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Board adopts investment, accounts-receivable and staff-delegation policies and approves insurance and advertising budgets
Summary
The board approved an investment policy (caps cash/investments at $800,000), an accounts-receivable policy (30/60/90-day collection steps) and a policy delegating authority to staff to proceed with budgeted projects. The board also approved FY2027 liability insurance at $17,005 and a $10,000 advertising budget.
During routine business the Elko Television District board approved three policy changes and several budget items.
Marissa Rees reviewed the investment policy that designates the chair and treasurer as primary account signatories and sets a $800,000 cap on cash and investments (overages to be transferred to the district checking account). The board approved the policy by motion.
The accounts-receivable policy was presented outlining invoicing and collection steps: statement and phone contact within 30 days, board notification at 60 days past due, certified letter at 90 days and potential site/equipment shutoff and legal action if not resolved. The district approved the policy.
The board also approved a one-page policy authorizing staff to proceed with construction and equipment projects that are budgeted and formally board-approved without requiring approval of every single quote; the policy is intended to speed project execution while preserving budgetary guardrails.
On budget items, the board approved a FY2027 liability insurance renewal reflecting a roughly 16% increase (premium reported at $17,005) and approved an initial advertising and outreach budget of $10,000 to fund local sponsorships and promotional efforts including the Chamber Beer Festival.
