SUBJECT
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Approve the First Amendment to the Employment Agreement for the PRWC Financial Manager (Action)
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DESCRIPTION
On March 19, 2025 the Polk Regional Water Cooperative (PRWC) entered into an Employment Agreement with Laura Guy-Rice as Finance Manager, which remains in full force and effect. Section 4 of the Employment Agreement establishes a base salary for the Contract Employee of $85,00, payable on a monthly or biweekly basis. The Employment Agreement also provides that the Cooperative shall evaluate a potential adjustment of the Contract Employee’s salary on an annual basis.
On February 24, 2026, the Executive Director and the Finance Manager met to discuss the Contract Employee’s performance and base salary. A Performance Evaluation was developed and is attached as Exhibit A. Following the performance review the Executive Director has decided to recommend to the Board of Directors a five percent (5%) increase to the Contract Employee’s salary based on the Contract Employee’s exemplary performance over the past year regarding complicated financial matters critical to the future of the PRWC. This would increase the Contract Employee’s base salary to $89,250 effective for the payment period beginning in April 2026.
Mr. de la Parte (PRWC General Counsel) prepared Amendment No. 1 to the Employment Agreement approving a five (5%) percent increase to $89,250 which will be provided as a handout to the Board.
RECOMMENDATION
Approve the First Amendment to the Employment Contact.
FISCAL IMPACT
Like the Contract Employee’s current salary, the source of funds for this salary increase will be the Cooperative’s administrative and project budgets.
CONTACT INFORMATION
Eric DeHaven