GALVESTON COUNTY, TEXAS A5TUESDAY, SEPTEMBER 16, 2014 THE DAILY NEWS

LOCAL

NY Handy & Harman 1234.25 up 2.75NY Merc. gold Sept Mon. 1233.60 up 3.70

l stock market indexes

l mutual funds

l daily dow jones

l daily s&p 500

17,161.55 14,719.43 Dow Industrials 17,031.14 +43.63 +.26 +2.74 +9.928,607.65 6,380.92 Dow Transportation 8,521.15 -31.13 -.36 +15.14 +29.16

576.98 472.09 Dow Utilities 551.28 +1.64 +.30 +12.38 +15.4911,334.65 9,441.66 NYSE Composite 10,909.32 -2.08 -.02 +4.89 +12.424,610.14 3,650.03 Nasdaq Composite 4,518.90 -48.70 -1.07 +8.20 +21.55

892.21 733.05 S&P 100 883.41 +.34 +.04 +7.23 +16.602,011.17 1,646.47 S&P 500 1,984.13 -1.41 -.07 +7.35 +16.881,452.01 1,200.41 S&P MidCap 1,415.87 -6.19 -.44 +5.46 +14.60

21,319.71 17,563.18 Wilshire 5000 20,978.92 -62.51 -.30 +6.46 +16.221,213.55 1,032.31 Russell 2000 1,146.52 -14.09 -1.21 -1.47 +8.55

52-Week YTD 12-moHigh Low Name Last Chg %Chg %Chg %Chg

American Funds CapIncBuA m IH 70,715 60.58 0.0 +12.0/A +9.7/B 5.75 250American Funds GrthAmA m LG 73,975 46.01 +1.1 +18.0/C +14.4/D 5.75 250American Funds IncAmerA m MA 72,999 21.76 +0.7 +14.4/A +12.3/A 5.75 250Dodge & Cox IntlStk FB 65,253 46.48 +1.5 +17.5/A +10.3/A NL 2,500Fidelity Contra LG 77,365 101.19 +1.3 +18.7/B +16.0/B NL 2,500PIMCO TotRetIs CI 143,241 10.88 -0.9 +5.2/C +5.3/B NL 1,000,000Vanguard 500Adml LB 113,803 183.84 +1.7 +19.9/B +15.9/A NL 10,000Vanguard InstIdxI LB 98,091 182.65 +1.7 +19.9/B +15.9/A NL 5,000,000Vanguard InstPlus LB 85,003 182.67 +1.7 +20.0/B +15.9/A NL200,000,000Vanguard TotStIAdm LB 103,709 50.03 +1.5 +19.1/C +16.2/A NL 10,000Vanguard TotStIIns LB 85,249 50.04 +1.5 +19.1/C +16.2/A NL 5,000,000Vanguard TotStIdx LB 117,852 50.00 +1.5 +18.9/C +16.0/A NL 3,000

Total Assets Total Return/Rank Pct Min InitName Obj ($Mlns) NAV 4-wk 12-mo 5-year Load Invt

CA -Conservative Allocation, CI -Intermediate-Term Bond, ES -Europe Stock, FB -Foreign Large Blend, FG -Foreign LargeGrowth,FV -Foreign Large Value, IH -World Allocation, LB -Large Blend, LG -Large Growth, LV -Large Value, MA -Moderate Allocation,MB -Mid-Cap Blend, MV - Mid-Cap Value, SH -Specialty-heath, WS -World Stock, Total Return: Chng in NAV with dividends rein-vested. Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum $needed to invest in fund. Source: Morningstar.

l market summary: nyse and nasdaq

Stock Footnotes: g = Dividends and earnings in Canadian dollars. h = Does not meet continued-listing standards. lf = Latefiling with SEC. n = New in past 52 weeks. pf = Preferred. rs = Stock has undergone a reverse stock split of at least 50 per-cent within the past year. rt = Right to buy security at a specified price. s = Stock has split by at least 20 percent within the lastyear. un = Units. vj = In bankruptcy or receivership. wd = When distributed. wi = When issued. wt = Warrants. Mutual Fund Footnotes: b = Fee covering market costs is paid from fund assets. d = Deferred sales charge, or redemptionfee. f = front load (sales charges). m = Multiple fees are charged. NA = not available. p = previous day’s net asset value. s =fund split shares during the week. x = fund paid a distribution during the week. Source: The Associated Press. Sales figures are unofficial.

