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IOTA’s future looks bright

first_imgIOTA’s future looks bright October 15, 2005 Managing Editor Regular News IOTA’s future looks brightcenter_img Higher interest rates mean more revenue for legal aid Mark D. Killian Managing Editor It’s a new day for The Florida Bar Foundation.After years of struggling with declining revenues that forced cuts in legal aid funding and the depletion of the Foundation’s reserve accounts, increased revenue from a steady rise in IOTA account balances and climbing IOTA interest rates are bolstering the charitable organization’s financial health.The Foundation expects to have more than $27 million available for its grant programs in 2005-2006, up from slightly more than $11 million a year ago.“Happy circumstances of increased revenue provide for increased opportunities,” President Bill Davis said at the Foundation’s recent Tallahassee meeting.On the recommendation of its Grant Program Committee, the Foundation board voted to increase its allocation for legal assistance to the poor and law student assistance grant programs from $10.5 million last year to more than $16.1 million this year. The board also doubled funding for its administration of justice grants program to $1 million.The Foundation also earmarked $10.3 million to begin re-establishing its grant program reserve. Davis said the specific goal of rebuilding the Foundation’s reserves is to maintain allocations for its grantees for up to four years if or when IOTA revenues go into another down cycle. That’s the way the annual grant allocations to legal assistance providers were kept relatively stable — along with allocating more of the Foundation’s income to legal assistance to the poor programs and less to the administration of justice and law student assistance projects — when IOTA bank interest rates dropped in the mid- to late-1990s. Then the Foundation had to deal with IOTA income that tumbled from about $19 million a year to between $10-$11 million per year.The increase in legal aid funds in 2005-06 still comes up short of the funding levels of the late 1990s, when inflation and the increase in Florida’s poverty population is taken into account.“Thank goodness we had a staff and previous boards that saw fit to create a reserve which carried [the Foundation’s] grantees without so much pain during the last downturn,” Davis said, noting the goal is to fund the reserves at about $24 million by September 2006.Board member Kathleen McLeroy of Tampa said she supports re-establishing the reserve fund because the Foundation owes an obligation to the clients of its grantees to make sure the legal aid infrastructure is in place in Florida.“I think we should be the overseer of legal aid programs throughout the state and we owe the clients, not the grantees, but the clients, a stable system,” McLeroy said.James Bell, president of Florida Legal Services, Inc., agreed, saying a reserve fund assures legal aid providers that they can continue their programs “if something drastic happens.”“I think we would be remiss to not have some type of situation where we have a reserve to keep these programs going,” Bell said.“It is nice to know that if the worst case scenario happens, we can sort of taper off our grantees, not just cut them off,” said board member Miles McGrane of Miami.last_img read more


The Latest: Sevilla says a player tested positive for virus

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Spanish soccer club Sevilla says one of its players has tested positive for the coronavirus. July 29, 2020 ___Three riders competing at the Vuelta a Burgos cycling race in Spain have been dropped from the event after being in contact with someone with the coronavirus.UAE Team Emirates says Colombian riders Sebastian Molano, Cristian Munoz and Camilo Ardila will not start the second stage.The team says they were in contact with a person who turned out to be positive for COVID-19 on Saturday. They have been isolated and sent home in accordance with protocols by the team and international cycling body UCI.The team says the three riders returned two negative tests three days before the race. The club has not disclosed the name of the player. It says he has not shown symptoms of COVID-19 and is in good health and isolated at home.Sevilla says the positive result was discovered on Monday. It immediately informed sports and health authorities and temporarily suspended the team’s training sessions. It also disinfected the club’s facilities in accordance with the strict protocols in place because of the pandemic.Sevilla is scheduled to face Roma on Aug. 6 in the Europa League.___FIFA has ratified a coronavirus relief plan that will make $1.5 billion available to soccer communities and national associations around the world. The Latest: Sevilla says a player tested positive for virus Associated Press All of the 211 FIFA member associations will receive a $1 million grant “to protect and restart football” and can access interest-free loans of up to $5 million.Each member association will also receive an additional $500,000 grant for women’s soccer during the plan’s third phase.The massive spending plan aims to help men’s and women’s professional soccer as well as youth and grassroots soccer through a system of grants and loans.Each of the six soccer confederations will also receive a grant of $2 million.FIFA expects to make the funds available by January 2021. ___The first two stops on the 2021 World Sevens Series rugby circuit have been canceled because of the coronavirus pandemic.World Rugby says the joint events in Dubai from Nov. 26-28 and in Cape Town from Dec. 4-6 have been cut because of the “ongoing and dynamic global nature of the COVID-19 pandemic.”The 2020 series was curtailed and New Zealand declared champions of the men’s and women’s titles after sports around the world were shuttered in March.Planning for the remaining qualifiers for the postponed Tokyo Olympics is ongoing. Twenty-one of the 24 places in the Olympic tournaments have been confirmed. A dozen teams are set to play in each of the men’s and women’s tournaments in the first half of next year for the remaining spots in Tokyo.The last five stops in the 2020 series were canceled in June.___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sportslast_img read more


Breaking: Gardai do not believe man found in Carndonagh house died in suspicious circumstances

first_imgGardai do not now believe that a man who was found dead at a house in Carndonagh passed away in suspicious circumstances.The body of the man was found at a house around 8pm on Thursday evening.Emergency Services rushed to the scene and provided treatment to a 37-year-old man. The man was pronounced dead a short time later and his body was removed to Letterkenny Hospital.State pathologist Dr Marie Cassidy carried out an autopsy on the body at Letterkenny University Hospital today.A preliminary report has been provided to Gardaí details of which cannot be released for operational reasons.Investigating Gardaí have however confirmed they are not treating the death as suspicious and a file will be prepared for the Coroner. Breaking: Gardai do not believe man found in Carndonagh house died in suspicious circumstances was last modified: November 14th, 2017 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more