Fiscal management – Hot Bag Sale UK http://hotbagsaleuk.com/ Sun, 26 Jun 2022 03:31:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://hotbagsaleuk.com/wp-content/uploads/2021/06/icon-55-150x150.png Fiscal management – Hot Bag Sale UK http://hotbagsaleuk.com/ 32 32 Fourth StepStone Group Report – GuruFocus.com https://hotbagsaleuk.com/fourth-stepstone-group-report-gurufocus-com/ Sat, 25 Jun 2022 21:26:09 +0000 https://hotbagsaleuk.com/fourth-stepstone-group-report-gurufocus-com/ NEW YORK, May 26, 2022 (GLOBE NEWSWIRE) — StepStone Group Inc. (STEP), a global private markets investment firm focused on providing personalized investment solutions and advisory and data services, has today announced its results for the fourth quarter and fiscal year ended March 31, 2022. The Company’s Board of Directors declared a quarterly cash dividend […]]]>

NEW YORK, May 26, 2022 (GLOBE NEWSWIRE) — StepStone Group Inc. (STEP), a global private markets investment firm focused on providing personalized investment solutions and advisory and data services, has today announced its results for the fourth quarter and fiscal year ended March 31, 2022. The Company’s Board of Directors declared a quarterly cash dividend of $0.20 per Class A common share, payable June 30 2022, to holders of record at the close of business on June 15, 2022.

StepStone has released a comprehensive and detailed presentation of its fourth quarter and full year 2022 results, accessible by clicking on here.

Results webcast and conference call

Management will host a webcast and conference call on Thursday, May 26, 2022 at 5:00 p.m. ET to discuss the Company’s results for the fourth quarter and year ended March 31, 2022. The conference call will also be available in the Shareholders section section of the Company’s website at https://shareholders.stepstonegroup.com/. To listen to a live broadcast, go to the site at least 15 minutes before the scheduled start time to register.

The conference call can be accessed by dialing 1-877-407-0784 (U.S.) or 1-201-689-8560 (international).

A replay of the call will also be available on the Company’s website approximately two hours after the live call through June 9, 2022. To access the replay, dial 1-844-512-2921 (United States). USA) or 1-412-317-6671 (international). The replay PIN is 13729721. The replay can also be accessed from the Shareholders section of the Company’s website at https://shareholders.stepstonegroup.com.

About StepStone

StepStone Group Inc. (STEP) is a global private markets investment firm focused on providing personalized investment solutions and advisory and data services to its clients. As of March 31, 2022, StepStone was overseeing $570 billion in private market allocations, including $134 billion in assets under management. StepStone’s clients include some of the largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and wealth clients. private, which include wealthy clients and mass affluent individuals. StepStone partners with clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

Forward-looking statements

Certain of the statements contained in this release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. All other statements that statements of historical fact are forward-looking. Words such as “anticipate”, “believe”, “continue”, “estimate”, “expect”, “future”, “intend”, “may”, “plan” and “will” and similar expressions identify forward-looking statements. Forward-looking statements reflect management’s current plans, estimates and expectations and are inherently uncertain. The inclusion of any forward-looking information in this release should not be taken as a representation that the contemplated future plans, estimates or expectations will be achieved. Forward-looking statements are subject to various risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, global and national market and business conditions, the successful execution of business and growth strategies and regulatory factors relevant to our business, as well as assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity, and the risks and uncertainties described in more detail in the “Risk Factors” section of our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on June 23, 2021, and in our Annual Report on Form 10-K filing with the SEC for the year ended March 31, 2022, as these factors may be updated from time to time. We undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

contacts

Shareholder Relations:
Seth Weiss
[email protected]
1-212-351-6106

Media:
Brian Ruby / Chris Gillick, ICR
[email protected]
1-203-682-8268

StepStone-Group-Inc.png

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Ap improves its budget deficit despite the odds | Amaravati News https://hotbagsaleuk.com/ap-improves-its-budget-deficit-despite-the-odds-amaravati-news/ Fri, 24 Jun 2022 03:01:00 +0000 https://hotbagsaleuk.com/ap-improves-its-budget-deficit-despite-the-odds-amaravati-news/ Amaravati: Despite the challenges posed by Covid-19, the state government seems to have put fiscal management on the right track.The fiscal discipline followed by the state government has started to pay off as the PA reported the lowest budget deficit among neighboring states. Although the state has yet to recover from the bifurcation-induced revenue shortfall […]]]>

