Finance
Campaign finance complaint from Rep. Stevens on Mayors McFarland & Reed reset to May 28
The Tennessee Registry of Election Finance rescheduled agenda issue
Murfreesboro City Manager Craig Tindall to take new city job by July
Murfreesboro Mayor Shane McFarland talks about City Manager Craig Tindall taking new job as special counsel for the government by July 2.
The Murfreesboro and Smyrna mayors and a Political Action Committee will have more time to respond to a campaign finance audit and investigation request from state Rep. Robert Stevens.
The Republican lawmaker from Smyrna asked the Tennessee Registry of Election Finance in a Jan. 25 letter to examine three campaign finance accounts. The main issue pertains to a $7,500 donation from Murfreesboro Mayor Shane McFarland in November 2022 to Tennesseans For Greater Accountability, the Political Action Committee. The PAC soon donated $7,500 to the campaign account of Smyrna Mayor Mary Esther Reed, Stevens wrote in his letter Registry.
The Registry had been scheduled to discuss the request from Stevens on March 26, but Chairman Henry “Hank” Fincher with consent of his board decided to give the mayors and PAC representative Richard Cole more time to provide written responses to the lawmaker’s letter, said Bill Young, the executive director for the Registry.
The issue will be part of the Registry agenda for the 9:30 a.m. May 28 meeting at Tennessee Tower in downtown Nashville. The Stevens’ letter had suggested the $7,500 donations, from McFarland to the PAC and from the PAC to Reed, occurred “on the exact same day” on Nov. 23, 2022.
Campaign finance issue: Mayors of Murfreesboro, Smyrna face audit, investigation request by state Rep. Stevens
The PAC since then amended online records on March 14 to show that McFarland made his $7,500 donation on Nov. 15, 2022, followed by the PAC making a $7,500 donation to Reed’s campaign on Nov. 22, 2022. The Daily News Journal sent an email at 4:06 p.m. Tuesday to Cole, the PAC representative, but he was unavailable for comment.
The PAC, which lists a Murfreesboro P.O. Box for its address, also made campaign donations on Nov. 22, 2022, of $2,000 each to Smyrna Vice Mayor Marc Adkins and fellow Town Council members H.G. Cole and Gerry Short. The ending fund balance of the PAC after the donations was just over $743, according to the amended fourth quarter report for 2022.
Stevens, who’s also an attorney, sent his letter to the Registry prior to Smyrna voters considering a referendum March 5 supported by Mayor Reed on whether to eliminate a town General Sessions Court. The lawmaker’s sister, Judge Brittany Stevens, presides over the court that handles criminal cases after winning her eight-year term August 2022 when he won the GOP primary for his Tennessee House of Representatives seat.
Over 71% of Smyrna voters opposed the plan to transfer the criminal cases to General Sessions Courts based at the Rutherford County Judicial Center in downtown Murfreesboro.
Both mayors had suggested the motive of Rep. Stevens in requesting the investigations and audits was in response to Smyrna officials attempting to eliminate his sister’s General Sessions Court.
‘Citizens should be involved’: Smyrna officials divided over General Sessions Court status
Mayor Reed accuses Rep. Stevens of pursing ‘personal vendetta’
Mayor Reed responded Tuesday by emailing the following statement to The Daily News Journal:
“In 2022, I received a legal donation from a political action committee under the maximum contribution level. State Representative Robert Stevens created controversy over this donation because of the debate Smyrna had over continuing a General Sessions Court presided over by his sister, the Smyrna town judge. If voters had supported the March 5 Smyrna Referendum, his sister would not have been guaranteed another term as judge beyond 2030.
“I believe Representative Stevens is trying to use his position as state representative to weaponize a state agency against me and others because of a personal vendetta. The complaint he filed was based on inaccurate information. The record is available for all to see, and it shows that everything was done in compliance with election law.”
‘The people have clearly spoken’: Smyrna voters reject referendum to eliminate court
Mayor McFarland says his construction business partner pursued rezoning for Smyrna development before donation
The donation in question from McFarland came a couple of months after his longtime business partner Steven Dotson with DM Homes LLC won rezoning approval for a townhome project on nearly 7.4 acres from unanimous Smyrna Town Council votes that includes Mayor Reed during August and September meetings in 2022, the Murfreesboro mayor confirmed.
“I had nothing to do with the zoning,” said McFarland, adding that he avoids talking to elected officials, planning officials or city managers about any development project his construction businesses pursue. “Nobody even knew I was involved in that. I did not want to put any undue pressure on anyone.
“When construction starts, that’s when I step in.”
Complaint on management: Smyrna Judge Brittany Stevens’ lawyer demands investigation of Town Manager Brian Hercules
Mayor Reed backs McFarland’s account of development
Mayor Reed’s statement also confirmed McFarland’s account of the townhouse project.
