Laserfiche WebLink
Page 5 of 13 <br />Communications Fund Summary 91 <br />The following table depicts the 20 13 financial activity for the Communications Fund for the fiscal 92 <br />period ending June 30, 2013 (unaudited). 93 <br /> 94 <br />20132013%% <br />Budget Actual Actual Expect.Diff. <br />Revenues <br />Cable franchise fees373,698 $ 104,051 $ 27.8%27.7%0.1% <br />Interest earnings1,000 - 0.0%0.0%0.0% <br />Total Revenues 374,698 $ 104,051 $ 27.8%27.6%0.1% <br />Expenditures <br />Communications374,698 $ 255,156 $ 68.1%60.2%7.9% <br />Total Expenditures 374,698 $ 255,156 $ 68.1%60.2%7.9% 95 96 <br />Comments: 97 <br />Communications Fund revenues and expend itures are near ex pected levels. 98 <br /> 99 <br />The Communications Fund is current ly in excellent financial condi tion with $591,000 in available cash 100 <br />reserves for operations or capital replacements. This represents 158% of the total operating budget 101 <br />however some of these monies ar e earmarked for capital replacements. The City’s Cash Reserve Policy 102 <br />establishes a target reserve leve l of 10-25% for this Fund excluding any long-term capital replacement 103 <br />needs. 104 <br /> 105 <br />However, the uncertainty of future cable franchise fees related to the upcoming franchise renewal may 106 <br />warrant the development of a contingency plan in the event this revenue stream ceases. 107 <br />108