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o Thevehicle replacement fund is to cover the cost of a new fleet vehicle. <br />o Thebuilding repair fund is to cover major costs related to the building <br />such as windows, roof, furnace, parking lot, AC replacement and painting, <br />carpet replacement etc. <br />o Thefranchise renewal fund is a reserve fund for the NMTC's franchise <br />renewal process. Franchise renewal can be very expensive, with the <br />informal negotiation process historically costing around $200,000 across <br />the renewal period. Moving to a formal negotiation process is more <br />expensive. These costs could include needs assessments, consulting, and <br />legal fees. <br />Budget <br />The recommended operating budget for the organization totals $1,413,098. This <br />number is a $59,589 increase over last year’s operating budget. Increases were <br />made to the personnel, payroll tax, benefits, administrative costs, and office <br />expenses. <br />Budgeted capital purchases for 2023 are set at $628,335. Budgeted capital items <br />include a replay unit for the production truck, cameras, tripods, equipment <br />contracts, closed captioning contracts, and microphones, The capital budget also <br />includes routine computer/software upgrades, and software licenses, the HD Bond <br />payment of $229,425 and $200,000 in capital equipment support for cities. <br />The overall capital budget is $39,161 lower than the 2022 capital budget. <br />The overall 2023 budget is $20,248 more than the 2022 budget <br />Closing Points <br />We have worked together to create a thriving and dynamic service for our cities, <br />schools, producers, and viewers. Through program playback and channel <br />management, internet streaming of city meetings including an agenda <br />bookmarking tool, channel live streaming, Roku and AppleTV channels, 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 from this investment with educational <br />opportunities, tape and film transfer services, and varied, informative and <br />interesting programming regarding their communities. <br />NMTV will have a new Strategic Plan by the end of 2022. That plan will address <br />many issues facing NMTV and will outline a path forward. <br />Franchise renewal should move forward, and will have an impact on future <br />budgets and goals. <br /> <br />