Finance
Floridians see personal finance class requirement as a positive for students
Residents throughout north central Florida are optimistic concerning the potential impacts of a brand new regulation requiring a private finance class for commencement.
Gov. Ron DeSantis not too long ago signed the measure that can require highschool college students to finish a half credit score course on private finance earlier than commencement.
The regulation seeks to rectify an absence of economic literacy within the state, in addition to put together college students for the tough financial challenges which will lay forward. The requirement will take impact for ninth grade college students coming into the 2023-24 faculty 12 months.
“I feel I may have used a category like this in highschool,” Jenn Pearce, a resident of Putnam County mentioned. “Once I received out of highschool, there was no monetary class that ready me for the actual world. I struggled. I received into numerous bank card debt. I received audited as soon as in my 20s as a result of I messed one thing up in my taxes. It was numerous trial and error.”
Based on the regulation, the brand new private finance class would educate monetary abilities corresponding to balancing a checkbook, finishing mortgage purposes, computing rates of interest, contesting incorrect billing statements and computing federal revenue tax. It additionally requires instruction about understanding varieties of investments and varieties of financial institution accounts provided.
The regulation made Florida the eleventh state to undertake a monetary literacy requirement as a stand-alone course, in keeping with CNBC.
Duane Hayslett, 41, mentioned he’s tried to show primary monetary ideas to his two daughters, who’re each enrolled at Buchholz Excessive Faculty in Gainesville.
“I went to cosign a lease for my daughter, and she or he didn’t know a lot about something when it got here to cosigning or something like that,” Hayslett mentioned.He mentioned he believes a monetary literacy course could be most useful.
“It ought to be one thing that provides them the chance to get an thought of what to anticipate once they exit on their very own,” Hayslett mentioned.
Scott Chapman, 40, of Cedar Key, mentioned he’s glad his daughters, who’re 8 and 11, will profit from the change.
“I feel it’s completely improbable,” Chapman mentioned. “As a result of for the previous variety of years, truthfully it appears to be, ‘go rack up $150,000 in pupil debt, then determine it out and pay it each time — with curiosity. You’re not taught about that in class.”
Chapman has purchased and bought companies all through his life and has credited his success to having a powerful understanding of economic planning. He mentioned he whereas is educating his daughters about saving – for instance, by permitting them to make their very own cash via canine strolling – a structured course would assist them study the fundamentals, like what a credit score rating is and why it issues.
The brand new private finance class will change an elective, altering the commencement requirement of eight elective credit to 7½.
Logistics on how the regulation will really take form in lecture rooms will probably be labored out because the state gives extra info on curriculum requirements, in keeping with Jackie Johnson, director of communications for the Alachua County Public Colleges district.
Johnson mentioned the board doesn’t have many considerations about it aside from guaranteeing there’s sufficient certified personnel to show these programs.
“That’s at all times a priority that 67 districts are all searching for academics who’re certified to show monetary literacy at precisely the identical time,” she mentioned.
Mildred Russell, a member of the Alachua County Faculty Board, mentioned she doesn’t see any want to rent extra workers due to the numerous current monetary literacy packages already in place.
They embody Buchholz Excessive’s Academy of Entrepreneurship, which at the moment gives a large curriculum on private finance and enterprise improvement as a part of its magnet program.
Wendy Rosche, a trainer in this system, mentioned she is keen to assist implement these adjustments as they arrive and wish to educate a private finance class if she has room in her schedule.
“To me, it’s not nearly budgeting; it’s actually about profession readiness,” she mentioned. “It’s about the entire image of taking the next step in life and considering, ‘What would you like? What are your values?’”
Rosche mentioned she helps to orchestrate pupil involvement in Junior Achievement, a program through which excessive schoolers go to native elementary faculties to show them monetary ideas.
“I feel youngsters at all times discover this related,” she mentioned. “They wish to discover ways to handle cash. I’ve by no means seen a category that didn’t love studying about monetary literacy.”
Rosche mentioned she hopes the category can even assist youngsters who’re wanting into faculty make sensible monetary selections within the faculties they choose by way of tuition and housing. The typical pupil mortgage debt in Florida was $38,160 in 2020, in keeping with Training Information Initiative.
“We’ve got lots of people and numerous sources to offer this for our children,” Rosche mentioned. “I’m optimistic.”
Copyright 2022 WUSF Public Media – WUSF 89.7
Finance
Crow Wing County is nationally recognized for financial reporting
BRAINERD — For the 10th consecutive year, Crow Wing County was awarded the Certificate of Achievement for Excellence in Financial Reporting and the Award for Outstanding Achievement in Popular Financial Reporting.
The Certificate of Achievement is the highest form of recognition in the area of governmental and financial reporting. The honor is given out by the Government Finance Officers Association of the United States and Canada.
The Certificate for Excellence in Financial Reporting was awarded to Crow Wing County for its 2022 Comprehensive Annual Financial Report compiled in 2023.
The award represents a significant accomplishment by a government and its management, the county noted in a news release.
“This is a testament to the type of work that is being done in our Finance Department,” said Finance Director Nancy Malecha. “This award recognizes our commitment in ensuring that our financial data and information is reported accurately, timely and provides transparency that the taxpayers of Crow Wing County deserve.”
Crow Wing County is one of only 16 counties in Minnesota to have earned this award.
The Award for Outstanding Achievement in Popular Financial Reporting was awarded to Crow Wing County for its 2022 Popular Annual Financial Report.
