HomeMy WebLinkAbout06.25.2024.telecommunications minutes TELECOMMUNICATIONS UTILITY
BOARD OF TRUSTEES
625 Glenwood Street
June 25, 2024
11:00 a.m.
1. Members present: Van Fleet, Batemon and Kurtenbach. Mr. Young joined the
meeting at 11 :04 a.m. Ms. Wienands was absent.
2. Moved by Kurtenbach seconded by Batemon that the agenda as presented, be
approved. Voice vote-Ayes: Three Motion carried.
3. Moved by Kurtenbach seconded by Batemon, to approve payment to the City of
Waterloo for reimbursement for start-up costs, Waterloo Fiber employee costs
including salaries, life and disability, benefit reimbursement, and health insurance, in
the amount of$892,947.50. Voice vote-Ayes: Four. Motion carried.
Eric Lage, General Manager, provided an overview of the invoices explaining that
the first invoice for $892,947.50 is for costs from the start of the utility of July 2023
through April 1 , 2024. The second invoice for $280,968.22, is everything from April
through end of May 2024 including all city staff time.
Mr. Van Fleet questioned how the expenses align with our budgeted expenses.
Eric Lage commented that he roughly calculated it out and we are pretty well in line.
Mr. Van Fleet and Eric Lage discussed the invoice breakdown. It was noted that the
City of Waterloo has very generously offered to accept our reimbursement of costs
with no interest.
Mr. Kurtenbach questioned the schedule for future billing from the city.
Eric Lage explained that as of June 1, the utility is paying its own bills, so we should
not expect any reimbursement requirements except for the G.O. Bond. He shared
that Maggie Burger and Steve Nadel have reviewed these numbers.
4. Moved by Kurtenbach seconded by Young to approve payment to the City of
Waterloo for start-up costs, city staff time, and Waterloo Fiber employee costs
including regular salaries, overtime, life and disability, retirement pay, benefits
reimbursement, and health insurance, in the amount of $280,968.22. Voice vote-
Ayes: Four. Motion carried.
Mr. Kurtenbach questioned if we would receive invoices on a monthly basis.
Eric Lage explained that future invoices would only be rent, vehicle maintenance and city
staff time.
Kelley Felchle, Board Secretary, explained that it would likely not be a monthly invoice for
the salaries, it just needs to be reimbursed at some point in the year.
5. Adjourn.
With no further business before the board, it was moved by Kurtenbach seconded by
Young that the meeting be adjourned at 11:15 a.m. Voice vote-Ayes: Four. Motion carried.
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Keffey Eefchfe SImirauv D
Kelley Felchle
Board Secretary