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<br />NORTH METRO TELECOMMUNICATIONS COMMISSION
<br />STATEMENT OF ACTIVITIES
<br />For the Year Ended December 31, 2004
<br /> Media Center Commission Total
<br />OPERATING REVENUES
<br />Cable operating franchise fees $ $ 517,225 $ 517,225
<br />PEG fees 557,152 557,152
<br />TOT AL OPERATING REVENUES 557,152 517,225 1,074,377
<br />OPERATING EXPENSES
<br />Franchise fee reimbursements, city members 96,906 96,906
<br />Personnel 325,102 81,890 406,992
<br />Employee benefits 100,878 22,535 123,413
<br />Office 56,752 29,135 85,887
<br />Legal fees 31,066 31,066
<br />Other administrative costs 16,241 23,104 39,345
<br />Vehicle 2,567 2,567
<br />Production 21,718 21,718
<br />Depreciation 160,633 26,594 187,227
<br />Studio equipment purchases 13,039 1,101 14,140
<br />Amortization 6,180 6,180
<br />TOTAL OPERATING EXPENSES 696,930 318,511 1,015,441
<br />OPERATING INCOME (139,778) 198,714 58,936
<br />NON-OPERATING REVENUES (EXPENSES)
<br />Investment income 5,553 18,487 24,040
<br />Other income 87,783 631 88,414
<br />Interest expense (12,273) (12,273)
<br />Loss on disposal of capital assets (177,174) (874) (178,048)
<br />TOTAL NON-OPERATING REVENUE (83,838) 5,971 (77,867)
<br />INCOME (LOSS) BEFORE OPERATING TRANSFERS (223,616) 204,685 (18,931)
<br />TRANSFERS IN (OUT) 64,000 ( 64,000)
<br />CHANGE IN NET ASSETS (159,616) 140,685 (18,931)
<br />NET ASSETS, BEGINNING 1,203,257 329,918 1,533,175
<br />NET ASSETS, ENDING $ 1,043,641 $ 470,603 $ 1,514,244
<br />
<br />See accompanying notes
<br />to basic financial statements
<br />
<br />P.86
<br />I
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