The four-member board of directors of the Commonwealth Utilities Corp. was given a little over $30,000 budget in fiscal year 2014 to carry out its fiduciary duties for the utility agency.<\/p>\n
Based on the records obtained by Saipan Tribune, a total of $30,940 is allocated to the board\u2019s function and includes allowances to conduct training for members.<\/p>\n
Of the board\u2019s budget endorsed for fiscal year 2014, the following areas were considered:<\/p>\n
– honorarium of $3,600 for the four members amounting to $60 per member. The amount is inclusive of the extra meeting set each month. <\/p>\n
– professional development and conferences for members, allocated at $8,400 and $2,740 respectively. Airfare for off-island members as well as ticket fare for conferences are also budgeted at $7,200 and $6,000 respectively for the 12-month period.<\/p>\n
– For training, the CUC board is authorized a budget ceiling of $2,300, while $700 is allocated for supplies.<\/p>\n
During last week\u2019s meeting, CUC board chair David J. Sablan disclosed that the board, in consideration of the multiple issues surrounding CUC operations, intends to conduct an extra meeting each month on top of the regular monthly meeting.<\/p>\n
Sablan reminded colleagues\u2014vice chair Diego Songao and members Adelina Roberto and Chris Concepcion\u2014of the cash flow situation of the agency and the need for prudent spending of the board\u2019s budget. The chairman pointed out that allocation for members\u2019 training was considered in the budget to equip each member with knowledge about the board\u2019s fiduciary duties.<\/p>\n
For fiscal year 2015, which begins on Oct. 1, the CUC board was proposed a budget of $32,760\u2014slightly higher than the current board allocation.<\/p>\n
The CUC board is the decision-making body of the utilities agency, which relies on its own revenues and collections from customers for its operational funding.<\/p>\n","protected":false},"excerpt":{"rendered":"
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