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Communications Fund Summary <br />91 <br />The following table depicts the 2013 financial activity for the Communications Fund for the fiscal <br />92 <br />period ending March 31, 2013 (unaudited). <br />93 <br />94 <br />20132013%% <br />ActualActualExpect.Diff. <br />Budget <br />Revenues <br />Cable franchise fees373,698$ -$ 0.0%0.0%0.0% <br />Interest earnings1,000 - 0.0%0.0%0.0% <br />Total Revenues$ -374,698$ 0.0%0.0%0.0% <br />Expenditures <br />Communications374,698$ 156,324$ 41.7%42.5%-0.7% <br />Total Expenditures$ 156,324374,698$ 41.7%42.5%-0.7% <br />95 <br />96 <br />Comments: <br />97 <br />Communications Fund revenues and expenditures are near expected levels. <br />98 <br />99 <br />The Communications Fund is currently in excellent financial condition with $591,000 in available cash <br />100 <br />reserves for operations or capital replacements. This represents 158% of the total operating budget <br />101 <br />however some of these monies are earmarked for capital replacements. The City’s Cash Reserve Policy <br />102 <br />establishes a target reserve level of 10-25% for this Fund excluding any long-term capital replacement <br />103 <br />needs. <br />104 <br />105 <br />However, the uncertainty of future cable franchise fees related to the upcoming franchise renewal may <br />106 <br />warrant the development of a contingency plan in the event this revenue stream ceases. <br />107 <br />108 <br />Page 5 of 13 <br /> <br />