PIRATES' TREASURES
Financial News & Tidbits for Employees of PCPSD 11.2.2022
CFO'S COMMENTS
Hello again everyone. I hope that each of you enjoyed a Happy Thanksgiving; we have so much to be thankful for and it's important that we recognize those things, not just once a year, but continuously. I am thankful for the opportunity to serve you, the administration, and Pass Christian Public School Board as Chief Financial Officer. The role of the Chief Financial Officer includes a broad range of responsibilities including oversight of processing your monthly payroll, ensuring compliance with state and federal purchasing regulations, bonding requirements, properly recording district revenues, and so forth... It is not a responsibility that I can afford to take lightly and I appreciate the support of the district's business office staff and all school & department personnel who work with us. Always feel free to contact me or any of the business & finance team if you need assistance.
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DO YOU NEED TO MAKE INCOME TAX WITHHOLDING CHANGES?
Common lifestyle changes, like getting a job or getting married, can change your tax liabilities. To avoid being caught off guard by unexpected tax bills or huge refunds, you may need to adjust withholdings through the district's payroll office. When you earn income, you'll most likely owe income taxes. How much the district withholds from your income and pays to taxing authorities on your behalf is determined by information you submit on your federal or state income tax withholding forms.
When you have too much money withheld from your income, you end up giving interest free loans to the government (and getting tax refunds). On the other hand, having too little withheld could mean an unexpected tax bill and possibly a penalty for underpayment. The key is to update your withholding orders regularly.
The links below provide downloadable forms for updating your federal and state withholdings. You may wish to update either or both. Please submit any revised forms to payroll@pc.k12.ms.us
