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Lamoille FiberNet board approves 2023 comp‑time payout and authorizes executive director spending
Summary
The board voted unanimously to pay out 2023 comp time and authorized the executive director to spend up to the 2024 budget forecast, after Treasurer Colette Jurnak presented the August financial report showing routine expenses, an overpaid rent item, and a cash forecast for 2025.
The Lamoille FiberNet Governing Board voted unanimously Sept. 25 to pay out 2023 comp time and to authorize the executive director to spend up to the 2024 budget forecast.
Treasurer Colette Jurnak presented the monthly financial report, saying, “we had routine expenses in August and the report was done on time. We overpaid for rent. Comp time has been calculated. We are under budget in expenses due to legal fees.” The board discussed the cash forecast, which showed $393,680 at the end of August and a projection of $200,089 for 2025; Colette noted the projection anticipates being about $8,000 over the adopted budget after reductions.
Trevor Braun moved that the board approve payout of 2023 comp time and approve the executive director to spend up to the 2024 budget forecast as presented; Carol Caldwell‑Edmonds seconded and the motion passed unanimously. Chair Jeff Tilton said the authorization would allow Executive Director Lisa Birmingham to proceed without seeking individual approvals for routine forecasted expenditures.
Board members asked questions about interest-rate options and the sweep account; Colette responded on available bank options and tradeoffs between higher rates and funds liquidity. The authorization is limited to amounts described in the meeting packet and does not change the board’s approval thresholds for nonforecasted or extraordinary spending.
