AGENDA CAPTION:
Title
Consider approval of Ordinance 2018-06, on the first of two readings, amending the City’s 2017-2018 Fiscal Year Budget to allocate PEG (Public, Educational And Governmental) Funds in the amount of $60,000.00 for modifications to city facilities and the purchase of equipment to enhance the broadcast of city meetings; and providing an effective date.
Body
Meeting date: 2/20/2018
Department: Finance-Heather Hurlbert, Finance Director
Amount & Source of Funding
Funds Required: 60,000
Account Number: 12025000.60125
Funds Available: 500,000
Account Name: Equipment
Fiscal Note:
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Goal #5 Maintain & Improve City's Infrastructure
Goal #8 Provide efficient & effective delivery of services
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Background Information:
The City collect PEG (Public, Educational, and Governmental) funds from cable companies that provide services in the city limits. These funds are to be used to fund capital expenses to provide or enhance Public, Educational, and Governmental access. The funds cannot be used for operational expenses. The fund currently has a fund balance of approximately $500,000.
When the FY2018 budget was adopted, funds were not allocated for the modification of the conference room for work sessions, purchase of related equipment, and purchase of additional equipment to be used in the production of video and the broadcasting of meetings. Staff is requesting the approval of an amendment to increase the budget $60,000 to appropriate sufficient funds for these expenses.
Council Committee, Board/Commission Action:
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Alternatives:
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Recommendation:
Staff recommends approval of this budget amendment.