News – Page 1775 – Ranson Financial Group LLC

Manhattan Mayor Announces Creation of Regional Recovery Task Force

info2020-04-29T07:35:29-05:00April 28th, 2020|

Manhattan Mayor Usha Reddi announced today the formation of the Manhattan Area Recovery Task Force to help guide the City and surrounding area as we emerge from the effects of the COVID 19 virus in all areas of daily life and commerce. The charge to the Task Force is to “develop a measured and phased path forward for our community and begin implementation as soon as next week, in some areas.” Jason Smith, President and CEO of the Manhattan Area Chamber of Commerce and Bob Copple, CEO, Ascension Via Christi Hospital have been appointed to co-chair the Task Force. In organizing [...]

Municipal Bond Trends for April 27, 2020

info2020-04-28T09:47:08-05:00April 28th, 2020|

The interest rate table above illustrates recent changes in a sample of MBIS "investment grade" yields. Every issuer's credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.

Fed expands muni-debt program to cover “smaller” cities, counties (at least 500,000 population for counties and 250,000 for cities)

info2020-04-28T09:35:26-05:00April 28th, 2020|

The Federal Reserve expanded the scope and duration of the Municipal Liquidity Facility, a $500 billion emergency lending program aimed at providing short-term credit to state and local governments as they endure the economic fallout from the coronavirus pandemic. The U.S. central bank lowered the population thresholds under which counties and cities would be eligible to sell short-term debt to the facility. The new levels are at least 500,000 for counties and 250,000 for cities, down from 2 million and 1 million. “The new population thresholds allow substantially more entities to borrow directly from the MLF than the initial plan announced [...]

The Fed won’t move on rates this week, but here are some other things it could do

info2020-04-28T09:38:14-05:00April 27th, 2020|

FAfter unleashing the most aggressive programs to support markets and the economy in its history, the Federal Reserve is likely to pause any additional initiatives until it has more information about how those moves are working and what lies ahead. That does not mean, however, that central bank officials won’t have some news in store when they meet this week. In the months since the coronavirus has ripped through the nation and the world, the Fed has slashed its benchmark interest rate to near zero and launched a variety of programs that also look to get money to households and businesses [...]

As coronavirus cuts into budget, Olathe furloughs nearly all city staff for two weeks

info2020-04-28T09:41:10-05:00April 27th, 2020|

Facing deep budget cuts because of the coronavirus pandemic, the city of Olathe will furlough nearly all employees for two weeks. Like all other municipalities in Johnson County, Olathe is bracing for the long-term economic impacts of businesses, hotels and shopping centers remaining closed during the stay-at-home order. Officials expect the coronavirus shutdown to cut into sales and property tax revenues, as well as franchise fees and court fine collections. “The budget challenge the city is facing is more significant than faced in decades,” city officials said in a statement. “It will likely not only impact the 2020 approved budget, but [...]

Shawnee Mission closes all school fields after repeated COVID-19 rule violations

info2020-04-28T09:41:18-05:00April 27th, 2020|

Even after the Shawnee Mission school district threatened to issue citations to people who violate social distancing rules on its athletic fields, large groups continued to congregate and play sports, officials said. Now, the district has closed all of its fields. “Several attempts were made to find a compromise to allow use of the fields while also strictly following personal distancing and other health guidelines,” district officials said in a news release. “Unfortunately, the district continued to experience repeated violations of those guidelines, as well as attempts to circumvent the spirit of the guidelines by organized groups.” The district’s fields and stadiums had [...]

University of Kansas announces pay cuts among top officials

info2020-04-28T09:42:01-05:00April 27th, 2020|

The University of Kansas is temporarily slashing the pay of high-ranking administrators and athletic staff in anticipation of the coronavirus causing tens of millions of dollars in financial losses. Chancellor Douglas Girod announced Monday that the school will save $853,000 by cutting the salaries of nearly 40 university leaders by 10% for six months. The salaries of men’s basketball coach Bill Self, football coach Les Miles, and Athletic Director Jeff Long also will also be slashed by the same percentage, generating $500,000. (Read more: 1350 KMAN)

Will students show up for college in fall 2020? Community colleges offer a hint. It isn’t pretty.

info2020-04-28T09:42:29-05:00April 27th, 2020|

Ask a community college president about what school will look like in the fall and be prepared for an eye roll, lots of shrugging and even a baffled look or two. They’ve got no clue, really. That’s not their fault. In the coronavirus era of rapidly changing information and restrictions, the presidents have no idea what they’ll be allowed to do, much less how they are going to instruct students. “That will be the million-dollar question. I’m not sure we know yet,” said Martha Parham, the senior vice president for public relations for the American Association of Community Colleges. “A lot depends on how the economy [...]

Gov. Laura Kelly to unveil recovery plan Thursday as Kansas surpasses 3,000 COVID-19 cases, up to 120 deaths

info2020-04-28T09:43:03-05:00April 27th, 2020|

Gov. Laura Kelly said Monday Kansas should expect more guidance on Thursday on how the state will emerge from a stay-at-home order. The governor said she's been in talks with industry leaders and neighboring states to develop a recovery plan for Kansas. "We’re working with everybody across the state of Kansas that we can, so when we put the plans out, they would have provided us input, but they’ll also know what to anticipate, and can work accordingly," said the governor. (Read more: KWCH News)

Dodge City Commissioners to cut own salaries

info2020-04-28T09:43:57-05:00April 27th, 2020|

Budget adjustments were the talk of the recent Dodge City commission meeting as it is estimated $3 million would be lost from the 2020 budget for the city. According to city officials, city administration and staff are taking steps to adjust the budget in response to the COVID-19 pandemic with substantial cuts needing to be made to account for the shortfall in expected revenues. “Even with all of the cuts on the expenditure side of the ledger, we were still short over $700,000 in cuts that needed to be made,” city manager Cherise Tieben said. “Because we function on very tight [...]