Exam Code: CGFM Practice test 2023 by Killexams.com team
CGFM Certified Government Financial Manager (CGFM)

Exam ID : CGFM
Exam Name : Certified Government Financial Manager(R)
Questions : 115 questions
Duration : 2 hrs 15 min.

I: Organization, Structure and Authority of Government (15%)

A. Demonstrate an understanding of the levels of government, including:
- The three levels of government: federal, state and local.
- The interrelationships among the three levels of government: federal, state and local.

B. Demonstrate an understanding of the branches of government – legislative, executive, judicial – including:
- The roles of the three branches.
- The interrelationships among the three branches.
- The checks and balances through separation of powers among the three branches.

C. Demonstrate an understanding of the components of federal, state and local governments (e.g., central management and accountability agencies, departments, agencies, bureaus, commissions, divisions).

D. Demonstrate an understanding of the authorities and responsibilities of the government (e.g., government-wide and departmental), including:

The federal government, its hierarchy and constraints (e.g., U.S. Constitution, federal laws, executive orders, rules and regulations).
The state governments, their hierarchies and constraints (e.g., U.S. Constitution, state constitutions, state laws, executive orders, rules and regulations).
The local governments, their hierarchies and constraints (e.g., state constitutions, state laws, local charters, local ordinances, executive orders, rules and regulations).
Tribal government sovereignty.
E. Demonstrate an understanding of the authorities and responsibilities of the different types of governments, including:

The differentiation among general-purpose governments, special-purpose governments and quasi-governmental entities (e.g., federal, states, cities, counties, territories, authorities, school districts, government corporations, government-sponsored enterprises).
The interrelationships among general-purpose governments, special-purpose governments and quasi-governmental entities.
The role of jointly-governed organizations (e.g., transit agencies).

II: Legally-Based Implications of the Government Financial Environment (15%)
A. Demonstrate an understanding of the implications of sovereignty in the levels of government, including:
- The meaning, application and limitations of sovereign authority.
- The power of governments to tax and borrow.
- The power of the federal government to establish monetary policy.

B. Demonstrate an understanding of the budget, including:
- The role and significance of the budget in government.
- The objectives of the budget (e.g., policy document, operations guide, financial plan, communications device).
- The objectives of the budget process (e.g., define priorities, debate policy, allocate resources, identify revenue sources).
- The legal aspects of the government budget (e.g., control levels, spending limits, fund types, balanced budgeting).
- The principles of legislative control over governmental finance (e.g., appropriating funds, establishing spending levels, establishing spending conditions).
- How the executive branch controls spending (e.g., monitoring budget execution, planning for allocation of resources over time and among programs).
- How judicial decisions affect government spending.
- The role of other budget control devices (e.g., apportionments, allotments, encumbrances/obligations, funds, function, department, activity, object).

C. Demonstrate an understanding of how establishing special funds or dedicated revenues helps fulfill legal requirements.
D. Demonstrate an understanding of legislative “earmarking.”

III: Demonstrate an Understanding of the Government Management System (Cycle), Including: (16%)
A. The elements of the government management system, including strategic planning, programming, budgeting, operations, accounting, reporting and auditing.

B. The interrelationships among the elements of the government management system.
C. The importance of data in the government management system (cycle).
IV: Governmental Financing Process (24%)
A. Demonstrate an understanding of the role of taxation, including:
- The elements of tax policy (e.g., what to tax, who to tax, how much to tax, why to tax).
- The various types of taxes for each level of government and the roles and advantages of each type (e.g., income, wealth, consumption).
- The nature and role of tax expenditures.
- Tax limitations and exclusions.

B. Demonstrate an understanding of intergovernmental revenues, including:
- The differences among contracts, shared revenues and grants.
- The differences among the types of grants (e.g., formula grants, discretionary grants, block grants).
- The requirements and expectations of the grantor and grantee throughout the grant lifecycle, including the role of the Uniform Guidance.

C. Demonstrate an understanding of other forms of financing, including:
Other forms of government revenues (e.g., investment income, user fees, licenses, lotteries, donations).
The rationales for establishing user fees (e.g., recover costs, expand service capacity, encourage or limit use of services). The use of public-private partnerships.

D. Demonstrate an understanding of the role of debt, including:
- Purposes of entering into debt.
- Factors that should be considered before entering into debt (e.g., ability to pay, purpose, interest rate, tax base).
- The types of debt limitations (e.g., statutory, bond covenants).
- Factors that should be included in debt policies (e.g., available tax base, debt maturities).
- The various types of financing options (e.g., notes, bonds, lease-purchase, certificates of participation).
- The sources and methods of repaying debt (e.g., dedicated taxes, user fees, general revenues).
- The role of credit rating agencies in the debt issuance process.
- The role of insurance and guarantees in the debt issuance process.

V: Identify the Concepts, Definitions and Notions of Public Accountability, Including: (12%)

A. The meaning and purpose of accountability in the government environment (e.g., the Chief Financial Officers (CFO) Act of 1990).

B. The role and key attributes of accountability (e.g., disclosure, organization structure, reporting), and their interrelationships.

C. Elements for which a government should be accountable (e.g., performance, financial, compliance, efficiency and effectiveness, stewardship of assets).

D. The primary stakeholders in accountability (e.g., legislators, taxpayers, other governments, investors, creditors, underwriters, future generations).

E. The groups that help to establish and maintain accountability (e.g., legislative bodies, media, management, analysts, employees, taxpayers).

F. The methods used to demonstrate and assess accountability and transparency (e.g., audit reports, performance reports, oversight hearings, program evaluations, service efforts and accomplishment (SEA) reports, electronic reports).

G. The techniques used to assess fiscal sustainability and solvency.

H. Concepts of open government, data transparency and citizen-centric reporting (e.g., Digital Accountability and Transparency Act of 2014 (DATA Act), open checkbooks, open book, sunshine laws).

VI: Demonstrate an Understanding of Ethics as Applied to the Government Environment, Including: (10%)
A. The key concepts related to ethical responsibility to the public, professional conduct (e.g., genuine or perceived conflicts of interest, independence, objectivity, due care) and the sources of guidance (e.g., the AGA Code of Ethics).

B. The steps a government financial manager needs to take to avoid a conflict of interest and to ensure objectivity and independence.

C. The concept of due care in the performance of professional duties.

D. Activities or situations that are inconsistent with the responsibilities of public officials and employees.

E. The appropriate course of action to avoid the reality or the perception of improper use of one's office for personal gain.

F. Personal responsibility as it relates to organizational codes of conduct (e.g., whistle blower, nepotism).

VII: Demonstrate an Understanding of Providing Government Services and Information Electronically, Including: (8%) A. Delivery of government services and e-government (e.g., drivers license renewal, online bill and tax payment).

B. Stakeholder real-time access to information, including electronic financial reporting.

C. The use of various media and devices for communications and providing services (e.g., social networking, apps, mobile devices).

D. Security and privacy considerations (e.g., the requirements of the National Institute of Standards and Technology, encryption, cybersecurity).

I: Governmental Financial Accounting, Reporting and Budgeting: General Knowledge (40%)
A. Demonstrate an understanding of the influences, objectives and role of standards, including:

The unique financial aspects of the governmental environment that differ from the private sector (e.g., profit versus service, importance of budget).
The concept of interperiod equity.
The objectives of governmental financial reporting (e.g., financial accountability, budgetary accountability, program accountability).
The major uses of governmental financial reporting (e.g., budgetary compliance, compliance with laws and regulations, assessing financial position, assessing results of operations, assessing sustainability).
The characteristics of information in governmental financial reporting (e.g., understandability, reliability, relevance, timeliness, consistency, comparability).
The roles of the Financial Accounting Standards Board (FASB), Governmental Accounting Standards Board (GASB) and Federal Accounting Standards Advisory Board (FASAB).
The role of the International Public Sector Accounting Standards Board (IPSASB).
Due process in the setting of accounting standards (e.g., discussion memorandum, invitation to comment, preliminary views, exposure draft, public hearing, task forces).
The purpose of the hierarchy of generally accepted accounting principles for state/local and federal accounting and financial reporting.
The basic concepts and requirements of Open Government financial reporting.