“Regarding the development in Smyrna, it is important to note that neither the Planning Commission, nor the Town Council were aware of Shane McFarland’s involvement with DM Homes during the planning process,” Reed said. “However, irrespective of this association, the project was given unanimous support during all phases of the approval process.”
The Smyrna Town Council learned details about the DH Homes LLC plan from Rob Molchan, a landscape architect with Murfreesboro-based SEC (Site Engineering Consultants). The project involved a Cedar Grove Village plan along Chaney Road to build 61 townhomes in Smyrna by the town’s boundary that’s south of the adjacent La Vergne High School, according to public records obtained through a request from The Daily News Journal.
DM Homes LLC shares the same Murfreesboro address as Shane McFarland Construction. He and Dotson are also partners in Caroline Farms LLC, which is the owner of the rezoned Smyrna property, McFarland said.
Letter from Stevens questions also questions donations to McFarland
The letter from Stevens to the Registry also accused Mayor McFarland of violating the $1,600 limit on accepting campaign donations from individuals:
- Five individual contributions, reported by McFarland in 2022 on June 16 and June 20, to the Murfreesboro mayor of $2,500 each, which exceeds the legally permissible maximum amount by $900.
- Two individual contributions, reported by McFarland in 2022 on June 16 and June 21, to the Murfreesboro mayor of $2,000 each, which exceeds the legally permissible maximum amount by $400.
Mayor McFarland provided the previous statement about the Registry issue:
“It’s incumbent on elected officials to admit if we make mistakes, and I have made my fair share. I have always been upfront with anything I have ever done, and if I made or make a mistake, it will never be intentional, and I will own it and fix that mistake. This example is no different.”
Road planning issues: Murfreesboro mayor wants to avoid being ‘swallowed up by what Nashville’s doing’ on roads
Reach reporter Scott Broden with news tips or questions by emailing him at sbroden@dnj.com. To support his work with The Daily News Journal, sign up for a digital subscription.
Finance
What is Considered a Good Dividend Stock? 2 Financial Stocks That Fit the Bill
Written by Jitendra Parashar at The Motley Fool Canada
Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.
That’s exactly why many investors turn to financial stocks. Banks and asset managers often generate recurring earnings through lending, investing, and wealth management activities, allowing them to support stable dividend payments even during uncertain market conditions.
Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.
AGF Management stock continues to reward shareholders
AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.
Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.
One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.
In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.
AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.
TD Bank stock remains a dependable dividend giant
Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.
Finance
UK watchdog says car finance legal challenge hearing unlikely before October
Finance
Martha Aguirre, former El Paso ISD interim superintendent, resigns as CFO as district finds ‘key financial challenges’
El Paso Independent School District Chief Financial Officer Martha Aguirre, who served as interim superintendent last year, resigned this week as the district said it had discovered “key financial challenges.”
The district issued a news release late Thursday afternoon that lacked details but indicated that a recent review had raised questions about the district’s fund balances, a key indicator of financial health.
“Through this process, key financial challenges were identified that must be addressed prior to closing out the 2025-26 school year including a current budget shortfall that is being actively addressed ahead of the district’s final financial presentation to the Board of Trustees in June,” the news release said.
A CFO is charged with developing a school district’s budget and overseeing its finance department. The EPISD Board of Trustees must adopt a budget for the 2026-27 school year by the end of the fiscal year June 30. The operating budget for the current school year is $547 million.
EPISD Deputy Superintendent David Bates will oversee the budget while the district searches for an interim and permanent CFO, district officials said in a statement.
EPISD Board President Leah Hanany said trustees were notified about Aguirre’s resignation this week. She said the district plans to give the public more information on the current year’s budget during a board meeting later this month.
“The board was also notified of a potential budget shortfall for the 2025 budget, but we don’t have final numbers yet. My understanding is that we are still primed to pass a balanced budget for fiscal year 2026-27 in June,” Hanany said in a statement.
Aguirre could not be reached for comment. EPISD’s CFO makes $148,200 to $209,900 a year, according to the district’s administrative pay plan.
She served as EPISD’s interim superintendent from June to December 2025 after the district’s former superintendent, Diana Sayavedra, resigned under pressure from the board. She returned to her position as CFO when Brian Lusk was hired as EPISD’s new permanent superintendent.
Aguirre’s resignation comes amid an uncertain budget season after a state funding calculation error tied to school property tax breaks caused EPISD to lose out on $17 million in projected revenue. In late April, EPISD officials estimated it would cause the district’s spending to exceed its revenue next year by $10 million.
The district is also considering calling for a bond election in November to upgrade its aging campuses as part of the larger 2024 Destination District Redesign initiative to close schools and improve the ones that remain open.
El Paso Teachers’ Association President Norma De La Rosa said Aguirre’s departure was unexpected.
“We’re right in the middle of the committee meetings for a possible bond and getting ready to get that budget to the June board meeting for next school year. So, to say that I’m highly surprised is an understatement,” De La Rosa told El Paso Matters.
Aguirre started working with the district in 1996 as a general clerk, according to a video published by the district.
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