Newspaper Archive of
Feather River Bulletin
Quincy, California
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December 31, 2008     Feather River Bulletin
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December 31, 2008
 

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BA Wednesday, Dec. 31, 2008 Feather River Bulletin ,Seniors get savings savvy with some help from Plumas Bank Traci Bue Staff Writer tbue@plurnasnews.com The senior class at Quincy Junior-Senior High School learned a few pointers about financial planning and in- vestment last week from .Stephan Murphy, investment services manager at Plumas Bank. Murphy's expertise is one i component in the mandatory Business and Finance course !for seniors initiated this "year, a curriculum designed to broaden finance instruc- tion in the classroom and ex- pand business skills needed 'in the larger world. Murphy's direct and often humorous approach to the dry world of finance made talk of stocks, mutual funds and saving strategies seem friendly, interesting and ap- plicable to the students' lives. He playfully ribbed the press and its hyperbole say- ing language like "plummet," used freely by the media, freaks people out. Planning and a balanced portfolio are key to students having mon- ey to live on come retirement age, he told the class. Murphy spoke of risk, Roth IRAs and varying investment returns. To illustrate and command the attention of even the savings impaired, he told the class that $10,000 in mutual funds invested in 1934 was now worth $70 mil- lion versus $260,000 had it been invested in a savings ac- count. Plumas Banks' Training Development Officer Angela Pehrson said she approached the district last year about providing additional support to the school's curriculum and was happy to be working with the district toward this endeavor. "I love it. This is some- thing that as parents, we've been asking for (for) a few years. It's great to see the school district taking the ini- tiative and really pushing this forward." Murphy agreed. "We've got the tools, resources and peo- ple to assist the community." Pehrson said she's been con- tacted by other school dis- tricts that expressed an inter- est in a similar program for their schools. In conjunction with teach- ers' input and curriculum ob- tained from the National En- dowment for Financial Edu- cation, the bank will make presentations throughout the year to complement the mate- rial in the two-semester pro- gram. Course instructor Terrie Redkey said the bank's part- nership is a dream for a teacher and that the required class could've been called Tools for Life. "It's useful to students, they're proud of it, and it's immediately relevant to their lives." The in-depth course gives seniors the opportunity to pursue and explore a field of interest while giving stu- dents a stronger financial knowledge and career base as they go out into the world. Components of the course include personal finance, in- surance, credit, investing, marketing, business and en- trepreneurship. The course is designed to encourage stu- dents to pursue their passion by expanding skills needed for college and employment. During the course of the program, students will identi- fy and complete a project, write a project paper and complete an oral presentation related to the topic of interest. The students will also find work with a professional mentor and engage in job shadowing and community service, if applicable, to fur- ther explore and develop career opportunities. Student Amanda Nolan, Stephan Murphy, investment services manager at Plumas Bank, gives seniors the rundown on the value of financial planning. Photo by Traci Bue whose project is child develop- ment, said the presentation from Plumas Bank taught her about savings and goals and that the business and finance class in general is important because "it teaches us a lot about business and the world." The course has been five years inthe making and is re- quired of all PUSD seniors to graduate. Juniors can enroll in the course if space allows. Redkey called the program "a fantastic opportunity for all seniors." QCSD receives clean audit for year Joshua Sebold Staff Writer jsebold@plumasnews.com The Quincy Community Service District received a relatively clean bill of finan- district just what it wanted -- an unqualified opinion. Auman reported that the district lost $348,492 in total assets this year. He explained that these losses came mostly from de- cial health at a recent board preciation of fixed assets like meeting attended by Haws, the water treatment plant. Theobald & Auman, PC. This simply reflects the John Auman, a principal at fact that the district can't af- the accounting firm, gave the ford to operate and save up money for a new treatment plan at the same time. He did note that planning was underway to explore op- tions for a new treatment plant. Auman said the district al- located $47,231 to that cause this year. He reported three findings. The first was a material weakness that he said was Your local ..... ...... .... : orward to working with you! Agreat place to connect... The 2009-2010 Plumas County Visitors Guide This colorful and comprehensive publication, produced in partnership with the Plumas County Visitors Bureau, is the area's premiere guide to picturesque Plumas County. This year introduces our all-gloss product with full color available on every page. Over 85,000 copies are printed annually and distributed at more than 400 locations throughout the Feather River Country and outlying areas. The Plumas Visitors Bureau and local chambers of commerce mail thousands of these guides to inquiries throughout the country and distribute them at various sport and recreation shows they attend. Your Only Local Complete Guide To Feather River Country: No job is too big or too small Train Spotting Golf Hiking Winter Activities Cross Country Skiing Downhill Skiing Snowmobiling Horseback Riding Mountain Biking Road Biking Boating Fishing Hunting Plumas County History Museums Wildflowers Scenic Highways 2009-2010 Events Calendar County Data Weddings Honeymoons Dining Kids Stuff State Parks River Rafting Snowboarding Swimming Lodging and Camping National Forests Parks Wilderness Areas Wildlife Watching Bird Watching Antiques Gold Panning Fall Color Tours B777 ..... q 258-3115 Val 258-3115 Cheri, Val 832-4646 Michael, Karen 28%0800 Sherri, Kay, Karen found in most small districts. He explained that there was a lack of segregation of duties, meaning the people receiving money were often the same people who account- ed for it. Auman said organizations can always work on this but small districts usually can't eliminate the problem com- pletely. He also commented that this district was a much less severe case than in others he's seen. The auditor explained that the next finding, a significant deficiency by category, was similarly a small district is- sue. He said that the finding suggested that a district pre- pare its own financial state- ments instead of having the firm do it. Auman explained that he had to tell the district this, al- though it might not really be cost effective in their ease. In the final finding, also a significant deficiency, the au- ditor noted that he couldn't find the district's Medical Re- imbursement Plan. Board member and former CPA Jim Bequette explained that he recently drafted a new plan and updated the em- ployee manual. The board members also addressed the fact that they would no longer be receiving a grant worth more ,than $900,000. The grant was for replacing a well that was damaged in the past. The district was recently informed that it would be re- ceiving a larger sum of mon- ey from a related class action lawsuit, meaning it couldn't receive the grant as well. QCSD had only received about $6,000 so far and will be returning that amount. NEW HOMES GARAGES CARPORTS REMODELS BASIC IMPROVEMENTS SMALL JOBS CONSTRUCTION SINCE 1984 General Building Contractor Calif. Lie. #453927 283-2035 mail@plumasnews.com]