The annual report extracts information from the Comprehensive Annual Financial Report and summarizes the financial position of the county in a simple, easy to read format. Crow Wing County is one of five counties in Minnesota that have received the national award.
Financial reports are available on the Crow Wing County website at
www.crowwing.gov/771/Financial-Statements
.
Finance
Tata Motors’ subsidiaries – TPEM and TMPV join hands with Bajaj Finance, offers financing program for authorized passenger and electric vehicle dealers – Tata Motors
Press release -
May 20, 2024
Tata Motors’ subsidiaries – TPEM and TMPV join hands with Bajaj Finance, offers financing program for authorized passenger and electric vehicle dealers
Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) join hands with Bajaj Finance to offer financing program for authorized passenger and electric vehicle dealers. In the image, Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. and Mr. Siddhartha Bhatt, Chief Business Officer, Bajaj Finance Ltd. at the MoU signing in Mumbai.
In a bid to improve options and ease of financing for the dealers, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) – subsidiaries of Tata Motors, India’s leading automotive manufacturer, have joined hands with Bajaj Finance, part of Bajaj Finserv Ltd., one of India’s leading and most diversified financial services groups, to extend supply chain finance solutions to its passenger and electric vehicle dealers. Through this memorandum of understanding (MoU), the participating companies will come together to leverage Bajaj Finance’s wide reach to help dealers of TMPV and TPEM access funding with minimal collateral.
The MoU for this partnership was signed by Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. and Mr. Siddhartha Bhatt, Chief Business Officer, Bajaj Finance Ltd.
Commenting on the partnership, Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd., said, “Our dealer partners are integral to our business, and we are happy to actively work towards solutions to help them in ease of doing business. Together, we aim to further grow the market and offer our New Forever portfolio to an increasing set of customers. To that effect, we are excited to partner with Bajaj Finance for this financing program, which will further strengthen the access of our dealer partners to increased working capital.”
Speaking on this partnership, Mr. Anup Saha, Deputy Managing Director, Bajaj Finance Ltd, said, “At Bajaj Finance, we have always strived to provide best-in-class processes by using the India stack for financing solutions that empower both individuals and businesses. Through this financing program, we will arm TMPV and TPEM’s authorized passenger and electric vehicle dealers with financial capital, which will enable them to seize the opportunities offered by a growing passenger vehicles market. We are confident that this collaboration will not only benefit dealers but also contribute to, and enhance the growth of, the automotive industry in India.”
TMPV and TPEM have been pioneering the Indian automotive market with its groundbreaking efforts it both ICE and EV segments. The company’s overarching New Forever philosophy has led to the introduction of segment leading products which are being appreciated by consumers at large.
Bajaj Finance is one of the most diversified NBFCs in India with presence across lending, deposits and payments, serving over 83.64 million customers. As of March 31, 2024, the company’s assets under management stood at ₹3,30,615 crore.
Media Contact Information: Tata Motors Corporate Communications: [email protected] / 91 22-66657613 / www.tatamotors.com
Finance
Drive Finance announces EGP 1.4bn securitisation bond issuance – Dailynewsegypt
Drive Finance, a GB Capital subsidiary and part of GB Corp’s financial division, has closed its fifth securitisation bond issuance, valued at EGP 1.4bn. This marks the second issuance under Capital Securitization’s fifth program, which aims for a total of EGP 5bn.
Following the previous issuance in December, this latest development highlights the company’s portfolio growth and investor confidence.
Ahmed Osama, Managing Director of Drive Finance, welcomed the robust investor response, noting that interest surpassed the issuance amount twofold. “This enthusiasm underscores our strong market position and our sustained creditworthiness amidst economic challenges,” he remarked.
Remon Gaber, Drive Finance’s Treasury Head, took pride in the issuance’s success, attributing it to the strategic diversification of funding sources. This approach has bolstered the company’s objectives, broadened its financing services, and extended its market presence, thereby boosting its share in consumer finance and factoring sectors.
The issuance comprised three tranches:
- First Tranche: EGP 546.8m, 13-month term, AA+(sf) rating.
- Second Tranche: EGP 644.9m, 36-month term, AA(sf) rating.
- Third Tranche: EGP 210.3m, 58-month term, A(sf) rating.
Commercial International Bank (CIB) played a pivotal role as the financial advisor, manager, arranger, and promoter. Arab African International Bank was the custodian, underwriter, and subscription handler. Legal advice was provided by the El-Derini Law Office, while Sherif Mansour Dabus–Russell Bedford conducted the audit. Middle East Rating & Investors Service (MERIS) assigned the ratings.
-
News1 week ago
Skeletal remains found almost 40 years ago identified as woman who disappeared in 1968
-
World1 week ago
India Lok Sabha election 2024 Phase 4: Who votes and what’s at stake?
-
Politics1 week ago
Tales from the trail: The blue states Trump eyes to turn red in November
-
Movie Reviews1 week ago
“Kingdom of the Planet of the Apes”: Disney's New Kingdom is Far From Magical (Movie Review)
-
World1 week ago
Borrell: Spain, Ireland and others could recognise Palestine on 21 May
-
World1 week ago
Ukraine’s military chief admits ‘difficult situation’ in Kharkiv region
-
World1 week ago
Catalans vote in crucial regional election for the separatist movement
-
Politics1 week ago
North Dakota gov, former presidential candidate Doug Burgum front and center at Trump New Jersey rally