Amaravati: Despite the challenges posed by Covid-19, the state government seems to have put fiscal management on the right track.
The fiscal discipline followed by the state government has started to pay off as the PA reported the lowest budget deficit among neighboring states. Although the state has yet to recover from the bifurcation-induced revenue shortfall some eight years ago, the measures initiated by the YS Jagan Mohan Reddy government have injected the necessary energies into the fiscal health of the state.
Interestingly, the debt-to-equity ratio is considerably low over the past three years compared to the debts incurred over the previous period. PDT regime. The annual debt growth rate during the TDP regime between 2014 and 2019 was around 19.2%. This figure was reduced to 15.77 despite the Covid-19 having caused serious damage to income inflows over the past two years.
The last Controller and Auditor The General’s Preliminary Report (CAG) for the financial year 2021-22, puts the total debt incurred by the AP government during the year at ₹25,194 crore. The state government budgeted the borrowings in the 2021-2022 budget at ₹370.29 crore. This means that he had borrowed nearly ₹12,000 crore less than expected.
Sources said the Center had recently warned several states of deteriorating fiscal health and urged them to tighten their belts. The Center reported circulating the latest fiscal condition in the states during the chief secretaries conference held in Dharmasala. “We performed well in a few segments, recovering in a few others. We may also need to improve in some other segments. Each setting is a different story and cannot be compared to any other setting or other states. said the Special Chief Secretary (Finance). SS Rawat Tell yourself.
He said the state government has been following fiscal discipline measures for the past three years. He said, however, that they are working overtime to straighten out the situation, as AP is the only state in the country to branch off without sufficient revenue or tax base.
He said they knocked on every door during Covid-19 to manage people’s health. He said they handled the situation without state migrations. “Yes, there is a lot to do. But we are working overtime to overcome the situation,” Rawat said.

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Sierra Leone: Leveraging SME Finance as an Engine for Economic Growth and Job Creation https://hotbagsaleuk.com/sierra-leone-leveraging-sme-finance-as-an-engine-for-economic-growth-and-job-creation/ Tue, 21 Jun 2022 14:52:46 +0000 https://hotbagsaleuk.com/sierra-leone-leveraging-sme-finance-as-an-engine-for-economic-growth-and-job-creation/ Download logo The new economic update for Sierra Leone indicates that the economy grew by 3.1% in 2021, after shrinking by 2.0% in 2020. Agriculture contributed nearly half of total growth in 2021; The analysis offers several recommendations, including the need to develop a coordinated national approach to expanding access to finance for SMEs; The […]]]>
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The new economic update for Sierra Leone indicates that the economy grew by 3.1% in 2021, after shrinking by 2.0% in 2020. Agriculture contributed nearly half of total growth in 2021; The analysis offers several recommendations, including the need to develop a coordinated national approach to expanding access to finance for SMEs; The report also outlines several reform priorities for the government to consider, including prudent fiscal management to balance emerging spending needs and limited fiscal space.

Small and medium-sized enterprises (SMEs) are key to achieving economic diversification goals, including expanding Sierra Leone’s agriculture-based economy into sectors such as tourism and fisheries, according to a new report. World Bank economic analysis for Sierra Leone.

Sierra Leone Economic Update 2022, Leveraging SME finance and digitalization for inclusive growth, notes that the government’s sector reform program should focus on measures to urgently develop adequate financial services that meet the specific needs and financing requirements of SMEs to achieve economic growth and improve livelihoods. subsistence. It further notes the need for key structural reforms in the financial sector that go beyond specific SME and digital finance reforms. The report found that weak business skills among entrepreneurs make it difficult for SMEs to become creditworthy or investment-eligible businesses, as venture capital and bank finance providers said it remains very difficult to find investable companies in the country. This is mainly because entrepreneurs and SMEs in general lack the basic business skills to build resilient businesses that can respond to market challenges.

Sierra Leone’s economy grew by 3.1% in 2021, after shrinking by 2.0% in 2020. Agriculture contributed more than half of total growth, followed by services and industry. Manufacturing has been the fastest growing subsector, growing 12.3% in 2021 after a 6.7% contraction the previous year, benefiting from government support for SMEs through the Fund MUNAFA and the Bank of Sierra Leone’s 500 billion leone special credit facility, as well as increased investment in agribusiness. However, public finances have deteriorated since the onset of COVID-19 while inflationary pressures have accelerated since mid-2021, driven first by the post-pandemic rebound in consumption and then by chain disruptions. global supply chain since the start of the war in Ukraine, and pressures to depreciate the Leone.

While SME financing has been recognized as a priority for the government through demonstrated efforts such as the creation of SMEDA, the SME policy and the more recent deployment of the MUNAFA fund, the effectiveness of these efforts has been questioned. challenged by lack of focus and fragmentation of efforts. There is a need for these interventions to be scrutinized to ensure their effectiveness to ensure that the current loan amounts and on-lending price cap have the intended reach and market impact for SMEs,” said Kemoh Mansaray, World Bank Senior Economist and lead author of the report.

