Update on Getting Our Employees Paid

Print Friendly, PDF & Email

Over the weekend, the media reported that TAPS missed payroll for 153 employees —drivers, call center agents, supervisors, and other operations staff. I want to bring you up to date on the situation.

This morning representatives of North Central Texas Council of Governments (NCTCOG) came up to Sherman and met with the management team to help us get cash in the bank by expediting funding payments, to pay workers who did not get paychecks as expected on Friday (October 23).

NCTCOG is one of the funding sources that provides budget dollars for TAPS operations in Collin County.

Earlier this month, at the October 7 meeting of the TAPS board of directors, NCTCOG offered to quickly pay any billing presented. In the normal course of business, it can take as long as 45 days to receive payment. But by expediting our invoices, payment can be in our bank accounts as soon as 4 days after billing.

We are expecting funds from our NCTCOG billing to put just over $184,000 in our account by mid-week so that we can then issue the paychecks our employees should have gotten last Friday.

NCTCOG also told our board of directors that it is willing to provide a $250,000 “backstop” to secure an additional loan or extension of our credit line with the bank. The legal details are being worked out.

Tim Patton