VPR - with $2 mil in bank, no staff cut during pandemic, and $960,000 Paycheck Protection already received - still wanted almost $900K in state-controlled federal recovery funds. The Legislature cut that number down to a mere $100,000, reports VPR’s John Dillon.
"But unlike many Vermont media organizations hit hard by declining ad revenues, VPR has not been forced to cut staff during the pandemic. Both VPR and Vermont PBS, in fact, are in good financial shape. VPR has a $9.5 million budget; it has cash on hand and almost $2 million in reserves available. VPR also obtained a $960,000 federal paycheck protection program loan to keep employees on the job. The loan is likely to be forgiven if people stay employed."
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