The report indicates that economic growth is expected to reach 4.4% over the period 2022-2024 with contributions from investments (especially in mining and agriculture) on the demand side, and from agriculture , tourism, construction, and mining and manufacturing on the supply side. However, the growth outlook faces significant risks and uncertainties due to the war in Ukraine, global inflationary pressures and the continued threat of COVID outbreaks. Headline inflation is expected to remain elevated in 2022 due to continued global supply chain disruptions.

While prudent policy measures are being taken to meet the financing needs and requirements of SMEs as well as to ensure a sustainable recovery of the economy, the report also recognizes the major role that government plays in the development of the sector and the industry. country’s overall economy and makes recommendations for several areas. Key reform priorities include:

  • Robust performance Comments: continuous monitoring and evaluation of government MSME programs should ensure that public spending is having the intended impact on growth priorities
  • National definition of MSMEs: develop a coordinated national approach to expand access to finance for SMEs, develop and implement a uniform national definition of MSMEs, and systematically expand data collection on SMEs and SME finance from government agencies and financial institutions
  • Remove structural barriers: existing structural barriers need to be overcome for digital financial services to be delivered to entrepreneurs, including rural farmers and agribusinesses
  • COVID crisis assistance: expand social safety nets and increase cash transfers to cover more households and businesses affected by rising food and fuel prices
  • Prudent budget management: this is crucial to balance new spending needs and limited fiscal space
  • Monetary Policy: maintain the balance between lower inflationary pressures and a stronger recovery. With inflation mainly fueled by supply-side shocks, too rapid a tightening of the policy stance could stall the recovery

In addition to investing in SME development, the report identifies the need to prioritize structural reforms to diversify the economy. Reforms should focus on creating an enabling environment for the private sector to support long-term economic growth, which in turn will support determined domestic revenue mobilization.

Distributed by APO Group on behalf of the World Bank Group.

This press release was issued by APO. Content is not vetted by the African Business editorial team and none of the content has been verified or validated by our editorial teams, proofreaders or fact checkers. The issuer is solely responsible for the content of this announcement.

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3 stocks to buy if they dip https://hotbagsaleuk.com/3-stocks-to-buy-if-they-dip/ Sun, 19 Jun 2022 14:45:00 +0000 https://hotbagsaleuk.com/3-stocks-to-buy-if-they-dip/ The S&P500 has had a tough 2022 so far, down 23% at the time of this writing. While many high-growth high-tech stocks have been particularly hard hit by the market rout and could sell for bargain prices, there are still some companies that look expensive. Here are three stocks that, although they’ve all been down […]]]>

The S&P500 has had a tough 2022 so far, down 23% at the time of this writing. While many high-growth high-tech stocks have been particularly hard hit by the market rout and could sell for bargain prices, there are still some companies that look expensive.

Here are three stocks that, although they’ve all been down year-to-date, investors will want to seriously consider buying if their prices fall further. Let’s take a closer look.

Chipotle Mexican Grill

While many restaurants just struggled to survive as the coronavirus pandemic gripped the economy, Chipotle Mexican Grill (GCM 2.56%) flourished. The famous Tex-Mex chain increased its number of stores by 14.3% from the first quarter of 2020 to the first quarter of 2022. And even if the company faces difficult comparisons compared to the period of the previous year, the income and earnings per share increased by 16% and 25.6% respectively in the first quarter of this year.

Chipotle has performed so well throughout the pandemic thanks to its strong digital foundation. The company’s popular drive-thru option, known as Chipotlane, increases accessibility and convenience for hungry customers. And the burgeoning rewards program, which now has 28 million members, is helping Chipotle retain customers.

And the business doesn’t seem to be slowing down anytime soon. The management team, led by CEO Brian Niccol, believes that North America can one day have more than 7,000 locations. Not only is this more than double the current footprint, but this goal exceeds the 6,000 slots previously planned.

With shares of Chipotle up 174% over the past five years, the stock is currently trading at a price/earnings ratio (P/E) ratio of 51. This is much more expensive than other restaurant stocks like McDonald’s, Dominos Pizzaand Starbucks. Its shares appear to be priced perfectly, so investors should expect a pullback from current levels.

Wholesale Costco

The superb quality of Costcoit is (COST -1.12%) The business model has been on display over the past two years as consumers flocked to one of the company’s 832 warehouse clubs to complete their entire purchases in one stop. Revenue of $196 billion for fiscal 2021 was 17.5% higher than the prior year. And the momentum is still strong, with same-store sales in May jumping 15.5% year-over-year.

