Volatility and Revenue Forecast Errors

Size: px
Start display at page:

Download "Volatility and Revenue Forecast Errors"

Transcription

1 Vlatility and Revenue Frecast Errrs Vlatility and Revenue Frecast Errrs Last mnth, the Pew Center n the States tgether with the Rckefeller lnstitute f Gvernment issued a reprt n trends in revenue frecasting, in which Oregn and its kicker law played a central rle ("States' Revenue Estimating: Cracks in the Crystal Ball": plicv/st ates Revenue Estimating.ndn. Despite several references t ur state, it wuld be dangerus t base any plicy prescriptins fr Oregn's tax structure r frecasting prcesses n the study results, given the reprt's cursry nature. The study des very little t cntrlfr differences in state ecnmies r revenue systems when cmparing frecast methds and errrs. In particula ri "T exmine the methds in greater detil, we wuld need mre cmplete data n them, and we wuld need t cntrl fr the vltility f the revenue stream". This statement frm the study des nt g nearly far enugh. In rder t have a meaningful discussin f frecast errrs at all, ne wuld need t cntrl fr bth the size f a given state's revenue stream (as Pew des), as well as hw much its revenues bunce arund frm year t year. The size f the target, and the degree t which the target mves arund, are bth primary determinants f frecast errrs. The Pew study asserts that revenues have becme mre vlatile ver time, and frecast errrs mre prnunced, in part because states have becme mre dependent n taxes derived frm vlatile nnwage surces f incme such as capital gains. Althugh this is a key finding f the study, n quantitative analysis f revenue vlatility is presented. Instead, the authrs include a nte n revenue vlatility as the last f seven caveats abut the limits f the study befre stating: "Given these limitatins... we re unable t reliably cmpqre r rank ne stte against nther. Rather, this analysis is intended as n explrtin f brad trends in revenue estimting". Having issued this disclaimer, the authrs prceed t shw a table with interstate cmparisns f revenue frecasting errrs, and tie the data t a series f recent anecdtes abut the successes and failures f the frecasting methds emplyed by individual state budget fficers. It nly takes a quick lk at the estimates f frecast errrs prduced in the study t cnfirm that vlatility f revenue streams is a majr determinant f interstate REVENUE & TRANSPORATION INTERIM COMMITTEE DECEMBER 8-9, 2011 December 8, Exhibit z

2 differences in frecast accuracy. All f the states fr which the median abslute percentage frecast errr was fund t be ver 3/ in the Pe{Rckefeller study have revenue streams that are far mre vlatile than that f the typical state. Fr example, majr revenue streams bunce arund twice as much in Califrnia and Oregn as they d in New Yrk and lllinis II J 5 10 r8? -/A 'E IE '54?t F2!t g.s0 a Less than 1/ 1/ t 2/ 2/ t 3% Median P e Frecast Errr" Over 3/ Surces: Sfafes'Revenue Estimatirry; Cracks in the Crystalfull, Pew/Rckefeller. Census Bureau Surces f Vlatility Lking at the vlatility f revenue streams acrss states highlights tw primary causes f the fluctuatins: 1) the severity f ecnmic cycles and 2) expsure t incme taies.

3 s f l- L ul {:, (s L. lt +, I J 6.cl F-.g tt = OMA VT }MT NV.lD NM *' '.b1-:;" Jlqi'f K.., CT A 57 Standard Deviatin f Revenue Grwth O^'.,R -'-'+ AK (64.2, 10.5) 11 Surces: "Sfafes' Revenue Estimating: Cracks in the Crystal Balf, PedRckefeller. Gensus Bureau Many f the states where majr revenue streams display the least vlatility (and the smallest frecast errrs) are farm states r ld-line manufacturing hubs in the Plains r Midwest regins (la, ll, ln, MN, MO, NE, OH, SD & Wl). These reginal ecnmies have seen less prnunced recent business cycles than has the typical state since these areas have had relatively less expsure t recent macrecnmic imbalances (e.g. the technlgy, husing and energy bms). Similarly, traditinal ecnmies in the rural Suth (AL, AR, GA, KY, M5, NC & TN) have als seen smaller revenue swings than has the average state. In additin t the severity f ecnmic cycles, the structure f the tax system als plays a rle in the vlatility f revenue streams. lncme tax-dependent states are ften amng thse with the mst vlatile and hard-t-predict revenue streams (CA, CT, MA & OR), as are states that depend heavily n energy and mining industries (AK, LA, MT, ND, NM, OK & WY). The unique tax systems f NV and DE als display a lt f vlatility, hwever, their revenue frecast errrs are nt captured well by the Pew study's

4 methdlgy, which fcuses n the big three revenue surces fr states (i.e. sales, persnal incme and crprate incme taxes). ln additin t the rle f vlatility, states with biennial budgets are als likely t see relatively large frecast errrs given their lnger frecast hrizn. This appears t be supprted by the Pew errr estimates. After adjusting fr vlatility, amng the nine states with biennial budgets and legislatures, nly Wiscnsin and Maine exhibit belw average frecast errrs. What Can We D Abut Vlatility? Vlatility f revenue streams increases uncertainty and leads t frecast errrs. ln a wrld where balanced budget requirements have teeth, frecast errrs ften lead t inefficiencies in the level f prgram funding. Oregn's plicymakers have been made painfully aware f the real wrld csts assciated with the state's vlatile ecnmy and revenue streams. As a result, a wide range f plicy measures are being prmted t better manage this vlatility, including the expansin f ending balances and ther budget reserves, lng-range budgeting, and kicker refrm. In additin t better managing budgets in light f large revenue swings, vlatility can als be reduced via refrms t the tax cde that diversiry the revenue base r shift tax burdens t mre stable elements f the ecnmy. Hwever, reducing vlatility and related frecasting errrs are nt the nly factrs that plicymakers must cnsider when designing revenue systems and frecasting prcesses. In particular, state plicymakers must weigh bth risk and return when determining their tax structures. Shuld Alaska scrap its il-related revenues simply because they are very vlatile and difficult t predict? A central bservatin in the PewlRckefeller study is that revenue vlatility and revenue frecasting errrs have increased ver time as taxes have becme mre sensitive t business cycle cnditins. lt is asserted that revenues have becme mre clsely linked t asset markets, crprate prfits and ther cmpnents f ecnrnic activity that are ften subject t wide cyclical swings. Why has this transfrmatin ccurred? Expsure f revenue systems t vlatile cmpnents f the ecnmy has risen largely because these vlatile cmpnents f the ecnmy have grwn faster than ther parts f the ecnmy in the average year. This