B. Demonstrate an understanding of the concepts of managerial cost accounting and fee establishment, including:
The purposes for accumulating and reporting cost information.
The concept of full cost of outputs, incorporating inter-entity costs.
The requirements of FASAB Statement of Federal Financial Accounting Standards (SFFAS) 4, as amended: Managerial Cost Accounting Concepts and Standards.
Determining the costs under an intergovernmental cost-reimbursement contract or grant (as outlined in the Uniform Guidance).
Identification of the methods for assigning and allocating costs in a given situation (e.g., direct, indirect).
Computation of the fee to be charged to a user.
Various cost recovery objectives (e.g., total direct costs, operating costs, full costs, replacement costs, incremental costs).

C. Demonstrate an understanding of the concepts of budgeting, including:
The key elements of the budget process, from provision of initial guidance through preparation, review, adoption, execution and accounting.
The structure of the budget (e.g., organizational unit, program, function, category, character, fund, line item, object).
The features of various budgetary approaches (e.g., baseline, line item, program, zero-base, performance).
The various means for financing capital projects, including the role of a capital budget.
The methods of forecasting revenues and expenditures.
The various means of budgetary control (e.g., revenue monitoring, encumbrance/obligation control, vacancy controls, allotment, apportionment).

D. Demonstrate an understanding of the general principles of governmental financial accounting, including:
Basic accounting processes (e.g., debits, credits, ledger accounts, stock and flow statements, accounting period).
The differences among the various measurement focuses and bases of accounting (e.g., economic resources, current financial resources, cash, accrual, modified accrual).
The effect of applying the various measurement focuses and bases of accounting to specific transactions.
Exchange and exchange-like versus non-exchange transactions.
How to adjust the allowance for doubtful accounts under alternative methods (e.g., percentage of sales or percentage of accounts receivable).
The differences among various methods of valuing inventory (e.g., First-in, First-out (FIFO), Last-in, First-out (LIFO), average cost).
Situations that require recording depreciation and calculation of the same.
Recording contingencies (e.g., judgments, claims).

II: Demonstrate an Understanding of State and Local Financial Accounting and Reporting, Including: (30%)
A. The application of the GASB standards for determining the reporting entity, including component units.
B. The purpose of each fund type within each fund category, and its related basis of accounting.
C. The form and content of the Comprehensive Annual Financial Report (CAFR).
D. The purpose of popular reporting.
E. The form and content of the basic financial statements, including:

Government-wide financial statements.
Fund-level financial statements.
F. The reporting of fund balance in governmental funds.
G. The form and purpose of required supplementary information (RSI).
H. How to measure, record and report the purchase of capital assets, including assets acquired through a capital lease.
I. How to measure, record and report the incurrence and repayment of general long-term obligations in a governmental fund.
J. How to measure, record and report common, fundamental current assets and liabilities, revenue, expenditures, and other financing sources and uses when using modified accrual basis of accounting (e.g., property tax, grants, shared revenues, capital outlays, bond proceeds, debt service, payroll, accounts receivable).

K. How to measure, record and report common, fundamental assets, liabilities, revenue and expense transactions when using accrual basis of accounting (e.g., taxes, grants, shared revenues, capital assets, long-term debt, operating expenses, pensions, payroll, accounts receivable).
L. The types of interfund transactions, and how they are accounted for.
M. How to consolidate or eliminate transactions between the fund level and the government-wide level for governmental activities.
N. The required disclosures for cash deposits with financial institutions and investments, including repurchase agreements.
O. The option and criteria for using the modified approach for infrastructure.
P. The entries for recording the budget, modifying the budget and recording encumbrances and expenditures.
Q. How to reconcile the budgetary information to the generally accepted accounting principles (GAAP) information.
R. How to reconcile the fund financial statements to the government-wide financial statements.
S. Government combinations (e.g., mergers and acquisitions, transfers of operations).

III: Demonstrate an Understanding of Federal Financial Accounting and Reporting, Including: (30%)
A. The role of FASAB and the relationships among the Office of Management and Budget (OMB), U.S. Department of the Treasury and the Government Accountability Office (GAO) in federal financial accounting and reporting.
B. Key budgetary terms (e.g., appropriations, budget authority, budgetary resources, object class, outlays, receipts, offsetting collections, deficit).
C. The components of the budgetary equation.
D. The relationship and differences between budgetary and proprietary accounting.
E. Types of funds (e.g., general, trust, revolving).
F. The components and use of the U.S. Standard General Ledger.
G. How to record common, fundamental budgetary transactions (e.g., appropriation, apportionment, allotment, commitment, obligation, expenditure).
H. How to record common, fundamental proprietary transactions (e.g., warrants, accounts payable, payroll, accounts receivable, pensions, investments, depreciation).
I. Determining the reporting entity.
J. The form and content of an agency financial report (AFR) and a performance and accountability report (PAR).
K. The purposes, form and content of the basic financial statements.
L. The concepts of consolidation and intragovernmental transactions.
M. The purposes and form of the notes to the financial statements.
N. The purposes and form of required supplementary information (RSI).
O. The concept of Fund Balance with Treasury.
P. The concepts of accounting for loans and loan guarantees (Credit Reform Act).
Q. The basic requirements for the U.S. Consolidated Financial Report.

I: Financial Management Functions (25%)
A. Demonstrate an understanding of cash management, including:

Legislation that affects governmental cash management.
Controls appropriate for governmental cash management.
Considerations in establishing banking relationships (e.g., competition, servicing, compensating balance).
Techniques for accelerating collections (e.g., electronic fund transfer (EFT), centralized collections, lockboxes, e-Collections).
Techniques for timely payment (e.g., warehousing payments, EFT, credit cards, electronic invoicing).
The role and control of electronic payments (e.g., smart cards, benefit cards, EFT).
The existence of and the need to identify, prevent and recover improper payments.
B. Demonstrate an understanding of investment management, including:

Concepts and relationships among risk, liquidity and yield, and the associated tradeoffs.
Types of investments for operating funds and pensions.
The concept of fiduciary responsibility, including the duty of loyalty and duties to care, act in a prudent manner and diversify plan assets.
The components of an investment policy, including standards of care, objectives, conflicts of interest and authorization.
Investment management considerations (e.g., selection of money managers, role of prudent experts, understanding of markets, monitoring and evaluating performance, risk assessment/avoidance, internal controls).
C. Demonstrate an understanding of loan and loan guarantee programs and debt collection, including:
The components of loan and loan guarantee programs (e.g., rationale, credit extension, account servicing, debt write-off, performance measurement).
The components of delinquent debt collection (e.g., salary and refund offsets, collection agencies, delinquency rates, aging, reporting requirements).
D. Demonstrate an understanding of procurement management, including:
The elements in the public procurement process (e.g., authorized procurement officials, compiling a bidders list, public advertising, preparing and issuing an invitation to bid (ITB) or a request for proposal (RFP), evaluating proposals, awarding the contract, writing the contract).
Techniques for assuring full and fair competition (e.g., advertising, direct contact to likely vendors, registries).
Contract efficiencies (e.g., purchase cards, bulk purchasing, inter-agency procurements).
Evaluation selection criteria (e.g., past performance, delivery time, price).
The monitoring and acceptance process to ensure that contract specifications are met.
E. Demonstrate an understanding of property management, including:
The elements of a property management system (e.g., record keeping, safeguarding, maintenance, reporting).
The procedures for property disposal (e.g., identifying surplus, disposition methods).
F. Demonstrate an understanding of operating materials and supplies/inventory management, including:
The elements of an operating materials and supplies/inventory management system (e.g., policies, classifications, controls, reorder decisions).
Ways to safeguard operating materials and supplies/inventory (e.g., physical control, tagging, periodic inventory, stewardship, radio-frequency identification (RFID).
G. Demonstrate an understanding of financial management systems, including:
The concept of an integrated financial management system.
User needs for real-time access to data across the enterprise (e.g., use of dashboards, data visualization).
Business process re-engineering in the development and implementation of information systems.
The concept of enterprise resource planning (ERP) systems.
The various approaches to meeting system needs (e.g., off-the-shelf, cross-servicing, outsourcing, custom design, shared services).
The elements of a disciplined development process (e.g., requirements management, testing, data conversion, systems interfaces, configuration management, risk management, project management, quality assurance).
Techniques for project management (e.g., defining interrelationships and tasks; resource management; cost, schedule and performance monitoring; independent verification and validation; change management).
Methods for assuring the reliability and completeness of data.
The concept of the continuity of operations plan (COOP).
The use of cloud computing.
H. Demonstrate an understanding of shared services, including:
The service offerings, planning, transition steps and costs of shared support services.
Importance, advantages and disadvantages of shared services.
II: Demonstrate an Understanding of Financial and Managerial Analysis Techniques, Including: (15%)
A. The conduct of the following types of analyses: present value, future value, cash flow, pay-back, trend, ratio analysis, strategic sourcing, regression analysis, earned value management and flowcharting.

