Johnson County Fair canceled due to COVID-19

The Johnson County Fair will have to wait until next year. The Executive Fair Board made the decision to cancel this year’s festivities, according to a post shared on the Johnson County Fair Facebook page. “After extensive planning, consultation and due to circumstances outside of our control, the Executive Fair Board regrets to report that the 2020 Johnson County Fair arena events, carnival, parade and public events are canceled,” the post reads. 4-H projects, youth livestock show and livestock auction will continue to take place with details released at a later date.
(Read more: fox4kc.com | FOX 4 – WDAF)

Ranson Financial2020-07-15T08:32:36-05:00July 14, 2020|News|

Textron Aviation reducing workforce by 800

Textron Aviation today announced its reducing its workforce by 800 employees, with the majority of the job losses happening in Wichita. A statement from Textron said the cuts include layoffs and additional periodic furloughs that will last through the remainder of 2020. Textron Aviation blames the cuts on existing market conditions and “evolving global economic uncertainty.” Textron Aviation has approximately 9,000 workers in Wichita.
(Read more: KAKE – News)

Ranson Financial2020-07-15T08:33:37-05:00July 14, 2020|News|

North Newton passes mask ordinance

North Newton will become the first community in Harvey County to mandate residents wear masks in public and within businesses. The council voted 5-0 Monday night to pass a mask mandate. “It is very similar to the one that was passed by the City of Wichita,” City Attorney Greg Nye said. The ordinance is also similar to the one the Newton City Council did not pass. The ordinance requires people to wear masks in public spaces when they are unable to consistently space more than six feet from others. That ordinance would be extended to Bethel campus but not private homes, offices, or churches. People are also required to wear masks indoors in businesses. Businesses are required to have employees wear masks in the presence of customers, food, or in areas they cannot space by more than six feet.
(Read more: Harvey County Now)

Ranson Financial2020-07-15T08:34:01-05:00July 14, 2020|News|

Competitive Bidding Leads to Better Pricing on Municipal Bonds

The Municipal Securities Rulemaking Board (MSRB) today published research findings on the pricing benefits of increased competitive bidding activity in the municipal securities market. …
“Given the scant research on this matter to date, we aimed to explore if higher numbers of competitive bids lead to better pricing terms for issuers,” said Wu. “Our findings confirmed our expectations. We found that as competitive bidding activity increased, the primary offering spread of the winning bidder declined. In other words, the more competitive bids an issuer received during the primary offering process, the more favorable their selling price and yield cost tended to be.” The MSRB examined the competitive bidding activity in the municipal securities market during the primary offering process over the 10-year period from 2009 through the first half of 2019. The MSRB found that the average number of competitive bids received gradually increased over the past 10 years, from an average of 4.4 competitive bids per issuance in 2009 to an average of 5.7 competitive bids per issuance in the first half of 2019, and that the winning bidder’s primary offering spread was negatively correlated with number of bids received.
Read the details at MSRB.
Contact our Municipal Bond Advisors at Ranson Financial Group to seek competitive rates on your next bond issue.

Ranson Financial2020-07-14T08:16:20-05:00July 14, 2020|News|

Wichita hospitals could hit capacity this month with COVID-19 patients, mayor says

Wichita hospitals could hit their capacities this month as the number of COVID-19 patients surge, the mayor said Monday. Mayor Brandon Whipple’s warning comes as the Sedgwick County Health Department reports that “both hospitals,” presumably Wesley Healthcare and Ascension Via Christi, are converting rooms to intensive care units. But that action reduces the capacity for other patients.
(Read more: Local News | Wichita Eagle)

Ranson Financial2020-07-14T07:56:24-05:00July 14, 2020|News|

Municipal Bond Trends for July 13, 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.

Ranson Financial2020-07-14T07:55:14-05:00July 14, 2020|News|

Kansas State Fair canceled amid virus concerns

There will be no Kansas State Fair in 2020. The state fair board voted to cancel this year’s event amid concerns surrounding the coronavirus pandemic. The reversal comes just a week after the board had initially voted to continue with the fair. However, concerns from vendors and the community led them to adjust plans, with nearly half of the vendors cancelling amid worries about delays with travel quarantines, difficulties in putting crews together and the cancellations of other fairs, including Texas, Oklahoma and Nebraska. The board says it is still interested in finding a way to safely hold its livestock and 4H event. Riley County Extension Director Gary Fike announced last week that most activities at the Riley County Fair had been switched to a come and go format, including the cancellation of its 4H exhibit in addition to the cancellation of the carnival and Kaw Valley Rodeo.
(Read more: 1350 KMAN)

Ranson Financial2020-07-14T07:52:47-05:00July 13, 2020|News|

Tax revenue increases despite pandemic

Despite dire predictions regarding tax collections due to the COVID-19 lockdown, both Edgerton and Gardner have seen an increase in sales tax revenues year to date. “After all the doom and gloom that was predicted, it’s a pleasant surprise to see sales tax collections coming in above last year’s numbers,” said Karen Kindle, Edgerton finance director. “As essential businesses, LPKC played a significant role as the largest contributor of city sales and keeping the Edgerton economy running. We’re in good financial shape, but we will continue to monitor these revenue sources and make changes if needed.” Gardner has also seen an increase in sales tax revenue. “Gardner’s two largest sales tax generators are Walmart and Price Chopper,” said Matt Wolff, Gardner finance director. “Most grocery stores have seen an increase in sales during the pandemic. …”
(Read more: Gardner News)

Ranson Financial2020-07-14T07:53:10-05:00July 13, 2020|News|

K-State Announces Budget Cuts, Furloughs

Multiple Kansas State University colleges and units will implement administrative furloughs as one of several ways the university is addressing financial challenges for the upcoming fiscal year. The financial challenges are the direct result of the impact of the COVID-19 pandemic. K-State President Richard Myers outlined steps the university is taking to reduce nearly $37 million in costs, including the administrative furloughs, terminating and eliminating positions, voluntary salary reductions, using cash reserves, and cutting operating expenses. Coupled with the emergency furloughs the university administered in May and June, 1,868 employees will be affected. The furloughs will provide the university with $8.65 million in short-term cost reductions.
(Read more: WIBW News Now)

Ranson Financial2020-07-14T07:53:49-05:00July 13, 2020|News|

Draft of School COVID-19 Regulations for Fall Released

Draft safety guidelines for school this fall from the Kansas State Department of Education say students, teachers, and staff should wear masks, but that students up to fifth or sixth grade shouldn’t be required to wear them unless local officials mandate it, the Kansas City Star and Wichita Eagle are reporting. The draft guidelines about how to reopen schools amid the COVID-19 pandemic were shared with superintendents, and are expected to be formally presented to the State Board of Education this week. The guidelines say everyone should wash their hands when arriving at school and every hour afterward. Space should be made in classrooms to allow social social distancing. Locker use is discouraged, and staggered transition time between classes is recommended for those schools that choose to use them.
(Read more: WIBW News Now)

Ranson Financial2020-07-14T07:53:57-05:00July 13, 2020|News|