5 trend willcntinue ging frward. As the baby-bm ppulatin chrt ages, many wrkers will leave the labr market, putting dwnward pressure n taxable earnings. Als, husehlds will make fewer purchases f auts, hme furnishings and the ther big-ticket gds that drive sales tax cllectins. Overall ecnmic grwth will be led by trade, business investment, and the drawing dwn f retiree wealth. This is a departure frm recent business cycles that have been led by gains in cnsumer spending and the size f the labr frce. This evlutin cmplicates the debate n tax refrm. As the nature f ecnmic grwth changes, taxes n the riskiest cmpnents f the ecnmy such as prfits and capital gains are likely t cntinue t yield the highest returns. Further cmplicating any tax refrm is the fact that Oregn's ecnmy is an pen ne, and tax rates must be set with an eye tward the tax systems f ther states. Oregn is in cmpetitin with ther states t attract and retain mbile husehlds and firms. lf taxes n rapidly expanding elements f the ecnmy are set t high, the state risks biting the hand that feeds it. Oregn's plicymakers face a difficult, but necessary, task as they refrm their revenue system and budgeting prcesses t better weather cyclical dwnturns and t reflect the evlutin f the reginal ecnmy ver the extended hrizn. T succeed at this task, plicymakers must rigrusly analyze the effectiveness, efficiency and fairness f Oregn's tax instruments, and nt base their decisins n simple measures and statistics that are geared t grab headlines, such as thse cntained in the Pew/Rckefeller reprt.

A Quick Read on the State of Small Business and the Small Business Success Index 2009 Baseline Study of Small Business Success

A Quick Read on the State of Small Business and the Small Business Success Index 2009 Baseline Study of Small Business Success A Quick Read n the State f Small Business and the Small Business Success Index 2009 Baseline Study f Small Business Success March 12, 2009 Spnsred by: Netwrk Slutins, LLC and Rbert H. Smith Schl f Business,

More information

This report provides Members with an update on of the financial performance of the Corporation s managed IS service contract with Agilisys Ltd.

This report provides Members with an update on of the financial performance of the Corporation s managed IS service contract with Agilisys Ltd. Cmmittee: Date(s): Infrmatin Systems Sub Cmmittee 11 th March 2015 Subject: Agilisys Managed Service Financial Reprt Reprt f: Chamberlain Summary Public Fr Infrmatin This reprt prvides Members with an

More information

Fixed vs. Variable Interest Rates

Fixed vs. Variable Interest Rates Fixed vs. Variable Interest Rates Understanding the Advantages and Disadvantages f Each Rate Type When shpping fr financial prducts, there are a lt f factrs t cnsider. Much has changed in the financial

More information

Marketing Consultancy Division (MCD) Export Consultancy Unit (ECU) Export in Focus. Export Market Expansion Strategies. Rabi-I, 1427 (April, 2006)

Marketing Consultancy Division (MCD) Export Consultancy Unit (ECU) Export in Focus. Export Market Expansion Strategies. Rabi-I, 1427 (April, 2006) Marketing Cnsultancy Divisin (MCD) Exprt Cnsultancy Unit (ECU) Exprt in Fcus Exprt Market Expansin Strategies Rabi-I, 1427 (April, 2006) 1 Exprt Market Expansin Strategies Intrductin It is clear that glbalizatin

More information

VET FEE-HELP Frequently Asked Questions for Students May 2010

VET FEE-HELP Frequently Asked Questions for Students May 2010 Hw d I apply? VET FEE-HELP Frequently Asked Questins fr Students May 2010 If yu are eligible fr VET FEE-HELP assistance and wuld like t btain a VET FEE-HELP lan, yu shuld btain a Request fr VET FEE-HELP

More information

March 2016 Group A Payment Issues: Missing Information-Loss Calculation letters ( MILC ) - deficiency resolutions: Outstanding appeals:

March 2016 Group A Payment Issues: Missing Information-Loss Calculation letters ( MILC ) - deficiency resolutions: Outstanding appeals: The fllwing tpics were discussed in the March 24, 2016 meeting with law firms representing VCF claimants. Grup A Payment Issues: We cntinue t fcus n paying Grup A claims in full and are meeting the schedule

More information

CONTENTS UNDERSTANDING PPACA. Implications of PPACA Relative to Student Athletes. Institution Level Discussion/Decisions.