Costco’s overarching goal is to keep the prices of goods – ranging from groceries to electronics – as low as possible. Due to its huge size, the company is able to loosen its bargaining power with suppliers to negotiate favorable terms. Items are marked up only 11%, on average, lower than other major retailers. And thanks to Costco’s lucrative membership model, he is able to retain an incredible clientele. At the end of the third quarter of fiscal 2022, the renewal rate in the United States and Canada was 92.3%.

Unsurprisingly, Costco’s main growth strategy is to open more warehouses. the company plans to open 10 new warehouses in the fourth quarter, most of them in the United States. And in China, where Costco has just two locations today, management sees a huge opportunity.

As of this writing, the stock is trading at a P/E multiple of 35, significantly more expensive than its rivals. walmart and Big BJ Club. Given the stock’s 168% rise over the past five years, the premium valuation is not shocking. Costco is a wonderful company, and it trades as such. Put this one on your watch list for now.

lululemon Athletics

Rounding out this list, a burgeoning sportswear manufacturer Lululemon Athletica (LULU 2.50%). With stores closed during pandemic restrictions, the business has been able to rely on its direct-to-consumer business. In the three months ended May 1, online sales accounted for 45% of its overall business. This helped strengthen the brand, as demonstrated by Lululemon’s exceptional gross margin of 53.9%.

The maker of popular women’s yoga pants now has a growing men’s business. This segment has grown in revenue at a compound annual growth rate of 30% over the past three years, outpacing the female segment’s 24% rate. On the new product front, footwear – which management says is attracting incredible interest from consumers – should also help boost sales.

During the first quarter of 2022, North America generated 83% of the company’s total revenue. Therefore, looking ahead, Lululemon has a huge opportunity internationally. Unsurprisingly, China is likely to be a major growth engine in the years to come. In its last fiscal quarter, markets outside of North America accounted for 62% of Nikeoverall sales. If this indicates where Lululemon can go, then there’s still a long streak of growth ahead.

Lululemon has been a great title to own, growing 426% over the past five years. But despite falling 29% this year, its shares are still selling at a P/E of 35, which is more expensive than competitors’ shares. This company is certainly very successful in the sportswear industry, but investors should be patient before buying the stock.

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City of Corpus Christi continues to receive strong financial rating https://hotbagsaleuk.com/city-of-corpus-christi-continues-to-receive-strong-financial-rating/ Fri, 17 Jun 2022 15:20:46 +0000 https://hotbagsaleuk.com/city-of-corpus-christi-continues-to-receive-strong-financial-rating/ CORPUS CHRISTI, TX — The three major rating agencies, Moody’s, Standard and Poor’s Global Ratings and Fitch, reaffirmed the ratings of the city’s general bonds and utility revenue bonds, all with a stable outlook. Moody’s, Standard and Poor’s Global Ratings and Fitch reaffirmed the city’s general bond ratings of Aa2, AA- and AA, respectively, and […]]]>

CORPUS CHRISTI, TX — The three major rating agencies, Moody’s, Standard and Poor’s Global Ratings and Fitch, reaffirmed the ratings of the city’s general bonds and utility revenue bonds, all with a stable outlook.

Moody’s, Standard and Poor’s Global Ratings and Fitch reaffirmed the city’s general bond ratings of Aa2, AA- and AA, respectively, and the city’s utility revenue bond ratings of Aa3, AA- and AA- respectively, all with a stable outlook. Ratings for general obligation and utility revenue are in the higher category. The City received these notes on the heels of a strong second quarter fiscal 2022 financial report presented by City Manager Peter Zanoni at the May 10, 2022 City Council meeting.

The City will issue $20 million in bond certificates, $40 million in general improvement bonds and $102 million in combined utility system revenue bonds to fund projects included in the capital improvements and projects approved by voters in the Bond 2020 proposals. The City’s credit rating must be established before debt is issued.

“According to rating agencies, the City’s credit ratings have been reaffirmed in part due to the City’s financial transparency,” said Mayor Paulette Guajardo. They noted that our credit ratings reflect continued strong fiscal performance, with strong available reserves and financial policies and practices. We commend City Manager Peter Zanoni for his continued leadership and exceptional financial acumen. »

The City’s strong rating reflects the strong financial profile and combined performance of the City’s general fund and public service system, supported by strong economic growth, conservative financial policies and professional management.

“Improving the financial stability of the City was one of my main goals when I arrived here three years ago,” said City Manager Peter Zanoni. “During difficult economic times and a global pandemic, the City of Corpus Christi has maintained and even improved its bond rating, and we will continue to be good stewards of the City’s finances for the good of the community.”

The City expects to issue the debt at the end of June and will receive the proceeds before the end of the current fiscal year.

Media representatives who request more information may contact Strategic Communications Specialist Emilio Flores at 361-826-2944 or by email at emiliof2@cctexas.com.

