Marion County School Superintendent receives report card from board of education
FAIRMONT — Marion County School Superintendent Donna Heston continues to hold the Marion County Board of Education's confidence in her annual performance review.
'She has my confidence,' Board President George Boyles said. 'There's others on the board that really appreciate — she gets into an issue, she always gets me an answer when I ask her a question. A lot of it is just things sometimes off of her head that she knows, that this is what I'm asking about. She's well informed and that's really good to have a person like that.'
The Board of Education evaluated Heston at a special meeting and executive session on Thursday. The board rated Heston on whether she 'meets or exceeds' all five expectations laid out on the official performance rubric.
The five goals the board considers are community engagement, family and student engagement, district operations and planning, learning environment, increasing the number of students proficient in English and mathematics and fostering career and technical education.
Heston had one concrete goal on the rubric — decrease the number of professional and service personnel over the state aid formula by June 2025.
Heston said budgeting and personnel season is right around the corner. Marion County Schools had been third on a list of school districts that are over budget on what the state funding formula pays for. Thanks to Heston's work over the past two years, the school system has dropped to 16th place.
'We're really looking at our student enrollment and addressing those things proactively based upon those numbers,' Heston said. 'The seven percent decrease in what we were over the formula amounts to 6.5 positions that we need to address. As we've done in previous years, it had always our goal — that if somebody wants a job for Marion County Schools, there is one available for them.'
Heston added the school system has been able to keep employees while shedding positions through realignment and redistribution. Heston also said student enrollment has declined again this year, in line with enrollment decreases at other counties in the state. Heston said her administration is working with those decreases in mind so that they can realign and redistribute with the goal of keeping the school workforce strong.
Aside from driving student achievement as a priority, Heston's other goals for the coming year include strengthening school security. She said the School Building Authority granted funds, which after combining them with local funds, will help fortify nine school entrances. The district has applied for a tenth safe school entrance at East Fairmont Middle School. Heston is also looking at facility improvements, such as roof replacements, HVAC and boiler improvements and others prioritized by the district's comprehensive educational facilities plan.
Boyles said they set the superintendent's objectives in September.
'Where she hasn't exceeded them she's got the structure in place and it's just a matter of time to get some of those things further in place,' Boyles said. 'More concretely, she's well on the way to having everything exceeds expectations. So that's why we said she either meets or exceeds.'
Boyles echoed Heston's goals for the coming year, and wants to see progress made on roofing and school security. He added the district obtained a grant for such projects through former U.S. Sen. Joe Manchin's office that has to be spent by the end of December.
Boyles is also keeping an eye on what the state legislature is doing this year, with regard to K-12 education.
Boyles was glad to hear Gov. Patrick Morrisey and the state legislature is finally evaluating the outdated school funding formula. He also brought up the Hope Scholarship, which removes money from the public school system and allows parents to spend it with private education providers. Students need to be part of the school system for a set number of days before withdrawing to access the money. If a student returns from private instruction, the money doesn't return with them, however. Boyles wants to see that be part of the discussion in Charleston.
'They've got some opportunities to make some nice adjustments,' he said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Japan Smaller Capitalization Fund, Inc. Announces Initiatives to Enhance Shareholder Value
10% Annual Rate Level Distribution Policy Conditional Tender Offer for 10% of Outstanding Shares NEW YORK, June 06, 2025 (GLOBE NEWSWIRE) -- Japan Smaller Capitalization Fund, Inc. (the 'Fund') (NYSE: JOF) today announced that its Board of Directors (the 'Board') has approved two initiatives aimed at addressing the Fund's trading discount. These initiatives include a level distribution plan and a conditional tender offer. The Board believes these actions reflect the Fund's ongoing commitment to enhancing shareholder value, delivering competitive performance, and providing consistent distributions to long-term shareholders. The plan (the 'Plan') includes (i) implementation of a Level Distribution Plan (the 'LDP') to pay monthly distributions at a 10% annual rate to provide more of the Fund's total return in the form of distributions, and (ii) a conditional tender offer (the 'CTO') of 10% of its outstanding shares. Level Distribution Plan The Board has approved a Level Distribution Plan under which the Fund will pay monthly distributions at an annualized rate of 10% of the Fund's Net Asset Value ('NAV') as of May 31, 2025. The Fund is declaring a monthly distribution of $0.0887 per common share for each of