Murfreesboro, TN – The Certificate of Achievement of Excellence in Financial Reporting has once again been awarded to the City of Murfreesboro by the Government Finance Officers Association of the United States and Canada (GFOA).

This is the 13^th consecutive year the award has been presented to Murfreesboro for excellence in financial reporting.

The Certificate of Achievement in Financial Reporting is the highest form of recognition in the area of governmental accounting and financial reporting, according to GFOA, and its attainment represents the highest and best among government and management accomplishments.

An Award of Financial Reporting Achievement (AFRA) was also awarded to the individual designated by the government as primarily responsible for preparing the award-winning CAFR.

A commemorative plaque will be mailed to the City of Murfreesboro and its Tax and Finance Department, headed by Murfreesboro City Recorder Melissa Wright, who will receive the AFRA.

The CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive ‘spirit of full disclosure’ to clearlyt communicate its financial story and motivate potential users the user groups to read the CAFR.
GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, Ill. And Washington, D.C.

Dempsey Vantrease & Follis PLLC, a certified public accounting and business consulting firm, is kicking off a new website and blog to help businesses find answers to accounting, bookkeeping and tax questions. Askdvf.com goes live in August and will focus on answering the questions most frequently asked by clients and friends.  An easy to use question and answer format will provide business and individuals with feedback to their inquiries.

Over the last three decades, Dempsey Vantrease & Follis PLLC (DVF) has grown into a regionally recognized firm known for their experience and resources in providing the highest level of accounting, consulting and business services.  Askdvf.com allows the firm to help area businesses in a new on-line knowledge sharing format.  The addition of Askdvf.com adds to the existing web-based resources provided by DVF including monthly newsletters, e-news timely articles, a tax form library, client tax organizers and more.

For additional information, visit us at www.askdvf.com or www.dvf-pllc.com.

DVF provides a full range of services including auditing, compilations and reviews, individual and business tax preparation, fiduciary and estate tax preparation, payroll processing, and bookkeeping.  With offices in Murfreesboro and Lebanon, DVF has been named in the top 15 CPA firms by size in Middle Tennessee over the last five years by the Nashville Business Journal.

Murfreesboro, TN - Tim Tipps has been named Financial Services Officer for Farm Credit Services (FCS) of Mid-America in Murfreesboro, TN. Tipps will service loans and financially related services for a $17 billion financial lending cooperative serving over 85,000 farmer-producers, agribusinesses and rural residents throughout Indiana, Kentucky, Ohio and Tennessee. Tipps will service Rutherford and Cannon Counties, after a brief stint working for Farm Credit Services in the McMinnville, Tennessee area.

Tipps joins FCS as a seasoned professional owning and operating Appraisal Source of Tennessee for the past thirteen years. Prior to becoming an appraiser, Tipps served over 16 years in the banking industry. Tipps also owns and farms The Farm at Hollow Springs in Cannon County.

Tipps is a member of the Tennessee Agritourism Association, Blue Raider Athletic Association, Murfreesboro Parks and Recreation Commission, a board member of Rutherford County CrimeStoppers, and is a past state President, Colonel and Life Member of the Tennessee Jaycees. Moreover, Tim is a member of the Rutherford County Farm Bureau, associate member of the Appraisal Institute, and charter member of the Tennessee Appraiser Coalition. In addition to the foregoing, Tipps is a graduate of Middle Tennessee State University, and attended the University of Tennessee, where he served as an athletic trainer for the Volunteer athletic programs. Tim is also a graduate of the Southeastern School of Banking and Southeastern School of Commercial Lending.

“Tim possesses a great deal of knowledge, skill and resources that will complement our Murfreesboro office,” says Mark Wilson, Regional Vice President. “Furthermore, Tim’s long time involvement in the Murfreesboro community gives him an added advantage. I know our current customers and new clients will enjoy working with Tim.”

Farm Credit Services of Mid-America makes loans for farm and rural living purposes, including real estate, operating, equipment, and housing and related services such as leasing and insurance. To reach our office, please call 615.893.7631 or visit our website at www.e-farmcredit.com.

Hobnob is all about people interacting with people. However, sometimes visitors forget that Hobnob Murfreesboro is run by real people, not just futuristic supercomputers. That is why Jeff Brown from Hobnob Murfreesboro will be appearing on Solace Wealth Management’s weekly podcast this Friday the 7^th at 10 am. Solace Wealth Management is a powerful financial resource for Murfreesboro residents, and Hobnob is excited to have the privilege of appearing on their prestigious podcast. Jeff will be live on the air Friday talking about all things Hobnob business.

