New Unemployment Claims Remain Above 400K

In the week ending June 18, the advance figure for seasonally adjusted initial claims was 429,000, an increase of 9,000 from the previous week's revised figure of 420,000. The 4-week moving average was 426,250, unchanged from the previous week's revised average of 426,250.

Unemployment Claims Remain Over 400K

In the week ending June 11, the advance figure for seasonally adjusted initial claims was 414,000, a decrease of 16,000 from the previous week's revised figure of 430,000. The 4-week moving average was 424,750, unchanged from the previous week's revised average of 424,750.

New Residential Construction Shows Some Gain

Building permits in May 2011 were 612,000, up 8.7% from April and up 5.2% from May 2010. Housing starts were 560,000, up 3.5% from the prior month, but down 3.4% from the prior year. 

PPI Date Released for May 2011

PRODUCER PRICE INDEXES –MAY 2011

The Producer Price Index for finished goods rose 0.2 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This advance followed increases of 0.8 percent in April and
0.7 percent in March. At the earlier stages of processing, prices received by manufacturers of intermediate goods climbed 0.9 percent in May, and the crude goods index declined 4.1 percent. On an unadjusted basis, prices for finished goods moved up 7.3 percent for the 12 months ended May 2011, the largest year-over-year gain since an 8.8-percent advance in September 2008.

Initial Claims Rise

In the week ending June 4, the advance figure for seasonally adjusted initial claims was 427,000, an increase of 1,000 from the previous week's revised figure of 426,000. The 4-week moving average was 424,000, a decrease of 2,750 from the previous week's revised average of 426,750.

Neosho’s June Tax Receipts Up

Neosho’s 1% sales tax receipts were up 1.33% over June of 2010.  This marks the third straight month that revenues were up over the same period last year.  For the first 9 months, revenues are up 0.72% over 2010.  Total 1% tax revenues stand at $1,497,754.36 for the year.

Amanda Franklin Tribute Video

Not much more so say about that....

Missouri Supreme Court Reaffirms User Fees are Not Taxes

Supreme Court Hancock Decision, Census Issues, & Auditor’s TDD Report

Missouri Supreme Court Reaffirms User Fees are Not Taxes – In a case in which CVR acted as counsel to the Missouri Municipal League as amicus curiae, the Missouri Supreme Court issued a unanimous decision in Arbor Investment Co. LLC v. City of Hermann, SC 91109 (May 31, 2011) affirming the City’s right to impose utility rates above actual costs and make transfers of excess utility revenue to the City’s general fund. 

The City prevailed before the trial court under the 5-part Keller test against allegations that the City’s utility charges were grossly in excess of its costs of providing services, and that transfers of portions of utility revenue to the City’s general fund was evidence that the utility charges were a hidden tax in violation of the Hancock Amendment. However, the Court of Appeals (E.D.) reversed and appeared to change the Keller test to one dispositive factor by holding that if “the object of the fees is to fund the City’s general revenue, then this constitutes a violation of Hancock…” 

However, the Supreme Court affirmed the trial court and specifically rejected the appellants’ and AG’s proposed change to the Keller test that would make the utility charges a tax when the utility is a sole provider and charges anything above cost.  The Court reaffirmed that a user fee is not subject to Hancock, noting that while a user fee can become subject to Hancock if the charge is “so excessive as to be effectively unrelated to the service being provided,” even a charge double actual cost, on its own, is not enough to convert the fee to a tax.  The Court held that a City may charge above costs to cover the overhead of delivering that service, and if the fees are unpopular, the remedy is to vote those persons setting the fees out of office. 

In the end, the decision upholds the law as understood by most cities and keeps the current user fee v. tax analysis intact – averting the widespread adverse effects on municipal budgets across the state had the Court of Appeal’s decision been allowed to remain in place. 

Job Creation Weak/Unemployment Rate Rises

From the Washington Post:

The U.S. economy added 54,000 jobs in May, the fewest in eight months. The unemployment rate rose to 9.1 percent.

http://link.email.washingtonpost.com/r/MEPMRJ/9ZKXKG/KRQH6X/DHZ2CX/4NXNU/SN/h

For more information, visit washingtonpost.com

Marco Girls Start Off Strong

The 2011 YMCA summer ball program started off strong for Marco’s 9-11 girls team.  Last night, Marco’s team beat Griffith Motors 10-6 in 3 innings.  Above, Kyndall Davidson (daddy’s girl!) looks on moments after getting 1 of her 3 hits for the night.