Page 141 - CITY OF WATAUGA, TEXAS ANNUAL BUDGET PORTRAIT

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
2022-2023 2023-2024 2024-2025 2024-2025 2025-2026 FY2025-2026
Actual Actual Budget Projected Budget VS 2024-2025

Fund Balance, October 1 $86,220 $110,434 $134,434 $136,527 $156,027
Revenues:
PEG Fee 24,813 20,098 24,000 24,000 20,000 -16.7%
Interest Earnings 4,334 5,995 3,500 5,500 3,500 0.0%
Transfer from General Fund 0 0 0 0 0
Operating Revenues $ 29,147 $ 26,093 $ 27,500 $ 29,500 $ 23,500 -14.5%

Total Available Resources $ 115,368 $ 136,527 $ 161,934 $ 166,027 $ 179,527 10.9%
Expenditures:
Capital Outlay 4,934 0 10,000 10,000 10,000 0.0%
Operating Expenditures 4,934 0 10,000 10,000 10,000 0.0%

TOTAL OPERATING & TRANSFERS $ 4,934 $ - $ 10,000 $ 10,000 $ 10,000 0.0%
Fund Balance, September 30 $110,434 $136,527 $151,934 $156,027 $169,527

CHANGE IN FUND BALANCE $24,213 $26,093 $17,500 $19,500 $13,500

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