Alaska Native corporation lowers board pay after complaints

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JUNEAU, Alaska - Goldbelt Inc. has amended a scheduled pay raise for its board of directors following concerns from shareholders about the size of the increase.

The Juneau Empire reported the board voted Friday to reduce the compensation from $5,000 to $3,000 for each board member.

Board Chairman Todd Antioquia says in a letter to shareholders of the Alaska Native corporation that board members will receive a $500 meetings fee but will no longer receive fees for travel.

Goldbelt has more than 3,600 shareholders and derives the majority of its revenue and income from government contracting and services, as well as tourism.

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