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WASB not renewing its membership in the national organization https://hotbagsaleuk.com/wasb-not-renewing-its-membership-in-the-national-organization/ Wed, 15 Jun 2022 15:13:59 +0000 https://hotbagsaleuk.com/wasb-not-renewing-its-membership-in-the-national-organization/ The Wisconsin School Boards Association voted not to renew membership in the national organization due to concerns about its governance structure, financial management, and “failure to prioritize and serve school board associations.” of State”. In a message to lawmakers Monday night, the WASB wrote down many of its concerns “before the events of last fall,” […]]]>

The Wisconsin School Boards Association voted not to renew membership in the national organization due to concerns about its governance structure, financial management, and “failure to prioritize and serve school board associations.” of State”.

In a message to lawmakers Monday night, the WASB wrote down many of its concerns “before the events of last fall,” when the National School Boards Association sent a letter to President Biden asking for help from the federal government in response. threats of violence and intimidation. for school board members. The letter added that some of the actions could be classified as “domestic terrorism” or hate crimes.

The group later issued an apology to members, but the WASB withdrew in November from any involvement in the national organization’s programs, activities and lobbying efforts. The WASB could not terminate its membership at the time because it had already paid dues and there was no refund mechanism, the state organization said at the time.

In Monday’s post, the WASB wrote that the actions “unnecessarily harmed relationships with school boards and inflamed partisan tensions.”

The WASB board voted on Friday not to renew its membership for the 2022-23 school year, and more than half of the nation’s public school board organizations have moved away from the NSBA or dropped their membership. .

The WASB is looking for an alternative national association, although it wrote in the message that it does not prevent NSBA membership in the future.

“Our support for parental and community input is unwavering,” the post read. “We realize that we are partners with our parents and community members and that the vast majority of interactions with our constituents are cordial, collaborative and thoughtful. We understand that important policy decisions can be discussed with passion, but in a way that reinforces the core principle of public schools – local control of student education.

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Keith Meadors joins Precipio to lead its Products division https://hotbagsaleuk.com/keith-meadors-joins-precipio-to-lead-its-products-division/ Mon, 13 Jun 2022 15:00:00 +0000 https://hotbagsaleuk.com/keith-meadors-joins-precipio-to-lead-its-products-division/ Precipio, Inc. Seasoned, industry-experienced executive with experience managing 9-figure sales organizations NEW HAVEN, Conn., June 13, 2022 (GLOBE NEWSWIRE) — A cancer diagnostics company, Precipio, Inc. (NASDAQ: PRPO)announced today that Keith Meadors has joined Precipio as Senior Vice President of its Products Division, to manage and drive the company’s growth and market share. Keith brings […]]]>

Precipio, Inc.

Seasoned, industry-experienced executive with experience managing 9-figure sales organizations

NEW HAVEN, Conn., June 13, 2022 (GLOBE NEWSWIRE) — A cancer diagnostics company, Precipio, Inc. (NASDAQ: PRPO)announced today that Keith Meadors has joined Precipio as Senior Vice President of its Products Division, to manage and drive the company’s growth and market share.

Keith brings over 30 years of leadership experience in various healthcare organizations, including his recent role as Vice President of Marketing at Fresenius Kabi, a global healthcare company specializing in life-saving medicines and technologies, headquartered in Bad Homburg, Germany, with US headquarters in Lake Zurich, Illinois. During his 8 year tenure, Keith’s organization expanded its product portfolio to include the Agilia Infusion System, IV Solutions and Halo CSTD. Keith also led commercial marketing efforts in the recent acquisition of Ivenix, Inc. for a combined purchase price of $240 million.

Previously, Keith held several roles at Hospira (acquired by Pfizer in 2015 for $17 billion), where he served as district manager, director of pricing and strategic contracts, and district sales manager. Keith also worked at Becton Dickinson Diagnostics Systems, a global leader in products and instruments used for the diagnosis of infectious diseases, in a variety of sales, marketing and business development roles.

“I am thrilled to have Keith join the Precipio team. His vast experience and expertise is exactly what we need in the Products division,” said Ilan Danieli, CEO of Precipio. “Keith’s addition to the team further underscores the potential the company sees in the Products division, and the importance of bringing in talent of his caliber, to capitalize on the potential of the business.”

“It is an honor to join the distinguished team at Precipio, and I am delighted to share my own expertise and knowledge of product growth and development with the Product Division team. My mission is to lead the Products Division to increase revenue, gain visibility and reach the market,” said Keith Meadors, Senior Vice President of the Products Division at Precipio.

About Precipio

Precipio has built a robust specialty cancer diagnostics platform that enables the rapid development of highly differentiated, proprietary clinical diagnostic products that deliver superior clinical, operational and economic benefits to laboratories worldwide. Precipio leverages its relationships with world-class academic institutions, coupled with its in-house clinical laboratory that enables its in-house product development and testing engine to create and offer proprietary tests and reagents that improve accuracy diagnosis and improve patient care. For more information, please visit www.precipiodx.com.