l money rates l gold, silver & oil

Prime RateDiscount RateFederal Funds RateTreasuries

3-month6-month5-year10-year30-year

3.25 3.250.75 0.75

.00-.25 .00-.25

0.015 0.020.045 0.045

1.79 1.722.59 2.473.34 3.25

Last Pvs Week

Handy & Harman silver Monday 18.570 off 0.030NY Merc silver spot month Monday 18.556 up 0.010

Close/Settle Change

l stocks of local interestYTD

Name Div Yld PE Last Chg %ChgYTD

Name Div Yld PE Last Chg %ChgAT&T Inc 1.84 5.3 10 34.69 +.19 -1.3ActivsBliz .20 .9 23 22.31 -1.08 +25.1AMD ... ... 39 3.91 -.05 +1.0AlcatelLuc .18 ... ... 3.28 -.05 -25.5Alcoa .12 .7 39 16.39 -.33 +54.2Altria 2.08 4.7 20 44.27 +1.11 +15.3ANtIns h 3.08 2.7 13 116.01 +.10 +1.3Apple Inc s 1.88 1.8 16 101.63 -.03 +26.8AvanirPhm ... ... ... 12.49 +5.75 +271.7BP PLC 2.34 5.1 7 45.89 -.05 -5.6BakrHu .68 1.0 22 66.72 +.23 +20.7BkofAm .20 1.2 20 16.74 -.05 +7.5B iPVix rs ... ... ... 29.36 +.74 -31.0BlackBerry ... ... ... 11.02 +.23 +48.1Boeing 2.92 2.3 19 126.31 -.64 -7.5BostonSci ... ... 69 12.39 -.11 +3.1CenterPnt .95 3.9 19 24.27 +.02 +4.7Chevron 4.28 3.4 12 124.24 +1.58 -.5Cisco .76 3.0 17 25.06 -.10 +12.6Citigroup .04 .1 12 52.31 -.07 +.4CocaCola 1.22 2.9 22 41.50 +.04 +.5ColgPalm 1.44 2.2 27 64.51 +.03 -1.1Comcast .90 1.6 20 57.02 -.06 +9.7ConocoPhil 2.92 3.7 13 79.40 +.95 +12.4CSVixSht ... ... ... 2.97 +.15 -60.4CullenFr 2.04 2.5 20 80.21 -.38 +7.8Dillards .24 .2 16 114.11 +.17 +17.4DrxSCBear ... ... ... 15.13 +.48 -10.8DowChm 1.48 2.8 19 53.04 +.37 +19.5DuPont 1.88 2.9 20 65.30 +.52 +.5DukeEngy 3.18 4.3 23 73.44 +.38 +6.4eBay ... ... ... 50.96 -1.23 -7.1EMC Cp .46 1.6 24 29.46 -.19 +17.1EnPro ... ... 63 66.40 -1.90 +15.2Entergy 3.32 4.4 14 75.95 +.47 +20.0ExxonMbl 2.76 2.9 12 96.29 +.51 -4.9Facebook ... ... 80 74.58 -2.90 +36.5FordM .50 3.0 10 16.47 -.12 +6.7GT AdvTc ... ... ... 11.88 -.94 +36.3GenDynam 2.48 2.0 19 126.85 +.45 +32.8GenElec .88 3.4 19 25.92 +.05 -7.5GileadSci ... ... 23 100.99 -2.67 +34.5Goodyear .24 1.0 12 24.27 -.33 +1.8Groupon ... ... ... 6.95 -.21 -40.9Hallibrtn .60 .9 21 66.28 +.42 +30.6HewlettP .64 1.8 14 36.25 -.31 +29.6HomeDp 1.88 2.1 21 89.38 +.54 +8.5HonwllIntl 1.80 1.9 19 94.65 +.15 +3.6Hornbeck ... ... 12 39.05 -.02 -20.7iShBrazil 1.55 3.2 ... 48.37 +.56 +8.3iShJapan .17 1.4 ... 11.80 +.01 -2.8iShChinaLC .71 1.8 ... 40.37 -.58 +5.2iShEMkts .71 1.6 ... 43.57 -.22 +4.2iShR2K 1.48 1.3 ... 114.11 -1.26 -1.1Intel .90 2.6 17 34.54 -.08 +33.1IBM 4.40 2.3 12 191.81 +.53 +2.3

