county jail and the VFW building. 

The challenges from the pandemic have been unlike anything Wyatt has seen in his career, he said. During last year’s budget cycle, commissioners made decisions “conservatively and cautiously” that have put them in a comfortable financial position. 

Sales and property tax collections are currently above what was originally predicted. A significant dip in sales tax related to the pandemic was a particular concern to commissioners as they formulated a final budget last year.

Wyatt stressed that the county is still able to accomplish what it does with a tax rate of 56.1 cents per $100, which is the eighth lowest tax rate out of the 28 urban counties in North Carolina (those with a population over 100,000), and the 21st lowest of the state’s 100 counties.

For the financial forecast, the projected revenue for fiscal year 2021-22 is $147 million, with a base budget of $162.75 million. The current fiscal year revised budget is over $156.71 million.  

The final amounts for the next budget cycle will likely be tweaked many times between now and final approval, Wyatt noted.

The base budget includes appropriations for maintenance, repair, technology and security in the amount of over $7.9 million. This includes over $4.78 million for Henderson County Public Schools and $3.18 million for Blue Ridge Community College. 

The amount needed to make budget would be over $15.75 million, which could lead to reaching into the county’s fund balance and reducing certain expenditures. 

Priorities for the next fiscal year 

Each of the five commissioners briefly touched on their priorities at the end of Wednesday’s meeting.

Chairman Bill Lapsley said he would like to continue supporting substance misuse treatment initiatives. He also wants the commissioners to keep supporting the Ecusta Trail project.

Vice Chair Rebecca McCall emphasized her desire to see funding funneled into improvements at Etowah Park’s walking trail. She is also supportive of beautification efforts, noting that litter on roadways has recently increased.

Commissioner Mike Edney wants to see renovation projects for the Henderson County Courthouse and the county jail given immediate priority. He also discussed increasing support for volunteer fire departments.

The newly elected commissioners, Daniel Andreotta and David Hill, also expressed support for volunteer fire departments. Hill wants the county to consider digitizing more register of deeds records.

Source: www.blueridgenow.com


Local Event: CES Virtual Gr. K-8 Open House &

Local Event: CES Virtual Gr. K-8 Open House & “Creating Future Leaders”

Neighbors — please be mindful of social distancing guidelines while you do your part to slow the spread of the new coronavirus. See the latest guidance from the CDC here.

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Tired of virtual learning? Is your student missing peer interactions? Christ Episcopal School in Rockville is in-person and enrolling mid-year.  Families are invited to a Virtual Open House for K-8 with a presentation on the benefits of a K-8 education for building student confidence, peer support and sense of leadership. Join us!  Register at https://forms.gle/moveLL7t7ihG…

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2021 Montgomery County History Conference

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In the News

In the News

21st January 2021

Decimalisation 50 years on

Shillings and pence were replaced with ‘new pence’ on 15 February 1971, in what proved to be quite a complex process. On ‘D-Day’ businesses had to switch their accounting and pricing to decimal, banks had to adapt their part-computerised, part-manual systems and everyone had to learn the new system, including school children. Decimalisation made life much simpler, even if it meant saying goodbye to old friends such as florins, half crowns and ten bob notes.

Investors increasingly opt for responsible funds

A record quarterly amount of over £7bn had been invested into responsible investment funds by the end of Q3 2020, compared to £1.9bn invested during the same period in 2019. Statistics for September alone show responsible investment funds saw a net retail inflow of £975m for the month. Such funds under management stood at £40bn at the end of September, representing 3% of total funds under management1.

Capital Gains Tax review

The Office of Tax Simplification (OTS) has published its first of two reform reports on Capital Gains Tax (CGT) which calls for CGT to be set at the same rate as Income Tax, which could raise a substantial amount of tax for the Exchequer. A lowering of the annual exemption is also recommended – the OTS estimates that the number of CGT taxpayers would double if the allowance were reduced to £5,000.

Fund managers largely optimistic for 2021

A survey2 has found that 74.5% of all fund managers expect the economy to improve in 2021. Of these, 28% expect it to be ‘much better’ and 46.5% ‘slightly better.’ Only 15.5% expected performance to be worse in 2021 and the remainder thought the economy would perform about the same.

1Investment Association, 2020

2BDO, 2020

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. 

Source: equitasfinancial.net


Eastside Distilling (NASDAQ:EAST) Stock Price Up 8.7%

Eastside Distilling (NASDAQ:EAST) Stock Price Up 8.7%

Eastside Distilling logoEastside Distilling, Inc. (NASDAQ:EAST)’s share price was up 8.7% on Tuesday . The company traded as high as $1.53 and last traded at $1.50. Approximately 192,572 shares were traded during mid-day trading, an increase of 47% from the average daily volume of 131,325 shares. The stock had previously closed at $1.38.

Separately, Zacks Investment Research raised Eastside Distilling from a “sell” rating to a “hold” rating in a research report on Tuesday.

The stock’s 50-day moving average is $1.37 and its 200-day moving average is $1.32. The stock has a market cap of $14.82 million, a price-to-earnings ratio of -0.95 and a beta of 1.70.

An institutional investor recently raised its position in Eastside Distilling stock. Penbrook Management LLC raised its stake in Eastside Distilling, Inc. (NASDAQ:EAST) by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,050 shares of the company’s stock after purchasing an additional 12,030 shares during the quarter. Penbrook Management LLC owned about 1.67% of Eastside Distilling worth $192,000 at the end of the most recent quarter. 16.75% of the stock is currently owned by hedge funds and other institutional investors.

About Eastside Distilling (NASDAQ:EAST)

Eastside Distilling, Inc manufactures, acquires, blends, bottles, imports, exports, markets, and sells various alcoholic beverages. It provides gin under the brands of Big Bottom The Ninety One Gin, Big Bottom Navy Strength, Big Bottom Barrel Finished Gin, and Big Bottom London Dry Gin; rum under the brand name of Hue-Hue Coffee Rum; tequila under the Azuñia Blanco Organic Tequila, Azuñia Reposado Organic Tequila, Azuñia Añejo Tequila, and Azuñia Black brands; and vodka under the Portland Potato Vodka, Portland Potato Vodka Â- Marionberry, and Portland Potato Vodka Â- Habanero brand names.

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Source: rivertonroll.com

Author: Michael Baxter


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Positive financial outlook for Henderson County as budget planning begins

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