CONTENTS UNDERSTANDING PPACA. Implications of PPACA Relative to Student Athletes. Institution Level Discussion/Decisions. This dcument is intended t prvide NCAA member institutins with an infrmatinal guide regarding the ptential implicatins f the Patient Prtectin and Affrdable Care Act f 2010 (PPACA) when fully implemented

More information

Retirement Planning Options Annuities

Retirement Planning Options Annuities Retirement Planning Optins Annuities Everyne wants a glden retirement. But saving fr retirement is n easy task. The baby bmer generatin is graying. Mre and mre peple are appraching retirement age. With

More information

Refinancing Section 95 & 61 co-ops CHF Canada s Refinancing Program

Refinancing Section 95 & 61 co-ops CHF Canada s Refinancing Program Refinancing Sectin 95 & 61 c-ps CHF Canada s Refinancing Prgram Lndn Educatin Event 2015 0 CHF Canada s Refinancing Prgram Intrductins Sectin 95 & Sectin 61 Purpse f the Refinancing Prgram Hw the new mrtgage

More information

Health Care Reform: The New Law

Health Care Reform: The New Law Health Care Refrm: The New Law Prfessr Sidney D. Watsn April 7, 2010 On March 23, 2010 President Obama signed int law the Patient Prtectin and Affrdable Care Act (H.R. 3590). On March 29, the President

More information

Findings on Health Care Cost, Pricing and Reimbursement in Alaska 1 Excerpted from Annual Reports of the Alaska Health Care Commission

Findings on Health Care Cost, Pricing and Reimbursement in Alaska 1 Excerpted from Annual Reports of the Alaska Health Care Commission Findings n Health Care Cst, Pricing and Reimbursement in Alaska 1 Excerpted frm Annual Reprts f the Alaska Health Care Cmmissin 2011 Findings n Cst f Health Care in Alaska (2011 Annual Reprt) i Health

More information

Unemployment, Gold, Money and Forecasts of Inflation

Unemployment, Gold, Money and Forecasts of Inflation Carnegie Melln University Research Shwcase @ CMU Tepper Schl f Business 3-1996 Unemplyment, Gld, Mney and Frecasts f Inflatin Allan H. Meltzer Carnegie Melln University, am05@andrew.cmu.edu Fllw this and

More information

FTE is defined as an employee who is employed on average at least 30 hours of service per week.

FTE is defined as an employee who is employed on average at least 30 hours of service per week. On March 23, 2010, President Barack Obama signed int law cmprehensive health care refrm legislatin, the Patient Prtectin and Affrdable Care Act (H.R. 3590) passed in the Senate. The Health Care and Educatin

More information

Watlington and Chalgrove GP Practice - Patient Satisfaction Survey 2011

Watlington and Chalgrove GP Practice - Patient Satisfaction Survey 2011 Watlingtn and Chalgrve GP - Patient Satisfactin Survey 2011 Backgrund During ne week in Nvember last year patients attending either the Chalgrve r the Watlingtn surgeries were asked t cmplete a survey

More information

SALARY CONSIDERATIONS FOR CANCER REGISTRARS

SALARY CONSIDERATIONS FOR CANCER REGISTRARS SALARY CONSIDERATIONS FOR CANCER REGISTRARS UPDATED 2012 SURVEY DATA SALARY CONSIDERATIONS FOR CANCER REGISTRARS UPDATED 2012 SURVEY DATA Natinal Cancer Registrars Assciatin 1340 Braddck Place, Suite 203

More information

Thinking Different About Alternative Financing Options

Thinking Different About Alternative Financing Options Thinking Different Abut Alternative Financing Optins Christpher Mills Senir Business Develpment Officer Federal Natinal Cmmercial Credit This whitepaper will make yu think differently abut alternative

More information

WHITE PAPER. Vendor Managed Inventory (VMI) is Not Just for A Items

WHITE PAPER. Vendor Managed Inventory (VMI) is Not Just for A Items WHITE PAPER Vendr Managed Inventry (VMI) is Nt Just fr A Items Why it s Critical fr Plumbing Manufacturers t als Manage Whlesalers B & C Items Executive Summary Prven Results fr VMI-managed SKUs*: Stck-uts

More information

Notice of Protection Provided by Utah Life and Health Insurance Guaranty Association

Notice of Protection Provided by Utah Life and Health Insurance Guaranty Association Ntice f Prtectin Prvided by Utah Life and Health Insurance Guaranty Assciatin This ntice prvides a brief summary f the Utah Life and Health Insurance Guaranty Assciatin ("the Assciatin") and the prtectin

More information

The Cost Benefits of the Cloud are More About Real Estate Than IT

The Cost Benefits of the Cloud are More About Real Estate Than IT y The Cst Benefits f the Clud are Mre Abut Real Estate Than IT #$#%&'()*( An Osterman Research Executive Brief Published December 2010 "#$#%&'()*( Osterman Research, Inc. P.O. Bx 1058 Black Diamnd, Washingtn

More information

Times Table Activities: Multiplication

Times Table Activities: Multiplication Tny Attwd, 2012 Times Table Activities: Multiplicatin Times tables can be taught t many children simply as a cncept that is there with n explanatin as t hw r why it is there. And mst children will find

More information

SUMMARY OF SURVEY FINDINGS

SUMMARY OF SURVEY FINDINGS MEMORANDUM TO: Allstate FROM: FTI Cnsulting DATE: 05 / 29 / 2015 RE: Allstate/Natinal Jurnal Heartland Mnitr XXIII Key Findings This memrandum utlines key findings frm a natinal survey f American adults

More information

HOW TO SELECT A LIFE INSURANCE COMPANY

HOW TO SELECT A LIFE INSURANCE COMPANY HOW TO SELECT A LIFE INSURANCE COMPANY There will prbably be hundreds f life insurance cmpanies t chse frm when yu decide t purchase a life insurance plicy. Hw d yu decide which ne? Mst cmpanies are quite

More information

Student Academic Learning Services Page 1 of 7. Statistics: The Null and Alternate Hypotheses. A Student Academic Learning Services Guide

Student Academic Learning Services Page 1 of 7. Statistics: The Null and Alternate Hypotheses. A Student Academic Learning Services Guide Student Academic Learning Services Page 1 f 7 Statistics: The Null and Alternate Hyptheses A Student Academic Learning Services Guide www.durhamcllege.ca/sals Student Services Building (SSB), Rm 204 This