IntPap 1.60 3.2 15 49.80 +.01 +3.0JetBlue ... ... 11 11.26 -.93 +31.9Kroger .66 1.3 17 51.55 -.28 +30.4MarathnO .84 2.1 10 39.83 +.25 +12.8MktVGold .19 .8 ... 23.91 +.03 +13.2MicronT ... ... 10 30.02 -1.51 +38.0Microsoft 1.12 2.4 18 46.24 -.46 +23.6NII Hldg h ... ... ... .08 -.05 -97.0NtWnLf .36 .1 9 249.48 -.02 +11.6NetElem ... ... ... 2.88 -2.82 -34.1NokiaCp .51 6.0 ... 8.56 +.19 +5.5NorthropG 2.80 2.1 14 130.57 +.58 +13.9NustarEn 4.38 6.8 ... 64.05 -1.14 +25.6OnTrack ... ... ... 3.61 -.19 +10.4Oracle .48 1.2 17 40.66 +.16 +6.3Orexigen ... ... ... 4.88 -.28 -13.3PG&E Cp 1.82 3.9 25 46.34 -.04 +15.0Penney ... ... ... 10.85 -.21 +18.6PepsiCo 2.62 2.9 21 91.20 +.33 +10.0PetrbrsA .85 4.9 ... 17.41 +.20 +18.5Petrobras .46 2.8 ... 16.54 +.16 +20.0Pfizer 1.04 3.5 17 29.92 +.49 -2.3PhilipMor 4.00 4.8 16 84.20 +.18 -3.4PwShs QQQ 1.34 1.0 ... 98.52 -.96 +12.0Praxair 2.60 2.0 22 131.55 -.08 +1.2RegionsFn .20 1.9 13 10.28 -.07 +3.9RiteAid ... ... 38 6.42 -.13 +26.9RoyDShllA 3.76 4.8 15 77.69 +.23 +9.0S&P500ETF 3.58 1.8 ... 198.98 -.15 +7.7SeadrillLtd 4.00 13.3 3 30.12 -.75 -26.7SearsHldgs ... ... ... 33.52 -.75 -15.6Sherwin 2.20 1.0 27 215.18 -.37 +17.3SiriusXM ... ... 60 3.59 -.02 +2.7SonyCp .24 1.2 ... 19.87 +.05 +14.9SouthnCo 2.10 4.8 16 43.37 +.01 +5.5Sprint ... ... ... 6.94 -.06 -35.4SP Engy 1.68 1.8 ... 94.22 +.66 +6.5SPDR Fncl .35 1.5 ... 23.38 -.01 +7.0TRWAuto ... ... 14 103.04 -.81 +38.5TeslaMot ... ... ... 253.86 -25.34 +68.8TexInst 1.20 2.5 23 47.59 -.24 +8.4Textron .08 .2 19 36.36 -.10 -1.13M Co 3.42 2.4 20 144.48 +.54 +3.0Tidwtr 1.00 2.2 15 46.23 -.59 -22.0TimeWarn 1.27 1.7 16 76.20 -.61 +13.9TurqHillRs ... ... ... 3.99 +.04 +20.9Twitter n ... ... ... 49.38 -2.73 -22.4Unisys ... ... 32 22.82 -.69 -32.0USSteel .20 .5 ... 39.66 -.26 +34.4Vale SA .84 6.8 ... 12.44 +.14 -18.4ValeroE 1.10 2.2 9 48.98 +.56 -2.8VerizonCm 2.20 4.5 11 48.56 +.16 -1.2WalMart 1.92 2.5 16 75.81 +.04 -3.7Walgrn 1.35 2.2 21 62.72 -.10 +9.2Xerox .25 1.9 14 13.40 -.15 +10.1Yahoo ... ... 37 42.55 -.33 +5.2

LIGHT SWEET CRUDE1,000 bbl.- dollars per bbl.Oct 14 92.92 +.65Nov 14 91.99 +.62Est. sales 515,111 Fri’s. sales 659,712

15,900

16,200

16,500

16,800

17,100

17,400

M SA M J J A

16,920

17,060

17,200Dow Jones industrialsClose: 17,031.14Change: 43.63 (0.3%)

10 DAYS

MOST ACTIVE ($1 OR MORE)Name Vol (00) Last Chg

LOSERS ($2 OR MORE)Name Last Chg %Chg

GAINERS ($2 OR MORE)Name Last Chg %Chg

BkofAm 855125 16.74 -.05AvanirPhm 835343 12.49 +5.75Yahoo 687034 42.55 -.33S&P500ETF677444 198.98 -.15iShEMkts 645657 43.57 -.22Apple Inc s 585253 101.63 -.03Facebook 492393 74.58 -2.90iShR2K 393087 114.11 -1.26NokiaCp 390381 8.56 +.19Twitter n 378168 49.38 -2.73

