And an accounting rule allows it to include the hypothetical 9 percent return when calculating the effect of pension activity on its reported income.

His last reported income was $138,000, not including benefits.

Over all, Island districts take about $610 for every $10,000 of reported income in school taxes, compared with a statewide average of $490.

Over all, the tax levy was equivalent to $770 for every $10,000 of reported income.

While many people in Region 2 are wealthy, the vast majority of residents are poor: 36% earn no reported income at all.

But for a company that is considered a good risk, the terms could be liberal and the reduction in reported income might be disregarded.

In accrual accounting, a portion of the expected costs must be taken against each year's reported income.

"Pretty good," Hanley admitted, "considering my reported income last year was only thirty thousand dollars."

A portion of the expected costs must be taken against each year's reported income.

The rules require accrual accounting, in which a portion of the expected costs must be taken against each year's reported income.