More information

Data from Focus Groups on Transfer CWID MICHIGAN SARAH FITZGERALD AND MARILYN AMEY FALL, 2014

Data from Focus Groups on Transfer CWID MICHIGAN SARAH FITZGERALD AND MARILYN AMEY FALL, 2014 Data frm Fcus Grups n Transfer CWID MICHIGAN SARAH FITZGERALD AND MARILYN AMEY FALL, 2014 Value f an Assciate s Degree UKlity in the labr market Opinins are mixed, Ten Ked t discipline. When infrmed, students

More information

Software and Hardware Change Management Policy for CDes Computer Labs

Software and Hardware Change Management Policy for CDes Computer Labs Sftware and Hardware Change Management Plicy fr CDes Cmputer Labs Overview The cmputer labs in the Cllege f Design are clsely integrated with the academic needs f faculty and students. Cmputer lab resurces

More information

Understanding Federal Direct Consolidation Loans. 2012 Spring MASFAA Conference

Understanding Federal Direct Consolidation Loans. 2012 Spring MASFAA Conference Understanding Federal Direct Cnslidatin Lans 2012 Spring MASFAA Cnference UNDERSTANDING FEDERAL DIRECT & SPECIAL CONSOLIDATION LOANS Amy M. Mser, Reginal Directr Nelnet Educatin Lan Services 2 Nelnet Educatin

More information

PART 6. Chapter 12. How to collect and use feedback from readers. Should you do audio or video recording of your sessions?

PART 6. Chapter 12. How to collect and use feedback from readers. Should you do audio or video recording of your sessions? TOOLKIT fr Making Written Material Clear and Effective SECTION 3: Methds fr testing written material with readers PART 6 Hw t cllect and use feedback frm readers Chapter 12 Shuld yu d audi r vide recrding

More information

There are a number of themed areas for which the Council has responsibility, and each of these is likely to generate debts of a specific type:

There are a number of themed areas for which the Council has responsibility, and each of these is likely to generate debts of a specific type: Wiltshire Cuncil Crprate Debt Recvery Plicy: 29102010 WILTSHIRE COUNCIL CORPORATE DEBT RECOVERY POLICY 1. Intrductin The Cuncil raises a significant prprtin f its ttal incmes thrugh lcal taxes and charges,

More information

TO: Chief Executive Officers of all National Banks, Department and Division Heads, and all Examining Personnel

TO: Chief Executive Officers of all National Banks, Department and Division Heads, and all Examining Personnel AL 96-7 Subject: Credit Card Preapprved Slicitatins TO: Chief Executive Officers f all Natinal Banks, Department and Divisin Heads, and all Examining Persnnel PURPOSE The purpse f this advisry letter is

More information

NAVIPLAN PREMIUM LEARNING GUIDE. Analyze, compare, and present insurance scenarios

NAVIPLAN PREMIUM LEARNING GUIDE. Analyze, compare, and present insurance scenarios NAVIPLAN PREMIUM LEARNING GUIDE Analyze, cmpare, and present insurance scenaris Cntents Analyze, cmpare, and present insurance scenaris 1 Learning bjectives 1 NaviPlan planning stages 1 Client case 2 Analyze

More information

Serving the Underserved: Initiatives to Broaden Access to the Financial Mainstream. Thursday, June 26, 2003 10 A.M.

Serving the Underserved: Initiatives to Broaden Access to the Financial Mainstream. Thursday, June 26, 2003 10 A.M. Testimny f James E. Yung, President & CEO Citizens Trust Bank Atlanta, Gergia Befre U. S. Huse f Representatives Subcmmittee n Financial Institutins and Cnsumer Credit Hearing 2128 Rayburn Huse Office

More information

What Does Specialty Own Occupation Really Mean?

What Does Specialty Own Occupation Really Mean? What Des Specialty Own Occupatin Really Mean? Plicy definitins are cnfusing, nt nly t cnsumers but als t many f the insurance prfessinals wh sell them. Belw we will try t prvide an understandable explanatin

More information

PLANNING FOR QUALITY CARE AND INDEPENDENCE. Why you need to plan for long-term care assistance, and what funding options are available.

PLANNING FOR QUALITY CARE AND INDEPENDENCE. Why you need to plan for long-term care assistance, and what funding options are available. PLANNING FOR QUALITY CARE AND INDEPENDENCE Why yu need t plan fr lng-term care assistance, and what funding ptins are available. PLANNING FOR QUALITY CARE AND INDEPENDENCE The value f planning ahead The

More information

Phi Kappa Sigma International Fraternity Insurance Billing Methodology

Phi Kappa Sigma International Fraternity Insurance Billing Methodology Phi Kappa Sigma Internatinal Fraternity Insurance Billing Methdlgy The Phi Kappa Sigma Internatinal Fraternity Executive Bard implres each chapter t thrughly review the attached methdlgy and plan nw t

More information

Cornwall Partners in Care

Cornwall Partners in Care Crnwall Partners in Care Mving Frward Versin 2.0 8 th January 2014 By Richard Mnk Crnwall Partners in Care August 2013 Page 1 f 6 CPIC mving frward This dcument has been created t help prvide a little

More information

Gravesham Borough Council

Gravesham Borough Council Classificatin: Part 1 Public Key Decisin: Please specify - N Gravesham Brugh Cuncil Reprt t: Perfrmance and Administratin Cmmittee Date: 12 Nvember 2015 Reprting fficer: Subject: Crprate Perfrmance Manager

More information

Developing Expertise as Coaches of Teachers

Developing Expertise as Coaches of Teachers Develping Expertise as Caches f Teachers Presented by: Elaine M. Bukwiecki, Ed.D. Assciate Prfessr f Literacy Educatin Presented at: 11 th Internatinal Writing Acrss the Curriculum Cnference Savannah,

More information

Aurora Updates Volatility: Where are we now?

