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a The truck replacement fund was used to purchase studio sets in 20I7. <br /> The funds were not needed for a new production truck, as the truck was <br /> replaced as part of the HD upgrade with bond fiends. A small amount is in <br /> this reserve in the event the fleet vehicle requires replacing. <br /> a The building repair fund is to cover major costs related to the building <br /> such as windows, roof, furnace, parking lot, AC replacement and painting, <br /> caq)ct replacement etc. <br /> ❑ The bond reserve is currently closed out, as the building was paid off in <br /> 2015. <br /> o The franchise renewal fund is a reserve fiend for the NMTC's franchise <br /> renewal process. franchise renewal can be very expensive, with the <br /> informal negotiation process costing around $200,000 across a three year <br /> period. Moving to a formal negotiation process is more expensive. These <br /> costs include needs assessments, consulting, and legal fees. HIS <br /> anticipated that up to 5100,000 of these funds could be utilized in 2019. <br /> Buc1 et <br /> ■ The recommended operating budget for the organization totals $1,305,578. This <br /> number represents a$13,525 increase over last year's operating budget. While <br /> there were some reductions in anticipated administrative expenditures, building <br /> maintenance and utilities line-items were increased, along with personnel costs. <br /> ■ Budgeted capital purchases for 2019 are set at 5450,615, A little over half of this <br /> amount is dedicated to the IID bond payment of$230,475. Budgeted capital <br /> items for 2019 include Makito.X l.lD video transport systems for two Citics. <br /> Tightrope streaming servers and related equipment for six Cities, a wireless <br /> microphone system for Studio A, field cameras, and the annual <br /> rnaintenancelsupport contracts for City and NMTV Tightrope, Ross, I laivision <br /> and Carousel equipment, The total arnount budgeted for video equipment <br /> replacement/support is S 187,640. The capital budget also includes routine <br /> computer/software upgrades, software licenses and inoncy for parking lot repairs <br /> and re-striping. <br /> ■ franchise fees paid to the cities are budgeted at 5400,000. This is the Same as last <br /> year. <br /> Closi1g., Points <br /> ■ We have created a thriving and dynamic service for our cities, schools, producers, <br /> and viewers. Through program playback and channel managerrncnt, internet <br /> streaming of city meetings including an agenda boo kmark1ng tool, video <br /> equipment consulting, drone services, and video production services, our cities <br /> are seeing real benefits from their investment of franchise fees and. PEG fees. <br /> Our cable subscribers are benefiting trom this investment with educational <br /> opportunities, tape and film transfer services, and varied, informative and <br /> interesting programming regarding their-communities. <br /> 30 <br />