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Twitter By admin – June 14, 2018 Odessa sales tax growth outpacing Midland Ector Restaurant Report Logo.jpg Soaring sales tax revenue collected by the City of Odessa in June topped Midland for the fourth consecutive month — an unusual trend likely resulting from Odessa’s robust oilfield services sector.The City of Odessa received a June sales tax check from the state of more than $5.5 million, more than 49 percent greater than the payment during the same month last year. A fifth of the city’s sales tax revenue, or more than $1.4 million, goes to the city’s Odessa Development Corporation for economic development. More than $4.4 million will go to the city’s general spending fund.The windfall, which outpaces a record-setting 2015, enables the city to shore up reserve funds and consider new projects as demand for services increases during the oil boom.Midland has also enjoyed several months of sales tax revenue growth — just not like Odessa. This month, Midland collected more than $5.1 million. That was a nearly 16 percent increase from June 2017 for the Tall City, which has the same 1.25 percent sales tax rate as the City of Odessa.Midland has a higher median income and significantly greater property tax base than Odessa. It’s also home to more oil company headquarters.But the explanation for Odessa’s greater sales tax windfall is a simple one: the oilfield services sector that is driving Odessa’s booming economy.“We have the service companies in Odessa and Midland doesn’t have as many there,” said Wes Burnett, director of economic development at the Odessa Chamber of Commerce. “Those guys charge sales tax on everything they do.”That includes equipment, such as pipe or parts, and time. Such business-to-business sales in the oilfield are driving the influx of sales taxes into local government coffers.“A lot of that activity is in Ector County,” said economist Ray Perryman of the Perryman Group. “Midland has more headquarters and office operations. A lot of people don’t realize that about half of the sales tax in Texas is paid by businesses.”At the same time, Odessa’s retail sector has been strong with new outlets and restaurants, Perryman said. The Ector County Hospital District has also seen growth in sales tax revenue this year and received a June sales tax check of more than $4.1 million, which is more than 37 percent greater than during the same period of last year.The sales tax windfall now exceeds what City of Odessa budget writers predicted for this point in the fiscal year by more than 65 percent — or more than $15 million. The city budgeted about $30.7 million in sales tax revenue for the fiscal year ending Sept. 30.In the coming months, city leaders will craft a budget and consider funding one-time expenses such as manning an additional ambulance or two, Interim Assistant City Manager Cindy Muncy said. Mayor David Turner cited a need for more ambulances during his State of the City address in April, citing surging demand.The Odessa City Council will also likely consider pay increases for employees, which are usually awarded at 3 percent in years when the city can afford it.“We stay pretty conservative with our projections going forward, but we are looking at pay increase, trying to hang on to good people with what’s going on in the oilfield,” Muncy said.CHECKS ISSUED IN JUNE COMPARED TO THE SAME MONTH OF 2017Alpine: $132,078.13, up 4.21 percentAndrews: $537,323.09, down 0.4 percentBig Lake: $273,543.66, up 54.18 percentBig Spring: $256,652.59, up 4.32 percentCrane: $48,097.36, up 21.96 percentFort Stockton: $327,244.08, up 21.94 percentGoldsmith: $8,863.88, down 0.47 percentGrandfalls: $3,930.49, down 10.33 percentKermit: $240,651.02, up 117.07 percentLamesa: $116,037.59, down 0.69 percentMarfa: $42,381.70, up 57.41 percentMcCamey: $37,306.73, down 33.05 percentMidland: $5,102,298.67, up 15.89 percentMonahans: $363,111.87, up 29.06 percentOdessa: $5,545,957.30, 49.18 percentPecos: $1,036,286.20, up 87.28 percentPresidio: $29,651.08, up 3.8 percentPyote: $13,950.35, up 286.95 percentRankin: $14,524.18, down 21.93 percentStanton: $75,095.85, up 55.25 percentToyah: $1,941.09, down 31.53 percentWickett: $37,764.58, up 395.14 percentWink: $56,774.68, up 55.61 percentMore InformationTexas Comptroller monthly sales tax allocations. Local NewsGovernment Facebook Previous articleJUNETEENTH: Danny R. Wright Basketball Tournament brings families togetherNext articleOPD searching for 7-Eleven robbery suspect admin Pinterest Pinterest Twitter Facebook WhatsApp WhatsApp
When you live in an older house, where the layout doesn’t really work for the way you live your life and there aren’t enough closets to satiate your wife’s shoe fetish, maybe it’s time to modernize! But do you knock the whole house down and start again? Maybe it’s tempting but, what about the investment that you’ve already made in your home? The bathroom you had refitted last year or the wiring you had redone? And where are you going to live during the whole inevitably elongated process?It’s similar when you want to modernize your IT infrastructure: you have money sunk into your existing technology – probably still amortized for a year or two into the future – and you don’t want to face the disruption of completely starting again. We call this investment hangover ‘tech debt’.For many companies, this debt includes a strategy for data storage that takes advantage of a shrinking per-gig cost of storage that enables them to keep everything. And that data is probably stored primarily on spinning disk with some high-availability workloads on flash in their primary data center. The old way of doing things was to see volumes of data growing and address that on a point basis with more spinning disk.But, just like the house we mentioned earlier, data centers are bursting at the seams and it’s now time to modernize – but how?The first step is to get smart. Do you need more space or do you need to de-clutter? At EMC World today, we launched EMC Enterprise Copy Data Management (eCDM), a new tool to help our customers manage the spiraling volume of copies of data that businesses are creating, which drives storage costs through the roof. In fact, this is forecasted to be a $50B business problem by 2018. Backup, disaster recovery, long-term retention, local recovery, sandboxing, patch testing, test/dev, analytics; there are so many reasons for creating copies of data in today’s businesses – but what happens to the data once it’s served its purpose? And is the data you still need on the right platform to meet SLOs efficiently and cost effectively? EMC eCDM helps customers make sure they have the right number of copies of data, in the right place and on the right storage platform across all data centers.But which storage platform is that? This is the year of all flash, part of the foundation for a modern data center – and the second step is to modernize storage platforms. In 2014, we revolutionized our enterprise storage platform with the launch of VMAX3, separating hardware from the software that powers it and also launched XtremIO as our first purpose-built all-flash array. Earlier this year, we extended our leadership position in flash by introducing VMAX All Flash. Redesigned for all flash, and now the biggest all-flash array on the planet, VMAX offers a simplified process for purchasing, configuring and migrating to all-flash arrays. Today, we launched EMC Unity to bring all of those benefits to SMEs and Enterprises with midsized IT needs too.Unity sets a new standard for simple, modern, flexible and affordable arrays and is the first storage solution for midsized IT to be available as a purpose-built all-flash or hybrid storage array, a software-defined virtual appliance and as a converged solution as part of a VCE Vblock.This changes everything for our SME customers. But we’re not expecting them to rip and replace their entire storage network. EMC customers can non-disruptively migrate to Unity, balancing their storage media against its SLOs.So, while it can be tempting to look at a storage infrastructure that no longer meets your needs and chant ‘tear it down!’; it’s not always possible, it’s not always practical, and it’s certainly no longer necessary!
