Page 244 - CityofWataugaAdoptedBudgetFY25

PUBLIC, EDUCATION, GOVERNMENT (PEG) -

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
2021-2022 2022-2023 2023-2024 2023-2024 2024-2025 FY2024-2025
Actual Actual Budget Projected Budget VS 2023-2024

Fund Balance, October 1 $82,280 $86,220 $106,220 $110,434 $134,434
Revenues:
PEG Fee 28,977 24,813 28,000 28,000 24,000 -14.3%
Interest Earnings 560 4,334 3,000 6,000 3,500 16.7%
Transfer from General Fund 0 0 0 0 0 0.0%
Operating Revenues $ 29,537 $ 29,147 $ 31,000 $ 34,000 $ 27,500 -11.3%

Total Available Resources $ 111,817 $ 115,368 $ 137,220 $ 144,434 $ 161,934 18.0%

Expenditures:
Capital Outlay 25,597 4,934 10,000 10,000 10,000 0.0%
Operating Expenditures 25,597 4,934 10,000 10,000 10,000 0.0%

TOTAL OPERATING & TRANSFERS $ 25,597 $ 4,934 $ 10,000 $ 10,000 $ 10,000 0.0%

Fund Balance, September 30 $86,220 $110,434 $127,220 $134,434 $151,934

CHANGE IN FUND BALANCE $3,940 $24,213 $21,000 $24,000 $17,500

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