Norfolk and North Fork Area Transit reach funding agreement of $125,000
NORFOLK, Neb. -- The City of Norfolk approved a funding agreement with North Fork Area Transit Monday night to the amount of $125,000.
There will be two separate payments of $62,500 each.
This comes after North Fork Area Transit had to temporarily close down, after former manager Jeffrey Stewart was convicted of embezzling money from the company.
"There's been a few changes to the agreement but nothing that I would say is that significant," Andy Colvin said, City Administrator. "We still have all the reporting requirements. We've got, any changes to service, they'd have to give us reasonable notice to those things. So, we worked with them through this process pretty well I think to get what I think is a pretty good agreement."
According to the board for NFAT, the funds are strictly for cash flow purposes. The finances will keep additional services moving into the next fiscal year.
In the past, the city used to have four separate payments with the company.
All council members present voted yes, and the motion carried.
They will come to a new agreement before the end of the fiscal year on Sept. 30, 2025.