B. Identification of the sources of information used and reliability of the data for financial and managerial analysis (e.g., accounting records, performance records, financial statements, census data).
C. The use of forensic techniques, such as data mining.
D. The use of advanced data analytics.

III: Internal Control (25%)
A. Demonstrate an understanding of internal control, including:
The objectives of internal control.
The concepts of cost-benefit and reasonable assurance.
The components and principles of internal control, as specified by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Integrated Framework: control environment, risk assessment, control activities, information and communication, and monitoring.
Cyber security (e.g., general and application controls).
Identification and correction of internal control deficiencies.
Involvement of shared service providers.
B. Demonstrate an understanding of the application of internal control to:
Programs and operations, including information technology.
Financial reporting.
Fraud, waste and abuse prevention and detection.
C. Demonstrate an understanding of internal control responsibilities, including:
Management's responsibility to establish, monitor, remediate and report on internal control.
Management's responsibility for detecting and reporting fraud, waste and abuse.
The independent auditor's responsibility regarding internal control.
The roles of the internal auditor in the internal control process.
D. Demonstrate an understanding of the internal control evaluation process, including:

The process for documenting and assessing internal control.
The roles of management and the auditor in the evaluations of internal control including the risk of fraud, waste and abuse.
E. Demonstrate an understanding of the internal control reporting process, including:

How management reports on internal control, including the use of various types of assertions.
The auditor's reporting on internal control.
F. Demonstrate an understanding of Enterprise Risk Management (ERM), including:

Relationship to internal control.
Application of ERM.

IV: Demonstrate an Understanding of Performance Measurement/Metrics/Service Efforts and Accomplishments (SEA), Including: (15%) A. The objectives of financial and non-financial performance measures.
B. How performance measures relate to organizational goals and objectives.
C. How financial and non-financial performance measures are linked.
D. How financial and non-financial performance measures are integrated with the strategic plan and budget.
E. The uses of performance measurement and reporting to demonstrate public accountability and transparency.
F. The uses of performance measurement and reporting to Boost allocation of resources and oversight of performance.
G. The uses of performance measurement and reporting to Boost effectiveness and efficiency.
H. The types of performance measures: inputs, outputs, outcomes and efficiency measures.
I. The characteristics of performance measurement data (e.g., relevant, understandable, comparable, reliable, timely, verifiable, actionable, cost-beneficial).
J. Baselines and benchmarks.
K. The role of stakeholder input in the performance process.
L. The legal requirement and guidance for performance measurement.
V: Auditing (20%)
A. Demonstrate an understanding of auditing, including:
Types of auditors (e.g., external, internal).
Objectives of financial audits.
Objectives of attestation engagements.
Objectives of performance audits.
Uses of audit reports.
The concept of materiality.
B. Demonstrate an understanding of standards, including:
The sources of auditing standards for audits of government organizations.
The interrelationships among various audit standards-setting organizations (e.g., the Government Accountability Office (GAO), American Institute of Certified Public Accountants (AICPA) Auditing Standards Board and the Public Company Accounting Oversight Board (PCAOB)).
The concept of general standards (e.g., independence, professional judgement, competence, quality control and assurance).
The concept of auditor independence and the impact of non-audit professional services on independence.
Standards for financial audits.
Standards for attestation engagements.
The responsibilities of the auditor in an audit follow-up program.
Fieldwork and reporting standards for performance audits.
The types of activities that are considered sensitive in a government audit (e.g., taxpayer information, payments to informants, the Health Insurance Portability and Accountability Act (HIPAA) data, personally identifiable information (PII)).
C. Demonstrate an understanding of the responsibilities of the auditee, including tasks related to:
Preparing for and procuring audit services.
Supporting the audit process.
Preparation of the management representation letter.
Audit follow-up and corrective action plan based on audit findings.
The role of an audit or audit advisory committee.
D. Demonstrate an understanding of the components of the Single Audit Act and the role of the Office of Management and Budget (OMB), including:
The scope and purpose.
The required reports.

Certified Government Financial Manager (CGFM)
Financial Government benefits
Killexams : Financial Government benefits - BingNews https://killexams.com/pass4sure/exam-detail/CGFM Search results Killexams : Financial Government benefits - BingNews https://killexams.com/pass4sure/exam-detail/CGFM https://killexams.com/exam_list/Financial Killexams : Social Security Benefits: The Good and Bad News for Retired Workers in 2023

Social Security is a major source of financial well-being in retirement. Nearly 49 million retired workers received benefits in January, and about half of people aged 65 and older get at least 50% of their family income from Social Security. Given its importance, retired workers should try to stay informed on the program, and there have been several big changes already this year.

Here are the most important details.

Good news: The largest cost-of-living adjustment since 1982

Inflation scorched the U.S. economy last year, driving up the cost of gasoline, groceries, and other necessities at the fastest pace in four decades. Meanwhile, Medicare Part B premiums soared 14.5% in 2022, marking one of the largest price hikes in history. In total, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) -- the metric used by the Social Security Administration to measure inflation -- increased 8.5% last year.

That inflationary pressure was particularly problematic for retired workers because Social Security benefits only received a 5.9% cost-of-living adjustment (COLA) in 2022. For context, COLAs are intended to protect the buying power of benefits, and they have done a decent job over time, but the 2022 COLA failed to fully offset the impact of rising prices. In other words, benefits lost buying power last year.

Fortunately, Social Security benefits got a huge 8.7% COLA in 2023, marking the largest raise for retired workers since 1982. Better yet, inflation has slowly decelerated over the last six months, and the CPI-W increased 6.3% in January 2023, well below the 8.7% COLA applied to benefits this year. That means Social Security benefits are on pace to regain some (or more) of the buying power lost in 2022.

Bad news: More retired workers will pay federal income tax on Social Security benefits

Unfortunately, while benefits are adjusted for inflation each year, the income thresholds that dictate the federal taxation of benefits have never been adjusted. That has created a problem. More retired workers owe taxes on Social Security income each year simply because COLAs are driving up benefits.

For context, less than 10% of recipients paid federal income tax on benefits when the law took effect in 1984, but more than half pay tax on benefits today. And that figure will continue to climb this year due to the unusually large COLA in 2023.

The table below details the relevant tax rates for Social Security benefits based on combined income, which is defined as modified adjust gross income plus half of Social Security benefits.

