Expenses

The Columbia Association's proposed 2005 budget has an 8.5 percent increase in operating expenses, an upsurge that board Chairman Miles Coffman says is too high. Coffman said the jump from $30.9 million in 2004 to the proposed $33.5 million in 2005 gave him "heartburn." Operating expenses since 2001 have hovered around $30 million. "I've got a problem with an 8 percent increase in operating expenses," he told the board and association staff Thursday night during a work session on the budgets.

REQUIRING Maryland's 24 local subdivisions to help pay the bill for this state's circuit courts makes no sense.It drains precious resources from poorer local governments and leads to unequal courthouse situations, based on local wealth. It also lets the state escape paying its fair share.Belatedly, Gov. Parris N. Glendening has decided that the state should assume full responsibility for Maryland's circuit courts. He should have done so three years ago. That's when a commission reported ways to pick up more of these expenses on the logical ground that "the courts of Maryland are state courts."

A financial analyst accused Rouse Co. yesterday of improperly accounting for $25 million in expenses, a move that allowed the shopping mall giant to report record quarterly earnings to the public. David Fick, an analyst at Legg Mason Wood Walker Inc., said investors were being misled by the company and recommended they sell the stock. Rouse executives said the company did nothing wrong but acknowledged that they did not follow industry guidelines by excluding such expenses as bonuses and retirement costs from funds from operations, a benchmark of performance used by most real estate investment trusts.

As your prepare your 1991 income tax returns, be careful how you treat that condo at Ocean City or Deep Creek Lake. Here are some tips for preparing tax returns on rental property.Losses generated from rental property are normally deductible, though they are limited by various phaseout and carry-over provisions. However, losses derived from renting a vacation home are subject to additional restrictions.A vacation home is rental property that has been used by the taxpayer for personal purposes for more than 14 days during the tax year or more than 10 percent of the number of days the home is rented at a fair rental value, whichever is greater.

The county will cut Sunday hours at the Millersville Landfill and Glen Burnie and Millersville convenience centers, in an effort to save money in overtime expenses and fuel. The county expects to save more than $425,000, County Executive John R. Leopold announced last week. "Tough fiscal times dictate that we take every action possible to trim expenses without eliminating essential services," Leopold said in a statement. "While this may cause some inconvenience, it saves money and also decreases harmful vehicle emissions."

The former CEO of Severna Park-based Wings to Go pleaded guilty Monday to wire fraud for embezzling more than $885,000 from the franchise company to pay for prostitutes and phone sex, the U.S. attorney's office in Baltimore announced. Mark Chandler Goodnow, 55, of Pasadena, former president and CEO of the Buffalo wings franchise company, spent about $885,071 of the company's money to hire prostitutes in Maryland and to pay three women in Texas for phone sex and personal expenses, according to his plea agreement.

DEAR AMY: I work for a partner at a very distinguished company. He has been conducting an affair with a "client" for more than three years now. He has been married for well over 20 years. He, however, is using company funds to wine and dine his mistress and is asking me to submit these expenses for reimbursement. My conundrum is that if I report him, I will lose my job; he is very connected. If I don't, then I feel I am cheating the company. I have asked to be transferred, but no other positions are available.

Which expenses can be covered with funds from a 529 college savings plan? Which ones aren't covered? I'm a parent. - H.K., via the Internet Named for Section 529 of the Internal Revenue Code, it is a qualified tuition plan whose withdrawals can only be used to pay for higher-education expenses. "Basic expenses covered are tuition, mandatory fees, books, supplies, equipment required by the institution and, if the student is at least half-time, it can also cover room and board," said Joseph Hurley, a certified public accountant and chief executive officer of Savingforcollege.

To all who have misconceptions about the protest at the Ed Block Award Foundation's banquet, I was there. I helped with the protest. I know why were there and what happened. We were not protesting Michael Vick's existence with our peaceful protest of approximately 100 people. We were protesting his receiving the courage award. And we did not need a dozen policemen to control us. Four to six stood along the barrier and watched us. I spoke with all of them and assured them that we would not be any trouble.

When a seller wrongfully refuses to settle as required by his real estate contract, the buyer has a choice of remedies. The buyer can sue for monetary damages to recover the money he has lost on the transaction. Or he can sue for specific performance to have a court order the seller to settle for the property and for damages caused by the delay in obtaining performance of the contract. Which remedy the buyer chooses depends on the circumstances. It often takes months or even years for a specific performance action to be tried in court.