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Resolution of the Board of Directors of the Corporation for Public Broadcasting
July 18, 2006

Approval of the FY 2007 Operating Budget for the Corporation for Public Broadcasting

5 in favor, 1 absent

RESOLVED,

That the Board of Directors hereby approves the attached FY 2007 Operating Budget for the Corporation for Public Broadcasting.

RESOLVED,

Consistent with this resolution, the President and Chief Executive Officer may, from time to time, make reallocations in the line items of the budget not to exceed ten (10) percent of any line item, provided that such changes are consistent with statutory allocations contained in the Public Broadcasting Act and further provided that the Chair approves and the Board is informed in advance of such reallocations through reports from the Chief Financial Officer and Treasurer.

RESOLVED,

Consistent with the authority delegated above, in the event of federal budget action that affects CPB's FY 2007 appropriation, the President and Chief Executive Officer may adjust the overall budget to comply with such action.

FURTHER RESOLVED,

The Board also endorses the accompanying set of strategic priorities as outlined in Appendix I and the business plan activities listed under these priorities as presented in Appendix II. CPB management will report to the Board of Directors periodically as to the progress made against the CPB Business Plan which the President and Chief Executive Officer may modify as circumstances warrant.