Aurora Updates Volatility: Where are we now? Aurra Updates Vlatility: Where are we nw? 2 July 2015 Executive Summary With the clse f the 2014-2015 financial year, markets are fcused n the glbal ramificatins f the Greek debt crisis/ptential exit f

More information

To discuss Chapter 13 bankruptcy questions with our bankruptcy attorney, please call us or fill out a Free Evaluation form on our website.

To discuss Chapter 13 bankruptcy questions with our bankruptcy attorney, please call us or fill out a Free Evaluation form on our website. Intrductin This Ebk fcuses n Chapter 13 bankruptcy, hw it wrks, and hw it helps yu eliminate debt and keep yur assets (such as yur hme). We hpe yu find this infrmatin t be helpful. T discuss Chapter 13

More information

NHPCO Guidelines for Using CAHPS Hospice Survey Results

NHPCO Guidelines for Using CAHPS Hospice Survey Results Intrductin NHPCO Guidelines fr Using CAHPS Hspice Survey Results The Centers fr Medicare and Medicaid Services (CMS) has develped the Cnsumer Assessment f Healthcare Prviders and Systems (CAHPS ) Hspice

More information

AMERITAS INFORMATION TECHNOLOGY DISASTER RECOVERY AND DATA CENTER STRATEGY

AMERITAS INFORMATION TECHNOLOGY DISASTER RECOVERY AND DATA CENTER STRATEGY AMERITAS INFORMATION TECHNOLOGY DISASTER RECOVERY AND DATA CENTER STRATEGY O VERVIEW There are currently 3 primary Data Center lcatins (Lincln, Cincinnati, and Calvert) and 2 secndary (Fallbrk and Philadelphia).

More information

The Importance Advanced Data Collection System Maintenance. Berry Drijsen Global Service Business Manager. knowledge to shape your future

The Importance Advanced Data Collection System Maintenance. Berry Drijsen Global Service Business Manager. knowledge to shape your future The Imprtance Advanced Data Cllectin System Maintenance Berry Drijsen Glbal Service Business Manager WHITE PAPER knwledge t shape yur future The Imprtance Advanced Data Cllectin System Maintenance Cntents

More information

Equal Pay Audit 2014 Summary

Equal Pay Audit 2014 Summary Equal Pay Audit 2014 Summary Abut the dcument The fllwing summary is an abridged versin f Ofcm s equal pay audit 2014. In the full versin f the reprt we set ut ur key findings, cmment n any issues arising

More information

Zaryn Dentzel Founder & CEO. Tuenti Technologies

Zaryn Dentzel Founder & CEO. Tuenti Technologies Zaryn Dentzel Funder & CEO Tuenti Technlgies Disclaimer This presentatin cntains statements that cnstitute frward-lking statements abut the Cmpany, within the general meaning f the term and within the

More information

Better Practice Guide Financial Considerations for Government use of Cloud Computing

Better Practice Guide Financial Considerations for Government use of Cloud Computing Better Practice Guide Financial Cnsideratins fr Gvernment use f Clud Cmputing Nvember 2011 Intrductin Many Australian Gvernment agencies are in the prcess f cnsidering the adptin f clud-based slutins.

More information

In Australia, compulsory third party insurance (CTP) covers

In Australia, compulsory third party insurance (CTP) covers COMPULSORY THIRD PARTY INSURANCE: METHODS OF MAKING EXPLICIT ALLOWANCE FOR INFLATION B. J. BRUTON and J. R. CUMPSTON Australia SUMMARY An inflatin index is essential when cnstructing claim payment mdels

More information

The Patient Choice, Affordability, Responsibility, and Empowerment Act

The Patient Choice, Affordability, Responsibility, and Empowerment Act The Patient Chice, Affrdability, Respnsibility, and Empwerment Act January 30, 2014 In January 2014, Senatrs Richard Burr (NC), Tm Cburn (OK), and Orrin Hatch (UT) made public a prpsal the Patient Chice,

More information

NON-CATASTROPHIC HOMEOWNERS WATER CLAIMS

NON-CATASTROPHIC HOMEOWNERS WATER CLAIMS NON-CATASTROPHIC HOMEOWNERS WATER CLAIMS JANUARY 2016 Citizens Prperty Insurance Crpratin EXECUTIVE SUMMARY: AOB AND LITIGATION ARE A POCKETBOOK PROBLEM In Octber 2015, the Office f Insurance Regulatin

More information

White Paper on Business Process Outsourcing in Automotive Industry

White Paper on Business Process Outsourcing in Automotive Industry White Paper n Business Prcess Outsurcing in Autmtive Industry Intrductin As autmtive industry is stepping int a market landscape which is favrable t it, there is untapped market ptential which is critically

More information

Economic Justification: Measuring Return on Investment (ROI) and Cost Benefit Analysis (CBA)

Economic Justification: Measuring Return on Investment (ROI) and Cost Benefit Analysis (CBA) Advancing Statewide Spatial Data Infrastructures in Supprt f the Natinal Spatial Data Infrastructure (NSDI) Ecnmic Justificatin: Measuring Return n Investment (ROI) and Cst Benefit Analysis (CBA) Intrductin

More information

What Happens To My Benefits If I Get a Bunch of Money? TANF Here is what happens if you are on the TANF program when you get lump-sum income:

What Happens To My Benefits If I Get a Bunch of Money? TANF Here is what happens if you are on the TANF program when you get lump-sum income: 126 Sewall Street Augusta, Maine 04330-6822 TTY/Vice: (207) 626-7058 Fax: (207) 621-8148 www.mejp.rg What Happens T My Benefits If I Get a Bunch f Mney? Each prgram, (TANF, SSI, MaineCare, etc.) has its

More information

efusion Table of Contents

efusion Table of Contents efusin Cst Centers, Partner Funding, VAT/GST and ERP Link Table f Cntents Cst Centers... 2 Admin Setup... 2 Cst Center Step in Create Prgram... 2 Allcatin Types... 3 Assciate Payments with Cst Centers...

