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<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 />set at $200,000. <br />· The year end fund balances include: <br />o The Operating reserve at 25% of the operating budget. <br />o Accrued vacation, sick and comp time. Because of funding <br />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. <br />o The Capital equipment fund is money set aside for the purchase of major <br />video production equipment systems. <br />o The truck replacement fund is to replace the production tnlck. The <br />current truck is seven years old. It may need to be replaced in six to seven <br />years. The cost of replacement is 175,000-185,000. <br />o The building repair fund is to cover major costs related to the building <br />such as window, roof, furnace, AC replacement and painting, carpet <br />replacement etc. <br />o The bond reserve is an amount required by our bond resolution, intended <br />to be the final payment of the bond. <br /> <br />Bude:et <br /> <br />. The recommended operating budget for the organization totals $1,241,763. This <br />number includes franchise fees back to the cities and is a 5.1 % increase over last <br />year's budget. The increase is due to a recommended 3% salary increase for staff, <br />increased legal fees, a franchise and PEG fee audit of Comcast, and fuel and <br />inflation related expenses. <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 2009 include upgrading the Studio A control room to a <br />digital format, the addition of a fourth encoder to master control to increase <br />simultaneous encoding capabilities, replacing worn-out record decks, and <br />upgrading audio systems in editing suites. Truck equipment includes a dual <br />digital replay system to replace the malfunctioning Omega replay system. <br />. Additional recommended capital expenditures include body work for the <br />production truck, and a monument style reader-board sign. <br /> <br />Closine: Points <br /> <br />. We have created a thriving and dynamic service for our cities, schools, producers, <br />and viewers. Through program playback and channel management, computer and <br />network consulting, video equipment consulting, and video production services, <br />our cities are seeing real benefits from their investment of franchise fees and PEG <br />fees. Our cable subscribers are benefiting from this investment with educational <br /> <br />L_ <br /> <br />2 <br />P.2 <br />