GOP, Dems began to spar over school funding
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- Published on 01 March 2016
By Mark Fitton
Illinois News Network
SPRINGFIELD — The debate over how to fund Illinois public schools began in earnest Tuesday, with Democrats questioning Republican Gov. Bruce Rauner’s plan for funding pre-kindergarten through high school education.
Tim Nuding, the governor’s budget chief, and Beth Purvis, his lead education adviser, pitched the plan to a Senate appropriations committee. They said the governor's plan would:
* Increase the state’s overall spending on primary and secondary education.
* Provide general state aid at the foundation level, or minimum recommended amount, of $6,119 per student. That would be the first time in seven years the state has met the mark.
* Pump an additional $75 million into early childhood education.
State Sen. Andy Manar, D-Bunker Hill, was among Democrats who questioned both the methods the administration used to reach its numbers and whether the proposal is ultimately fair to the state’s poorest schools.
“I’ve said publicly that’s a very good step forward, but I also think we’d be doing a disservice if we didn’t have a conversation about the fact that a foundation level of $6,119 for a district that has 99 percent poverty shouldn’t be the same as a foundation level for a district that has 4 percent poverty,” Manar said.
“That is the law today, and that needs to be changed because the expectations for both of those districts is the same, but we treat them differently,” he said.
The governor’s aides said Rauner is proposing using the existing state aid formula partly in an effort to get the most help to the most school districts and most students as soon as possible.
“I think the governor’s been very clear,” Nuding said. “He’s willing to talk about a formula rewrite or education-funding reform, but to say that this current formula doesn’t at least move in that direction – I would characterize that as inaccurate. I think it does to at least some degree.”
Primary and secondary education account for $6 billion to $7 billion of the state’s general-fund spending, Nuding said, and the governor feels so strongly about education he’s willing to move on it first and address the rest of the state budget later.
“What we’re saying is, this is what the governor supports,” Nuding said. “It’s the first $7 billion off the top of the $33 billion we’re going to bring in, [so] let’s do it and then let’s figure out the rest of it.”
Sen. Heather Steans, D-Chicago, said that didn’t seem to fit with the governor’s budgeting stances to date.
“So, in fact, we would be sort of adding … additional spending without doing anything on the revenue side, which seems pretty inconsistent with the discussion we’ve been hearing around MAP grant funding, for example,” Steans said.
MAP grants, essentially college tuition assistance, seem consistent with the governor’s theme of offering educational opportunities, yet the governor hasn’t seen fit to fund them, Steans argued.
“I don’t understand the inconsistency, frankly,” she said.
Nuding said the administration has proposed higher-education funding options, including for Monetary Award Program, or MAP grants, for fiscal year 2017, but Democrats so far simply haven’t liked the choices.
And he argued the money Steans was discussing was for fiscal year 2016, which is now nearly two-thirds completed.
“Candidly, there’s no appropriation and no money for higher ed because it all got spent,” Nuding told the committee.
Sen. Matt Murphy, R-Palatine, was among GOP senators who expressed concern over suggestions that categorical grants, such as for special education, be stripped from the school-funding package and applied elsewhere in an attempt to bolster high-poverty districts.
Those grants are “really the only money we get [from the state], for the most part,” he said of many suburban districts.
Nuding and Purvis said the governor’s office is well-aware of Illinois’ overreliance on property taxes and its negative impact on poorer school districts.
With that said, however, the administration believes full funding of the state aid formula is the best way to immediately help the most students.
The governor also is “concerned about moving large chunks of money away from some school districts to other districts because of the political realities. That makes a plan very difficult to pass,” Nuding said.
The governor’s proposal for primary and secondary education will return to hearings next week, when the Illinois State Board of Education chairman and superintendent are expected to testify.
The administration’s overall estimate for state income is likely to get more attention then, too, as the General Assembly’s bipartisan forecasting arm has that income projected closer to $32 billion than the administration’s $33 billion.
Economists for the legislative agency, the Commission on Government Forecasting and Accountability, said in a separate hearing Tuesday that although the administration’s numbers may have merit, they also hinge upon actions that may or may not to be taken by the Legislature.
Southside to get a grocery store
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- Published on 01 March 2016
- Written by Paul Gordon
Peoria's southside soon will have a neighborhood grocery store.
On Tuesday the city announced that Save-A-Lot will open this summer at the former site of Aldi's, 210 S. Western Ave.
“Prayers and wishes of the community have been answered in the form of Save-A- Lot bringing back a grocery store to the Southside. Now residents will get fresh fruits, vegetables, and meats and will not have to travel so far to shop for those items,” said Peoria City Council member Denise Moore, whose First District includes the southside.
Since the southside's last grocery closed more than a year ago, Moore and others in the community have worked together to bring a variety of healthy food alternatives to the southside. These include the creation and expansion of community gardens and mobile food distribution vans.
Save-A-Lot stores, which average about 15,000 square feet, delivers a carefully selected assortment of 1,200 to 1,500 of the most popular, in-demand everyday grocery essentials, including farm-fresh fruits and vegetables, USDA-inspected meats and a mix of national and highquality exclusive brands produced exclusively for Save-A-Lot by many of the country’s leading food manufacturers, the city said in a news release.
Save-A-Lot shoppers enjoy easy savings up to 40 percent when compared to conventional grocery stores– without sacrificing quality, it said.
“Save-A-Lot is committed to offering fresh produce, dairy and USDA-inspected meat, as well as other essential grocery and household items to shoppers at an affordable price — typically up to 40 percent less than traditional grocery stores,” said Chon Tomlin, Save-A-Lot spokesman. “We are looking forward to becoming part of the Peoria community.”
