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Communications Fund Summary <br />130 <br />The Communications Fund comprises the City’s general communications function including the bi- <br />131 <br />monthly City newsletter, website and social media oversight, and others. It’s primary funding source is <br />132 <br />the cable franchise fee derived from Comcast. <br />133 <br />134 <br />The following table depicts the 2014 financial activity for the Communications Fund for the fiscal <br />135 <br />period ending September 30, 2014 (unaudited). <br />136 <br />137 <br />20142014%% <br />BudgetActualActualExpect.Diff. <br />Revenues <br />Cable franchise fees$ 435,000$ 49.9%56.2%-6.3%216,958 <br />Interest earnings 3,000 0.0%0.0%0.0%- <br />Total Revenues$ 438,000$ 49.5%56.1%-6.5%216,958 <br />Expenditures <br />Communications$ 420,195$ 82.4%80.7%1.8%346,336 <br />Total Expenditures$ 420,195$ 82.4%80.7%1.8%346,336 <br />138 <br />139 <br />Comments: <br />140 <br />Communications Fund revenues and expenditures are near expected levels. <br />141 <br />142 <br />The Communications Fund is currently in excellent financial condition with $584,000 in available cash <br />143 <br />reserves for operations or capital replacements. This represents 139% of the total operating budget <br />144 <br />however some of these monies are earmarked for capital replacements. The City’s Cash Reserve Policy <br />145 <br />establishes a target reserve level of 25% for this Fund excluding any long-term capital replacement <br />146 <br />needs. <br />147 <br />148 <br />However, the uncertainty of future cable franchise fees related to the upcoming franchise renewal may <br />149 <br />warrant the development of a contingency plan in the event this revenue stream ceases. <br />150 <br />151 <br />Page 7 of 14 <br />