Tax Return Filing Status

Combined Income

Taxable Portion of Benefits


$25,000 to $34,000



$34,001 and up



$32,000 to $44,000



$44,001 and up


Data source: Social Security Administration.

Individuals who fall into the income thresholds detailed above have two options: They can make estimated tax payments to the Internal Revenue Service each quarter, or they can choose to have federal taxes withheld from benefits by filing a Form W-4V with their local Social Security office.

Bad news: The Social Security trust fund may be depleted sooner than expected

Social Security is facing a $20 trillion funding shortfall over the next 75 years due to cost pressures created by the aging population. Last year, the board of trustees estimated that the Social Security trust fund -- the source of benefits paid to all beneficiaries -- will likely be depleted by 2035. However, a 2023 COLA ranging from 3.9% to 5.1% was baked into that estimate -- the genuine COLA came in much higher at 8.7%. That could accelerate the depletion of the Social Security trust fund.

That said, government officials in Washington are aware of the problem, and they have proposed a broad continuum of potential solutions. But even if the trust fund does run dry in 2035, income from payroll taxes would still cover 80% of scheduled benefits. In other words, the Social Security program is not going to disappear.


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If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $18,984 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.

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Sat, 18 Feb 2023 20:09:00 -0600 en-US text/html https://www.msn.com/en-us/money/retirement/social-security-benefits-the-good-and-bad-news-for-retired-workers-in-2023/ar-AA17FQF1
Killexams : U.S. Government Running Out of Money for Social Security and Veteran Benefits

© Provided by Wealth of Geeks

The U.S. government is apparently in financial trouble, according to a report released by the Congressional Budget Office.

Bankrupt America

According to the report, the government could run out of money for Social Security payouts and military paychecks as early as summer. There has been a lot of debate in Congress about whether or not to raise the debt ceiling, but unless there's a unanimous vote to do so, the Treasury will no longer be able to afford its obligations to Social Security, military, as well as other benefits.

The U.S. Treasury Secretary, Janet Yellen, made it clear that if the government defaults, it would be “catastrophic” for America. “It is unlikely that the federal government would be able to issue payments to millions of Americans, including our military families and seniors who rely on Social Security," she said.

Defaulting would mean that prices would continue to rise for Americans, specifically home and auto loan rates and credit card rates. House Speaker Kevin McCarthy made it clear that Republicans have no intention of allowing the government to default on its debts. He did add, however, that the votes wouldn't be free.

He said in exchange, the party demands federal spending cuts and they will not pass the “clean debt ceiling” that the Biden Administration is pushing for.

At the National Association of Counties conference in Washington, Biden gave a speech where he also used the word “catastrophic” to describe the state of the U.S. should the government default. “Even coming close to default would raise borrowing costs, making it harder to finance key projects in your communities," he said.

Here Are the 30 Richest Female News Anchors | Wealth of Geeks

Extraordinary Measures

The debt ceiling, also known as the debt limit, is the amount that the United States government can legally borrow. Because the government has so many expenses and runs on a deficit, borrowing money is necessary to meet the significant demand. On January 19, 2023, the United States hit the $31.4 trillion debt ceiling.

The Treasury had no choice but to take “extraordinary measures” to borrow additional money.

By this summer, however, the ability to access those extraordinary measures will dry up. The exact date is still up in the air and depends on how much revenue the government will be able to collect from April's tax collections. Phillip Swagel is the director of the Congressional Budget Office.

He issued a warning in his report, saying that if the tax receipts fall short of the estimated amounts, the extraordinary measures could dry up much sooner than originally predicted. Swagel said they could be exhausted as early as July if the U.S. isn't able to bring in enough revenue.

The CBO has predicted that there will be a rise in unemployment, stable or rising interest rates, and stagnant output throughout the country. The future looks bleak at the moment, but slowing inflation and a potential economic rebound in the future are a ray of hope in these times of struggle.

This article was produced and syndicated by Wealth of Geeks.

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Fri, 17 Feb 2023 02:31:00 -0600 en-US text/html https://www.msn.com/en-us/money/markets/us-government-running-out-of-money-for-social-security-and-veteran-benefits/ar-AA17CCJ7
Killexams : Which states have the highest and lowest payment for unemployment benefits in 2023? Unemployment Insurance provides workers that lose their jobs financial support for a time while they look for a new position but the amount paid varies. © BRENDAN MCDERMID (Reuters) Unemployment Insurance provides workers that lose their jobs financial support for a time while they look for a new position but the amount paid varies.

While unemployment has hit an historic low nationwide in January, there have been a series of high-profile layoffs, especially in the tech industry. For those workers who lose their job through no fault of their own they may be able to receive unemployment compensation. Unemployment Insurance programs provide financial support to workers for a period of time while they find a new position.

However, despite being a a federal-state joint venture, beyond some basic federal mandates the states can run their programs with a fairly free hand. This means that there is no uniform set of rules to qualify, nor types of workers who are eligible to file a claim. Additionally, the weekly amount can vary greatly from one state to the next. Here’s a look at the UI landscape around the United States in 2023.

Which states pay the most in unemployment

The amount that those who find that they are out of work and eligible to collect unemployment benefits varies greatly from state to state. According to Savings to Invest, a personal finance blog, the stingiest state is Mississippi paying out at most $235 per week, but at least the state pays up to 26 weeks of benefits. Alabama, Louisiana, Tennessee and Florida all pay at most $275 per week, but Florida will only cover 12 weeks currently.

At the other end of the of the spectrum is Massachusetts which boosts household incomes with up to $1,051 per week plus $25 per dependent. Additionally, recipients may qualify for up to 30 weeks of benefits. Following the Massachusetts for highest benefits paid out are Washington, Minnesota, New Jersey and Hawaii which all pay 26 weeks of benefits ranging from $999 to $765 per week.

Highest paying states Lowest paying states
Massachusetts $1,051 (+$25/dependent) Mississippi $235
Washington $999 Alabama $275
Minnesota $857 Florida $275
New Jersey $830 Louisiana $275
Hawaii $765 Tennessee $275

How does unemployment insurance work?

Unemployment insurance is financed through both state and federal unemployment taxes on employers. The state payroll taxes for unemployment insurance vary by state but the federal tax is uniform. As of 2021, the Federal Unemployment Tax Act (FUTA) tax rate is 6 percent of the first $7,000 paid to each employee annually.

The federal government ensures that all states provide basic protections for eligible workers but imposes minimal requirements. States can choose the eligibility criteria, such as the type and duration of prior employment.

The rate that benefits replace wages for the unemployed vary widely from state to state. So too does the number of weeks of unemployment compensation but most states offer 26 weeks of regular unemployment compensation.

Who is eligible for unemployment compensation?

In order for a worker to claim unemployment compensation he or she must lose his or her job through no fault of their own. If a worker leaves their job voluntarily they most likely will not qualify for unemployment insurance, there are exceptions. Additionally, those who are self-employed such as contractors or gig workers as well as undocumented workers generally cannot claim jobless aid.

The worker must also be actively looking for gainful employment, the “active work search requirement can be fulfilled in a variety of ways and varies from state to state. It generally includes applying for a job in person, by mail or online through a employment service or state job listings board. Another way is applying for work through a temporary staffing agency or registering for work or reemployment services with the state career center. The requirement could also be fulfilled by interviewing for a job, attending a job fair or other event that would help a worker find a new job.

How are unemployment benefits paid?

Many states require that a worker go through a “waiting week” in which no benefits are paid. Only in the following week can a laid off worker file their initial claim. Even then, some states will not make the first payment until three weeks after a worker starts claiming weekly benefits, the federal standard.

Those collecting jobless aid can receive their unemployment payments via paper check, direct deposit to an account or pre-paid debit card, or on a state issued pre-paid debit card. How states send the payments again varies from state to state but states cannot require that those claiming benefits use a state issued pre-paid debit card according to Consumer Financial Protection Bureau.

