Elko Television District approves fiscal year results, moves $300,000 to investments and OKs $34,784.07 in bills
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Summary
The Elko Television District board accepted the treasurer's report showing the district finished the fiscal year roughly $9,000 in positive position rather than the projected deficit, approved payment of outstanding bills totaling $34,784.07, and authorized transfer of $300,000 to Raymond James to ladder in CDs.
The Elko Television District board on Thursday accepted the treasurer's report, authorized payment of $34,784.07 in outstanding bills and approved a $300,000 transfer to Raymond James to be placed in staggered certificates of deposit.
The treasurer reported the district closed the fiscal year about $9,000 ahead of projections after a budget that had forecast a nearly $500,000 deficit. The financial statement shown at the meeting listed roughly $600,000 on deposit before the board-approved transfer. The board also heard that $105,000 of cash remains immediately available after the transfer.
The board voted to pay a list of vendors presented at the meeting, including City of Elko ($4,000), Eagle Communications ($5,974.92), Premier Wireless ($16,922.68) and other line items that together totaled $34,784.07. A motion to approve the bills passed on a voice vote.
The $300,000 moved to Raymond James will be placed into staggered one‑year CDs so roughly $100,000 matures every two months, board members said, preserving periodic liquidity. The board also noted the district will continue to manage shorter‑term cash needs from an interest‑bearing account and a cash reserve of about $105,000.
Separately, the board approved a two‑year renewal of the Copy Company LLC contract at the same monthly rate — a $12.50 monthly billing — following a motion and second. The motion passed on a voice vote.
Board members agreed to continue monitoring cash and investment timing and to review the CD ladder as maturities occur.