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The Communications Fund is projected to realize an operating deficit in the amount of $166,030 in <br />2015. This is shown in the table below. <br />Communications Fund <br />Revenue <br />Expenditures <br />Surplus (Deficit) <br />2015 2015 <br />Budget Projected <br />$ 448,000 $ 435,460 <br />555,325 601,�91 <br />$ (107,325) $ (166,030) <br />The projected deficit is higher than planned due to additional capital spending associated with security <br />and internet services at the new Park Shelters. It also results from lower-than-expected cable franchise <br />fees. <br />With this operating deficit the Communications Fund's cash reserve level is projected as follows: <br />180% • <br />160% <br />140% <br />120% <br />100% <br />80% <br />60% <br />40% <br />20% <br />0% : <br />Communications Fund Cash Reserve Level <br />88 <br />89 <br />90 <br />2011 2012 2013 2014 2015 2016 <br />Projected Projected <br />� Actual Target: High Target: Low <br />Page 4 of 7 <br />