Page 227 - Watauga FY22-23 Budget

PUBLIC, EDUCATION, GOVERNMENT (PEG) FUND
FUND 24

In accordance with SB 1087, a municipality must set up a separate PEG fund to collect
and account for the public, educational and government (PEG) fee collected through
cable providers. The PEG fee is an additional 1% of gross revenue and can only be
spent on capital items for the local access channel as described by federal law. A

separate fund was established in FY2017-2018 to comply with SB 1087.
This fund is accounted for on the modified accrual basis of accounting. Revenues are
recorded when the liability is incurred.

BUDGET SUMMARY

HISTORY PROJECTED YEAR BUDGET %CHANGE
2019-2020 2020-2021 2021-2022 2021-2022 2022-2023 FY2022-2023
Actuals Actuals Budget Projected Budget VS 2021-2022

Fund Balance, October 1 $45,246 $44,152 $78,652 $82,280 $90,630
Revenues:
PEG Fee 38,403 38,057 30,000 34,000 35,000 16.7%
Interest Earnings 503 71 500 350 1,000 100.0%
Transfer from General Fund 0 0 0 0 0 0.0%
Operating Revenues $ 38,906 $ 38,128 $ 30,500 $ 34,350 $ 36,000 0.0%

Total Available Resources $ 84,152 $ 82,280 $ 109,152 $ 116,630 $ 126,630 16.0%
Expenditures:
Capital Outlay 40,000 0 36,000 26,000 10,000 -72.2%
Operating Expenditures 40,000 0 36,000 26,000 10,000 -72.2%

TOTAL OPERATING & TRANSFERS $ 40,000 $ - $ 36,000 $ 26,000 $ 10,000 -72.2%
Fund Balance, September 30 $44,152 $82,280 $73,152 $90,630 $116,630

CHANGE IN FUND BALANCE ($1,094) $38,128 ($5,500) $8,350 $26,000

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