July, August and September. The Fund's distribution details are as follows: Record Date Ex-Dividend Date Payment Date Distribution Amount July 15, 2025 July 15, 2025 July 31, 2025 $ 0.0887 August 15, 2025 August 15, 2025 August 29, 2025 $ 0.0887 September 15, 2025 September 15, 2025 September 30, 2025 $ 0.0887 The LDP is intended to provide shareholders with a constant, though not guaranteed, fixed rate of distribution each month. In approving the LDP, the Board considered, among other factors, the potential impact of the LDP as a tool to narrow the discount to NAV at which the Fund's shares have historically traded, the Fund's ability to sustain the LDP, and the possibility that making regular distributions could enhance liquidity for common shareholders and potentially attract new investors. Distributions will be made primarily in cash but under the Fund's dividend-reinvestment plan, distributions will be made in Fund shares unless a shareholder has elected to receive cash. Shares held with a broker-dealer will receive distributions in cash. Under the LDP, distributions may be derived from any combination of: (i) net investment income, (ii) realized capital gains, and/or (iii) a return of shareholder capital. The actual composition for each fiscal year will be reported to shareholders on Form 1099-DIV after year-end. Estimates provided in any monthly notice or in this press release are not intended for tax-reporting purposes and should not be relied upon as such. The Fund cannot predict what effect, if any, the LDP will have on the market price of its shares, or whether such market price will trade at a narrower or wider discount to NAV compared to levels prior to the Plan's adoption. Conditional Tender Offer In addition to the LDP, the Board approved a Conditional Tender Offer. The Fund will launch a tender offer for 10% of its outstanding shares, provided that the Fund's shares trade at an average daily market price discount of 9% or greater to NAV during the nine-month measurement period beginning on July 1, 2025 and ending on March 31, 2026 (the 'Measurement Period'). At the end of the Measurement Period, the Fund will announce additional details about the tender offer, as appropriate. In approving the CTO, the Board considered, among other factors, that a rules-based approach gives shareholders clear, time-bounded relief if the discount persists, the complementary nature of the CTO with the LDP, the reinforcement of the Fund's commitment to shareholder-friendly capital management, and the offer of meaningful liquidity to shareholders. There can be no guarantee that these benefits will occur or that any improvement will continue. The Board may terminate or modify the parameters of the Plan at any time without prior notice to the Fund's shareholders if circumstances warrant. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. To assist the Board in its evaluation of the LDP, the CTO, and other potential corporate actions, the Fund engaged an unaffiliated financial adviser with significant closed-end fund expertise. The professional fees associated with this limited-duration engagement will be borne by the Fund and are expected to result in a short-term increase in the Fund's expense ratio. Investment Outlook While overall earnings growth is expected to be higher in the United States, the Japanese market is expected to have growth rates comparable to the United States in most sectors besides the Industrials sector. Nomura Asset Management Co., Ltd. ('NAM') believes Return on Equity ('ROE') is on an upward trend in Japan, supported by improvements in profit margins and revenue growth. NAM expects share buybacks and dividend increases will continue to raise the financial leverage. With ongoing corporate reforms, there is a potential for ROE to rise further. Japan remains one of the most attractive markets for individual stock selection due to a lack of coverage. Continued Focus on Long-Term Value Today's announcement represents the Fund's objective to deliver competitive performance and stable distributions to shareholders. The Board and Nomura Asset Management U.S.A. Inc. ('NAM-U.S.A.') remain committed to delivering long-term value creation and addressing the interests of our shareholders. About the Fund The Fund invests primarily in the securities of smaller capitalization companies in Japan and is designed for investors seeking long-term capital appreciation. The Manager of the Fund is NAM-U.S.A., which is based in New York. NAM-U.S.A. is a subsidiary of NAM, which is one of the largest investment advisory companies in Japan in terms of assets under management and serves as the investment adviser to the Fund. Forward Looking Statements Certain information discussed in this press release may constitute forward-looking statements within the meaning of U.S. federal securities laws. Although the Fund and NAM-U.S.A. believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Fund and NAM-U.S.A. can give no assurance that their expectations will be achieved. Forward-looking information is subject to certain risks, trends, and uncertainties that could cause actual results to differ materially from those projected. Contact: Maria Premole 1-800-833-0018 JOFInvestorRelations@ in to access your portfolio
Yahoo
an hour ago
- Yahoo
Netflix Shareholders Vote Out Board Member, Venture Capital Investor Jay Hoag In Rare Repudiation, Streamer Considering Whether To Accept His Resignation