Please follow us on LinkedInon Twitter @PrecipioDx and on Facebook.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements relating to forecasts or the potential impact of the novel coronavirus (COVID-19) pandemic, and related government, consumer and business responses, on our business, financial condition and results of operations, and any such forward-looking statements, whether relating to the COVID-19 pandemic or otherwise, involve risks, assumptions and uncertainties. Excluding historical information, statements about future volumes, sales, growth, costs, cost savings, margins, earnings, earnings per share, diluted earnings per share, cash flow , plans, objectives, expectations, growth or profitability are forward-looking statements based on management’s estimates, beliefs, assumptions and projections. Words such as “could”, “may”, “expect”, “anticipate”, “will”, “target”, “goals”, “project”, “intend”, “plan” , “believes”, “seeks”, “estimates”, “forecasts” and variations of these words, and similar expressions which reflect our current opinions with regard to future events and operational, economic and financial performance, are intended to identify these forward-looking statements. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management’s expectations, or that could affect the company’s ability to achieve its strategic objectives, include uncertainties related to the impact of COVID- 19 on the business, operations and employees of the company and the other factors which are described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis” in the company’s annual report on Form 10- K for the year ended December 31, 2021, as updated from time to time in the Securities and Exchange Commission Filings.

The company’s forward-looking statements in this press release are based on opinions, beliefs, hypotheses and expectations regarding future events and speak only as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws.

CONTACT: Inquiries: investors@precipiodx.com +1-203-787-7888 Ext. 523
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BIG: Department of Homeland Security Failed to Comply with Payment Integrity Act in Fiscal Year 2021 https://hotbagsaleuk.com/big-department-of-homeland-security-failed-to-comply-with-payment-integrity-act-in-fiscal-year-2021/ Sat, 11 Jun 2022 14:11:43 +0000 https://hotbagsaleuk.com/big-department-of-homeland-security-failed-to-comply-with-payment-integrity-act-in-fiscal-year-2021/ The Department of Homeland Security failed to comply with the Payments Integrity Act of 2019 (PIIA) in fiscal year 2021, the Office of Inspector General found. Two Federal Emergency Management Agency (FEMA) programs failed to meet the PIIA requirement that a program’s combined rate of inappropriate and unknown payments be less than 10%. Improper payments […]]]>

The Department of Homeland Security failed to comply with the Payments Integrity Act of 2019 (PIIA) in fiscal year 2021, the Office of Inspector General found.

Two Federal Emergency Management Agency (FEMA) programs failed to meet the PIIA requirement that a program’s combined rate of inappropriate and unknown payments be less than 10%. Improper payments are payments made to the wrong parties or for the wrong amounts; unknown payments are made without sufficient supporting documents.

The OIG conducted the audit to determine whether DHS had complied with PIIA and Executive Order 13520, Reducing Inproper Payments (November 20, 2009), in fiscal year 2021. The OIG also assessed the accuracy and completeness of DHS payment integrity reports.

The OIG found that DHS’s categorization of payments as appropriate, inappropriate, or unknown appears to be correct. Four sampled FEMA payments had a significant amount of documentation, but the documentation did not show how FEMA determined the payments were appropriate. Therefore, the OIG could not reconcile support for the full payment amounts, but found the differences to be insignificant.

The OIG also found that DHS efforts to prevent and reduce improper and unknown payments appear to be adequate.

DHS no longer meets Executive Order 13520 criteria; therefore, the OIG has not conducted any testing in this area.

The OIG made two recommendations that, when implemented, should improve DHS compliance with PIIA. DHS agreed with both recommendations and provided corrective action plans.

Read the OIG report

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List of news | City of OKC https://hotbagsaleuk.com/list-of-news-city-of-okc/ Thu, 09 Jun 2022 07:10:27 +0000 https://hotbagsaleuk.com/list-of-news-city-of-okc/ The Oklahoma City Council on Tuesday passed the city manager’s budget for fiscal year 2023, which begins July 1. Visit okc.gov/budget to view the budget book. Budget overview The City’s total budget for FY2023 is approximately $1.8 billion, an increase of $141.6 million from the amended FY22 budget. The main driver of growth is the […]]]>

The Oklahoma City Council on Tuesday passed the city manager’s budget for fiscal year 2023, which begins July 1.

Visit okc.gov/budget to view the budget book.

Budget overview

The City’s total budget for FY2023 is approximately $1.8 billion, an increase of $141.6 million from the amended FY22 budget.