Save-A-Lot, which operates a store at 4425 N. Prospect Road in Peoria as well as one in Pekin, also shares community commitment to the environment with efficient operations, reduction of excess and productive use of our resources. This includes operating 17 strategically located distribution centers which reduces fuel and energy costs.
Also, Save-A-Lot recycles paper, plastic, cardboard box and aluminum and supports a green culture with our associates in our offices, stores and distribution centers. Save-A-Lot is also committed to the procurement of locally grown produce in several distribution centers, reducing the impact of shipping product across the country and supporting local farmers.
What and who will win Oscars this year?
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- Published on 26 February 2016
- Written by Tim Wyman
Female business owners say insurance is important
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- Published on 29 February 2016
- Written by PRNewswire
Women have made great strides in the business world in the past few decades. And business insurance is essential to protecting their hard-earned capital, according to the Insurance Information Institute.
Forty years ago women owned just 5 percent of all small businesses in the United States. Today, they own one-third, generating nearly $1.5 trillion in revenue and employing more than 7.9 million people. Between 1997 and 2015, the number of women owned firms increased by 74 percent, according to the 2015 State of Women-Owned Businesses Report. And the majority of new women-owned firms launched in 2014 were owned by minority women.
"Whether launching a new business, growing your business or competing in the global marketplace, it is essential that women business owners get the right type and amount of coverage," said Loretta Worters, a vice president with the I.I.I. "Without adequate insurance, a natural catastrophe, employee lawsuit or even the death of a business partner could destroy what they've built," she warned.
In recognition of Women's History Month, the I.I.I. recommends the following six strategies to ensure that your business is financially protected:
1. Assess your risks. What business property, including inventory and equipment, do you own? Do you have employees? What is the nature of your business? This basic snapshot will help an insurance professional provide recommendations about the type of coverage your business needs.
2.Find the right insurance professional. When shopping for insurance most business owners use an insurance broker—you'll want to find one who is familiar with the risks of your specific business. A qualified broker can help collect all the necessary information and paperwork to apply for a policy, and comparison shop among several options and quotes. Here are some tips for finding the right fit: Finding the Right Insurance Professional for Your Business.
3.Compare rates. As a general rule, you'll want to get business insurance quotes from at least three different companies. Try to find policies that offer similar coverage so that you can clearly compare prices.
4.Evaluate insurers, policies and services. When purchasing business insurance, price is just one consideration. Make sure a potential insurer is reputable and in good financial condition. In addition, review and compare policies in depth. Does one policy have exclusions that another does not? In the case of litigation, does the insurer provide an attorney or reimburse you for an attorney you choose?
5.Lower your premiums. Choosing a higher deductible can lower your premiums significantly and insurers will often lower your rates for putting in place programs to minimize losses from fire, theft and employee and customer injuries. This is particularly important for start-ups that are low on initial capital.
6. Review your risks and insurance policies annually. Talk to your insurance professional prior to renewing your coverage each year to determine what adjustments should be made to your business insurance policies. If your business is expanding, you have purchased or replaced equipment or have started working with vendors internationally, you may have new liabilities that require higher insurance coverage.
Don't Overlook These Coverages
Life insurance is vital to any business—both personal and for the company. Should you die prematurely, a personal life insurance policy can replace your income from the business and protect your family. In the event an owner, partner or key employee dies, life insurance will take care of your business.
Another key coverage is disability insurance. More than twice as many people will be disabled during their career as will die before they retire. "Income protection for small business owners is critical for the long-term security of the owner and the company if they cannot work due to an injury or illness," said Worters.
Find more information about protecting your business, in the business insurance section of the I.I.I.'s website.
Most plan to be responsible with tax refund
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- Published on 23 February 2016
- Written by PRNewswire
Three out of every four people who expect income tax refunds this year say they will save the money or use it to pay off some debt.
Those were the results of a survey conducted by personal finance website GOBankingRates.com. Using a Google Consumer Survey, GOBankingRates.com asked 5,000 respondents, "What do you plan on doing with your tax refund?" The response breakdown is as follows:
- I do not receive a tax refund — 30%
- Pay off debt (loans, credit cards, etc.) — 27%
- Put in savings — 25%
- Put toward a vacation — 9%
- Make a major purchase (car, home, etc.) — 5%
- Splurge on a purchase (TV, shoes, etc.) — 4%
The answer choices were displayed randomly and respondents were limited to one response each. The percentages above and all further survey analysis excludes the 34.8 percent of respondents who chose "none of the above."
"Tax refunds are income that falls outside of Americans' typical paychecks, so even though it's earned and well-deserved, there is definitely a temptation to view it as 'free money' that can be splurged or even wasted," said Elyssa Kirkham, the lead GOBankingRates finance reporter on the study.
"It's really encouraging to see, however, that most people are planning to use a tax refund to better their financial situation by saving or paying off debt," she said. "Using a tax refund this way will buy the taxpayer more financial security and peace of mind, instead of a one-off splurge that soon loses its value or is forgotten."
Additional Findings:
- Only one in five Americans plans to spend tax refund money.
- Older respondents are twice as likely to not expect a tax refund as their younger counterparts.
- Respondents ages 18 to 24 are over twice as likely as baby boomers to splurge or make a major purchase with their refunds.
- Of those expecting a tax refund, women selected "pay off debt" 20 percent more frequently than men did.
For more insights on the survey findings, visit:
http://www.gobankingrates.com/personal-finance/first-thing-americans-do-tax-refund/
