November 30, 2009
FIVE THINGS TO TELL YOUR ACCOUNTANT
– Here are five things every business owner should share with his or her
accountant before tax season rolls around. First, report any significant
changes in income expected for the year. Second, notify him of any
life-changing events – professional and private – that can alter the way
you do business. Also, reveal any business transactions not routine for
the nature of your business. Talk about retirement planning. And, let
your accountant know what your plans are for the coming year. Trying to
control accounting expenses is a valid concern for business owners, but
sharing this kind of information with your accountant could be equally
important.
SPARTON TURNS A PROFIT – Sparton
Electronics recently announced it earned $1.4 million in the first
quarter of its fiscal year, which ended Sept. 30, putting a halt on
three years of losses. The company also reported it generated $5.1
million in cash flow from operations, paid down revolving credit
facility and term-debt (totaling $18.9 million with existing cash), and
had a cash balance of $20.7 million. Sparton’s Defense and Security
Systems segments experienced 63-percent increases in sales in the first
quarter of the fiscal year, too. And, the company reported it’s on
target with its employment goals at the DeLeon Springs facility. Volusia
County Government, with the partnership of Enterprise Florida and
Hernando County, successfully retained Sparton in Florida after the
Michigan offered significant financial incentives for the company to
relocate all of its operations there. Sparton employs approximately 280
in DeLeon Springs and anticipates expanding its workforce to
approximately 312.
R&D FUNDING ON THE INCREASE – Funding for innovation – critical
in preparing for the economic upturn – was increased in 2008 by the top
1,000 public corporate research and development spenders. A survey by
global management consulting firm Booz & Company has shown research and
development (R&D) expenditures rose 5.7 percent to $532 billion in 2008.
It seems leading companies recognize the importance of focusing on R&D
to put them in a position to take advantage of competitors in the
anticipated economic upturn.
UNITED CEREBRAL PALSY OPEN HOUSE – United Cerebral Palsy of
Central Florida is welcoming the public to an open house from 5 - 8 p.m.
Friday, Dec. 4, at its facility at 1100 Jimmy Ann Drive, Daytona Beach.
Food and refreshments will be served courtesy of the Daytona Ale House
and poinsettias and holiday ornaments will be available for sale. For
more information, go to www.ucpecf.org.
ENERGY STAR APPLIANCE REBATE PROGRAM – Pending final approval
from the U.S. Department of Energy, there will be six residential
appliances that qualify for Florida’s 20-percent ENERGY STAR appliance
rebate program – refrigerators, freezers, washing machines, dishwashers,
room air conditioners, and gas tankless water heaters. The rebate, which
is anticipated to last for only 10 days in April 2010 (April 16 - 25),
will be 20 percent of the purchase price before taxes. The program will
pay you an additional $75 on top of your rebate if you recycle the
appliance properly. For details see
http://tinyurl.com/ylsgs2s.
CHANGING OUR HABITS – The impact of technology on our everyday
lives has been well reported and new data released by the U.S. Census
Bureau supports it further. The number of households with cell phones
increased from 36 percent to 71 percent between 1998 and 2005. During
this same period of time, landline phone ownership fell from 96 percent
to 91 percent.
VMA PLANT TOUR – The Volusia Manufacturers Association is
planning a tour of Stewart-Marchman-Act Behavioral Healthcare at 9 a.m.
Friday, Dec. 11, at 200 Fentress Blvd., Suite C, Daytona Beach.
Participants will have the opportunity to learn how to become ISO
compliant. To register go to
www.vmaonline.com/events.asp.
NEWS ITEMS WANTED! – Please send your business news items to Dave
Byron, Volusia County Community Information Director, 123 W. Indiana
Ave., DeLand, 32720-4612, by fax at (386) 822-5072 or by e-mail at
dbyron@co.volusia.fl.us.
