City finance studies 21% sewer rate hike | News

The Ladysmith Finance Committee met Aug. 17, discussing the impact a 21 percent sewer rate increase could have on customers.

Deputy Clerk/Treasurer Tony Devine presented cash flow requirements for the city’s sewer department that were prepared by April Anderson of the professional services accounting firm CliftonLarsonAllen. It summarized the cash requirements for sewer department operations, debt service and replacement of sewer department assets. 

Also included was $43,000 in “recovery” funds that are intended to replace the losses that have occurred over the last few years of operating at a deficit. Total cash requirements for a year’s operations with these assumptions is $959,701. 

In 2020 revenues from services generated $803,243, and with no significant change in sewer demand, this is expected to remain static. 

Anderson advised to cover all assumptions, a 21 percent increase would be needed.

Concerns expressed involved the impact of a 21 percent increase on customers. 

Ald. Marty

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Dark Horse CPAs Announce Hiring of Susan Snowden as Principal Accelerator | News

TUSCALOOSA, Ala., Aug. 20, 2021 /PRNewswire-PRWeb/ — Dark Horse CPAs, a top accounting and tax firm serving small businesses and individuals across the nation, announces the hiring of Susan Snowden, CPA as an Accelerator in the firm’s Principal Accelerator Program. Snowden’s extensive audit, accounting and finance experience combined with a passion for serving entrepreneurs and small businesses made her the perfect fit to be Dark Horse’s next Accelerator. In her new role, she aims to equip small businesses with deep insights into the financial performance of their business and help them create strategic financial plans to help grow their businesses and increase profitability.

Susan earned a degree in accounting from Clemson University in 1995 and earned her CPA license in 1998. Her first 18 years of her career were mainly dedicated to financial statement audits, both on the internal and external side. She then transitioned into a role

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Bueno named Finance Officer of the Year | Local News

STURGIS — Longtime Sturgis Finance Officer Fay Bueno has been named Finance Officer of the Year in South Dakota by the South Dakota Municipal League.

Her nomination came from co-workers, her staff and Sturgis City Manager Daniel Ainslie.

“There are many great finance officers in this state. I’m honored to be chosen,” Bueno said.

It’s especially meaningful that the nomination came from those people she works with every day, she said.

In addition to being an exemplary financial manager for the city, Bueno is a wonderful advocate for the city of Sturgis, the nomination letter said.

“She is a competent, capable, and knowledgeable finance officer,” nominators wrote.

Born and raised in the Black Hills, Bueno earned an accounting degree from Black Hills State University. She spent almost 15 years in the private sector before starting her municipal career as city finance officer for Whitewood. She held that position for 11

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G20 finance ministers in Venice take up global tax proposal | Business and Economy News

Finance ministers from the Group of 20 (G20) countries will push for agreement on proposals backed by United States President Joe Biden to deter tax dodging by multinational companies.

While approval of the sweeping tax package is likely at the G20 meeting Friday and Saturday in Venice, the proposals still face a key hurdle in the US Congress, where Republicans have pledged to oppose it.

Biden’s proposal for a 15 percent global corporate minimum tax resulted in a breakthrough in stalled international tax talks. An agreement was reached July 1 among 131 countries in negotiations convened by the Paris-based Organisation for Economic Co-operation and Development (OECD).

The deal aims to discourage the use of often-complex accounting schemes to move profits to where the least tax is due.

The OECD deal asks countries where companies have their headquarters to enact the minimum tax so that their companies would pay tax at

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