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Tag Archives: money

Analysis: Mississippi in line for savings account boost

JEFF AMY Mississippi may be making its first big deposit into its savings account in several years, but state government is still lacks enough savings to ride out a substantial downtown in revenues. The Department of Finance and Administration is still in the process of closing the books on the year ended June 30, but spokesman Chuck McIntosh said the ...

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Mississippi city wrestles with budget problems

A Mississippi city is wrestling with budget problems after an audit showed a $14 million shortfall. WLOX-TV reported that Pascagoula Mayor Dane Maxwell said he’s working with the governor, the lieutenant governor and the state auditor on how to deal with the money problems following the release of a forensic audit. Maxwell says the focus is on making sure that city ...

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MATTHEW McLAUGHLIN — Show me the money

Having served as lead, co-, or local counsel on greater than $10 billion in debt and equity financings, I have experienced transactions that have closed relatively smoothly and I have also seen transactions fall apart at the closing table. Regardless of whether your company is raising debt or equity, there are some common themes and best practices that business owners ...

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Analysis: Gambling not a clear-cut state budget booster

Will Mississippi take a chance on a lottery? It’s a big question lawmakers could answer if Republican Gov. Phil Bryant calls them into special session in the next few weeks. Officials are looking for ways to generate about $200 million a year to pay for improvements to highways and bridges. Bryant says he will call a session sometime in August ...

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Analysis: Even modest revenue growth good news for lawmakers

End-of-the year revenue collections suggest Mississippi’s lawmakers could have a little extra money to spend when they return for their election-year session in January 2019. Preliminary numbers released by the Legislative Budget Office show that thanks to strong May and June collections, the state’s General Fund ended $88 million over the level that budget writers had estimated back in the ...

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SPENCER RITCHIE: Political contributions: Know your limits

In Mississippi, every year is an election year. This election year, however, is shaping up to be one of the most memorable in the state in decades. Many Mississippians will seek to play an active part in these elections by contributing to campaigns and political parties. Such contributions are subject to federal and state campaign finance laws. Below is a ...

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State revenue collections take March downturn

State revenue collections, after multiple months of strong growth, took a nosedive in March. For the month, revenue collections were $46.7 million, or 10.4 percent below the estimate. For the fiscal year, which ends June 30, collections are $12.3 million or 0.33 percent below official projections, according to the report compiled recently by the staff of the Legislative Budget Committee. ...

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New law lets Mississippi invest in bonds issued by Israel

A new Mississippi law will allow the state treasury to invest up to $20 million in bonds issued by Israel. Republican Gov. Phil Bryant, who has traveled to Israel several times, signed Senate Bill 2051 Tuesday. The law takes effect July 1. It will authorize Mississippi to use excess general funds to invest in Israeli bonds. Investments must be made in U.S. ...

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Budget work completed, session nearing end

The Mississippi Legislature finished work Tuesday on its $6.1 billion budget when legislation passed both chambers to set parameters on the state’s Medicaid program. With the budget completed, only a few items remain to be finished during the 2018 session, which could end as early as today. The state House was holding final passage of the budget for the Division ...

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