The main driver of growth is the MAPS 4 program fund, which increased by $131.6 million to $250.4 million.

The General Fund, which pays for day-to-day operations, is budgeted at $557.3 million, an increase of $57.1 million (11.4%) from FY22. The high level of growth is attributed to the extraordinary growth in sales tax in the current fiscal year. year.

The budget includes funding for 4,989 full-time positions, an increase of 123 positions (2.5%) over the FY22 total.

Budget Highlights

Firefighters

Adds 18 fire stations, four civilian stations and funds $23.5 million in equipment replacement.

police department

Adds eight civilian accident investigation positions, five 911 dispatchers, two senior crime scene investigators, two senior crime analysts, two emergency management positions, two grant-funded community relations coordinators, one administrator, a licensed professional counsellor, a chaplain, a FACT program coordinator and increases the size of the Crisis Intervention Team (CIT). It is also fully funding the equipment replacement at $25.8 million. Funding to implement the recommendations of the Law Enforcement Police Task Force and the Community Policing Task Force is included in the non-departmental budget.

Public works

Adds four pothole repair positions, adds eight positions in various sections such as plan review, drainage engineering and street reconstruction, and contracts out utility repairs (employees in this section will be transferred to vacant positions within the department). These initiatives result in a net reduction of 17 positions without reducing service levels.

Development Services

Adds four animal welfare positions and three development center positions. The Subdivision and Zoning division and its seven employees move to the Urban Planning Department.

Planning

Adds a position to coordinate grant applications under the Infrastructure Act and an overall planning position. The department will conduct a request for proposals for outreach services for the homeless in FY23 in response to recommendations from the Homelessness Task Force and the Enforcement Policy Task Force. law. Seven subdivision and zoning staff will move from Development Services to Planning.

Public transport and parking

Adds three City-funded positions and 24 COTPA-funded positions for Bus Rapid Transit (BRT), five parking enforcement positions, and one network administrator. $600,000 is also added to cover higher fuel costs.

Utilities

Adds 12 customer service positions, two garbage collector positions and 10 positions in various divisions. It also adds $800,000 to cover higher chemical costs at water treatment plants.

Parks and recreation

Adds two irrigation technician positions, funds for contract mowing of medians and rights-of-way, a recreation coordinator and a management specialist. Due to contract mowing, an improved mowing frequency is expected in the parks, and the parks are creating a trail maintenance team and a sports field equipment maintenance team. The budget includes staffing for the Willa D. Johnson Center.

City Manager’s Office

Adds an inclusion and diversity position, a special events permit position, a marketing coordinator, an accountant at MAPS and a special projects manager. Funding for the implementation of the recommendations of the human rights working group is included in the non-departmental budget.

General services

Adds seven positions for a fire station renovation crew, a fleet services writer, a building maintenance mechanic, and $1 million to cover higher fuel costs.

Computer science

Adds three utility-funded positions to support their systems as well as a governance, risk and compliance program manager. It also adds two security positions, an inventory technician, and $1.3 million to cover higher software costs.

Other departments

Finance is adding three accountant positions, the City Auditor is adding an Audit Manager, HR is adding an Employee and Labor Relations Manager, and the City Councilman’s Office is adding an Economic Development Lawyer and a Litigation Lawyer, and municipal courts add two quality control coordinators.

Law Enforcement Policy Task Force, Community Policing Task Force, Homelessness Task Force and Human Rights Commission

$2.4 million is allocated to implement the recommendations of these groups, which includes a professional mental health response to some police calls.

Museum of the First Americans

Includes $1 million for operations funding in addition to the $2 million contributed by the Chickasaw Nation.

MAPS 4

Increases funding from $118.8 million to $250.4 million.

ARPA/ERAP

Maintaining $58 million for the implementation of the American Rescue Plan Act (ARPA) and the Emergency Rental Assistance Program.

Funding

Oklahoma City’s main source of revenue is sales tax, which pays for daily services. Every time you shop in Oklahoma City or buy something online, you’re investing in your community.

The city gets 4.125% of taxable sales made in Oklahoma City, or when Oklahoma City residents buy something online. Of this amount, 2.25% goes to the General Fund, which pays for current operations. About half to two-thirds of the general fund is for public safety – our police and fire departments.

Police and fire departments also have a dedicated public safety sales tax of ¾ of a cent. The OKC Zoo receives 1/8th of a cent, and finally there is the temporary MAPS 4penny sales tax.

The City also receives approximately 13% of your total property tax bill. Our share is used to repay general bond bonds that we use for bond projects under the Better Streets, Safer City program. This funds the improvement of streets, parks, police and fire facilities and other needs for the next few years. Check them out at okc.gov/BetterSafer. The rest of your property tax goes elsewhere – public schools, libraries, vocational schools and the county government.

