STATE OF I\EW ME,XICO wr.,

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "STATE OF I\EW ME,XICO wr.,"

Transcription

1 STATE OF \EW ME,XCO wr.,. POJOAQUE VALLEY RRGATON DSTRCT FDEL A. BERNAL, PC CERTTFED PUBLC ACCOUNTANT ALBUQUERQUE, NEW MEXCO

2 l. Sae of New Mexico Pojoaque Valley rrigaion Disric Table of Conens June 30, 2012 Page Official Roser 1 ndependen Accounan's Repor on Applyirrg Agreed-Jpon Procedures Schedule of Revenue, Expenses, Budge and Acual Copy of he year-end financial repor submied o DFA-LGD Schedule of Findings and Recommendaions Exi Conference

3 Sae of New Mexico Pojoaque Valley lrrigaion Disric June 30, 2012 Board of Direcors Chairman Vice Presiden Secreary-Treasurer J. David Oriz Flavio Gurule Horace Roybal -l-

4 FmELA. BpnNAL, p.c. 1108,\L\',\1,\DO Nlj,,\l,BUQLR.QU, NM i Mr. Hecor H Balderas New Mexico Sae Audior and Members of he Board Pojoaque Valley rrigaion Disric Sana Fe, NM NDEPENDENT ACCOUNTANT' S REPORT ON APPLYNG AGREED-UPON PROCEDURES (so5) il,\x (so5) We have performed he procedures enumeraed below, which were agreed o by Pojoaque Valley lrrigaion Disric (PVD), for he year ended June 30,2012, solely o assis you wih respec o he Disric's compliance for a Tier 4 engagemen of Tier 4 of he Audi Ac (Secion 12-6-l NMSA 1978 eseq.). The procedures were agreed o by he Disric hrough he New Mexico Office of he Sae Audior. The Disric's managemen is responsible for he Disric's accouning records. This agreed-upon procedures engagemen was conduced in accordance wih aesaion sandards esablished by he American nsiue of Cerified Public Accounans. The sufficiency of hese procedures is solely he responsibiliy of hose paries specified in he repor. Consequenly, we make no represenaion regarding he suffrciency of he procedures described below, eiher for he purpose for which his repor has been requesed or for any oher purpose. Our procedures and Resuls are as follows: 1. Cash Procedures: a) Deermine wheher bank reconciliaions are being performed in a imely manner and wheher all bank and invesmen saemens for he fiscal year are complee and on-hand. b) Perform a random es of bank reconciliaions for accuracy. Also, race ending balances o he general ledger, supporing documenaion and he financial repors submiued o DFA-Local Governmen Division (DFA-LGD). c) Deermine wheher he local public body's financial insiuions have provided i wih he 50% of pledged collaeral on all uninsured deposis as required by Secion NMSA 1978, NM Public Money Ac, if applicable. Resuls: a) Based on he documens supplied he operaing accoun reconciliaions were done in a imely manner and were complee and on-hand. The reconciliaion for he savings accoun was no compleed. b) Random es of operaing accoun bank reconciliaions revealed no excepions. Traced all ending balances o he general ledger, supporing documens and repors submied o DFA-LGD. However he general ledger and he supporing documens for he savings accoun do no mach. c) The Disric currenly has wo bank accouns. The oal amoun in hese accouns is $15,961. Under he FDC coverage limi of $250,000. See Findin g l2-l Cash Reconciliaion -2- ;

5 TNDEPENDENT ACCOUNTANT'S REPORT ON APPLYNG AGREED-UPON PROCEDURES (coninued) 2. Capial Asses: Procedures: Verify ha he local public body is perflorming a yearly invenory as required by Secion NMSA Resuls: Capial Asses of he Disric include daa processing equipmen, furniure and fixures, and equipmen. The Disric does no have any infrasrucure. The Disric did no perform a yearly invenory and has no official lising of heir capial asses. Finding 10-2 Capial Asses 3. Revenue: denify he naure and amoun of revenue from sources by reviewing he budge, agreemens, rae schedules, and underlying documenaion. Procedures: a) Perlorm an analyical review; es acual revenue compared o budgeed revenue for he year for each ype ofrevenue. Selec a sample of revenues based on audior judgmen and es using he following aribues: b) Amoun recorded in he general ledger agrees o he supporing documenaion and he bank saemen. c) Proper recording of classificaion, amoun, and period per review of supporing documenaion and he general ledger. Perform his revenue work on he same accouning basis ha he local public body keeps is accouning records on, cash basis, modified accrual basis, or accrual basis. Resuls: a) Analyical review and es of he acual revenue cornpared o he budge for he year for each ype of revenue revealed he Disric received more revenue han hey budgeed for by $19,653. b) Tesed $25,947 of he oal revenue of $139,821. All he deposis esed, agreed o he supporing documenaion, bank saemens and he general ledger. c) All deposis were properly recorded in he general ledger. Finding 10-4 Miscoding of Gran Revenue (Resolved) 4. Expendiures Selec a sample of cash disbursemens based on audior judgmen and es using he following aribues: Procedures: a) Deermine ha amoun recorded as disbursed agrees o adequae supporing documenaion. Verify ha amoun, payee, dae and descripion agree o he vendor's invoice, purchase order, conrac and canceled check, as appropriae. -3-

6 NDEPENDENT ACCOUNTANT'S REPORT ON APPLYNG AGREED-UPON PROCEDURES (coninued) b) Deermine ha disbursemens were properly auhorized and approved in compliance wih he budge, legal requiremens and esablished policies and procedures. c) Deermine ha he bid process (or reques for proposal process if applicable), purchase orders, conracs and agreemens were processed in accordance wih he New Mexico procuremen Code (Secion l3-l-28 hrough l3-l-199 NMSA 1978) and Sae Purchasing Regulaions (1.4.1 NMAC) and Regulaions Governing he per Diem and Mileage Ac( NMAC). Resuls: a) There were a oal of 242 disbursemens for he year for a oal of $158,399. We sampled 8l iems ha oaled $101,485. All disbursemens samplei agreed o supporing documenaiois. All agreed o amoun, payee, dae, and descripion o he vendor's invoice, plrchase order, conraci and cancelled check, as appropriae. b) The disbursemens were properly auhorized and in compliance wih he budge, legal requiremens, and esablished policies and procedures. c) There was no need o go ou o bid all purchases were under he hreshold. 5. Journal Enries lf non-rouine journal enries, such as adjusmens or reclassificaions, are posed o he general ledger, a es significan iems for he following aribues: Procedures: a) Journal enries appear reasonable and have supporing documenaion. b) The local public body has procedures ha require journal enries o be reviewed and here is evidence he reviews are being performed. Resuls: a) n he curren fiscal year he Disric uilized journal enries o record payroll axes and oher rouine iems. b)' The Disric's local body does no have procedures in place o review journal enries. See Finding 10-3 Journal Enries 6. Budse Obain he original fiscal year budge and all budge amendmens made hroughou he fiscal year and perform he following: Procedures: a) Verify, hrough a review of he minues and correspondence, ha he original budge and subsequen budge adjusmens were approved by he local public body's governing body and DFA-LGD. b) Deermine if he oal acual expendiures exceeded he final budge a he legal level of budgeary conrol; if so, repor a compliance finding. c) From he original and final approved budges and general ledger, prepare a schedule of revenues and expendiures - budge and acual on he budgeary basis used by he local public body (cash, accrual or modified accrual basis) for each individual fund. -4-

