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6 <br />THE CITY OF <br />-' -- ~"""''~'~' ~~ "" CITY COUNCIL AGENDA REPORT <br />PL£~S~4NTONo <br />May 1, 2007 <br />City Manager <br />TITLE: APPROVE FUNDING FOR TV30 COMMUNITY TELEVISION <br />SUMMARY <br />TV30 Community Television operates on an annual budget of $650,000, with several <br />funding sources including production income, donations, underwriting and local <br />government funding. Over the past two fiscal years, the expenses required to operate <br />the station have significantly exceeded the income causing the organization to <br />experience a budget deficit. These expenses are related to increased expenditures in a <br />few key budget categories including professional services, wages and salaries, interest <br />expense, equipment and supplies, and show sets. <br />At this point in the fiscal year, the organization's financial resources have been depleted <br />and the organization is unable to meet estimated operating expenses through the <br />remainder of the fiscal year. With no guaranteed funding sources in place, or identified, <br />to cover the costs of these expenses, the TV30 Board of Directors is requesting that <br />each of the partner cities provide a financial contribution of $65,000 to support the <br />organization. <br />RECOMMENDATION <br />Approve the allocation of $65,000 to TV30 Community Television to support the <br />ongoing operations of the station through the current fiscal year ending June 30, 2007. <br />FINANCIAL STATEMENT <br />If the City Council approves an allocation of $65,000 to TV30 Community Television, <br />there are sufficient funds in the FY 2006-2007 Operating Budget. <br />