The hotel tax imposed on stays in hotel rooms is the only other significant source of tax revenue for the City. It is dedicated to promoting tourism and improving the fixed assets of the OKC Exhibition Center.

The City also derives revenue from franchise fees, building permits, business licenses, fines, service changes and fees. Visit okc.gov/tax for an overview of our revenues.

Budget context

The budget is guided by feedback received from an annual resident survey. Information from the survey also helps the city council set priorities. These priorities are:

  • Promote safe, secure and prosperous neighborhoods.
  • Develop a transportation system that works for all residents.
  • Maintain strong financial management.
  • Improve recreation opportunities and community well-being.
  • Encourage a strong local economy.
  • Maintain high standards for all City services.
  • Continue to pursue social and criminal justice reforms.

The Council also uses a five-year forecast, which includes an economic outlook presented by Dr. Russell Evans, an economist at Oklahoma City University. The forecast helps assess Oklahoma City’s economy, financial condition, and operating expenses.

Hearings on the proposed budget for fiscal year 2023 began May 3, with a budget overview and proposed budget submissions from the fire department and police department.

Presentations for Parks and Recreation, Development Services, Planning and Public Transportation, and Parking were held on May 17 and Public Works, Utilities and Airports presented their proposed budgets on May 31.

Residents were invited to submit their comments on the budget online and by text between May 3 and June 5. These comments were presented to Council on June 7th.

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Media Contact:

Kristy Yager

(405) 297-2550

kristy.yager@okc.gov

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Treasury Single Account helps government save 10,000 cr in interest charges https://hotbagsaleuk.com/treasury-single-account-helps-government-save-10000-cr-in-interest-charges/ Tue, 07 Jun 2022 14:58:51 +0000 https://hotbagsaleuk.com/treasury-single-account-helps-government-save-10000-cr-in-interest-charges/ The government has managed to save about ₹10,000 crore in interest charges in the financial year 2021-22 (FY22) using a new accounting mechanism that aims to release funds for government programs “just on time”. Finance Secretary TV Somnathan revealed this on the sidelines of an event held to launch the Single Nodal Agency (SNA) Dashboard […]]]>

The government has managed to save about ₹10,000 crore in interest charges in the financial year 2021-22 (FY22) using a new accounting mechanism that aims to release funds for government programs “just on time”.

Finance Secretary TV Somnathan revealed this on the sidelines of an event held to launch the Single Nodal Agency (SNA) Dashboard by Finance Minister Nirmala Sitharaman. The scorecard is part of a public finance management reform that was launched in 2021 regarding the way funds for centrally sponsored schemes (CSS) are released, disbursed and monitored.

“About ₹4.46 million rupees goes through the programs sponsored by the center and it is not a small sum. Today we are able to track this money. It is a huge success in making governance transparent. This amount of money is also sent just in time. What better realization of value for every rupee disbursed,” Sitharaman said, while launching the dashboard.

Under the new system, each state must identify and designate an SNA for each plan. All funds for this State in a particular program will be credited to this bank account, and all expenditures will be made by all other implementing agencies involved in this account. It ensures that the allocation of funds to the states for CSS is done in a timely manner and after fulfilling various stipulations. Stating that “just in time” are the three magic words of remittance, she said the SNA would facilitate payments.

Reduced expenses

Somanathan said this system would help reduce interest expenses because the money would be released when it is needed. “If the money is stuck somewhere, we would like to minimize what is stuck and keep it where it is most effectively held. I would like to pay as little public money as possible in interest,” he said.

The SNA and the TSA (Treasury Single Account) help us to minimize the interest charges borne by the government and this is not a negligible cost. “It helps us a lot, especially in a difficult year like the current financial year. These are extremely useful in containing the budget deficit as much as possible,” he said.

Later, a senior government official said that with the help of a new mechanism, states had over ₹1.20 crore in unspent balance as of March 31, 2022. “This means we had to borrow less “, he explained.

What is ASD

Previously, after approval, funds were allocated and disbursed to various ministries, departments, autonomous bodies and states. This system needs to be changed because the funds were unused and lay idle in bank accounts, while the government had to borrow and incur interest. As a result, TSA was designed.

According to an International Monetary Fund (IMF) working paper, the TSA is a unified structure of government bank accounts that gives a consolidated view of government cash resources. Based on the principle of one treasury and one treasury, a TSA is a bank account or a set of linked accounts through which the government makes all its receipts and payments. The principle of unity derives from the fungibility of all species, regardless of their end use. Although it is necessary to separate out individual cash transactions for control and reporting purposes, this is achieved through the accounting system and not by holding/depositing cash in transaction-specific bank accounts. This allows the Treasury to decouple liquidity management from transaction-level control.

Published on

June 07, 2022

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