7 NDEPENDENT ACCOUNTANT' S REPORT ON APPLYNG AGREED-UPON PROCEDURES (coninued) Resuls: a) Verified hrough he minues and correspondence ha he Disric's governing body and DFA-LGD. Albuquerque NM Febru ary 20, 2014 original budge was approved by he b) Toal acual expendiures exceeded he final budge a he oal fund level, he legal level of budgeary conrol. c) A schedule of revenues and expendiures o budge and acual was prepared from he DFA- LGD approved budge and he Disrics records on he cash budgeary basis, he basis used by he Disric revealed no excepions. See Findingl2-2 Budge Conrol of Expendiures Oher Procedures f informaion comes o he PA's aenion (regardless of maerialiy) indicaing any fraud, illegal acs, noncompliance, or any inernal conrol deficiencies, disclose in he repor as required by Secion, l NMSA The findings mus include he required conen per Secion ) (3) (C) NMAC. Findines As a resul of applying he procedures described above: a) The Disric did no have surey bonding for he Board Members. b) The Disric did no comply wih submiuing an Agreed Upon Procedures Repor by he due dae. See findings Surey Bond and l0-1 SAO Reporing. We were no engaged o, and did no conduc an audi, he objecive of which would be he expression of an opinion, on he specified elemens, accouns, or iems. Accordingly, we do no express such an opinion. Had we performed addiional procedures, oher maers migh have come o our aenion ha would have been repored o you. This repor is inended solely for he informaion and use of he Sae of New Mexico, Pojoaque Valley rrigaion Disric's Managemen, Governing Board, and he New Mexico Sae Audior's Office, he Deparmen of Finance and Adminisraion-Local Govemmen Division, and he New Mexico Legislaure and is no inended o be and should no be used by anyone oher han hose specified paries. ; -5- ;

8 f Sae of New Mexico Bluewaer Waer and Saniaion Disric PropriearX Fund schedule of Revenues, Expenses Budge and Acual (non-gaap Budgeary Basis) Year ended June 30, 2012 T l. h L h ; Rel'enues: Waer and Sewer ncome NMFA Gran applying for Toal revenues Expenses: Engineering sudy for waer & sewer sysems Wase managemen Office supplies Audi and accouning nsurance Sewer sysem Mileage reimbursemen Training Waer sysem Dues & subscripions Taxes NSF checks & bank charges Legal fees Cusomer deposis Charges for Communiy Toal operaing expenses Excess revenues (loss) over expendiures see accompanying Agreed upon Procedures Repor Original Approved Budge $ 63,366 50,000 $ 23,366 - Final Approved - Budge % $ 205,954 $ 205, ,000 54, ,000 1,670 20, , ,250 1, ,000 3,000 Acual $ 163, ,286 50, , ,286 50,000 54,000 33,000 1,670 20, , ,250 1, ,000 3,000 50,457 27,162 5,456 1,670 2l,81 8 2,176 1,082 40, , ,610 Variance Favorable (Unfavorable) $ ( l o,o8o) (50,000) (60,080) 50,000 3,543 5,83 8 (5,456) (r,sr8) (1,576) (3 82) ( 10,3 82) (56) 4, (223) 950 (1,610) 161,849 44,005 (8,563) s ( 6,075)

9 l l T i i July 12, lsaac Monioya Firiirrrcial Coordinaor l..oca Governnren Division Deg. of Finance & Adnrinisi;-aion Baaan l',4emorial llldg., Suie 201 Sana Fe, Nl\ Dear ivl r. lv'lonoya: POJOAQUE VALLEY RRGATON DSTRCT 11 W GUTERREZ, BOX SANTA FE, NEW MEXCO 875C6 PHON E: (s0s) 4ss-25e3 lhe following is he e.uarerry Financial Repor for he period ending June 30, 2012 July i, 20 L June 30, 2Cj.Z" rfcr-\! rbrrq -!.\..rir\\-l'--, fash Baiance n DDDn,rn n, r r \,,/ v l_u qij DgEr 9,673,00 Accfs -iec i\,,able 1, Fiegillai- i'rssssirleni:; 76,g;]1.51 ijla Assessmens *g,520 g0 Darn Repyr.nenf [xr;i -O rcjina ry Exp. Ca p;ia r\p pro ilria io n:; BUQSH sl3rus 3,70) [uqlsrl_qil-gse_ry AppRov[D BUPqE D l L\-L! rre\ re- U _L 1, ,64ii',.C0?3,6.+0.C0 3, ?,3C0.Oil 6, L,C D.l Alr-r.JT'\LFT Lf 3,08.00 Sr-ii:^ioal s73,100.0c EXPrN DTU RES ]/AR,ANCE TO DATE 5a la ries $50,,i00.00 $ 50,zloo.oo Salarie s (Dam -l-endcri C0 3,4 BC,Cil i. 5?0 c0 PR;\ 4,500.c C0 < 10.00>, Payrail Taxes 6,O,r0.00 5,262 C ileci.o n 500.c CiO Or-rice 5'rpplies 7 5A.CA :1,:i02,c0 <_142.Ci0> O iiir"e i-lip 200 { _00 Pos;rge 600 c0 519.C0 < 19.00> ,4!?.00

10 ;ui,i i J, 20i 2?CJOAQU ir RiGATO ri D S"TF.CT QUARTRLY FiNACAL RPOBT {CCNTi.JLT Di PACE 2 BUD6T C.{TTGORY A.P PROViD BU DG TT xpll'l DiTU R F( TO DATT,ARl.&l,jc i-r iiiies ja nioriai Bui lding lia in e nancf Bure au of Rscian"laicn o&,\cl SJC liureau *f Reclamaion O&},rr lr,lambe Dam Office Machine lra in. Audi Uiliies-Nambe Darn Mileage {Darn Tender) Nambe Dam Supplies Darn Repaymen Dich Maerials Jd *ei;-rs [xpense Tra in ing [xpens* llam TEnrJer Heip [xra-ordi na ry-, D*m [x p, 3, Z$C.il,} *00 il0 750.C0 5 2l.oil,io L1,g*s,c ,000.0s l-, , ,C3fi"*uJ $il0.011,sc0.rls 3,700.s0 a. -u- -0-3,1"Srr.,3il 3&3.{)0 _ij- 15,12"5 _0* 11.g0*"0$ 923.0$ -* , ,7DCr.C)0 _il- 72$^*0 1?fi.Cil i1 U 3.30i)"ii* 4S"0* 17 lo 750.C0 5,375.()0 n -L'l- <123.0fi> 6,000^ S0 48_ {}- 3 60"{}0 72"1-00 4ilO.{:j0 *:30.3J0.0G> TOTAL $ rrg,3rj,jo ii!{f,f-8l}.ss { $12,750.C0} lf you ha're afiy qr-rssi*ns, feel free r: c*il rr:e a 45s-2h.3:j F,VD Clffiq:e N{anagrr- -B-

11 juiy i J, 20i 2 PCjOAQU ir RiGr\TC 'i D s"f,il CT QU;lRrrRLY rinailcal RpoBT {ccnti.jlr Di PAGE 2 B U }6 T C.{TrGO RY A.P PROVil BUDGT rxpli'j DiTU R rc TO DATT,AR l.&,jc Liiriies ja nic r ia i Building u'ra ine na nce Bureau of Rscianraiorr 3, Z$C.S C.OU 3,1"5rr.,],* 3&3.{)0 -ij- 4S.0* 17. ( C0 O &,\il SJC Sureau of Reclamaion 0&l,rl lriambe Dam Office Machine Main. Audi Uiliies-Nambe Darn Mileage {Darn Ten,Jer} Nambe Dam Supplies Darrr Repaymenr Dich Maerials ly'leeing fxpense Tra in ing [xpens* Dam TEnrJer i-ieip [xra-ordinary Dam [xp il,n0 11,800,C0 8C0_S0 6,000.0s 1., , ,,C3*"0* g]0.011,sc0.*s 3,700,fi0 -s ,1-25 "0' 11,90*.0) 923.C$ -*- 1..s , $^*S 1?&.Cil 3,70{i.Cr0 -l- -{1- \J *q*,3gs^** 5, $7 5.U0-0- <123,0fi> 6,000^ S0 48_ C]- 3 SC"{}0 72"1,00.*.{:j0 {30.3J0.0G} TOTAL $ :9,3s{J,}o fi 14?,fJ8$.SS < $ 2,7scl.os> if yau h;'re ary qr:rsricns, filel free r: c*il r:re a 455-?hg:J Cf-fiq:e ar:agrr' r,vln -B-

