Page 226 - CityofWataugaAdoptedBudgetFY24

SPECIAL REVENUE FUNDS
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.

PEG FUND BUDGET SUMMARY

HISTORY PROJECTED YEAR BUDGET %CHANGE
2020-2021 2021-2022 2022-2023 2022-2023 2023-2024 FY2023-2024
Actuals Actuals Budget Projected Proposed VS 2022-2023

Fund Balance, October 1 $44,152 $82,280 $90,630 $86,220 $106,220
Revenues:
PEG Fee 38,057 28,977 35,000 27,000 28,000 -20.0%
Interest Earnings 71 560 1,000 3,000 3,000 200.0%
Transfer from General Fund 0 0 0 0 0 0.0%
Operating Revenues $ 38,128 $ 29,537 $ 36,000 $ 30,000 $ 31,000 -13.9%

Total Available Resources $ 82,280 $ 111,817 $ 126,630 $ 116,220 $ 137,220 8.4%

Expenditures:
Capital Outlay 0 25,597 10,000 10,000 10,000 0.0%
Operating Expenditures 0 25,597 10,000 10,000 10,000 0.0%

TOTAL OPERATING & TRANSFERS $ - $ 25,597 $ 10,000 $ 10,000 $ 10,000 0.0%

Fund Balance, September 30 $82,280 $86,220 $116,630 $106,220 $127,220

CHANGE IN FUND BALANCE $38,128 $3,940 $26,000 $20,000 $21,000

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