Credit Card and Loan Balances Grew in August
News from Opposing Views:

In the past year or more, consumer borrowing has been on the rise despite Americans’ efforts to curb their credit card use. However, even those accounts carried more debt at the end of August.

Consumer credit – that is, the total amount of debt owed to lenders on both credit cards and installment loans not including mortgages – rose 8 percent in August after declining 1.1 percent on an annual basis in July, according to the latest monthly statistical release from the Federal Reserve Board. Now, consumers owe nearly $ 2.73 trillion on all these accounts, up from July’s slightly less than $ 2.71 trillion.

The majority of this increase came in the form of borrowers taking on far more de…………… continues on Opposing Views

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Nashua School District credit card policy strikes right balance
News from Nashua Telegraph:

One of the daily challenges for municipal boards and committees is finding the right balance between setting policy and micromanaging those entrusted to carry it out.

We believe the Board of Education’s Finance and Operations Committee met that challenge last week when it agreed to recommend to the full board a policy governing the use of credit cards in the Nashua School District – a recommendation the board was expected to take up Tuesday night.

By and large, the proposed policy reaffirms administrative guidelines that have been in place since 2006, when the district tightened its practices in response to an investigation into the use of public funds for personal travel by then-Superintendent Julia Earl.

Under those guidelines, credit cards may be used by the superintendent, chief operating officer or other authorized individuals to purchase equipment and supplies, as well as to cover expenses related to district-approved travel. The users of the cards then must submit receipts and other documentation to the chief operating officer, who is responsible for overseeing the proper use of the district’s credit cards.

How much money are we talking about? A tiny fraction of the district’s $ 94.5 million budget…………… continues on Nashua Telegraph

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