12 * PRJOR YEAR FNDNGS: 0-i-l Surey Bond l0-l SAO Reporing l0-z Capial Asses l0-3 Journal Enries l0-4 Miscoding of Gran Revenue CURRENT YEAR FNDNGS: 05-1 Surey Bond (Repeaed) Sae of New Mexico Pojoaque Valley rrigaion Disric Schedule of Findings and Responses June 30,2012 Condiion The Disric does no have bonding for Board Members. Repeaed Repeaed Repeaed Modified and Repeaed Resolved Crieria New Mexico Saues (Secion , NMSA 1978) requires a bond on each member of he Board of Direcors in he amoun of $3,000. Cause The Disric has no been able o find an insurance carrier ha can mee he bonding needs wihin a reasonable fee. Effec The Disric is no in compliance wih Sae Saue and here is an increased risk of loss for Board Members. Recommendaion Th. Dii" *y be able o find affordable coverage by consuling wih oher similar eniies. Alernaively, he Disric should consider increasing assessmens o cover he increased cos. The Disric should purchase he necessary bond in order o comply wih Sae Saue and preven furher audi findings relaing o bonding of Board Members. Eniv Response The Disric has aemped o obain affordable coverage, bu has been unable o do so. The Disric obained coverage on January 13,

13 i S-{O Reporing (Reoeaed) Sae of l[ew Mexico Pojoaque Vallel' rrigaion Disric Schedule of Findings and Responses-coninued June 30,2012 Condiion The Disric did no 1bmr1 is Tier 4 Agreed upon Procedures repor for he year ended June 30, 20 2by he due dae. li, T * Crieria The New Mexico Sae Audior Procedures repors be submied (d)) rules require ha Special Disric Tier 4 Agrees Upon by December ' of each year. (sao Rule z.z.z.g A (l) Cause The Disric was unable o submi he June 30,2a12, Tier 4 Agrees Upon procedures Repor because an audior was no reained unil Nove mber 20,2013 Effec The Disric is no in compliance wih he New Mexico Sae Audior Rules and Regulaions. Recommendaion The Disric needs o ensure ha all fuure audi repors are filed in a imely manner. Eniv Resoonse Concur he Board of Direcors is working on procedures o resolve finding and ge all fuure repors compleed in a imely manner. -10-

14 Sae of New Mexico Pojoaque Valley lrrigaion Disric Schedule of Findings and Responses-coninued June 30, zvn l0-l Capial Asses (Repeaed) Condiion The Disric does no mainain a hisorical lising of capial asses by ype and locaion, i.e.: buildings, furniure and fixures. Nor does he Disric ake and annual physical coun of is asses. Crieria Sound accouning and conrol procedures require ha deailed lisings of asses be mainained o properly accoun for and safeguard all he asses of he Dirri. ( NMSA 1978). Cause No formal records of he capial asses were ever mainained. Effec Wihou he accouning and conrol procedures over he asses acquired, here is he possibiliy ha asses are no being accouned for properly on he financial records and here is he possibiliy ha asses could be misplaced, los or solen. Recommendaion All asses should be properly accouned for and should be documened on a schedule of propery, plan and equipmen. The deailed propery, plan and equipmen lising should be reconciled o he general ledger on a periodic basis. Eniv Response The Disric will become familiar wih Secion so hey can come ino compliance on invenory and asse managemen maers. -l l-

15 T * l0-3 Sae of New Mexico Pojoaque valley lrrigaion Disric Schedule of Findings and Responses-coninued June 30, ZAD Condiion n he curren fiscal year he Disric did no perform any non-rouine journal enries. However, he Disric has no pu procedures in place for he r.ri.* "il"r*rr enries. Crieria Secion B (4) NMSA 1978 and secion NMAC 20ll Agreed Upon Procedures Tier 4 orine Audi Ac saes ha agencies shall have procedures in place o review journal enries, be reasonable and have sulporing documenaion. Cause The Disric was no aware hey had o have procedures in place o review he journal enries. Effec The Disric is no in compliance wih sae saues and he 2012 Agreed upon procedures Tier 4 of he Audi Ac. Recommendaion The Disric should pu procedures in place o review joumal enries. Eniy Response Concur he Disric will pu procedures in place o review journal enries. -12-

16 i f l2-1 Cash Reconciliaions Sae of New Mexico Pojoaque Valley lrrigaion Disric Schedule of Findings and Responses-coninued June 30, 2012 Condiion The Disric did no prepare bank reconciliaions for he savings accoun. Crieria Sound accouning and conrol procedures require ha he Disric mainain an accurae cash balance o properly accoun for all public money (20}6NMSA Secion ). Cause Bank accouns were no reconciled or mainained. Effec Wihou he accouning and conrol procedures over he bank accouns, here is he possibiliy ha he cash is no being accouned for properly on he financial records and here is he possibiliy ha money could be misplaced, los or solen. Recommendaion All bank accouns should be properly reconciled in a imely manner and should be reconciled o he general ledger. Response Concur he Disric will pu procedures in place o perform reconciliaions in a imely manner of he savings accoun, and reconcile o he general ledger. -13-

17 Sae of hlew Mexico Pojoaque Valley lrrigaion Disric Schedule of Findings and Responses-coninued June 30, 2012 l2-2 Budge conrol of expendiures Condiion: The Disric overspen he budge in oal in he amoun oaling $12,750. (Secion 6-6-6; NMSA 1978): Crieria: The auhoriy by which he Disric can spend money is he Commission and DFA approved budge (Secion 6-6-6;NMSA 1973). Effec: Overspending of he budge is a violaion of applicable laws, regulaions and policies esablished by he Sae, Disric and DFA, which could impac fuure budge approvals. Cause: The Disric had exra ordinary dam expenses ha were no budgeed for. l n n Recommendaion: We recommend ha The Disric comply wih Sae Saues and work wihin he limis of heir budge. f necessary a budge adjusmen reques should be requesed on a imely basis prior o exceeding he budgeed expendiure. Agency Response: The Disric concurs wih he Audior's recormendaions and in he fuure will reques a budge adjusmen in a imely manner prior o he year end o eliminae his problem. -14-

18 Sae of New Mexico Pojoaque valey rrigaion Disric Exi Conference June 30, Z0lz Exi Conference An exi conference was held on February 2A,2Al4: Represening Pojoaque valley rrigaion Disric was: David Oriz, Chairman Flavio Gurule, Vice Chairman Represening he firm of Fidel A. Bernal, p.c. was: Fidel A. Bernal, CpA i il il -15-

Reporting to Management

Reporting to Management CHAPTER 31 Reporing o Managemen Inroducion The success or oherwise of any business underaking depends primarily on earning revenue ha would generae sufficien resources for sound growh. To achieve his objecive,

More information

Grant Application Format

Grant Application Format Gran Applicaion Forma Organizaions applying for Gran are requesed o submi his applicaion along wih he projec proposal o: The Program Manager Coca-Cola India Foundaion Enkay Towers, Udyog Vihar Phase V

More information

The Grantor Retained Annuity Trust (GRAT)

The Grantor Retained Annuity Trust (GRAT) WEALTH ADVISORY Esae Planning Sraegies for closely-held, family businesses The Granor Reained Annuiy Trus (GRAT) An efficien wealh ransfer sraegy, paricularly in a low ineres rae environmen Family business

More information

Performance Center Overview. Performance Center Overview 1

Performance Center Overview. Performance Center Overview 1 Performance Cener Overview Performance Cener Overview 1 ODJFS Performance Cener ce Cener New Performance Cener Model Performance Cener Projec Meeings Performance Cener Execuive Meeings Performance Cener

