Springfield Business Journal_2019-10-14

SINCE YOU CAN’T TAKE IT WITH YOU... Where exactly should it go? The estate planning group of CECB will guide you through the process of answering this, and other questions to help you establish your legacy. You can always count on our accessibility, superior personal attention and unrivaled responsiveness to your needs. It is part of our strong commitment to excellence that is uniquely CECB. For practical and reliable assistance regarding your unique planning needs, contact the professional estate planning attorneys at Carnahan, Evans, Cantwell & Brown, P.C. John M. Carnahan, III Thomas D. Peebles, Jr Douglas D. Lee Courtney L. Fletcher Andrew T. Peebles David K. Olive Douglas R. Nickell 14 · SBJ.NET OCT 14-20, 2019 TAX & FINANCIAL PLANNING Executive compensation rises at Jack Henry by SBJ Staff · sbj@sbj.net At least three top officers at Jack Henry & Associates Inc. (Nasdaq: JKHY) earned more compensation during fiscal 2019, ac- cording to a proxy statement filed with the U.S. Securities and Exchange Commission. In the Oct. 4 SEC filing, the Monett financial software firm reported total compensation was up for three executives for the fiscal year that ended June 30. Two other executives previously were not among the top paid at the firm, so prior year compensation was not disclosed in the fil- ing. President and CEO David Foss, the high- est-paid executive at the company, received $4.9 million in total compensation, a 24% increase from $3.9 million a year earlier. His salary was up 15% to $775,000, accord- ing to the SEC filing. The other top executives, by fiscal 2019 total compensation, are: • Kevin Williams, treasurer and chief fi- nancial officer, $1.9 million, up 2.2%; • Mark Forbis, executive vice president and chief technology officer, $1 million, up 5%; and • Greg Adelson, vice president, $800,668, and Ted Bilke, vice president, $766,124, not p r e v i o u s l y named in SEC proxy filings. Forbis is sched- uled to retire on Nov. 15, when Bil- ke is slated to suc- ceed him as CTO and Adelson is scheduled to be promoted to the newly created role of chief operating officer, Springfield Business Journal previously reported. For fiscal 2019, Jack Henry reported net income of $271.9 million, a 26% drop from $365 million a year earlier. David Foss’ total compensation grows 24%. Auditor: Greene County court gets second- highest rating by SBJ Staff · sbj@sbj.net The 31st Judicial Circuit Court in Greene County received the second-highest mark in an audit report from Missouri Auditor Nicole Galloway’s office. The “good” rating for the court operations is short of the top level of “excellent.” The audit took issue with excessive balances for certain funds, according to a news release. For example, a fund supported by civil case filing fees had a balance of more than $980,000, with about $80,000 spent, as of Dec. 31, 2018. Court officials say the fund bal- ance is being invested to upgrade courtrooms and to support a new circuit judge position and the Family Treatment Court program. A separate release from the 31st Judicial Circuit indicates the court processing more than $9.4 million in fees and deposits dur- ing 2018. “We are very proud of the manner in which the financial, operational and legal business is conducted in the 31st Judicial Circuit,” Presiding Judge Michael Cordon- nier said in the release. “While it is no sur- prise to us, it is certainly gratifying to learn and confirm that there were no significant deficiencies detected in the audit.” Separately, Galloway’s office this summer started an audit of Greene County’s gov- ernment. It focuses on a nearly 2-year-old whistleblower complaint involving former Greene County Presiding Commissioner Bob Cirtin. He allegedly asked county em- ployees to spend work time promoting the Invest in Greene County Political Action Committee for the county’s half-cent gen- eral revenue sales tax that was approved in 2017, according to past Springfield Business Journal reporting.