In a year marked by some high-profile instances of shareholder activism, Netflix stockholders have voted director Jay Hoag, a venture capital investor, off the board. The vote follows a recommendation by leading proxy advisory firm Institutional Shareholder Services. ISS, which issues deep-dive analyses of issues up for vote at the annual meetings of many public companies, including the election of directors, had recommended a vote against Hoag for poor attendance – or failing to show up for at least 75% of his total board and committee meetings in 2024 without disclosing the reason for the absences. More from Deadline Runway's AI Film Festival, On Hallowed Ground At New York's Lincoln Center, Honors 'Total Pixel Space' 'The Bold And The Beautiful' Leaving Television City After 38 Years, Will Continue To Film In Los Angeles Gavin Newsom Suggests That "Maybe It's Time" To Cut Off California's Share Of Federal Taxes Amid Report That Trump Seeks To Cancel State Grants He received just 21.6% support among votes cast, a rare instance of shareholders rejected a board candidate. Earlier this week, Warner Bros. Discovery shareholders voted in large numbers against the company's compensation of its top executive officers led by CEO David Zaslav. His $51.9 million package did not pass a so-called say-on-pay vote, which is non binding but a definite red flag. 'Jay Hoag failed to attend at least 75 percent of the total meetings of the board and committee on which he served during the fiscal year under review. Specifically, Hoag only attended 50 percent of such meetings. The board did not disclose the reason for his absences. Directors who do not attend their board and committee meetings cannot be effective representatives of shareholders. When a director fails to attend at least 75 percent of the aggregate of his or her board and committee meetings, adverse vote recommendations will be issued with respect to that director in the absence of a valid reason. Accordingly, support for Jay Hoag is not considered warranted due to poor attendance,' ISS wrote in its report last month ahead of the June 5 shareholder meeting. Netflix noted today in an SEC filing that Hoag 'did not receive a majority of votes cast in his election to the board of directors. In accordance with the Company's director resignation policy, on June 5, 2025, Mr. Hoag offered his resignation from the Board, conditioned upon Board acceptance. In accordance with the Resignation Policy, the Nominating and Governance Committee of the Board will consider Mr. Hoag's resignation and recommend to the Board regarding whether to accept or reject the resignation or take other action. The Board will act on the Committee's recommendation and publicly disclose its decision and rationale within 90 days from the date the election results are certified.' The results of the shareholder vote set out in the filing showed 71.4 million votes for and almost 260 million votes against the director, who also sits on the boards of Peloton, Zillow and TripAdvisor. At Netflix, he served as the lead independent director serving on the nominating committee and governance committee, where he was the chair. He's been a Netflix board member since 1999. 'As a venture capital investor, Mr. Hoag brings strategic insights and financial experience to the Board. He has evaluated, invested in and served as a board member for numerous companies, both public and private, and is familiar with a full range of corporate and board functions. His many years of experience in helping companies shape and implement strategy provide the Board with unique perspectives on matters such as risk management, corporate governance, talent selection and management,' read the Netflix proxy, an annual filing where companies lists all the directors up for reelection. Hoag has also been a technology investor and venture capitalist for more than 40 years, the giant streamer noted, ' involved in numerous technology investments, including Actuate Software (acquired by OpenText), Airbnb, Ariba (acquired by SAP), Altiris (acquired by Symantec), BlueCoat Systems (formerly CacheFlow), C|NET, eHarmony, Electronic Arts, Encompass (acquired by Yahoo!), EXE Technologies (acquired by SSA Global), Expedia, Facebook, Fandango (acquired by Comcast), Groupon, LinkedIn, ONYX Software, Peloton, Prodege (parent company of Swagbucks & acquired by a private equity firm), RealNetworks, Sportradar, Spotify, SpringStreet (acquired by Strava, TechTarget, TripAdvisor, (acquired by Expedia), Viant (acquired by iXL), and Zillow.' Best of Deadline 2025 TV Series Renewals: Photo Gallery 2025 TV Cancellations: Photo Gallery 'Stick' Soundtrack: All The Songs You'll Hear In The Apple TV+ Golf Series Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Japan Smaller Capitalization Fund, Inc. Announces Initiatives to Enhance Shareholder Value
10% Annual Rate Level Distribution Policy Conditional Tender Offer for 10% of Outstanding Shares NEW YORK, June 06, 2025 (GLOBE NEWSWIRE) -- Japan Smaller Capitalization Fund, Inc. (the 'Fund') (NYSE: JOF) today announced that its Board of Directors (the 'Board') has approved two initiatives aimed at addressing the Fund's trading discount. These initiatives include a level distribution plan and a conditional tender offer. The Board believes these actions reflect the Fund's ongoing commitment to enhancing shareholder value, delivering competitive performance, and providing consistent distributions to long-term shareholders. The plan (the 'Plan') includes (i) implementation of a Level Distribution Plan (the 'LDP') to pay monthly distributions at a 10% annual rate to provide more of the Fund's total return in the form of distributions, and (ii) a conditional tender offer (the 'CTO') of 10% of its