Claimants should be aware that unemployment benefits are taxed by the federal government and some state governments as well must be declared on tax returns.

Claimants may have to pay back any over payments

In the event that a worker claiming unemployment benefits receives excess amounts they most likely will be asked to repay the overpaid amount back to the state. Overpayments can occur because of unintentional filing errors by the filer or the agencies with which they are filing. The claimant can appeal collection to avoid having to return the money but usually has to do so within a set time limit set by the state. Claimants should check with their state’s unemployment agency for specific details.

If the overpayments were due to intentional erroneous filing by the claimant that constitutes fraud and can have legal implications and result in criminal charges.

Sun, 19 Feb 2023 00:48:11 -0600 en-US text/html https://www.msn.com/en-us/money/other/which-states-have-the-highest-and-lowest-payment-for-unemployment-benefits-in-2023/ar-AA17FOFN
Killexams : The deck is stacked in favor of government agencies. That’s a threat to the rights of all Americans.

SACRAMENTO – Our nation’s judicial system has its share of problems and injustices, but an independent judiciary remains one of the crowning achievements of our relatively free society. Authoritarian countries have judicial systems, but citizens in those benighted places lack due process because they are playing a game with house rules. And the house always wins.

Yet the federal government and states operate a series of quasi-judicial systems that function like a rigged card game. The stakes are high, but the player doesn’t have a chance. I’m referring to the way that powerful state and federal regulatory agencies enforce Byzantine codes through an administrative process that has many trappings of the traditional court system.

Let’s say the a state or federal labor agency accuses your business of shortchanging workers, or an environmental agency accuses you of despoiling a wetland as part of a construction project. Agency officials make mistakes or misinterpret the law, so you attempt to have your day in “court” to protest a fine or regulatory enforcement action.

Your case will come before an administrative law judge, but these aren’t the same as court judges. They sometimes are employees of the agency. Other times, administrative judges are dispatched from a clearinghouse agency that claims to provide neutral decisions. They operate through a looser set of rules than the judiciary and might be expected to share certain bureaucratic pre-dispositions.

Related: The crushing cost of regulation

It’s no surprise how often administrative opinions reflect the outlook of the agency, although on occasion these arbiters defy the odds. Even when they do, the agency itself can often overrule the finding of the administrative law judge. How’s that for a stacked deck?

A case before the Arizona Supreme Court touches on that due-process issue. As the Goldwater Institute’s Timothy Sandefur explains, the Arizona Clean Elections Commission accused an educational foundation of running political ads. The ALJ sided with the foundation in a jurisdictional matter – and then the commission simply overrode that decision.

“If John Does is charged with, say, running a business without a required license, the agency could level an accusation, and allow him to appear at a hearing to argue why the agency is wrong,” Sandefur wrote. “But even if he persuades the judge to rule in his favor, the agency can simply set aside that ruling and declare John guilty notwithstanding.”

As Sandefur added, bureaucracies “hold immense power to control how businesses operate, how private property is used, and countless other aspects of private life,” yet the law often allows them “to override the basic principles of due process.”

This entire regulatory appeals process provides a fig leaf of independence, but that patina of judicial oversight is arguably worse than rule by edict. In the latter case, we at least know what’s going on. With a process where the agency almost always wins, the government can claim it thoroughly vetted the defendant’s allegations through a fair process.

Defendants in administrative proceedings have the right to their day in the genuine court system, but defendants generally can’t get there until they’ve exhausted their administrative remedies, which can sometimes take years.

When defendants finally get to court, judges often defer to the expertise of the administrative law judge and refuse to question the facts those “experts” have established. In some cases, judges won’t allow evidence that was never presented as part of the agency’s proceeding. The current system not only delays the application of justice, but it tips the scales throughout the process.

When an individual is fighting the government – either the IRS or any of the hundreds of alphabet-soup agencies – most rules are written in government’s favor. These include sovereign immunity and qualified immunity to protect the government and its officials from being responsible for unconstitutional actions, as well as evidentiary rules and timetables that typically benefit the government.

In an American Bar Association Journal article about the Soviet Union’s legal system, it explained that, “courts are not simply judicial bodies as we know them. They are part and parcel of the single apparatus charged with bringing the dream of the Soviet state to its full reality.” Likewise, these American administrative processes simply reinforce what Sandefur refers to as the “Administrative State.”

How did we get here? These regulatory appeal processes evolved as a reasonable means to provide recourse when citizens petitioned the government for, say, a disability payment or some other financial benefit. As regulatory agencies’ power expanded in the 1970s, these quasi-legal systems were increasingly used to resolve disputes whereby the government accused citizens of violations.

More fundamentally, this system is an outgrowth of the progressive tendency to elevate the rule by experts over the protection of individual rights. There’s no obvious solution, but Americans ought to understand that the growth in government regulatory bodies ultimately undermines our rights. Our legal system is still praiseworthy, but it’s more difficult than ever to get your day in court.

Steven Greenhut is Western region director for the R Street Institute and a member of the Southern California News Group editorial board. Write to him at sgreenhut@rstreet.org.

Sat, 18 Feb 2023 14:59:00 -0600 Steven Greenhut en-US text/html https://www.dailynews.com/2023/02/18/the-deck-is-stacked-in-favor-of-government-agencies-thats-a-threat-to-the-rights-of-all-americans/
Killexams : Thousands of Chinese Retirees Protest Government Cuts to Benefits

Thousands of retirees confronted local officials and the police outside a popular park in the central Chinese city of Wuhan to demand the repeal of recent cuts in government-provided medical insurance for seniors.

The protest on Wednesday, the second in Wuhan in a week, was the latest sign of strain on the finances of China’s local governments, which are responsible for covering much of the cost of everything from health care to heating homes. China’s “zero Covid” policies, dictated by Beijing over the past three years, saddled those localities with additional costs, while a downturn in the real estate market eroded a reliable stream of revenue.

Video footage that circulated online indicated that large crowds gathered around Zhongshan Park in Wuhan, as the police tried to divide them by imposing barricades. When police officers tried to push the crowds back, older men and women refused to back off and shouted in officers’ faces. Some sang songs like “The Internationale,” an anthem employed by both the ruling Communist Party and by protesters, who have used it to suggest that the party has strayed from its ideological roots.

In Wuhan, seven witnesses to the protest and two other residents described what they called a large demonstration during the day. One witness said he had seen police officers roughly detain protesters and lead them away.

On Thursday, a couple hundred seniors gathered in groups at the same park at midday, angrily discussing their unhappiness with the health insurance policy changes. Security was tight, with plainclothes officers milling around, filming people as they talked. Nearly 100 uniformed officers stood behind crowd control barriers.

Social frictions in China may be reappearing as economic growth slows and the population ages. China has one of the world’s highest levels of income inequality. The protest Wednesday took place near a luxury mall with street-level stores for brands like Dior, Louis Vuitton and Versace.

The protests were about China’s medical insurance system for urban residents. The system consists of two parts: a collective pool of funds and each individual’s account. As part of a restructuring of the national health insurance system, local governments are reducing the amount of money deposited into the personal accounts.

Protesters who gathered on Feb. 8 had vowed to return in a week if their demands that the local government restore insurance contributions for retirees to previous levels were not met.

The Wuhan government, in a document posted on its website, said that while it was true that the reforms would result in lower payments to everyone’s personal insurance accounts, ultimately there would be lower out-of-pocket expenses for certain individuals, because the collective pool would shoulder more of a person’s health care costs for routine hospital visits.

In addition to the protest in Wuhan, videos also surfaced online on Wednesday of a demonstration of retirees in the port city of Dalian, in Liaoning Province. Last month, a crowd of retirees gathered outside government offices in the southern city of Guangzhou to protest the reduction in government contributions to their personal health insurance accounts, according to videos posted online.