More information

insurers cannot deny coverage for patients with preexisting conditions or because an insured got sick;

insurers cannot deny coverage for patients with preexisting conditions or because an insured got sick; The Affrdable Care Act Health Insurance Respnsibilities f Large, Midsize & Small Emplyers; Buying Insurance n the Individual Health Insurance Marketplace and the Small Business Health Optins Prgram Intrductin:

More information

Reforms to South Australian Gambling Legislation

Reforms to South Australian Gambling Legislation Licensee Bulletin Refrms t Suth Australian Gambling Legislatin A bulletin was issued t all licensees n 25 September 2013, which gave a brief verview f recent amendments t gambling legislatin in Suth Australia

More information

Special Tax Notice Regarding 403(b) (TSA) Distributions

Special Tax Notice Regarding 403(b) (TSA) Distributions Special Tax Ntice Regarding 403(b) (TSA) Distributins P.O. Bx 7893 Madisn, WI 53707-7893 1-800-279-4030 Fax: (608) 237-2529 The IRS requires us t prvide yu with a cpy f the Explanatin f Direct Rllver,

More information

Corporate Standards for data quality and the collation of data for external presentation

Corporate Standards for data quality and the collation of data for external presentation The University f Kent Crprate Standards fr data quality and the cllatin f data fr external presentatin This paper intrduces a set f standards with the aim f safeguarding the University s psitin in published

More information

Standardization or Harmonization? You need Both

Standardization or Harmonization? You need Both Standardizatin r? Yu need Bth Albrecht Richen and Ansgar Steinhrst Recently the CFO f a majr cnsumer electrnics cmpany stated, We dn t need standardizatin f ur wrldwide prcesses, we need harmnizatin. Is

More information

Change Management Process

Change Management Process Change Management Prcess B1.10 Change Management Prcess 1. Intrductin This plicy utlines [Yur Cmpany] s apprach t managing change within the rganisatin. All changes in strategy, activities and prcesses

More information

Business Intelligence represents a fundamental shift in the purpose, objective and use of information

Business Intelligence represents a fundamental shift in the purpose, objective and use of information Overview f BI and rle f DW in BI Business Intelligence & Why is it ppular? Business Intelligence Steps Business Intelligence Cycle Example Scenaris State f Business Intelligence Business Intelligence Tls

More information

Point2 Property Manager Quick Setup Guide

Point2 Property Manager Quick Setup Guide Click the Setup Tab Mst f what yu need t get started using Pint 2 Prperty Manager has already been taken care f fr yu. T begin setting up yur data in Pint2 Prperty Manager, make sure yu have cmpleted the

More information

What broader insights would you want to explore first to answer the CEO s questions?

What broader insights would you want to explore first to answer the CEO s questions? Setup The CEO f a majr client has requested a shrt-term study examining a small part f the client s prduct prtfli. The cmpany has a small divisin that manufactures autmatic drip cffeemakers fr the US and

More information

Are Insurance Premiums Deductible?

Are Insurance Premiums Deductible? Are Insurance Premiums Deductible? December 2011 Can I deduct the premiums? That s a questin yu prbably hear when yu re presenting an insurance cncept. Unfrtunately, the answer is generally n insurance

More information

Create a Non-Catalog Requisition

Create a Non-Catalog Requisition Create a Nn-Catalg Requisitin Jb Aid This jb aid describes hw t create a standard nn-catalg (i.e., nn-ibuynu) purchase request. REFER TO ADDITIONAL TRAINING GUIDES If yu need t create a special requisitin

More information

THE MAKE IT WORK CAMPAIGN S POLICY PROPOSAL ON CAREGIVING: CHILD CARE, EARLY EDUCATION, AFTER SCHOOL CARE AND LONG-TERM CARE

THE MAKE IT WORK CAMPAIGN S POLICY PROPOSAL ON CAREGIVING: CHILD CARE, EARLY EDUCATION, AFTER SCHOOL CARE AND LONG-TERM CARE THE MAKE IT WORK CAMPAIGN S POLICY PROPOSAL ON CAREGIVING: CHILD CARE, EARLY EDUCATION, AFTER SCHOOL CARE AND LONG-TERM CARE POLICY PROPOSAL ON CHILD CARE, EARLY EDUCATION, AFTER SCHOOL CARE As child care

More information

Frequently Asked Questions about the Faith A. Fields Nursing Scholarship Loan

Frequently Asked Questions about the Faith A. Fields Nursing Scholarship Loan ARKANSAS STATE BOARD OF NURSING 1123 S. University Avenue, Suite 800, University Twer Building, Little Rck, AR 72204 Phne: (501) 686-2700 Fax: (501) 686-2714 www.arsbn.rg Frequently Asked Questins abut

More information

SWARTHMORE GIFT PLANNING

SWARTHMORE GIFT PLANNING SWARTHMORE GIFT PLANNING Gift Basics Thank yu fr serving as a 50 th reunin gift planning representative fr yur class. Yur supprt fr the Cllege and yur membership in the Swarthmre Legacy Circle will serve

More information

Buffalo Niagara Region Shared Services Opportunities

Buffalo Niagara Region Shared Services Opportunities Buffal Niagara Regin Shared Services Opprtunities Western New Yrk State has ver 50 cmpanies with ver 16,000 emplyees in custmer cntact centers and back ffice peratins. Based n the success f ur emplyers

More information

Re: Draft Performance Monitoring Framework and Draft Indicators for the Provincial Policy Statement, 2005

