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Tag Archives: money

SEC announces average payout of $44.6 million per school

The Southeastern Conference schools each received more than $44.6 million in total revenue distributed by the league, a seven-figure increase from the previous fiscal year. SEC Commissioner Greg Sankey said Thursday the league handed out just over $651.0 million of total revenue among the 14 members for the 2018-19 fiscal year, which ended August 31, 2019. That’s up from $627.1 ...

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Mississippi working to cover full cost of teacher pay raise

Mississippi lawmakers are working on funding the final portion of a pay raise that teachers started receiving this school year. The $1,500 raise was approved during the 2019 legislative session, but officials later discovered a bureaucratic error. Because of the way some school districts keep records about certain categories of teachers, too few teachers were counted in the total cost ...

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SHAD WHITE — A critical moment for Mississippi’s economy

Today, maybe more than any time in our recent history, Mississippi faces fundamental questions about where our economy is headed. How we answer those questions is going to determine whether we succeed, like some of our surrounding states, or whether we become a rural Detroit. That’s the conclusion I’ve reached after watching our economy my entire life—from doing the books ...

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Tax from internet sales growing, but state getting less

By BOBBY HARRISON / Mississippi Today Since a June 2018 U.S. Supreme Court ruling allowing states to collect taxes on internet sales, Mississippi’s use tax collections have steadily increased.   Still, state Economist Darrin Webb and Mississippi’s other financial experts are projecting use tax revenue going to the general fund for core state functions such as education, law enforcement and ...

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Mississippi budget plan: Spend slightly less in coming year

Mississippi legislative leaders are recommending that the state spend slightly less money during the coming year than during the current year. Members of the Joint Legislative Budget Committee met Wednesday and adopted a broad outline for a nearly $6.3 billion budget for the year that begins July 1. That would be nearly $94 million less than the state is set ...

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Business partner acquitted in $85M Mississippi Ponzi scheme

The former business partner of a Mississippi man convicted of running a Ponzi scheme in which investors lost more than $85 million has been found not guilty of assisting in the crime. Jurors acquitted William McHenry, 72, of securities and commodities fraud and wire fraud charges Thursday in federal court in Jackson. Prosecutors had argued McHenry recruited investors for Arthur ...

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PHIL HARDWICK — Replacement reserves applies to everyone

Several years ago, an acquaintance purchased an apartment complex near the downtown area. It was built 20 years earlier at a time when it was the place to be for renters who worked downtown. He was a successful medical professional, and the apartment complex was his first investment. He remarked that he got a good deal, which was important to ...

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Former clerk for Mississippi town arrested for embezzlement

RALEIGH — A former clerk for the Mississippi town of Raleigh has been arrested on an embezzlement charge. Attorney General Jim Hood, in a news release Thursday, said 57-year-old Helen Bounds, of Mize, surrendered to authorities Wednesday following an indictment by a Smith County grand jury. Bounds is accused of converting to her own use excessive multiple and single monetary ...

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BancorpSouth earns $63.8 million during third quarter

TUPELO • BancorpSouth Bank reported earnings for the third quarter of $63.8 million, or 63 cents a share. That compares to net income net income of $66.7 million, or 67 cents per share for the third quarter of 2018. For the quarter, the Tupelo-based bank had revenue off $242.03 million, a 13.2% increase compared to a year ago. Although earnings were ...

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Dueling ‘wealth tax’ plans may prompt Sanders-Warren clash

Elizabeth Warren’s call for a new 2% tax on the wealthiest Americans is so popular among her supporters that impromptu chants of “two cents” routinely surface at her rallies. But Bernie Sanders, Warren’s chief competitor for liberal voters, made clear on Tuesday he also has “a plan for that.” Sanders, a Vermont senator, announced a plan to tax the nation’s ...

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