More information

Morningstar Investor Return

Morningstar Investor Return Morningsar Invesor Reurn Morningsar Mehodology Paper Augus 31, 2010 2010 Morningsar, Inc. All righs reserved. The informaion in his documen is he propery of Morningsar, Inc. Reproducion or ranscripion

More information

STATE OF NEW MEXICO NOGAL MUTUAL DOMESTIC WATER CONSUMERS ASSOCIATION Independent Accountants' Report On Applying Agreed-Upon Procedures Year Ended

STATE OF NEW MEXICO NOGAL MUTUAL DOMESTIC WATER CONSUMERS ASSOCIATION Independent Accountants' Report On Applying Agreed-Upon Procedures Year Ended STATE OF NEW MEXICO NOGAL MUTUAL DOMESTIC WATER CONSUMERS ASSOCIATION Independent Accountants' Report On Applying Agreed-Upon Procedures Year Ended December 31, 2012 STATE OF NEW MEXICO NOGAL MUTUAL DOMESTIC

More information

Double Entry System of Accounting

Double Entry System of Accounting CHAPTER 2 Double Enry Sysem of Accouning Sysem of Accouning \ The following are he main sysem of accouning for recording he business ransacions: (a) Cash Sysem of Accouning. (b) Mercanile or Accrual Sysem

More information

Appendix D Flexibility Factor/Margin of Choice Desktop Research

Appendix D Flexibility Factor/Margin of Choice Desktop Research Appendix D Flexibiliy Facor/Margin of Choice Deskop Research Cheshire Eas Council Cheshire Eas Employmen Land Review Conens D1 Flexibiliy Facor/Margin of Choice Deskop Research 2 Final Ocober 2012 \\GLOBAL.ARUP.COM\EUROPE\MANCHESTER\JOBS\200000\223489-00\4

More information

If You Are No Longer Able to Work

If You Are No Longer Able to Work If You Are No Longer Able o Work NY STRS A Guide for Making Disabiliy Reiremen Decisions INTRODUCTION If you re forced o sop working because of a serious illness or injury, you and your family will be

More information

Markit Excess Return Credit Indices Guide for price based indices

Markit Excess Return Credit Indices Guide for price based indices Marki Excess Reurn Credi Indices Guide for price based indices Sepember 2011 Marki Excess Reurn Credi Indices Guide for price based indices Conens Inroducion...3 Index Calculaion Mehodology...4 Semi-annual

More information

SHB Gas Oil. Index Rules v1.3 Version as of 1 January 2013

SHB Gas Oil. Index Rules v1.3 Version as of 1 January 2013 SHB Gas Oil Index Rules v1.3 Version as of 1 January 2013 1. Index Descripions The SHB Gasoil index (he Index ) measures he reurn from changes in he price of fuures conracs, which are rolled on a regular

More information

SKF Documented Solutions

SKF Documented Solutions SKF Documened Soluions Real world savings and we can prove i! How much can SKF save you? Le s do he numbers. The SKF Documened Soluions Program SKF is probably no he firs of your supplier parners o alk

More information

STATE OF NEW MEXICO NOGAL MUTUAL DOMESTIC WATER CONSUMERS ASSOCIATION Independent Accountants' Report On Applying Agreed-Upon Procedures Year Ended

STATE OF NEW MEXICO NOGAL MUTUAL DOMESTIC WATER CONSUMERS ASSOCIATION Independent Accountants' Report On Applying Agreed-Upon Procedures Year Ended NOGAL MUTUAL DOMESTIC WATER CONSUMERS ASSOCIATION Independent Accountants' Report On Applying Agreed-Upon Procedures Year Ended December 31, 2011 DECEMBER 31, 2011 TABLE OF CONTENTS Title Page Table Of

More information

Chapter 1.6 Financial Management

Chapter 1.6 Financial Management Chaper 1.6 Financial Managemen Par I: Objecive ype quesions and answers 1. Simple pay back period is equal o: a) Raio of Firs cos/ne yearly savings b) Raio of Annual gross cash flow/capial cos n c) = (1

More information

Product Operation and Setup Instructions

Product Operation and Setup Instructions A9 Please read and save hese insrucions. Read carefully before aemping o assemble, insall, operae, or mainain he produc described. Proec yourself and ohers by observing all safey informaion. Failure o

More information

California High School Exit Examination. Local Educational Agency and Test Site Coordinator s Manual July 2014 May 2015

California High School Exit Examination. Local Educational Agency and Test Site Coordinator s Manual July 2014 May 2015 California High School Exi Examinaion Local Educaional Agency and es Sie Coordinaor s Manual July May C o n a c I n f o r m a i o n California High School Exi Examinaion (CAHSEE) Suppor and Processing

More information

GUIDE GOVERNING SMI RISK CONTROL INDICES

GUIDE GOVERNING SMI RISK CONTROL INDICES GUIDE GOVERNING SMI RISK CONTROL IND ICES SIX Swiss Exchange Ld 04/2012 i C O N T E N T S 1. Index srucure... 1 1.1 Concep... 1 1.2 General principles... 1 1.3 Index Commission... 1 1.4 Review of index

More information

The Complete VoIP Telecom Service Provider The Evolution of a SIP Trunking Provider

The Complete VoIP Telecom Service Provider The Evolution of a SIP Trunking Provider The Complee VoIP Telecom Service Provider The Evoluion of a SIP Trunking Provider By: Sean Rivers Direcor of Technology parner Assurance 1 Agenda Who is Bandwidh.com Today Before VoIP The Addiion of VoIP

More information

Child Protective Services. A Guide To Investigative Procedures

Child Protective Services. A Guide To Investigative Procedures Child Proecive Services A Guide To Invesigaive Procedures The purpose of his brochure is o help you undersand he Child Proecive Services (CPS) reporing and response process. Please conac your CPS worker

More information

Impact of scripless trading on business practices of Sub-brokers.

Impact of scripless trading on business practices of Sub-brokers. Impac of scripless rading on business pracices of Sub-brokers. For furher deails, please conac: Mr. T. Koshy Vice Presiden Naional Securiies Deposiory Ld. Tradeworld, 5 h Floor, Kamala Mills Compound,

More information

1. Fund types and population covered

1. Fund types and population covered Performance and financial overview of invesmen funds - France 1 March 016 The Banque de France draws up he following informaion for invesmen funds: 1 monhly saisics on fund ousandings and flows, and on

More information

Establishing Prefabricated Wood I-Joist Composite EI

Establishing Prefabricated Wood I-Joist Composite EI July 008 Esablishing Prefabricaed Wood I- Composie EI INTRODUCTION Composie (glued/nailed) floors are common in boh residenial and commercial consrucion, and have been successfully designed by Prefabricaed

More information

REGULATIONS OF THE COMPLIANCE UNIT 21/07/15

REGULATIONS OF THE COMPLIANCE UNIT 21/07/15 REGULTIONS OF THE COMPLINCE UNIT /07/5 5 CONTENT TITLE I. NTURE, OBJECT, ND MENDMENT ricle. Naure and Objec ricle. mendmen TITLE II. COMPOSITION ricle. Composiion and Posiions ricle 4. Direcor of Compliance

More information

FINANCIAL AID. The law suspends aid eligibility for students convicted under federal or state law of sale or possession

FINANCIAL AID. The law suspends aid eligibility for students convicted under federal or state law of sale or possession FINANCIAL AID The mission of he Office of Financial Aid and Scholarships is o assis sudens in obaining funds o achieve heir educaional poenial. The universiy provides assisance o sudens hrough hree basic

More information

strategy T R U LY P E R S O N A L I Z E D

strategy T R U LY P E R S O N A L I Z E D Fund Selec Premier sraegy T R U LY P E R S O N A L I Z E D Invesing for your presen and fuure financial needs can seem overwhelming. I shouldn be, and i doesn have o be. Implemening a well-conceived invesmen

More information

The Interest Rate Risk of Mortgage Loan Portfolio of Banks

The Interest Rate Risk of Mortgage Loan Portfolio of Banks The Ineres Rae Risk of Morgage Loan Porfolio of Banks A Case Sudy of he Hong Kong Marke Jim Wong Hong Kong Moneary Auhoriy Paper presened a he Exper Forum on Advanced Techniques on Sress Tesing: Applicaions

More information

Cable & Wireless Jamaica s Price Cap Plan

Cable & Wireless Jamaica s Price Cap Plan Office of Uiliies Regulaion Cable & Wireless Jamaica s Price Cap Plan Deerminaion Noice 2001 Augus 1 Absrac Cable and Wireless Jamaica (C&WJ) has radiionally been regulaed under a rae of reurn regime.