Re: Draft Performance Monitoring Framework and Draft Indicators for the Provincial Policy Statement, 2005 June 19, 2009 Kyle MacIntyre Team Lead PPS Perfrmance Mnitring Framewrk Ministry f Municipal Affairs and Husing Prvincial Planning Plicy Branch 777 Bay Street, 14 th Flr Trnt, ON M5G 2E5 Re: Draft Perfrmance

More information

The 2009 Business Analyst Salary Survey

The 2009 Business Analyst Salary Survey ASPE SDLC Training The 2009 Business Analyst Salary Survey A WHITE PAPER PRESENTED BY ASPE AND RAVENFLOW www..cm 877-800-5221 2009 ASPE-SDLC and Ravenflw Business Analyst Salary Survey Develped Jintly

More information

Claim Cost Drivers A First Look

Claim Cost Drivers A First Look Claim Cst Drivers A First Lk Nvember 17, 2011 Three ways t think abut high High ttal Ttal primarily include medical treatment and wage replacement High Days away frm wrk cntribute t bth direct and indirect

More information

Document Management Versioning Strategy

Document Management Versioning Strategy 1.0 Backgrund and Overview Dcument Management Versining Strategy Versining is an imprtant cmpnent f cntent creatin and management. Versin management is a key cmpnent f enterprise cntent management. The

More information

Process Improvement Center of Excellence Service Proposal Recommendation. Operational Oversight Committee Report Submission

Process Improvement Center of Excellence Service Proposal Recommendation. Operational Oversight Committee Report Submission Prcess Imprvement Center f Excellence Service Prpsal Recmmendatin Operatinal Oversight Cmmittee Reprt Submissin INTRODUCTION This Prpsal prvides initial infrmatin regarding a pssible additin t a service.

More information

Maryland General Service (MGS) Area 29 Treatment Facilities Committee (TFC) TFC Instructions

Maryland General Service (MGS) Area 29 Treatment Facilities Committee (TFC) TFC Instructions Maryland General Service (MGS) Area 29 Treatment Facilities Cmmittee (TFC) TFC Instructins Lve And Service Facility Presentatin t Patients We are frm Alchlics Annymus (AA), fr AA, and ur service is fr

More information

Submission of the Canadian Association for Graduate Studies to the House of Commons Standing Committee on Finance on the 2015 Federal Budget

Submission of the Canadian Association for Graduate Studies to the House of Commons Standing Committee on Finance on the 2015 Federal Budget Submissin f the Canadian Assciatin fr Graduate Studies t the Huse f Cmmns Standing Cmmittee n Finance n the 2015 Federal Budget Summary The Canadian Assciatin fr Graduate Studies (CAGS) thanks the Huse

More information

Competitive Intelligence Report - Market Snapshot Explanations of Numbers Suggestions and Tips

Competitive Intelligence Report - Market Snapshot Explanations of Numbers Suggestions and Tips Cmpetitive Intelligence Reprt - Market Snapsht Explanatins f Numbers Suggestins and Tips The infrmatin cntained in the tw sectins f the Cmpetitive Intelligence Reprt fr each gegraphic regin is f the highest

More information

R o t h IRAs : How They W o r k and How to Use Them

R o t h IRAs : How They W o r k and How to Use Them R t h IRAs : Hw They W r k and Hw t Use Them Rth IRAs differ frm ther tax-favred retirement plans, including ther IRAs (called "traditinal IRAs"), in that they prmise cmplete tax exemptin n distributin.

More information

The complete notes are available at http://www.eng.uwaterloo.ca/~erick/ad/dns.htm

The complete notes are available at http://www.eng.uwaterloo.ca/~erick/ad/dns.htm Reprt: April 12, 2011 By Erick Engelke I have rganized my tasks arund tw majr prblems: 1. Define the new active directry a. Dmain Name Service fr the dmain - cmplete b. Dmain layut, structuring f Organizatinal

More information

DALBAR Due Diligence: Trust, but Verify

DALBAR Due Diligence: Trust, but Verify BEST INTEREST INVESTMENT RECOMMENDATIONS Advisr Rle under Best Interest Regulatins January 27, 2016 In the era when the cntractual bligatin is t act in the client s best interest, investment decisins can

More information

Calibration of Oxygen Bomb Calorimeters

Calibration of Oxygen Bomb Calorimeters Calibratin f Oxygen Bmb Calrimeters Bulletin N.101 Prcedures fr standardizatin f Parr xygen bmb calrimeters. Energy Equivalent The calibratin f an xygen bmb calrimeter has traditinally been called the

More information

Tips to Prepare for Quarter-End and Year-End

Tips to Prepare for Quarter-End and Year-End Tips t Prepare fr Quarter-End and Year-End Melissa Wd Cnsultant What We ll Cver 1. Tying ut A/P 2. Tying ut A/R 3. Tying ut I/N 4. Wrk In Prgress 5. Managing Jbs and PMs 6. Quarterly Payrll 7. Clsing a

More information

Application for 477 Services

Application for 477 Services An Indian Rerganizatin Act Village Under Act f Cngress June 15 th, 1935 32 Chilkat Ave. Klukwan, Alaska 99827 HC60 Bx 2207 Haines, Alaska 99827 Phne: 907-767-5505 Fax: 907-767-5408 klukwan@chilkat-nsn.gv

More information

IN-HOUSE OR OUTSOURCED BILLING

IN-HOUSE OR OUTSOURCED BILLING IN-HOUSE OR OUTSOURCED BILLING Medical billing is ne f the mst cmplicated aspects f running a medical practice. With thusands f pssible cdes fr diagnses and prcedures, and multiple payers, the ability

More information

Instructions for Certify

Instructions for Certify Lg int Certify using yur full Bwdin Cllege email address and yur passwrd. If yu have frgtten yur passwrd, select Frgt yur passwrd? frm the Certify Lgin page and fllw the Lst Passwrd Wizard steps. Add receipts

More information

Allstate/National Journal Heartland Monitor #10 Key Findings

Allstate/National Journal Heartland Monitor #10 Key Findings Strategic Cmmunicatins M EM ORAN DUM TO: FROM: Allstate FTI Strategic Cmmunicatins DATE: 10/14/11 RE: Allstate/Natinal Jurnal Heartland Mnitr #10 Key Findings This memrandum utlines key findings frm the

More information

Reducing road user distraction

Reducing road user distraction Page 1 Reducing rad user distractin Activities have been adapted frm Limiting Risks, Prtecting Lives (NSW Centre fr Rad Safety). Crssrads utcmes 1.2 Critically analyse situatins, attitudes and behaviurs

More information

CRM and Social Media: Maximizing Deeper Customer Relationships

CRM and Social Media: Maximizing Deeper Customer Relationships Seattle Office: 2211 Ellitt Avenue Suite 200 Seattle, Washingtn, 98121 seattle@avanade.cm www.avanade.cm A glbal IT cnsultancy dedicated t using the Micrsft platfrm t help enterprises achieve prfitable

More information

Here are some simple guidelines to follow for making wise investments:

Here are some simple guidelines to follow for making wise investments: FAQ - Investment 1. What affects the value f mney? Mney has a tendency t lse its value ver time because the price f gds and services has an upward tendency. This is called inflatin. Here are sme factrs

More information

Health Care Reform Patient Protection Affordable Care Act (PPACA) Overview Key Principles

Health Care Reform Patient Protection Affordable Care Act (PPACA) Overview Key Principles Health Care Refrm Patient Prtectin Affrdable Care Act (PPACA) Overview Key Principles DESCRIPTION: Healthcare Refrm/Patient Prtectin & Affrdable Care Act (PPACA) were passed int law March 23. 2010. Hwever,

More information

Executive Summary DIABETES MELLITUS AND GLUCOSE CONTROL BIOTECHNOLOGY INNOVATION IN DIABETES: INSULIN ANALOGS EXECUTIVE SUMMARY

Executive Summary DIABETES MELLITUS AND GLUCOSE CONTROL BIOTECHNOLOGY INNOVATION IN DIABETES: INSULIN ANALOGS EXECUTIVE SUMMARY Executive Summary DIABETES MELLITUS AND GLUCOSE CONTROL Diabetes is widely acknwledged as an immense and grwing public health prblem. The disease is assciated with increased risk f death, decreased quality

More information

Welcome to CNIPS Training: CACFP Claim Entry

Welcome to CNIPS Training: CACFP Claim Entry Welcme t CNIPS Training: CACFP Claim Entry General Cmments frm SCN CACFP claiming begins with submissin f the Octber claim due by Nvember 15, 2012. Timelines/Due Dates With CNIPS, SCN will cntinue t enfrce

More information

Within the program, students combine two or more areas of study into one interdisciplinary program. Current program options include:

Within the program, students combine two or more areas of study into one interdisciplinary program. Current program options include: Liberal Studies 2010-11 Prgram Descriptin Eastern Oregn University s Liberal Studies prgram ffers students an pprtunity t devise a persnalized prgram f study in an interdisciplinary apprach relevant t

More information

How Low Will Photovoltaic Prices Go? AN EXPERT DISCUSSION

How Low Will Photovoltaic Prices Go? AN EXPERT DISCUSSION Hw Lw Will Phtvltaic Prices G? AN EXPERT DISCUSSION Please refer t this dcument as: Near Zer,Hw Lw Will Phtvltaic Prices G? An Expert Discussin, Masn Inman, 6 December 2012 (available at: http://www.nearzer.rg/reprts/pv-learning)

More information

FACTS ABOUT THE AUSTRALIAN RETAIL FUELS MARKET & PRICES

FACTS ABOUT THE AUSTRALIAN RETAIL FUELS MARKET & PRICES FACTS ABOUT THE AUSTRALIAN RETAIL FUELS MARKET & PRICES RETAIL PRICES & INFLUENCES The mst imprtant influences n retail fuel prices in Australia are: the internatinal price f refined fuel the exchange

More information

Economic Impact Analysis of Georgia s Aerospace Industry

Economic Impact Analysis of Georgia s Aerospace Industry Ecnmic Impact Analysis f Gergia s Aerspace Industry January 2013 Prepared fr: Center f Innvatin fr Aerspace Gergia Department f Ecnmic Develpment 75 Fifth Street NW, Suite 1200 Atlanta, GA 30308 Prepared

More information

Care Plan Oversight. Home Health Certification. July 23, 2014. Agenda

Care Plan Oversight. Home Health Certification. July 23, 2014. Agenda Care Plan Oversight Hme Health Certificatin July 23, 2014 Agenda Care Plan Oversight Why We Are Prviding the Educatin Prcedure cdes Descriptin f Services Wh Can Perfrm Frequency f Services Face-t-Face

More information

GREEN MOUNTAIN ENERGY COMPANY

GREEN MOUNTAIN ENERGY COMPANY GREEN MOUNTAIN ENERGY COMPANY INDEPENDENT ACCOUNTANT S REPORT ON APPLYING AGREED-UPON PROCEDURES DECEMBER 31, 2012 INDEPENDENT ACCOUNTANT S REPORT ON APPLYING AGREED-UPON PROCEDURES T Green Muntain Energy

More information

INTRODUCTION HIGHLIGHTS AND KEY FINDINGS APRIL 2008

INTRODUCTION HIGHLIGHTS AND KEY FINDINGS APRIL 2008 MEDICARE PRESCRIPTION DRUG PLANS IN 2008 AND KEY CHANGES SINCE 2006: SUMMARY OF FINDINGS Prepared by Jack Hadley i, Elizabeth Hargrave ii, and Juliette Cubanski and Tricia Neuman iii INTRODUCTION APRIL

More information