Alfred Wu, an associate professor at National University in Singapore who specializes in political and economic issues in China, said the protesters, many of whom are retired government workers or employees of state-owned companies, were upset at what they saw as a broken promise.

They accepted years of working for low salaries with the expectation that they would receive generous health care and pensions in retirement. Workers in China also expected to retire fairly young by international standards — by 50 or 55 for many women and by 55 or 60 for many men, though it is very common for retired older workers to take part-time jobs.

The trade-off on retirement benefits has become increasingly unsustainable in the face of China’s looming demographics challenges, in which the number of old people is growing more rapidly than that of young people entering the work force.

When Covid struck, local governments had another financial burden: paying for extensive mass testing and quarantine facilities mandated by the central government.

“The Covid measures accelerated a problem that was already looming on the horizon,” Mr. Wu said.

Local governments across China are facing financial crises. In the mid-1990s, they lost most of their ability to collect taxes because of a government policy change. They were given broad authority instead to borrow money, or to raise money by selling long-term leases of state-owned land to developers.

Sales of land leases boomed, and were equal to roughly 7 percent of the entire economy’s output in recent years. Even that money was not enough to pay for local governments’ extensive investments in roads, bridges, rail lines, urban parks and other projects. Provinces, cities and towns also borrowed very heavily, often using state-owned enterprises to do so.

A slow-motion housing crisis since the autumn of 2021 has now disrupted China’s model for local government financing. With dozens of developers defaulting on at least some of their debts, they have pulled back sharply from leasing further land. Government revenues from land transfers dropped by nearly a quarter last year.

That deprived local governments of money even as their expenses surged because of “zero Covid” policies enacted by Beijing.

Caught between falling revenues and rising costs, local governments have responded by delaying pay for civil servants and enacting broad spending cuts. Many local governments in Hebei Province, which surrounds Beijing on three sides, could not even afford to continue heating subsidies for natural gas during the winter, leaving residents to shiver during a record-setting cold wave.

Last month, hundreds of workers who had been hired for the government’s mass testing programs took to the streets to demand unpaid wages. A month prior, medical students at universities and hospitals, many of whom were pressed into duty as the country’s health care system strained to handle a flood of Covid cases, protested for better pay and more protective equipment.

Li You contributed research.

Wed, 15 Feb 2023 16:46:00 -0600 en text/html https://www.nytimes.com/2023/02/15/business/wuhan-china-protests.html
Killexams : Analysis: U.S. food benefits for poor to shrink as pandemic provisions end

Feb 16 (Reuters) - Low-income Americans will soon receive less in food assistance or completely lose their eligibility for the benefits, as the federal government ends policies adopted at the beginning of the COVID-19 pandemic that kept millions from going hungry at a time of lockdowns and rising unemployment.

Anti-hunger advocates warned that the looming drop in aid could undo progress toward a Biden administration goal to end U.S. hunger by 2030. The Republican-controlled U.S. House of Representatives may also pursue further cuts to food assistance to shrink the U.S. deficit.

"It’s going to put millions of households at risk of hunger," said Eric Mitchell, president of the Alliance to End Hunger.

The changes mean cuts of about $82 a month beginning in March for recipients of Supplemental Nutrition Assistance Program (SNAP) benefits, said Ellen Vollinger of the Food Research & Action Center, an anti-hunger group. The average SNAP benefit will be about $157 after the reduction.

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Since Congress passed the Families First Coronavirus Response Act in March 2020, states have been able to allocate the maximum allowable benefits to SNAP recipients, instead of applying deductions tied to income and other factors.

Initially, those "emergency allotments" were linked to the pandemic public health emergency. But in December's spending bill fight, Congress negotiated a compromise to end them in February in exchange for a new summer food program for children.

President Joe Biden's administration has also said it will lift the coronavirus public health emergency in May. This will end other changes that expanded access to SNAP, like a suspension of the program's three-month time limit for adults without children and exemptions for some college students.

In recent months, the additional benefits tied to the pandemic response have come to about $3 billion a month, according to the Center on Budget and Policy Priorities (CBPP).

Those higher benefits kept the percentage of Americans experiencing food insecurity steady at 10% through 2021, even as the first two years of the pandemic drove up unemployment, said Dottie Rosenbaum, senior fellow and director of federal SNAP policy at CBPP.

Meanwhile, food insufficiency - a more severe form of food insecurity wherein households sometimes or often do not have enough to eat - dropped by about 9%, according to a study by Northwestern University's Institute for Policy Research.

A separate study from the Urban Institute said the benefits kept 4.2 million people out of poverty. Anti-hunger advocates worry the looming reduction in aid could reverse those gains.

In states where expanded benefits have already ended, 29% of SNAP recipients visited food pantries in December, compared to 22% in states that still had the benefits, according to data collected by Propel, a technology company that makes financial products for low-income people.

Debate over U.S. spending on food assistance is likely to heat up in the coming months as lawmakers negotiate a new farm bill, a legislative package passed every five years that funds nutrition, commodity, and conservation programs.

More than 76% of the current farm bill's $428 billion price tag went to food assistance programs that serve 41 million people annually. The bill expires on Sept. 30.

Democrats generally support expanding benefits, while Republicans typically oppose expansion.

"The SNAP benefit was already way too low, even before the pandemic," Rep. Jim McGovern of Massachusetts, a Democrat on the House Agriculture Committee, told Reuters in an email.

“We need to seriously boost benefit levels to reflect the reality of food costs today," he said.

Food prices are up 10% since last year, according to the Bureau of Labor Statistics.

House Republicans have indicated they might review and tighten SNAP work requirements as part of farm bill negotiations.

The House Budget Committee has also floated cuts to SNAP as a means of reducing spending in the ongoing debt limit fight.

Reporting by Leah Douglas; Editing by David Gregorio

Our Standards: The Thomson Reuters Trust Principles.

Thomson Reuters

Washington-based award-winning journalist covering agriculture and energy including competition, regulation, federal agencies, corporate consolidation, environment and climate, racial discrimination and labour, previously at the Food and Environment Reporting Network.

Wed, 15 Feb 2023 23:15:00 -0600 en text/html https://www.reuters.com/world/us/us-food-benefits-poor-shrink-pandemic-provisions-end-2023-02-16/
Killexams : The end is near for outdated government financial reporting

By way of a few paragraphs inserted into the recently enacted 4,000-page 2023 National Defense Authorization Act, Congress mandated that state and local governments prepare their annual financial statements in a standardized format that is electronically searchable. The provision effectively drags state and local governments kicking and screaming into the 20th century, if not the 21st.

As worthy an accomplishment as this appears to be, it was resisted mightily by the state and local government financial community. Most prominently, they argue, the measure can potentially result in a major transfer of accounting and reporting regulatory authority from states to the federal government, thereby undercutting what many consider a fundamental principle of federalism. Moreover, state and local officials see it as one more costly unfunded mandate imposed upon their governments.   

The opposition by state and local governments is understandable. But they have no one to blame but themselves. To this day they are wedded to a technological past. In a perverted way, they may be getting their just desserts. The act requires them to do little more than what they should have done years ago on their own for the benefit of their investors and other stakeholders.  

Implicit in the act is that governments will have to prepare their financial statements using XBRL (eXtensible Business Reporting Language) or some comparable reporting framework. This is the format that the Securities and Exchange Commission, which would be charged with implementing the new provision, currently demands corporations use in their financial filings. XBRL requires all entities to classify each of the elements of their financial statements (e.g., assets, liability, revenues and expenses) by identical rules and in machine readable form.    

Developing an XBRL or similar taxonomy inevitably involves establishing accounting standards beyond merely assigning accounts to specific boxes in a spreadsheet. Currently, accounting standards are developed by the Governmental Accounting Standards Board (GASB), a nongovernment entity. Although its pronouncements are recognized as “generally accepted accounting principles” by the accounting profession as well as state governments themselves, the states nevertheless retain ultimate authority over the form and content of financial statements.   

While nothing in the act explicitly transfers standard-setting authority from the GASB to the SEC, when a camel gets its nose in a tent, its tail cannot be far behind. In other words, the act may be a sign of greater SEC—and thus congressional—involvement in financial reporting matters previously left to GASB and individual states.   

Although XBRL reporting is a necessary step forward, it is nothing but a baby step. Embarrassingly, state and local governments are still committed to paper annual financial reports. Virtually all governments large enough to issue public debt post their annual financial reports as PDF files on their websites. But these files are, in essence, nothing more than photos of their paper reports, which for even just mid-sized governments can run in excess of 250 pages. They take virtually no advantage of computer capabilities that would make their annual reports more user-friendly and ultimately useful to governments various stakeholders.  

Genuine electronic reports, as opposed to PDF files, can provide detailed information for those who need it (e.g., incorporating electronic links to specific sections facilitating data “drill-downs”) without overwhelming other users with excessive amounts of information. This would Boost the efficiency of the municipal securities market offering benefits to both governments that sell debt and the investors who buy it. This isn’t rocket science. In fact, it is not even computer science. It’s computer programming 101.   

While not addressed by the act, an even greater challenge for investors and other financial report users than the difficulty of navigating through paper-like reports is the tortoise-like speed at which state and local governments issue their financial statements. According to Merritt Research Services, the median time between the end of a government’s fiscal year and the date that its auditors sign off on the financial statements is 166 days. This contrasts with deadlines of 60 to 90 days that the SEC imposes upon businesses to file their annual reports. Since unfunded pension fund liabilities are often a government’s largest liability, and are directly dependent upon financial market valuations, this six-month delay effectively renders the financial statements useless for anyone charged with assessing the government’s fiscal sustainability.   

The costs of the improved technology required to issue financial statements that are both timelier and more informative cannot be minimized. Neither, however, can the analytical costs inherent in the status quo. These costs are currently borne by bond underwriters, rating services and individual investors. Ultimately, however, they are passed back to taxpayers in the form of higher borrowing costs paid by state and local governments as a result of unnecessary levels of financial information uncertainty.  

It is to be hoped that the measure just enacted will be a lesson learned by state and local governments. If they fail to do voluntarily what needs to be done for the investor community and their constituents, the federal government will be more than happy to do it for them.

Thu, 09 Feb 2023 04:00:00 -0600 en text/html https://gcn.com/cloud-infrastructure/2023/02/end-near-outdated-government-financial-reporting/382768/
Killexams : Financial sextortion via social media a growing risk for teenage boys, FBI warns

A growing number of adolescent boys are falling victim to an online scheme called financial sextortion, wherein someone tricks them into sending inappropriate pictures and messages before extorting them for money or favors, FBI officials say.

The federal agency and the U.S. Department of Homeland Security received more than 7,000 allegations of financial sextortion in 2022, up significantly since 2021, said David Martinez, the assistant special agent in charge who oversees FBI Houston’s criminal branch.

“The victims of this, unfortunately, are some of the most vulnerable population, young children,” Martinez said. “And, with this crime increasing, we’re seeing an increase in the number of suicides connected to this.”

MORE NEWS: Houston PD search wastewater plant in falsified document probe

Federal authorities for months have been raising awareness of the crime, in hopes that parents and children might be better guarded against it. The Houston region is not immune to rising instances of financial sextortion, Martinez said.

But quantifying what jurisdictions are most prone to financial sextortion is harder than it might seem, Jay Albanese, a professor of government and public affairs at Virginia Commonwealth University, said. Albanese studies organized and transnational crime, and spent time recently looking into the types of cybercrimes.

“With cybercrimes, the whole idea of jurisdiction is thrown out the window,” he said. “It matters less where you are physically. If you can commit an offense over the internet, on a computer or phone, where is the jurisdiction?”

Investigators have found that many perpetrators of financial sextortion operate overseas, from jurisdictions not easily reached by U.S. law enforcement, Martinez explained.

Criminals have developed a system where they reach out to teenagers through social media, online gaming, or elsewhere, and foster a relationship with them, Martinez said. Many of those operating the schemes will pretend to be a girl close to the victim’s own age. Sometimes perpetrators might go so far as to clone social media profiles of someone the victim knows in real life. Sometimes they might even hack a legitimate account.

On HoustonChronicle.com: Ground stop issued for planes at Hobby Airport after jet goes off runway

Fri, 17 Feb 2023 10:30:00 -0600 en-US text/html https://www.houstonchronicle.com/news/houston-texas/crime/article/fbi-financial-sextortion-growing-risk-boys-17791073.php
Killexams : Financial Software And Financial Information Service Market Size Global Research Report, 2023 - 2029

The MarketWatch News Department was not involved in the creation of this content.

Feb 19, 2023 (The Expresswire) -- [103 Insights] Top “Financial Software And Financial Information Service Market” Size 2023 Key players Profiled in the Report are [, Gomoxie, Oracle, Tripwire, Kaspersky, Trendmicro, Checkpoint, NCR, Cigital, Luxoft, Beyondtrust,] most important, influential, or successful companies, brands, or individuals within a Financial Software And Financial Information Service market 2023 to 2029.

Short Description About Financial Software And Financial Information Service Market:

Complete Overview of the Global Financial Software And Financial Information Service Market: -Providing a complete overview of the global Financial Software And Financial Information Service market is a complex task, as there are many different markets and industries around the world. However, I can provide a high-level summary of some of the key trends and factors that are currently impacting the global Financial Software And Financial Information Service market. Economic Growth, Technology, E-commerce, Globalization, Sustainability, Demographics, Political and regulatory risks These are just a few of the many factors that are currently shaping the global market. It is a dynamic and ever-changing environment, and businesses that are able to adapt to new trends and challenges are likely to be the most successful.

Financial Software And Financial Information Service Market Provides High-class Data: - It is true that the global Financial Software And Financial Information Service market provides a wealth of high-quality data for businesses and investors to analyse and make informed decisions. There are many different sources of market data, including government statistics, industry reports, financial news, and market research firms. Some of the key types of data that are available from the global Financial Software And Financial Information Service market include, Economic data, Financial data, Industry data, Consumer data However, it is important to carefully evaluate the quality and reliability of data sources and to use multiple sources of data to gain a more complete understanding of the Financial Software And Financial Information Service market.

Get a sample Copy of the Financial Software And Financial Information Service Report 2023

Top Country Data and Analysis: - for United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc. It also throws light on the progress of key regional Financial Software And Financial Information Service Markets such as North America, Europe, Asia-Pacific, South America and Middle East and Africa

Description and Analysis of Financial Software And Financial Information Service market: - Financial Software And Financial Information Service Market analysis is the process of evaluating market conditions and trends in order to make informed business decisions. A market can refer to a specific geographic location, particular industry or sector, develop strategies for entering or expanding in a particular Financial Software And Financial Information Service market.

Financial Software And Financial Information Service Market analysis can also involve forecasting future market trends and conditions, based on factors like technological change, regulatory developments, or demographic shifts. This can be used to develop long-term strategic plans and to identify potential risks and opportunities for growth.

Overall, market analysis is an important tool for businesses looking to enter or expand in a particular Financial Software And Financial Information Service market. By carefully evaluating Financial Software And Financial Information Service market conditions and trends, businesses can make more informed decisions and develop strategies that are better aligned with customer needs and Financial Software And Financial Information Service market opportunities.

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Financial Software And Financial Information Service Marketsize, segment (mainly coveringMajorType (, Financial Software, Financial Information Service, ,),End Users (, Government sector, Defense sector, Education and Academia sectors, BFSI sector, IT sector, Others,), and regions), recent status, development trendsa and competitor landscape. Furthermore, the 103 pages report provides detailed cost analysis, supply chain.

Technological innovation and advancement will further optimize the performance of the product, making it more widely used in downstream end users. Also, Consumer behaviour analysis and market dynamics (drivers, restraints, opportunities) provides crucial information for knowing the Financial Software And Financial Information Service market.

Inquire or Share Your Questions If Any Before the Purchasing This Report https://www.360marketupdates.com/enquiry/pre-order-enquiry/20699332

Market segment by Region/Country including: -

● North America (United States, Canada, and Mexico) ● Europe (Germany, UK, France, Italy, Russia and Spain, etc.) ● Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.) ● South America (Brazil, Argentina, Colombia, etc.) ● Middle East and Africa (South Africa, UAE, Saudi Arabia, etc.)

User center of Financial Software And Financial Information Service market 2023

    Yes. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, and we elaborate at full length on the impact of the pandemic and the war on the Precious Metals Industry.

    Final Report will add the analysis of the impact of COVID-19 on this industry.


    The Global Financial Software And Financial Information Service market is anticipated to rise at a considerable rate during the forecast period. the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

    Financial Software And Financial Information Service Market -SegmentationAnalysis:

    Report further studies the market development status and future Financial Software And Financial Information Service Market trend across the world. Also, it splits Financial Software And Financial Information Service market Segmentation by Type and by Applications to fully and deeply research and reveal market profile and prospects.

    Segment by Type

    ● Financial Software ● Financial Information Service

    Which growth factors drives the Financial Software And Financial Information Service market growth?

    Increasing use of is expected to drive the growth of the Financial Software And Financial Information Service Market.

    Segment by Application

    ● Government sector ● Defense sector ● Education and Academia sectors ● BFSI sector ● IT sector ● Others

    Which market dynamics affect the business?

    The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

    It also provides accurate information and cutting-edge analysis that is necessary to formulate an ideal business plan, and to define the right path for rapid growth for all involved industry players. With this information, stakeholders will be more capable of developing new strategies, which focus on market opportunities that will benefit them, making their business endeavors profitable in the process.

    Get a sample PDF of report https://www.360marketupdates.com/enquiry/request-sample/20699332

    Financial Software And Financial Information Service Market - Competitive Analysis:

      With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.
      Please find the key player list in Summary.

      Financial Software And Financial Information Service Industry leading players are the ones that have the biggest impact, the most market shares 2023, the best reputation, or the highest revenue within their field they are

      Who are the Leading Players in Financial Software And Financial Information Service Market?

      ● Gomoxie ● Oracle ● Tripwire ● Kaspersky ● Trendmicro ● Checkpoint ● NCR ● Cigital ● Luxoft ● Beyondtrust

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        Both Primary and Secondary data sources are being used while compiling the report.
        Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users.
        Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.

        Please find a more complete list of data sources in Chapters:

        1.To study and analyze the global Financial Software And Financial Information Service consumption (value) by key regions/countries, product type and application

        2.To understand the structure of Financial Software And Financial Information Service Market by identifying its various sub segments.

        3.Focuses on the key global Financial Software And Financial Information Service manufacturers, to define, describe and analyze the value, market share, market competition landscape, Porter's five forces analysis, SWOT analysis and development plans in next few years.

        4.To analyze the Financial Software And Financial Information Service with respect to individual growth trends, future prospects, and their contribution to the total market.

        5.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

        6.To project the consumption of Financial Software And Financial Information Service submarkets, with respect to key regions (along with their respective key countries).

        7.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

        8.To strategically profile the key players and comprehensively analyze their growth strategies.

        Get a sample Copy of the Report at https://www.360marketupdates.com/enquiry/request-sample/20699332

        Major Points from Table of Contents

        1 Market Overview

        1.1 Financial Software And Financial Information Service Introduction

        1.2 Market Analysis by Type

        1.3 Market Analysis by Applications

        1.4 Market Analysis by Regions

        1.5 Market Dynamics

        2 Manufacturers Profiles

        3 Global Financial Software And Financial Information Service Market Competition, by Manufacturer

        4 Global Financial Software And Financial Information Service Market Analysis by Regions

        5 North America Financial Software And Financial Information Service by Countries

        6 Europe Financial Software And Financial Information Service by Countries

        7 Asia-Pacific Financial Software And Financial Information Service by Countries

        8 Latin America, Middle and Africa Financial Software And Financial Information Service by Countries

        9 Financial Software And Financial Information Service Market Segment by Type

        10 Financial Software And Financial Information Service Market Segment by Application

        11 Financial Software And Financial Information Service Market Forecast (2016-2021)

        12 Sales Channel, Distributors, Traders and Dealers

        13 Appendix

        13.1 Methodology

        13.2 Data Source

        And more…

        Key Reasons to Purchase

        ● To gain insightful analyses of the market and have comprehensive understanding of the global Financial Software And Financial Information Service Market and its commercial landscape. ● Assess the production processes, major issues, and solutions to mitigate the development risk. ● To understand the most affecting driving and restraining forces in the Financial Software And Financial Information Service Market and its impact in the global market. ● Learn about the Financial Software And Financial Information Service Market strategies that are being adopted by leading respective organizations. ● To understand the future outlook and prospects for the Financial Software And Financial Information Service Market. ● Besides the standard structure reports, we also provide custom research according to specific requirements

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        Press Release Distributed by The Express Wire

        To view the original version on The Express Wire visit Financial Software And Financial Information Service Market Size Global Research Report, 2023 - 2029


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The MarketWatch News Department was not involved in the creation of this content.

Sat, 18 Feb 2023 23:20:00 -0600 en-US text/html https://www.marketwatch.com/press-release/financial-software-and-financial-information-service-market-size-global-research-report-2023---2029-2023-02-19
Killexams : Budget 2023: Calculator launched to help Singaporeans find out benefits
A calculator has been launched for Singaporeans to find out what among the Budget 2023 benefits they are eligible for and how much. (PHOTO: REUTERS/Edgar Su)

SINGAPORE – A calculator has been launched for Singaporeans to find out what among the Budget 2023 benefits they are eligible for and how much.

The "Support For You" calculator was mentioned by Finance Minister Lawrence Wong in a Facebook post on Friday (17 February).

"There were many support measures for Singaporeans announced in #SGBudget2023. It may not be so easy to keep track of all the schemes," Wong, who is also Deputy Prime Minister, said. "So our teams from GovTech (Government Technology Agency of Singapore) and Ministry of Finance (Singapore) have come out with a ‘Support For You’ calculator, which can help you estimate the benefits you and your household members can receive under our various packages and schemes."

A slew of financial help and enhanced benefits were announced by Wong during his Budget speech on Tuesday. These include a one-time "cost-of-living special payment", another S$300 in Community Development Council (CDC) vouchers, an additional Housing and Development Board (HDB) BTO ballot and enhanced grants for first-time buyers, and more money and paternity leave for couples wanting children.

Wong said that Singaporeans will "have to brace ourselves for a period of relatively higher inflation, both globally and also in Singapore".

"We cannot say how long this will last, but we expect Singapore's headline inflation to remain high, at least for the first half of this year," he noted. "The government will therefore do more to help Singaporeans through this difficult period."

Here are some things to note if you're using the calculator:

  • The schemes listed are applicable only to Singaporeans.

  • The calculator will require information about your assessable income and annual value of your home.

  • You may include Singaporean family members residing together with you in the same address. This is to obtain an overview of the individual and household benefits that you may receive.

  • The total benefits shown are estimates based on your inputs.

  • Projections for payouts in the future are based on the assumption that the information you provided remains unchanged.

Refer to the FAQ for more.

Follow us on Facebook, Instagram, TikTok and Twitter.

Yahoo Singapore Telegram

Fri, 17 Feb 2023 11:53:00 -0600 en-US text/html https://news.yahoo.com/budget-2023-calculator-singaporeans-benefits-015211077.html
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