The straight line

Debt capital is your borrowed funds. The amount of debt on your company’s balance sheet is a critical number. Typically a sign of success is when a balance sheet shows the amount of long term debt decreasing for one or more years. Too much debt can be a strain on earnings, and a sign of a struggling company. That said, debt used to fund profitable growth can drive greater earnings for your company.

We at Gardiner Thomsen CPAs take great pleasure in announcing the promotion of Seth Gilson to the role of Partner in our firm, joining our 7 other partners. Seth has been a valuable asset to the firm over the past 15 years and demonstrates outstanding dedication to our clients.

Thank you to everyone who was able to attend our hospitality room in Minneapolis on December 5th during the CHS Annual Meeting. We have had the pleasure of hosting a hospitality room during this annual event for many years now and were very pleased with the turn out this year!

As we enter 2014, a number of changes take place, including those made by the American Taxpayer Relief Act of 2012 (ATRA), signed into law on January 2, 2013, and the provisions in the Patient Protection and Affordable Care Act of 2010 (ACA), scheduled to take effect in 2013 and 2014.

Credit unions have seen their profitability stabilize in 2013 when compared to 2012. Through the first six months of 2013, credit unions have maintained a return on assets of 0.84%. Interest yields are expected to remain steady for both loans and investments. CUNA believes that there will be no NCUA corporate assessment in 2014.

GT employees had a very busy yet fun summer, whether they were working an event, training, attending a baseball game, gardening or…oh yeah, working!