AvanirPhm 12.49 +5.75 +85.3SinoGlob 2.51 +1.01 +67.4ReWalkR n 37.15 +11.55 +45.1AldeyraT n 6.57 +1.54 +30.5ConcrtPh n 12.66 +2.60 +25.8Drdgold 2.88 +.50 +21.0EchelonC 2.58 +.38 +17.3MillerEnR 4.90 +.55 +12.6Alere 41.14 +4.53 +12.4Affimed n 6.40 +.70 +12.3

NetElem 2.88 -2.82 -49.5RadaElec 2.92 -.64 -18.0Aquasition 7.07 -1.43 -16.8NPS Phm 27.29 -5.42 -16.6ContraFct n 4.35 -.86 -16.5ReachLoc 4.28 -.78 -15.4DigitalAlly 18.65 -3.35 -15.2MGP Ing 10.42 -1.87 -15.2SinoCoking 5.40 -.97 -15.2CT Ptrs 16.06 -2.81 -14.9

1,800

1,850

1,900

1,950

2,000

2,050

M SA M J J A

1,960

2,000

2,040S&P 500Close: 1,984.13Change: -1.41 (-0.1%)

10 DAYS

spending is $23.96 mil-lion less than last fiscal year — a 12 percent re-duction — and $36.96 million less than the city budgeted in the 2013 fis-cal year.

The city will also have to issue about $20.6 mil-lion in certificates of obligations (municipal debt) to fund capital projects.

The city’s debt service accounts for 9.6 percent of the city’s budget.

With that, the city’s total debt will be about $242 million. Of that, $95.59 million is tax-supported debt, while $146.4 million is funded by other revenue.

Still, the budget plan also marks the initial steps of establishing more pay-as-you-go spending, Mayor Tim Paulissen said. In fact, most of the cuts in spending come from reducing spending on infrastructure projects that in the past relied on debt.

“We had been trying to do like 80 projects all at the same time,” Paulis-sen said. “While they are all important and need-ed, we are prioritizing the projects.

“Some of those we have been able to pay for in cash instead of (debt).”

The city also is add-ing more to what it puts aside in its motor pool fund. That allows of-ficials to have cash on hand should a “big-ticket” item such as a fire truck is needed, Paulis-sen said.

By prioritizing the projects, the city is also able to better manage what’s being done.

“There is only so much staff that can keep track of everything,” Paulis-sen said. “It is very dif-ficult to keep up with 80 different things with so many entities involved. This makes managing the projects a lot easier.”

Paulissen said just be-cause some projects are not being funded this go around doesn’t mean they are forgotten.

“We are not cutting our CIP projects,” he said. “We are just mak-ing them more manage-

able from a financial and resources standpoint.”

City council also ap-proved a tax rate of 59.7 cents per $100 of as-sessed property value, which is unchanged from last year. Still, resi-dents who have home-stead exemptions will be able to see a bit of a tax reduction after the city council approved in-creasing the homestead exemption from 12 to 14 percent.

The homestead ex-emption would, on av-erage, reduce a hom-eowner’s property tax payment to the city by about $22 a year. The av-erage house value in the city is $184,000, city of-ficials said.

This is the second straight year that the city council approved in-creasing the homestead exemption rate. Last year, the city council raised the rate from 10 to 12 percent.

Homeowners who declare a homestead exemption receive a 14 percent reduction in the taxable value of their property.

For example, a $100,000 house in League City with a homestead exemption would have its prop-erty value reduced by $14,000 for property tax purposes.

While residents will get a bit of a tax break, they will see a 15 percent increase in how much they pay for garbage pickup.

Starting February, the residential trash pickup rate will go from $11.22 a month to $13 a month.

The city is also mak-ing plans to conduct a utility services fee as-sessment to determine if water rates should be increased.

BUDGETContinued from Page A1

Budget: $195,009,914Tax rate: 59.7 cents per $100 of property value

Budget breakdown

Capital improvement plan: $66,188,213 — 39%

General fund: $55,773,769 — 34%

Utility fund: $31,194,458 — 18%

Debt service fund: $11,168,000 — 7%

Special revenue fund: $4,725,115 — 3%

Total spending: $171, 049,555

SOURCE: City of League City

League City 2014-15 budget

JIM LEVESQUE/The Daily News

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