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Funding

NEWS
February 20, 2014 | By Angela Couloumbis, Inquirer Harrisburg Bureau
HARRISBURG - There may be more money for public schools in Gov. Corbett's proposed budget, but Democratic legislators on Tuesday questioned whether the administration is paying for it by shortchanging equally important programs. At a hearing before the House Appropriations Committee, Education Secretary Carolyn Dumaresq detailed how Corbett's spending plan for the fiscal year that begins July 1 contains the biggest public education increase of his tenure in office. But she also acknowledged that the new money depends on savings from yet-to-be-approved initiatives, including one to rein in the cost of public-employee pensions by postponing payments into the system.
NEWS
February 20, 2014 | By Jonathan Lai, Inquirer Staff Writer
GLASSBORO Rowan University has received a $3.05 million grant from the Robert Wood Johnson Foundation to pay for an 18-month health-care delivery effort, the school announced Tuesday morning. The money will support a loose-knit collection of projects aimed at developing "new and enhanced methods and approaches to health-care delivery," Kenneth Blank, Rowan's senior vice president for health sciences, said at a news conference. Rowan will "convene panels of experts," Blank said, who will work with consultant teams to improve current programs, such as its Institute for Successful Aging.
NEWS
February 20, 2014 | By Barbara Boyer, Inquirer Staff Writer
MOUNT HOLLY Temeshia McDonald of Mount Holly lived well, with a high-end wardrobe, a 2012 Cadillac, and cosmetic surgery, according to court records. Among the 29-year-old's indulgences were sprees at Victoria's Secret, where she reportedly spent $355,545, federal authorities said, including $63,000 in merchandise and gift cards in just two months in 2012. On Tuesday, McDonald appeared in U.S. District Court in Newark, N.J., where she was sentenced to three years in prison and ordered to pay $557,690 in restitution after pleading guilty to fraud.
NEWS
February 18, 2014 | By Kristen A. Graham, Inquirer Staff Writer
Despite enormous, ongoing fiscal challenges in the Philadelphia School District, Superintendent William R. Hite Jr. is thinking big. How big? Every 8-year-old in the city reading at grade level. Every student graduating ready for college and careers. Every school with a great principal and teachers. Full funding for great schools. Centering on those four goals, Hite's 42-page blueprint for the future of the district, to be issued Monday, is full of "bold expectations," the superintendent said.
BUSINESS
February 17, 2014 | By Diane Mastrull, Inquirer Staff Writer
Seven years ago, Patricia Blakely was hired to make "most purposeful in the 21st century" a Philadelphia charitable agency whose minutes include a notation from 1865 denouncing "the horrid murder of one so greatly and justly beloved by all true and loyal hearts. " It was a reference to the assassination of President Abraham Lincoln. The organization was the Merchants Fund. Established in 1854, its mission did not waver for more than 150 years: to provide help to Philadelphia's indigent merchants, either those actively working who met with hard times or those who retired and couldn't make ends meet.
BUSINESS
February 14, 2014 | By Erin E. Arvedlund, Inquirer Columnist
What is the main difference between a mutual fund and a hedge fund? These days, the goodies inside the portfolios are strikingly similar. The only difference might be the wrapping paper. For instance, which is riskier? A hedge fund holding hundreds of diversified stocks, or a mutual fund such as the popular Fairholme Fund (symbol: FAIRX), which has about 40 percent in one stock - the recovering insurer AIG? An investor's aptitude for risk should be the result of analysis. To navigate the increasingly blurred lines between mutual funds and hedge funds, we checked in with Brian Portnoy, whom I first interviewed a decade ago when he was a mutual fund analyst for the Morningstar Inc. database.
NEWS
February 13, 2014 | By Jacqueline L. Urgo, Inquirer Staff Writer
TRENTON - Housing advocates hammered away at the Christie Administration for its handling of the distribution of resettlement and home rebuilding funding for Superstorm Sandy victims during a hearing Tuesday of the Senate Legislative Oversight Committee. The hearing was the latest in a series of legislative inquiries about how funding is, or isn't, making its way to storm victims. Since last summer, residents of shore communities and their advocates have been testifying about how difficult it is to collect on homeowners insurance policies and obtain federal aid. Thousands of applications for disaster aid have been rejected - but without explanation to homeowners as to why. Meanwhile, some state officials including Gov. Christie have touted the funding distribution as a successful effort that's returned thousands of people displaced by the storm to their homes.
NEWS
February 13, 2014 | By Andrew Seidman, Inquirer Trenton Bureau
TRENTON A New Jersey elections panel voted Tuesday that Gov. Christie's reelection campaign can use money remaining in its account and raise more funds to comply with subpoenas issued by legislators and federal prosecutors. The subpoenas stem from investigations into September lane closures at the George Washington Bridge, which caused massive traffic jams and were allegedly carried out by Christie allies to exact political revenge against the mayor of Fort Lee. "I think it's critical, considering what the state is faced with at this point, that all the information regarding what occurred in September get to the authorities as quickly as possible and get to the public as quickly as possible, so that everybody can finally get the answers we're looking for," Ronald DeFilippis, chairman of the Election Law Enforcement Commission (ELEC)
NEWS
February 12, 2014 | by Sandy Bauers, Inquirer Staff Writer
In the high-stakes conflict over U.S. climate-change policy, groups that deny or cast doubt on global warming brought in $7.2 billion from 2003 through 2010 - less than a third of it publicly traceable to the donors. In a recently released study of 91 such organizations, a Drexel University professor found that $5.2 billion of their funding was "dark money" from undisclosed sources. Also of unknown origin: $78 million channeled by major benefactors through a special nonprofit that then redirected the money while keeping the givers' identities private.
NEWS
February 6, 2014 | BY SOLOMON LEACH, Daily News Staff Writer leachs@phillynews.com, 215-854-5903
BY AN overwhelming majority, the state Senate yesterday confirmed Gov. Corbett's two nominees for the School Reform Commission, City Councilman Bill Green and People's Emergency Center CEO Farah Jimenez. Green, who must resign from his Council post, replaces Pedro Ramos as SRC chair after Ramos stepped down last year to deal with family concerns, while Jimenez takes over for Joseph Dworetzky on the five-member board. The two were approved by a 44-2 vote, with Sens. Vincent Hughes and Andrew Dinniman the only nay votes.
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