More information

LEASING VERSUSBUYING

LEASING VERSUSBUYING LEASNG VERSUSBUYNG Conribued by James D. Blum and LeRoy D. Brooks Assisan Professors of Business Adminisraion Deparmen of Business Adminisraion Universiy of Delaware Newark, Delaware The auhors discuss

More information

Why Did the Demand for Cash Decrease Recently in Korea?

Why Did the Demand for Cash Decrease Recently in Korea? Why Did he Demand for Cash Decrease Recenly in Korea? Byoung Hark Yoo Bank of Korea 26. 5 Absrac We explores why cash demand have decreased recenly in Korea. The raio of cash o consumpion fell o 4.7% in

More information

Impact of Debt on Primary Deficit and GSDP Gap in Odisha: Empirical Evidences

Impact of Debt on Primary Deficit and GSDP Gap in Odisha: Empirical Evidences S.R. No. 002 10/2015/CEFT Impac of Deb on Primary Defici and GSDP Gap in Odisha: Empirical Evidences 1. Inroducion The excessive pressure of public expendiure over is revenue receip is financed hrough

More information

SEB Commodity Sector Index Series. Index Rules January 2014

SEB Commodity Sector Index Series. Index Rules January 2014 EB Commodiy ecor ndex eries ndex Rules January 2014 PART A 1. nroducion 1.1 ndex Descripion The EB Commodiy ecor ndex eries (The ndices ) is a family of benchmark indices ha covers all he major commodiy

More information

S&P 500 Dynamic VIX Futures Index Methodology

S&P 500 Dynamic VIX Futures Index Methodology S&P 500 Dynamic VIX Fuures Index Mehodology April 2014 S&P Dow Jones Indices: Index Mehodology Table of Conens Inroducion 2 Highlighs 2 Family 2 Index Consrucion 3 Consiuens 3 Allocaions 3 Excess Reurn

More information

NASDAQ-100 Futures Index SM Methodology

NASDAQ-100 Futures Index SM Methodology NASDAQ-100 Fuures Index SM Mehodology Index Descripion The NASDAQ-100 Fuures Index (The Fuures Index ) is designed o rack he performance of a hypoheical porfolio holding he CME NASDAQ-100 E-mini Index

More information

CAPt. Print e-procurement: Changing the Face of the Printing Industry CAP VENTURES. Market Forecast for Web-Based Print e-procurement

CAPt. Print e-procurement: Changing the Face of the Printing Industry CAP VENTURES. Market Forecast for Web-Based Print e-procurement Prin e-procuremen: Changing he Face of he Prining Indusry Marke Forecas for Web-Based Prin e-procuremen Buyers Crieria for Web Procuremen Opporuniies and Advanages for Prin Service Providers Profiles of

More information

TSG-RAN Working Group 1 (Radio Layer 1) meeting #3 Nynashamn, Sweden 22 nd 26 th March 1999

TSG-RAN Working Group 1 (Radio Layer 1) meeting #3 Nynashamn, Sweden 22 nd 26 th March 1999 TSG-RAN Working Group 1 (Radio Layer 1) meeing #3 Nynashamn, Sweden 22 nd 26 h March 1999 RAN TSGW1#3(99)196 Agenda Iem: 9.1 Source: Tile: Documen for: Moorola Macro-diversiy for he PRACH Discussion/Decision

More information

As your trusted banking partner, Hang Seng Bank is committed to helping your company achieve success with a full range of solutions for your business

As your trusted banking partner, Hang Seng Bank is committed to helping your company achieve success with a full range of solutions for your business As your rused banking parner, Hang Seng Bank is commied o helping your company achieve success wih a full range of soluions for your business needs and joinly provides qualiy and affordable group medical

More information

USE OF EDUCATION TECHNOLOGY IN ENGLISH CLASSES

USE OF EDUCATION TECHNOLOGY IN ENGLISH CLASSES USE OF EDUCATION TECHNOLOGY IN ENGLISH CLASSES Mehme Nuri GÖMLEKSİZ Absrac Using educaion echnology in classes helps eachers realize a beer and more effecive learning. In his sudy 150 English eachers were

More information

S&P GSCI Crude Oil Covered Call Index Methodology

S&P GSCI Crude Oil Covered Call Index Methodology S&P GSCI Crude Oil Covered Call Index Mehodology July 2014 S&P Dow Jones Indices: Index Mehodology Table of Conens Inroducion 3 Highlighs 3 The S&P GSCI Crude Oil Covered Call Index Mehodology 3 Definiions

More information

TOI: H02I Individual Health - Accident Only Sub-TOI: H02I.000 Health - Accident Only Application for Accidental Death Policy/UAIN-TAP(03)

TOI: H02I Individual Health - Accident Only Sub-TOI: H02I.000 Health - Accident Only Application for Accidental Death Policy/UAIN-TAP(03) TOI: H02I Individual Healh - Acciden Only Sub-TOI: H02I.000 Healh - Acciden Only Produc Name: Projec Name/Number: / Filing a a Glance Company: Unied American Insurance Company Produc Name: Applicaion for

More information

The Application of Multi Shifts and Break Windows in Employees Scheduling

The Application of Multi Shifts and Break Windows in Employees Scheduling The Applicaion of Muli Shifs and Brea Windows in Employees Scheduling Evy Herowai Indusrial Engineering Deparmen, Universiy of Surabaya, Indonesia Absrac. One mehod for increasing company s performance

More information

OPERATION MANUAL. Indoor unit for air to water heat pump system and options EKHBRD011ABV1 EKHBRD014ABV1 EKHBRD016ABV1

OPERATION MANUAL. Indoor unit for air to water heat pump system and options EKHBRD011ABV1 EKHBRD014ABV1 EKHBRD016ABV1 OPERAION MANUAL Indoor uni for air o waer hea pump sysem and opions EKHBRD011ABV1 EKHBRD014ABV1 EKHBRD016ABV1 EKHBRD011ABY1 EKHBRD014ABY1 EKHBRD016ABY1 EKHBRD011ACV1 EKHBRD014ACV1 EKHBRD016ACV1 EKHBRD011ACY1

More information

Molding. Injection. Design. GE Plastics. GE Engineering Thermoplastics DESIGN GUIDE

Molding. Injection. Design. GE Plastics. GE Engineering Thermoplastics DESIGN GUIDE apple GE Plasics GE Engineering Thermoplasics DESIGN GUIDE Wall Thickness Paring Lines Ejecion Appearance Pars Ribs/Gusses Bosses Holes Depressions Radii, Filles and Corners Molding Design Injecion s for

More information

The Transport Equation

The Transport Equation The Transpor Equaion Consider a fluid, flowing wih velociy, V, in a hin sraigh ube whose cross secion will be denoed by A. Suppose he fluid conains a conaminan whose concenraion a posiion a ime will be

More information

BALANCE OF PAYMENTS. First quarter 2008. Balance of payments

BALANCE OF PAYMENTS. First quarter 2008. Balance of payments BALANCE OF PAYMENTS DATE: 2008-05-30 PUBLISHER: Balance of Paymens and Financial Markes (BFM) Lena Finn + 46 8 506 944 09, lena.finn@scb.se Camilla Bergeling +46 8 506 942 06, camilla.bergeling@scb.se

More information

IR Receiver Module for Light Barrier Systems

IR Receiver Module for Light Barrier Systems IR Receiver Module for Ligh Barrier Sysems MECHANICAL DATA Pinning: 1 = OUT, 2 = GND, 3 = V S 19026 APPLICATIONS Reflecive sensors for hand dryers, owel or soap dispensers, waer fauces, oile flush Vending

More information

MSCI Index Calculation Methodology

MSCI Index Calculation Methodology Index Mehodology MSCI Index Calculaion Mehodology Index Calculaion Mehodology for he MSCI Equiy Indices Index Mehodology MSCI Index Calculaion Mehodology Conens Conens... 2 Inroducion... 5 MSCI Equiy Indices...

More information

PROFIT TEST MODELLING IN LIFE ASSURANCE USING SPREADSHEETS PART ONE

PROFIT TEST MODELLING IN LIFE ASSURANCE USING SPREADSHEETS PART ONE Profi Tes Modelling in Life Assurance Using Spreadshees PROFIT TEST MODELLING IN LIFE ASSURANCE USING SPREADSHEETS PART ONE Erik Alm Peer Millingon 2004 Profi Tes Modelling in Life Assurance Using Spreadshees

More information

MITEL NETWORKS CORPORATION CONSOLIDATED BALANCE SHEETS (in millions of US dollars) (unaudited) December 31, December 31, 2015 2014

MITEL NETWORKS CORPORATION CONSOLIDATED BALANCE SHEETS (in millions of US dollars) (unaudited) December 31, December 31, 2015 2014 CONSOLIDATED BALANCE SHEETS,, 5 ASSETS Curren asses: Cash and cash equivalens.. Accouns receivable..5 Sales-ype lease receivables.. Invenories.. Oher curren asses 5. 5. 5. 5. curren porion of sales-ype

More information

Relationships between Stock Prices and Accounting Information: A Review of the Residual Income and Ohlson Models. Scott Pirie* and Malcolm Smith**

Relationships between Stock Prices and Accounting Information: A Review of the Residual Income and Ohlson Models. Scott Pirie* and Malcolm Smith** Relaionships beween Sock Prices and Accouning Informaion: A Review of he Residual Income and Ohlson Models Sco Pirie* and Malcolm Smih** * Inernaional Graduae School of Managemen, Universiy of Souh Ausralia

More information

UNIFIED TARIFFS FOR SERVICES AND TRANSACTIONS FOR PI IN NATIONAL AND FOREIGN CURRENCY AT PJSC "CREDIT AGRICOLE BANK" (except card accounts)

UNIFIED TARIFFS FOR SERVICES AND TRANSACTIONS FOR PI IN NATIONAL AND FOREIGN CURRENCY AT PJSC CREDIT AGRICOLE BANK (except card accounts) Approved by he Tariff Commiee Resoluion 6 dd. 02.06.2014 (wih amendmens and supplemens dd. 03.07.2015) UNIFIED TARIFFS FOR SERVICES AND TRANSACTIONS FOR PI IN NATIONAL AND FOREIGN CURRENCY AT PJSC "CREDIT

More information

Making Use of Gate Charge Information in MOSFET and IGBT Data Sheets

Making Use of Gate Charge Information in MOSFET and IGBT Data Sheets Making Use of ae Charge Informaion in MOSFET and IBT Daa Shees Ralph McArhur Senior Applicaions Engineer Advanced Power Technology 405 S.W. Columbia Sree Bend, Oregon 97702 Power MOSFETs and IBTs have

More information

LOC # BLD # STREET, CITY, COUNTY, STATE, ZIP+4 CITY LIMITS INTEREST YR BUILT PART OCCUPIED OUTSIDE TENANT

LOC # BLD # STREET, CITY, COUNTY, STATE, ZIP+4 CITY LIMITS INTEREST YR BUILT PART OCCUPIED OUTSIDE TENANT M COMMERCIAL INSURANCE APPAION APPAN INFORMAION SECION AGENCY NAIC CODE: UNDERWRIER FAX (A/C, No.): POIES OR PROGRAM REQUESED POY NUMBER UNDERWRIER OFF. CODE: AGENCY CUSOMER ID: SAUS OF RANSACION SUB CODE:

More information

Distributing Human Resources among Software Development Projects 1

Distributing Human Resources among Software Development Projects 1 Disribuing Human Resources among Sofware Developmen Proecs Macario Polo, María Dolores Maeos, Mario Piaini and rancisco Ruiz Summary This paper presens a mehod for esimaing he disribuion of human resources

More information

NYWEA Asset Management Task Force White Paper

NYWEA Asset Management Task Force White Paper The New York Waer Environmen Associaion, Inc. The Waer Qualiy Professionals 525 Plum Sree Suie 102 Syracuse, New York 13204 (315) 422-7811 Fax: 422-3851 www.nywea.org e-mail: pcr@nywea.org NYWEA Asse Task

More information

What is a swap? A swap is a contract between two counter-parties who agree to exchange a stream of payments over an agreed period of several years.

What is a swap? A swap is a contract between two counter-parties who agree to exchange a stream of payments over an agreed period of several years. Currency swaps Wha is a swap? A swap is a conrac beween wo couner-paries who agree o exchange a sream of paymens over an agreed period of several years. Types of swap equiy swaps (or equiy-index-linked

More information

CAREER MAP HOME HEALTH AIDE

CAREER MAP HOME HEALTH AIDE CAREER MAP HOME HEALTH AIDE CAREER MAP HOME HEALTH AIDE Home healh aides are one of he fases growing jobs in New York Ciy. Wih more educaion, home healh aides can move ino many oher ypes of jobs in healh

More information

CALCULATION OF OMX TALLINN

CALCULATION OF OMX TALLINN CALCULATION OF OMX TALLINN CALCULATION OF OMX TALLINN 1. OMX Tallinn index...3 2. Terms in use...3 3. Comuaion rules of OMX Tallinn...3 3.1. Oening, real-ime and closing value of he Index...3 3.2. Index

More information

CLASSIFICATION OF REINSURANCE IN LIFE INSURANCE

CLASSIFICATION OF REINSURANCE IN LIFE INSURANCE CLASSIFICATION OF REINSURANCE IN LIFE INSURANCE Kaarína Sakálová 1. Classificaions of reinsurance There are many differen ways in which reinsurance may be classified or disinguished. We will discuss briefly

More information

Market Liquidity and the Impacts of the Computerized Trading System: Evidence from the Stock Exchange of Thailand

Market Liquidity and the Impacts of the Computerized Trading System: Evidence from the Stock Exchange of Thailand 36 Invesmen Managemen and Financial Innovaions, 4/4 Marke Liquidiy and he Impacs of he Compuerized Trading Sysem: Evidence from he Sock Exchange of Thailand Sorasar Sukcharoensin 1, Pariyada Srisopisawa,

More information

The Greek financial crisis: growing imbalances and sovereign spreads. Heather D. Gibson, Stephan G. Hall and George S. Tavlas

The Greek financial crisis: growing imbalances and sovereign spreads. Heather D. Gibson, Stephan G. Hall and George S. Tavlas The Greek financial crisis: growing imbalances and sovereign spreads Heaher D. Gibson, Sephan G. Hall and George S. Tavlas The enry The enry of Greece ino he Eurozone in 2001 produced a dividend in he

More information

C Fast-Dealing Property Trading Game C

C Fast-Dealing Property Trading Game C AGES 8+ C Fas-Dealing Propery Trading Game C Y Collecor s Ediion Original MONOPOLY Game Rules plus Special Rules for his Ediion. CONTENTS Game board, 6 Collecible okens, 28 Tile Deed cards, 16 Wha he Deuce?

