Resolution of the Board of Directors of the Corporation for Public Broadcasting
September 27, 1994
FY 1995 Operating Budget Amendment
Unanimously
WHEREAS,
Congress rescinded funds in the FY 1995 Labor, Health and Human Services and Education Appropriation, including $7 million of CPB's appropriation;
WHEREAS,
This rescission will reduce the amounts of the Community Service Grants the public broadcasting stations were expecting to receive from CPB for FY 1995.
NOW, THEREFORE, BE IT RESOLVED,
In support of the community of public broadcasting stations, the Board directs management to reduce its administrative budget by an amount similar to the rescission percentage and further directs management to reallocate that amount to educational programs;
BE IT FURTHER RESOLVED,
That the Board of Directors hereby approves CPB's amended FY 1995 Operating Budget as reflected in the accompanying table dated September 27, 1994.
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 the Board is informed in advance of such reallocations through reports from the Corporate Treasurer.