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<br />--- - -- -- - ------ ----- -- - -- ------ - <br /> <br />. Estimated revenues include: Franchise fees based on the actual first quarter <br />franchise fee payment PEG fees based on 2.82 per subscriber per month at <br />19,500 subscribers. It should be noted under the recent FCC order PEG fees may <br />not exist in the very near future. The order is being challenged, but this is a gray <br />area as far as income is concerned. Other income includes dub fees, sponsorship <br />spots, equipment rental, and production services. Interest income is estimated <br />based on the first quarter interest earnings of this year. <br />. Estimated expenditures include the operating expenses, and capital expenses as <br />outlined in the proposed 2008 budget For purposes of easy identification the <br />franchise fees going back to cities have been broken out of the operating expenses <br />on the Financial Summary Sheet Franchise fees back to cities are included under <br />administrative expenses in the actual budget Franchise fees back to cities were <br />left at $200,000. This is the same amount as last year. Because of income <br />uncertainties it was determined that building additional reserves was a prudent <br />step. . <br />. The year end fund balances include: The Operating reserve at 25% of the <br />operating budget. Accrued vacation, sick and comp time. Previously this item <br />was included in the actual budget. A much smaller amount ($5-$7,000 would be <br />budgeted to cover payment of earned time for any staff leaving employ.) Because <br />of funding uncertainties, there may be a need to payout most or all of the accrued <br />time. Therefore, it has been included as a reserve fund. The Capital equipment <br />fund is money set aside for the purchase of major video production equipment <br />systems. The truck replacement fund is to replace the production truck. The <br />current truck is six years old. It may need to be replaced in seven to eight years. <br />The cost of replacement is 175,000-185,000. The building repair fund is to cover <br />major costs related to the building such as window, roof, furnace, AC replacement <br />and painting, carpet replacement etc. The bond reserve is an amount required by <br />our bond resolution, intended to be the final payment of the bond. <br /> <br />Bude:et <br /> <br />. The recommended operating budget for the organization totals $1,181,104. This <br />number includes franchise fees back to the cities and is a 4.79% increase over last <br />year's budget The increase is primarily due to a recommended 3% salary <br />increase for staff, the addition of 4 part-time positions totaling $21,961, and <br />insurance costs. <br />. The total budget, including capital costs, is 2.9% lower than last year. <br />. Franchise fees back to cities are included under administrative expenses. <br />. The building bond payment is included under capital expenses. <br />. Equipment purchases in 2008 are primarily to replace worn out camcorders and <br />editing systems. Master control improvements will allow us to stream our <br />channel on-line and offer video-on-demand services. This will expand our <br />potential viewership and increase the possibilities for income generation. <br /> <br />2 <br /> <br />~~ <br />