More information

Individual Health Insurance April 30, 2008 Pages 167-170

Individual Health Insurance April 30, 2008 Pages 167-170 Individual Healh Insurance April 30, 2008 Pages 167-170 We have received feedback ha his secion of he e is confusing because some of he defined noaion is inconsisen wih comparable life insurance reserve

More information

MACROECONOMIC FORECASTS AT THE MOF A LOOK INTO THE REAR VIEW MIRROR

MACROECONOMIC FORECASTS AT THE MOF A LOOK INTO THE REAR VIEW MIRROR MACROECONOMIC FORECASTS AT THE MOF A LOOK INTO THE REAR VIEW MIRROR The firs experimenal publicaion, which summarised pas and expeced fuure developmen of basic economic indicaors, was published by he Minisry

More information

Index Methodology - Equities. 18 December 2015

Index Methodology - Equities. 18 December 2015 Index Mehodology - Equiies 18 December 2015 Table of conens INTRODUCTION... 4 1.1 BACKGROUND... 4 1.2 THE INDEX FAMILY... 4 1.3 INFORMATION POLICY AND INDEX GOVERNANCE... 4 1.3.1 Producs Team... 5 1.3.2

More information

Premium Income of Indian Life Insurance Industry

Premium Income of Indian Life Insurance Industry Premium Income of Indian Life Insurance Indusry A Toal Facor Produciviy Approach Ram Praap Sinha* Subsequen o he passage of he Insurance Regulaory and Developmen Auhoriy (IRDA) Ac, 1999, he life insurance

More information

Why Do Real and Nominal. Inventory-Sales Ratios Have Different Trends?

Why Do Real and Nominal. Inventory-Sales Ratios Have Different Trends? Why Do Real and Nominal Invenory-Sales Raios Have Differen Trends? By Valerie A. Ramey Professor of Economics Deparmen of Economics Universiy of California, San Diego and Research Associae Naional Bureau

More information

< IGBT MODULES > CM400DY-34A HIGH POWER SWITCHING USE INSULATED TYPE APPLICATION

< IGBT MODULES > CM400DY-34A HIGH POWER SWITCHING USE INSULATED TYPE APPLICATION Dual (Half-Bridge) Collecor curren I C...... 4A Collecor-emier volage CES... 7 Maximum juncion emperaure T jmax... 5 C Fla base Type Copper base plae (non-plaing) RoHS Direcive complian UL Recognized under

More information

Risk Modelling of Collateralised Lending

Risk Modelling of Collateralised Lending Risk Modelling of Collaeralised Lending Dae: 4-11-2008 Number: 8/18 Inroducion This noe explains how i is possible o handle collaeralised lending wihin Risk Conroller. The approach draws on he faciliies

More information

Forecasting, Ordering and Stock- Holding for Erratic Demand

Forecasting, Ordering and Stock- Holding for Erratic Demand ISF 2002 23 rd o 26 h June 2002 Forecasing, Ordering and Sock- Holding for Erraic Demand Andrew Eaves Lancaser Universiy / Andalus Soluions Limied Inroducion Erraic and slow-moving demand Demand classificaion

More information

SPEC model selection algorithm for ARCH models: an options pricing evaluation framework

SPEC model selection algorithm for ARCH models: an options pricing evaluation framework Applied Financial Economics Leers, 2008, 4, 419 423 SEC model selecion algorihm for ARCH models: an opions pricing evaluaion framework Savros Degiannakis a, * and Evdokia Xekalaki a,b a Deparmen of Saisics,

More information

MEDIA KIT NEW YORK CITY BAR

MEDIA KIT NEW YORK CITY BAR MEDIA KIT NEW YORK CITY BAR The New York Ciy Bar is he premier professional membership associaion for lawyers in he greaer New York Meropolian area. Wih over 24,000 aorney and law suden members, we represen

More information

Supply Chain Management Using Simulation Optimization By Miheer Kulkarni

Supply Chain Management Using Simulation Optimization By Miheer Kulkarni Supply Chain Managemen Using Simulaion Opimizaion By Miheer Kulkarni This problem was inspired by he paper by Jung, Blau, Pekny, Reklaii and Eversdyk which deals wih supply chain managemen for he chemical

More information

ANALYSIS AND ACCOUNTING OF TOTAL CASH FLOW

ANALYSIS AND ACCOUNTING OF TOTAL CASH FLOW Annals of he Universiy of Peroşani, Economics, 12(1), 2012, 205-216 205 ANALYSIS AND ACCOUNTING OF TOTAL CASH FLOW MELANIA ELENA MICULEAC ABSTRACT: In order o reach he objecive of supplying some relevan

More information

THE LAW SOCIETY OF THE AUSTRALIAN CAPITAL TERRITORY

THE LAW SOCIETY OF THE AUSTRALIAN CAPITAL TERRITORY Complee he form in BLOCK LETTERS Provide deails on separae shees if required To Responden Address THE LAW SOCIETY OF THE AUSTRALIAN CAPITAL TERRITORY Personal Injury Claim ificaion pursuan o he Civil Law

More information

THOMSON REUTERS CONVERTIBLE INDICES

THOMSON REUTERS CONVERTIBLE INDICES REUTERS/Russell Boyce THOMSON REUTERS CONVERTIBLE INDICES Revision 5 Final 25 November 2015 METHODOLOGY Conens 1. OVERVIEW 1 1.1 Index Governance 1 1.2 Marke Feedback 2 1.2.1. User Base 3 1.2.2. Index

More information

Two Essays on Corporate Income Taxes and Organizational Forms in the United States

Two Essays on Corporate Income Taxes and Organizational Forms in the United States Two Essays on Corporae Income Taxes and Organizaional Forms in he Unied Saes A Disseraion Presened o The Academic Faculy By Zhenhua Hu In Parial Fulfillmen Of he Requiremens for he Degree Docor of Philosophy

More information

DYNAMIC MODELS FOR VALUATION OF WRONGFUL DEATH PAYMENTS

DYNAMIC MODELS FOR VALUATION OF WRONGFUL DEATH PAYMENTS DYNAMIC MODELS FOR VALUATION OF WRONGFUL DEATH PAYMENTS Hong Mao, Shanghai Second Polyechnic Universiy Krzyszof M. Osaszewski, Illinois Sae Universiy Youyu Zhang, Fudan Universiy ABSTRACT Liigaion, exper

More information

Segmentation, Probability of Default and Basel II Capital Measures. for Credit Card Portfolios

Segmentation, Probability of Default and Basel II Capital Measures. for Credit Card Portfolios Segmenaion, Probabiliy of Defaul and Basel II Capial Measures for Credi Card Porfolios Draf: Aug 3, 2007 *Work compleed while a Federal Reserve Bank of Philadelphia Dennis Ash Federal Reserve Bank of Philadelphia

More information

Nikkei Stock Average Volatility Index Real-time Version Index Guidebook

Nikkei Stock Average Volatility Index Real-time Version Index Guidebook Nikkei Sock Average Volailiy Index Real-ime Version Index Guidebook Nikkei Inc. Wih he modificaion of he mehodology of he Nikkei Sock Average Volailiy Index as Nikkei Inc. (Nikkei) sars calculaing and

More information

Description of the CBOE S&P 500 BuyWrite Index (BXM SM )

Description of the CBOE S&P 500 BuyWrite Index (BXM SM ) Descripion of he CBOE S&P 500 BuyWrie Index (BXM SM ) Inroducion. The CBOE S&P 500 BuyWrie Index (BXM) is a benchmark index designed o rack he performance of a hypoheical buy-wrie sraegy on he S&P 500

More information

TAX INFORMATION A handbook for Washington state employers

TAX INFORMATION A handbook for Washington state employers Unemploymen Insurance TAX INFORMATION A handbook for Washingon sae employers Revised Ocober 2014 This book provides an overview and general guidance abou unemploymen axes I does no serve as law Specific

