ARTICLE 14-ESTABLISH CABLE TV REVOLVING FUND
This article requests voters to create a “Cable TV Revolving Fund”. There is no net impact to the Town’s Operating Budget. The $37,111.00 reflects the end of year balance in the existing “Special Revenue Fund and will be used to create the new “Cable TV Revolving Fund”. The revolving fund law allows the governing body to approve expenditures from the fund. The intent of the fund continues to ensure that Cable Franchise fees paid by cable subscribers will be used only for cable related expenses. Tax cost: ($0.00). A YES vote will create a “Cable TV Revolving Fund”. A NO vote will leave “Special Revenue Fund” in place and require voters to approve all RCTV funding each year.
ARTICLE 15-CABLE TV SPECIAL REVENUE FUND
This article requests the withdrawal of $42,180 from the Cable TV Special Revenue Fund (SRF). There is no net impact to the Town’s Operating Budget. This withdrawal is required in the event voters do not approve a previous article creating a “Cable TV Revolving Fund”. It will fund the 2013 Cable TV Operating Budget.(2) If articles 13 & 14 pass then this article will become null and void. Tax cost: ($0.00) A YES vote will authorize the withdrawal of $42,180 from the existing Cable TV Special Revenue Fund to be used for 2014 RCTV operating budget. A NO vote will leave the operation of RCTV unfunded, and will prevent operation of RCTV for the next year.
Why is this there? If articles 13 & 14 do not pass then voters must give their approval to expend funds for the 2014 Operating Budget. The Cable Committee has proposed and the Selectmen have approved a 2014 operating budget of $42,180. Again this will not come from taxes but from the existing fund and franchise fees paid by Comcast in 2014.