Robert “Bob” Kiss, served in the West Virginia House of Delegates from 1988 until 2006 and he held the position of Speaker of the House from 1997 until 2006. Word of his passing at age spread Friday night. He was 63.
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CHARLESTON S&P Global Ratings has rated West Virginia’s money market and government money market pools at its highest rating, State Treasurer Riley Moore said.
The money market pools contain about $5.3 billion in short-term operating funds from state and local government agencies. The pools provide agencies a way to invest operating funds in interest-bearing accounts while preserving the liquidity needed for day-to-day operations.
“This news reaffirms our short-term cash pools are highly stable and protected from risk,” Moore said. “Our Board of Treasury Investments staff does a great job overseeing our state and local government operating funds and protecting them from inflation. This ratings news demonstrates our state’s taxpayer funds continue to be well-managed.”
Feb 16, 2021
CHARLESTON State Treasurer Riley Moore said his office is proposing legislative measures that would increase oversight, transparency and accountability over taxpayer funds used by the state Economic Development Authority.
The announcement follows the release of a legislative audit which found the development authority took a $24 million loss on a taxpayer-funded venture capital program created in 2002 and failed to maintain adequate accounting documentation.
“As your new treasurer, I am not going to sit idly by while unelected bureaucrats squander taxpayer money with impunity,” Moore said. “As the state’s chief financial officer, I have a fiduciary duty to ensure taxpayer funds are spent wisely with absolute transparency and accountability and I will do everything within my power to make sure this never happens again.”
The offices of the West Virginia Economic Development Authority in Charleston. (File Photo)
CHARLESTON The West Virginia Economic Development Authority voted Tuesday to award the first loan insurance requests for four state internet providers who received winning bids in last Fall’s rural broadband auction, while a lawmaker continues to ask about one company’s ability to deliver.
The EDA approved loan insurance requests for Bridgeport-based Citynet for a loan up to $16 million from MVB Bank; Preston County-based Digital Connections/PRODIGI for a loan up to $2.6 million from Clear Mountain Bank; Bluefield, Va.-based GigaBeam for a loan up to $8.4 million from Citizens Bank of West Virginia; and a transfer of a loan up to $3 million for Buckhannon-based Micrologic from Citizens Bank of Weston to Citizens Bank of West Virginia.
Last week I wrote about a $25 million loan program managed by the West Virginia Economic Development Authority that lost more than $24 million over the last 19