outstanding shares. Level Distribution Plan The Board has approved a Level Distribution Plan under which the Fund will pay monthly distributions at an annualized rate of 10% of the Fund's Net Asset Value ('NAV') as of May 31, 2025. The Fund is declaring a monthly distribution of $0.0887 per common share for each of July, August and September. The Fund's distribution details are as follows: Record Date Ex-Dividend Date Payment Date Distribution Amount July 15, 2025 July 15, 2025 July 31, 2025 $ 0.0887 August 15, 2025 August 15, 2025 August 29, 2025 $ 0.0887 September 15, 2025 September 15, 2025 September 30, 2025 $ 0.0887 The LDP is intended to provide shareholders with a constant, though not guaranteed, fixed rate of distribution each month. In approving the LDP, the Board considered, among other factors, the potential impact of the LDP as a tool to narrow the discount to NAV at which the Fund's shares have historically traded, the Fund's ability to sustain the LDP, and the possibility that making regular distributions could enhance liquidity for common shareholders and potentially attract new investors. Distributions will be made primarily in cash but under the Fund's dividend-reinvestment plan, distributions will be made in Fund shares unless a shareholder has elected to receive cash. Shares held with a broker-dealer will receive distributions in cash. Under the LDP, distributions may be derived from any combination of: (i) net investment income, (ii) realized capital gains, and/or (iii) a return of shareholder capital. The actual composition for each fiscal year will be reported to shareholders on Form 1099-DIV after year-end. Estimates provided in any monthly notice or in this press release are not intended for tax-reporting purposes and should not be relied upon as such. The Fund cannot predict what effect, if any, the LDP will have on the market price of its shares, or whether such market price will trade at a narrower or wider discount to NAV compared to levels prior to the Plan's adoption. Conditional Tender Offer In addition to the LDP, the Board approved a Conditional Tender Offer. The Fund will launch a tender offer for 10% of its outstanding shares, provided that the Fund's shares trade at an average daily market price discount of 9% or greater to NAV during the nine-month measurement period beginning on July 1, 2025 and ending on March 31, 2026 (the 'Measurement Period'). At the end of the Measurement Period, the Fund will announce additional details about the tender offer, as appropriate. In approving the CTO, the Board considered, among other factors, that a rules-based approach gives shareholders clear, time-bounded relief if the discount persists, the complementary nature of the CTO with the LDP, the reinforcement of the Fund's commitment to shareholder-friendly capital management, and the offer of meaningful liquidity to shareholders. There can be no guarantee that these benefits will occur or that any improvement will continue. The Board may terminate or modify the parameters of the Plan at any time without prior notice to the Fund's shareholders if circumstances warrant. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. To assist the Board in its evaluation of the LDP, the CTO, and other potential corporate actions, the Fund engaged an unaffiliated financial adviser with significant closed-end fund expertise. The professional fees associated with this limited-duration engagement will be borne by the Fund and are expected to result in a short-term increase in the Fund's expense ratio. Investment Outlook While overall earnings growth is expected to be higher in the United States, the Japanese market is expected to have growth rates comparable to the United States in most sectors besides the Industrials sector. Nomura Asset Management Co., Ltd. ('NAM') believes Return on Equity ('ROE') is on an upward trend in Japan, supported by improvements in profit margins and revenue growth. NAM expects share buybacks and dividend increases will continue to raise the financial leverage. With ongoing corporate reforms, there is a potential for ROE to rise further. Japan remains one of the most attractive markets for individual stock selection due to a lack of coverage. Continued Focus on Long-Term Value Today's announcement represents the Fund's objective to deliver competitive performance and stable distributions to shareholders. The Board and Nomura Asset Management U.S.A. Inc. ('NAM-U.S.A.') remain committed to delivering long-term value creation and addressing the interests of our shareholders. About the Fund The Fund invests primarily in the securities of smaller capitalization companies in Japan and is designed for investors seeking long-term capital appreciation. The Manager of the Fund is NAM-U.S.A., which is based in New York. NAM-U.S.A. is a subsidiary of NAM, which is one of the largest investment advisory companies in Japan in terms of assets under management and serves as the investment adviser to the Fund. Forward Looking Statements Certain information discussed in this press release may constitute forward-looking statements within the meaning of U.S. federal securities laws. Although the Fund and NAM-U.S.A. believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Fund and NAM-U.S.A. can give no assurance that their expectations will be achieved. Forward-looking information is subject to certain risks, trends, and uncertainties that could cause actual results to differ materially from those projected. Contact: Maria Premole 1-800-833-0018 JOFInvestorRelations@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
