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Town of Chapel Hill Executive Summary |
Meeting Date: 11-24-2008 AGENDA #4b |
Title of Agenda Item: Budget Ordinance Amendment to Appropriate PEG (Public, Education and Government) Funds for Distribution.
Background: On October 15, 2008 the Council authorized the Town Manager to execute a revised performance agreement with The Peoples Channel that among other things, stipulated that the total amount of PEG Subscriber Fee Revenue collected after July 2008 would be allocated to The Peoples Channel. In addition, the Council authorized the Town Manager to distribute Supplemental PEG Support and the PEG Subscriber Fees, accumulated prior to the clarifying legislation, on an equal split between the PEG channels currently supported through cable taxes. Approval of the budget ordinance amendment will appropriate funds for the distribution of the accumulated PEG funds.
Fiscal Note: The PEG Subscriber Fees and Supplemental PEG funds received by the Town must be used to support the certified PEG channels in accordance with the clarifying legislation passed in July of 2008. These funds have been reserved for that purpose in the Town’s fund balance since their receipt.
Staff Recommendation(s): That the Council enact the attached budget ordinance amendment allowing for the distribution of PEG Funds consistent with the allocation plan approved by the Council on October 15, 2008.
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