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<br />NORTH METRO TELECOMMUNICATIONS COMMISSION
<br /> STATEMENT OF ACTnnTlliS
<br />For the Year Ended December 31, 2003
<br /> (With Comparative Totals for 2002)
<br /> Media Cable Total Total
<br /> Center Commission 2003 2002
<br />REVENUE
<br />Franchise fees $ $ 495,385 $ 495,385 $ 481,731
<br />PEG fees 501,238 501,238 490,996
<br />Intercompany transfers 62,000 (62,000)
<br />Interest income 4,496 7,687 12,183 13,240
<br />Gain on sale of fixed assets 2,000 2,000
<br />Miscellaneous 9,951 9,951 5,300
<br />TOTAL REVENUE 579,685 441,072 1,020,757 991,267
<br />EXPENSES
<br />Franchise fee reimbursements, city members 136,975 136,975 35,000
<br />Personnel 294,626 68,592 363,218 345,114
<br />Employee benefits 82,433 19,461 101,894 87,648
<br />Office 68,022 30,532 98,554 103,686
<br />Legal fees 53,567 53,567 103,713
<br />Other administrative costs 26,092 17,938 44,030 57,423
<br />Vehic1e 2,291 2,291 2,988
<br />Production 20,265 20,265 21,550
<br />Depreciation 135,578 5,675 141,253 131,574
<br />Amortization 2,060 2,060
<br />TOTAL EXPENSES 629,307 334,800 964,107 888,696
<br />CHANGE IN NET ASSETS (49,622) 106,272 56,650 102,571
<br />NET ASSETS, BEGINNING OF YEAR 1,252,879 223,646 1,476,525 1,373,954
<br />NET ASSETS, END OF YEAR $ 1,203,257 $ 329,918 $ 1,533,175 $ 1,476,525
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<br />See notes to financial statements
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