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Communications Fund Summary <br />� The following table depicts the 2013 financial activity for the Communications Fund for the fiscal <br />� period ending September 30, 2013 (unaudited). <br />Revenues <br />Cable franchise fees <br />Interest earnings <br />Total Revenues <br />Expenditures <br />Communications <br />Total Expenditures <br />2013 2013 % % <br />Bud�et Actual Actual Expect. Diff. <br />$ 373,698 $ 210,276 56.3% 56.6% -0.3% <br />1,000 - 0.0% 0.0% 0.0% <br />$ 374,698 $ 210,276 56.1% 56.4% -0.3% <br />$ 374,698 $ 325,325 86.8% 762% 10.6% <br />$ 374,698 $ 325,325 86.8% 762% 10.6% <br />Comments: <br />Communications Fund revenues are near expected levels, however expenditures are higher than <br />projected due to the timing of capital improvements made to the City Council Chambers. <br />The Communications Fund is currently in excellent financial condition with $591,000 in available cash <br />reserves for operations or capital replacements. This represents 158% of the total operating budget <br />however some of these monies are earmarked for capital replacements. The City's Cash Reserve Policy <br />establishes a target reserve level of 10-25% for this Fund excluding any long-term capital replacement <br />needs. <br />However, the uncertainty of future cable franchise fees related to the upcoming franchise renewal may <br />warrant the development of a contingency plan in the event this revenue stream ceases. <br />Page 5 of 13 <br />