More information

Contrarian insider trading and earnings management around seasoned equity offerings; SEOs

Contrarian insider trading and earnings management around seasoned equity offerings; SEOs Journal of Finance and Accounancy Conrarian insider rading and earnings managemen around seasoned equiy offerings; SEOs ABSTRACT Lorea Baryeh Towson Universiy This sudy aemps o resolve he differences in

More information

Task is a schedulable entity, i.e., a thread

Task is a schedulable entity, i.e., a thread Real-Time Scheduling Sysem Model Task is a schedulable eniy, i.e., a hread Time consrains of periodic ask T: - s: saring poin - e: processing ime of T - d: deadline of T - p: period of T Periodic ask T

More information

DOES TRADING VOLUME INFLUENCE GARCH EFFECTS? SOME EVIDENCE FROM THE GREEK MARKET WITH SPECIAL REFERENCE TO BANKING SECTOR

DOES TRADING VOLUME INFLUENCE GARCH EFFECTS? SOME EVIDENCE FROM THE GREEK MARKET WITH SPECIAL REFERENCE TO BANKING SECTOR Invesmen Managemen and Financial Innovaions, Volume 4, Issue 3, 7 33 DOES TRADING VOLUME INFLUENCE GARCH EFFECTS? SOME EVIDENCE FROM THE GREEK MARKET WITH SPECIAL REFERENCE TO BANKING SECTOR Ahanasios

More information

Hedging with Forwards and Futures

Hedging with Forwards and Futures Hedging wih orwards and uures Hedging in mos cases is sraighforward. You plan o buy 10,000 barrels of oil in six monhs and you wish o eliminae he price risk. If you ake he buy-side of a forward/fuures

More information

Impact of the APF-Business Risk Management Programs on Ontario Agriculture. Larry Martin Al Mussell

Impact of the APF-Business Risk Management Programs on Ontario Agriculture. Larry Martin Al Mussell Impac of he APF-Business Risk Managemen Programs on Onario Agriculure Larry Marin Al Mussell Augus 5, 2003 Forward This sudy was an ineresing experience. When Miniser Johns and he Onario Agriculural Commodiy

More information

Statistical Analysis with Little s Law. Supplementary Material: More on the Call Center Data. by Song-Hee Kim and Ward Whitt

Statistical Analysis with Little s Law. Supplementary Material: More on the Call Center Data. by Song-Hee Kim and Ward Whitt Saisical Analysis wih Lile s Law Supplemenary Maerial: More on he Call Cener Daa by Song-Hee Kim and Ward Whi Deparmen of Indusrial Engineering and Operaions Research Columbia Universiy, New York, NY 17-99

More information

Chapter 8: Regression with Lagged Explanatory Variables

Chapter 8: Regression with Lagged Explanatory Variables Chaper 8: Regression wih Lagged Explanaory Variables Time series daa: Y for =1,..,T End goal: Regression model relaing a dependen variable o explanaory variables. Wih ime series new issues arise: 1. One

More information

WATER MIST FIRE PROTECTION RELIABILITY ANALYSIS

WATER MIST FIRE PROTECTION RELIABILITY ANALYSIS WATER MIST FIRE PROTECTION RELIABILITY ANALYSIS Shuzhen Xu Research Risk and Reliabiliy Area FM Global Norwood, Massachuses 262, USA David Fuller Engineering Sandards FM Global Norwood, Massachuses 262,

More information

Photo Modules for PCM Remote Control Systems

Photo Modules for PCM Remote Control Systems Phoo Modules for PCM Remoe Conrol Sysems Available ypes for differen carrier frequencies Type fo Type fo TSOP173 3 khz TSOP1733 33 khz TSOP1736 36 khz TSOP1737 36.7 khz TSOP1738 38 khz TSOP174 4 khz TSOP1756

More information

Glenn P. Jenkins Queen s University, Kingston, Canada and Eastern Mediterranean University, North Cyprus

Glenn P. Jenkins Queen s University, Kingston, Canada and Eastern Mediterranean University, North Cyprus COST-BENEFIT ANALYSIS FOR INVESTMENT DECISIONS, CHAPTER 3: THE FINANCIAL APPRAISAL OF PROJECTS Glenn P. Jenkins Queen s Universiy, Kingson, Canada and Easern Medierranean Universiy, Norh Cyprus Developmen

More information

Market Efficiency or Not? The Behaviour of China s Stock Prices in Response to the Announcement of Bonus Issues

Market Efficiency or Not? The Behaviour of China s Stock Prices in Response to the Announcement of Bonus Issues Discussion Paper No. 0120 Marke Efficiency or No? The Behaviour of China s Sock Prices in Response o he Announcemen of Bonus Issues Michelle L. Barnes and Shiguang Ma May 2001 Adelaide Universiy SA 5005,

More information

The Effect of Working Capital Management on Reducing the Stock Price Crash Risk(Case Study: Companies Listed in Tehran Stock Exchange)

The Effect of Working Capital Management on Reducing the Stock Price Crash Risk(Case Study: Companies Listed in Tehran Stock Exchange) Inernaional Research Journal of Applied and Basic Sciences 2013 Available online a www.irjabs.com ISSN 2251-838X / Vol, 6 (9): 1222-1228 Science Explorer Publicaions The Effec of Working Capial Managemen

More information

Chapter 6: Business Valuation (Income Approach)

Chapter 6: Business Valuation (Income Approach) Chaper 6: Business Valuaion (Income Approach) Cash flow deerminaion is one of he mos criical elemens o a business valuaion. Everyhing may be secondary. If cash flow is high, hen he value is high; if he

More information

µ r of the ferrite amounts to 1000...4000. It should be noted that the magnetic length of the + δ

µ r of the ferrite amounts to 1000...4000. It should be noted that the magnetic length of the + δ Page 9 Design of Inducors and High Frequency Transformers Inducors sore energy, ransformers ransfer energy. This is he prime difference. The magneic cores are significanly differen for inducors and high

More information

Methodology brief Introducing the J.P. Morgan Emerging Markets Bond Index Global (EMBI Global)

Methodology brief Introducing the J.P. Morgan Emerging Markets Bond Index Global (EMBI Global) Mehodology brief Emerging Markes Bond Index The EMBI Global, which currenly includes 27 counries, has been creaed in response o invesor demand for a broader emerging markes deb benchmark The EMBI Global

More information

2014-15 Annual Report. Growing through service & collaboration

2014-15 Annual Report. Growing through service & collaboration 2014-15 Annual Repor Growing hrough service & collaboraion Conens 1 Highlighs + Toal Aciviy 2 Message from he Chair 4 Message from he Execuive Direcor 6 Complains Handling Process 7 Case Sudy 1 9 Complain

More information

MEMORANDUM. From: Tina Kessler, Senior Program Analyst, San Diego Housing Commission

MEMORANDUM. From: Tina Kessler, Senior Program Analyst, San Diego Housing Commission MEMORANDUM To: Members of he Downown Communiy Planning Council From: Tina Kessler, Senior Program Analys, San Diego Housing Commission Dae: March 4, 2015 Subjec: Affordable Housing Fund FY 16 Annual Plan

More information

LEVENTE SZÁSZ An MRP-based integer programming model for capacity planning...3

LEVENTE SZÁSZ An MRP-based integer programming model for capacity planning...3 LEVENTE SZÁSZ An MRP-based ineger programming model for capaciy planning...3 MELINDA ANTAL Reurn o schooling in Hungary before and afer he ransiion years...23 LEHEL GYÖRFY ANNAMÁRIA BENYOVSZKI ÁGNES NAGY

More information

Reducing working capital levels

Reducing working capital levels Cash Managemen Laura Greenberg Liberaing Cash Reducing working capial levels Well-capialized companies are posiioned no only o survive he financial crisis oday, bu also o emerge vicorious and hrive when

More information