Reps. Stephen Fincher, R-Tenn., Denny Heck, D-Wash., and Bill Posey, R-Fla., Monday introduced a NAFCU-sought, bipartisan bill that would require NCUA to conduct a study on the appropriate capital requirements for credit unions before implementing its second risk-based capital proposed rule.The “Credit Union Risk-Based Capital Study Act of 2015” would require NCUA to study and report to Congress on whether the agency has the clear legal authority to issue a two-tier proposal, how RBC2 compares to bank capital requirements, the rationale behind the risk-weighting used by the agency and the impact the proposal will have on credit unions’ capital cushions. The agency would not be able to finalize or implement RBC2 before 120 days after the report goes to Congress.NAFCU President and CEO Dan Berger praised the lawmakers’ effort to address serious concerns about RBC2. “NAFCU applauds Representatives Fincher, Posey and Heck for their work in putting together a bipartisan response to this issue,” Berger said. “We appreciate the congressmen’s recognition of RBC2 as a serious and potentially troublesome proposal and their efforts to prevent the growth of excessive regulatory burden on an already well-capitalized industry.”NAFCU Vice President of Legislative Affairs Brad Thaler also wrote House Speaker John Boehner, R-Ohio, and Minority Leader Nancy Pelosi, D-Calif., to urge House members to support of H.R. 2769. Thaler noted that the proposed rule has prompted 2,167 comment letters and that there are a “myriad of significant concerns” about the proposal. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
Goa: FC Goa defeated Chennaiyin FC 3-0 in their opening game of the Hero Indian Super League 2019-20 season at the Jawaharlal Nehru Stadium in Goa on Wednesday. The ISL runners-up were a step ahead of their opponents in all areas of the field and were the better team overall. New signing Seiminlen Doungel scored on his debut to break the deadlock in the 30th minute. All-time ISL top-scorer Ferran Corominas struck in the 62nd minute and substitute Carlos Pena added a third in the 81st minute to get the better of an unimpressive Chennaiyin. The hosts were quick to get on the ball and spray passes around right from the start. However, it were the visitors who first went close when Dragos Firtulescu was fed through on goal in the 12th minute. A last-ditch Seriton Fernandes challenge prevented a catastrophic start for the hosts. Sergio Lobera’s men soon regained their rhythm to pose a serious threat to the Chennaiyin defence. In the 19th minute, Ferran Corominas picked up the ball from midfield and released Seiminlen Doungel into the box.Chennaiyin goalkeeper Vishal Kaith was on to the ball in a flash before Goa’s new signing could pounce and take a shot. A minute later, Manvir Singh attempted a powerful strike after making room for himself at the edge of the box and once again, Kaith was up to the task, pulling off a diving save to his left. Goa’s intent in the attacking third was rewarded at the half an hour mark. Manvir Singh beat his marker and crossed into the box from the right flank. The striker’s cross took a double deflection off Eli Sabia and Doungel before rolling into the net. The hosts remained on top of the game and refused to sit back after taking the lead. Brandon Fernandes’ piledriver just before half-time had Kaith well beaten but the ball flew just wide. Ferran Corominas’s curling effort a minute later was tipped away by an acrobatic Kaith who kept Chennaiyin in the game. John Gregory replaced Dhanpal Ganesh with the more creative Anirudh Thapa in midfield to swing the contest back in his team’s favour. The hosts, however, proved difficult to break down. Goa continued to create chances and soon doubled their lead. Manvir Singh broke away through the middle and found Jackichand Singh in space to his right. The winger’s low cross into the center of the box was guided into the net in by ISL’s all-time top scorer Corominas, who scored his 35th league goal. Chennaiyin struggled in the attacking third and were unable to find a way back into the game.Also Read | Indian Super League 2019: Kerala Blasters Beat ATK, Bartholomew Ogbeche Scores TwiceLallianzuala Chhangte did have a chance to pull one back when he tried to curl the ball into the top right corner from the edge of the box, but Mohammed Nawaz produced a brilliant save to preserve Goa’s clean sheet. FC Goa added a third in the 81st minute and sealed the win when a Brandon free-kick from the left was poked into the net by Carlos Pena at the near post. For all the Latest Sports News News, Football News News, Download News Nation Android and iOS Mobile Apps.