Resolution of the Board of Directors of the Corporation for Public Broadcasting
April 27, 2004
Discontinuation of TV Future Fund
Unanimously
WHEREAS,
At its January 27, 2004 meeting, the CPB Board of Directors tasked CPB with development of a plan for Fiscal Year 2005 to return Future Fund dollars to television stations; and
WHEREAS,
Public television stations are experiencing severe financial pressure on their traditional sources of support such as declining membership support, state and local revenues, and underwriting; and
WHEREAS,
CPB accordingly has formulated a proposal to eliminate funding of a TV Future Fund from the Corporation's FY 2005 budget; and
WHEREAS,
A balance of approximately $6 million remains in the TV Future Fund in FY 2004 after certain projects identified as credible and appropriate by CPB and the Future Fund Consultation Panel are funded; and
WHEREAS,
CPB also has recommended that, consistent with the composition of the TV Future Fund, approximately $3 million (one half of such remaining TV Future Fund balance from FY 2004) shall be returned to the stations by adding it to the Community Service Grant pool to be distributed in FY 2005;
NOW, THEREFORE, BE IT RESOLVED,
That the CPB Board of Directors adopts the recommendations of CPB management to add approximately $3 million from the remaining TV Future Fund balance from FY 2004 to the FY 2005 CSG pool and to discontinue the TV Future Fund in FY 2005, in accordance with the FY 2005 budget to be presented at the Board's July 2004 meeting.
