Resolution of the Board of Directors of the Corporation for Public Broadcasting
July 27, 2004
TV Future Fund Balance
Seven in favor, one absent
WHEREAS,
At its January 27, 2004 meeting, the CPB Board of Directors tasked CPB with the development of a plan to return Future Fund monies to public television stations; and
WHEREAS,
Public television stations are experiencing severe financial pressures on their traditional sources of support such as declining membership support, state and local revenues, and underwriting; and
WHEREAS,
At its April 27, 2004 meeting, the CPB Board of Directors adopted a resolution to return $3 million remaining in the Fund to the FY 2005 station Community Service Grant (CSG) pool after certain projects identified as credible and appropriate by CPB and the Future Fund Consultation Panel were funded; and
WHEREAS,
The House Committee on Energy and Commerce has recommended that CPB consider further actions to optimize the funds that may be made available to assist stations; and
WHEREAS,
CPB has consulted with and has the support of stations and representatives of their membership organizations to its proposal;
NOW, THEREFORE, BE IT RESOLVED,
That the CPB Board of Directors adopts the recommendation of CPB management to return a total of $6 million of the TV Future Fund balance to the FY 2005 and FY 2006 CSG pools.