To add even more excitement, during the broadcast listeners can call (347) 855-8163 and ask Jeff their own questions about Hobnob. The broadcast will be taking place at Murfreesboro’s brand new Chamber of Commerce and will also guest star Kelli Beam director of chamber membership. The broadcast is roughly an hour, and it is filled to the brim with powerful tips about local finance. We certainly hope you will tune in to hear Keli and Jeff live at http://www.blogtalkradio.com/solacewealthmanagement, or listen to the podcast after it is archived at http://www.solacewealthmanagement.com/.

When: Jan 7^th 10am

Where can you listen: http://www.blogtalkradio.com/solacewealthmanagement

Call in number: (347) 855-8163

Murfreesboro, TN - FirstBank is pleased to announce the addition of Jennifer Starrett. Jennifer will be serving the Murfreesboro area as an Investment Representative based out of FirstBank's Murfreesboro Main office. Jennifer brings over 6 years of financial planning experience to FirstBank and most recently was employed by Ameriprise Financial Services.  She looks forward to serving you.  "Jennifer's financial planning experience will bring our Murfreesboro area FirstBank customers valuable insight into their own future security in these uncertain times", said Bill Reid SVP Investment Division Manager.

About FirstBank

FirstBank is Tennessee's largest independently owned and operated bank, with locations across the state. The bank, headquartered in Lexington, Tenn., services every major metropolitan market in the state and, with nearly $2 billion in total assets, has the resources to provide a comprehensive variety of financial services and products.

NASHVILLE, TN – Effective December 6, 2010, the Tennessee Department of Labor and Workforce Development will begin offering unemployed workers a new electronic option for receiving their unemployment benefits – debit cards. Shelby, Lauderdale, Tipton, and Fayette counties have been chosen as a test area for the new option before making it available to the rest of the state.

“Paper checks have inherent problems as they can be lost or stolen, and mail delays create a lot of anxiety for claimants,” said Commissioner James Neeley. “The state will save a great deal of time and money processing and delivering checks, and check fraud will no longer be an issue.”

Last year, the state issued nearly 8 million unemployment checks, and it is projected electronic payments will save the state approximately $1 million annually in postage and paper costs.

This option will only be available for those filing new unemployment claims in person at a Memphis area local office. Individuals filing by phone and the Internet and those who are already receiving benefits will continue to receive benefits by way of a paper check. Eventually in 2011 all claimants will have the option of receiving benefits by debit card or direct deposit as paper checks will no longer be available.

The debit cards are called Tennessee Automated Payment (TAP), and are issued by JP Morgan/Chase bank. Claimants who choose this option should receive their TAP card directly from Chase Bank within seven to 10 business days of filing their initial claim. Issuance of debit cards will not delay payments. Eligible claimants will be able to use the TAP card at any retailer who accepts VISA debit cards. Claimants will also be able to make cash withdrawals at any Chase or MoneyPass ATMs using the TAP card.

NASHVILLE, TN - The Internal Revenue Service is looking to return $2.48 million in undelivered refund checks. A total of 2,091 Tennessee taxpayers are due one or more refund checks that could not be delivered because of mailing address errors.

“IRS is ready to reissue these checks once the taxpayers give us a correct address," said IRS spokesman Dan Boone. "Taxpayers are warned that e-mails alerting them of pending refunds are not ever from the IRS but are identity-theft scams."

Taxpayers can generally update their address or check the status of their refund with the “Where’s My Refund?” tool on IRS.gov or by calling 1-800-829-1954. To use the tool, a taxpayer must submit his or her Social Security number, filing status and amount of refund shown on the 2009 tax return.

In Tennessee, undelivered refund checks average $1,188 this year, compared to $958 last year. Nationwide, the average undelivered check is $1,471, compared to $1,148 last year. The increase is possibly due to recent changes in tax law which introduced new credits or expanded existing credits, such as the Earned Income Tax Credit.

Taxpayers can put an end to lost, stolen or undelivered checks by choosing direct deposit when they file. Taxpayers can use direct deposit when e-filing or filing paper returns, but e-filing significantly reduces filing errors and speeds up refund processing.

Taxpayers in Rutherford County saved $111,566 in cuts to inmates’ meals recently at the Adult Detention Center, Sheriff Robert Arnold said.

Arnold and Detention Maj. Guy Goff trimmed the budget by eliminating non-nutritional items saving:

Coffee, creamer and sugar: $26,000

Kool-Aid: $25,805.15

Condiments such as jelly, mustard, mayonnaise, ketchup and salt and pepper: $23,293.

Also, they saved by substituting different types of food. For example, switching from canned or whole fruit to applesauce will save another $13,000, substituting the rising cost of bacon to fried bologna for breakfast will save another $13,468 and using bread instead of hot dog and hamburger buns saved another $10,000.

Cost reductions show it costs 90 cents a meal for the inmates or less than $3 a day.

The changes comply with the minimum standards by the Tennessee Correctional Institute. Dietary guidelines require three servings of two to three ounces of meat and protein daily. Eggs and beans are considered proteins.

“We have to feed working inmates three meals per day with no more than a 14-hour interval,” Arnold said. “Nowhere in the guidelines do we have to offer coffee. Coffee is a want, not a need.”

More than 700 inmates are now in custody at the detention center. Family members and friends may contribute to a commissary fund allowing inmates to buy any of the items eliminated. For example, inmates may buy coffee, sugar and creamer from the commissary fund.

More cuts are expected. For example, bids are due in December to provide 185 loaves of bread per day for the inmates who are served six pieces of bread daily.

“We are looking to save as much as we can on bread,” Arnold said. “We are willing to partner with private business and restaurants to get a reduced price in the future.”

Arnold and Goff will consider other savings such as serving only two meals per day for non-working inmates as allowed by state guidelines.

“We have good, nutritious meals,” Arnold said. “The food service employees prepare meals within the dietary guidelines and budget.”

The staff is looking at other ways to save taxpayers’ dollars. People may call or email with their ideas.

“I take this budget seriously,” Arnold said. “I treat it like it’s coming out of my pocket. We want to save every penny we can for the hardworking taxpayers of Rutherford County to be fiscally responsible

WASHINGTON – Nearly 99 million individuals filed their federal income tax returns electronically during 2010, a 3 percent increase in the IRS e-file rate. Of the 141.5 million returns filed so far this year, almost 70 percent were filed electronically.

Each year, more taxpayers chose to e-file their tax returns. Last year, nearly 95 million taxpayers or 67 percent used e-file. In the past decade, the number of individual tax returns e-filed has increased by 145 percent. The overall number of individual tax returns increased only by 8 percent. IRS e-file is no longer is the exception; now it is the norm.

Year

Filed Total

Returns e-Filed

Returns        Percent

e-filed
2001    130,965,000     40,244,000      30.73% 
2002    131,728,000     46,892,000      35.60% 
2003    131,557,000     52,944,000      40.24% 
2004    132,200,000     61,507,000      46.53% 
2005    133,933,000     68,476,000      51.13% 
2006    136,071,000     73,255,000      53.84% 
2007    140,188,000     79,979,000      57.05% 
2008    153,650,000     89,853,000      58.48% 
2009    141,376,000     94,980,000      67.18% 
2010    141,536,000     98,740,000      69.76%

Home Computer e-Filers

Taxpayers who prepare their own tax returns using home computers continued to set the pace for e-file. This year, more than 35 percent of e-filers prepared and filed their returns themselves.

Almost 35 million returns were e-filed from home computers, up 8 percent from last year.

Direct Deposit Refunds

More than 74 million refunds were electronically deposited into taxpayers’ accounts, saving taxpayers a trip to the bank. More importantly, these taxpayers received their refunds at least a week faster than those receiving paper checks.

These direct deposit refunds accounted for almost 69 percent of all refunds, up from 66 percent of refunds last year. Overall, the IRS issued 109 million refunds, averaging $2,994 per refund; direct deposit refunds averaged $3,189 per refund.

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2010 FILING SEASON STATISTICS  
Cumulative through the weeks ending 11/06/09 and 11/05/10      

Individual Income Tax Returns   2009    2010    % Change       
Total Receipts   143,529,000    141,536,000     -1.4%  
Total Processed 143,079,000     141,536,000     -1.4%  

E-filing Receipts:                             
TOTAL   95,478,000      98,740,000       3.4%  
Tax Professionals       63,285,000      63,893,000       1.0%  
Self-prepared   32,193,000      34,847,000       8.2%  

Web Usage:                             
Visits to IRS.gov       275,308,302     281,765,152     2.3%   

Total Refunds:                         
Number  111,163,000     108,923,000     -2.0%  
Amount  $315.290        Billion $326.125        Billion  3.4%  
Average refund  $2,836  $2,994   5.6%  

Direct Deposit Refunds:                        
Number  72,982,000      74,460,000       2.0%  
Amount  $220.250        Billion $237.444        Billion  7.8%  
Average refund  $3,018  $3,189   5.7%

Murfreesboro, TN - The Oakland High School Personal Finance Honors classes are conducting a Personal Finance Fair on Tuesday, Nov. 16 from 6:30-8:30pm in the Oakland Middle School Auditorium at 853 Dejarnette Lane in Murfreesboro. The event is free and open to the public. The seminar will inform participants on how to save and manage their money, and present different ways to handle financial decisions in difficult economic times.

Workshops that will be presented during this fair include how to save using coupons, banking, budgeting, and much more. We will also have guest speaker finance guru Dave Ramsey's daughter, Rachel Ramsey Cruze. She will be conducting her own session called "Foundations in Personal Finance." Other speakers include the parents of Oakland High School students and business professionals from the Murfreesboro area.

For more information, contact Barbara Turner at This e-mail address is being protected from spambots. You need JavaScript enabled to view it , or Art Yasso at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .