CPB Board of Directors Acts to Protect Public Broadcasting Stations from the Effects of Rescission
- For Immediate Release on January 27, 2006
In a special telephonic meeting of CPB's Board of Directors today, the Board passed a resolution directing CPB management to adjust the corporation's FY 2006 operating budget to protect public broadcasting stations from the effects of recent legislation rescinding one percent of federal domestic discretionary funds, of which CPB is a recipient.
CPB, through its Community Service Grants (CSGs), is a critical source of funds to public broadcasting stations. The one percent rescission, the largest rescission in recent history, would reduce the amount of all CSGs. Accordingly, it constitutes a significant financial threat to some stations, particularly small and rural stations where CPB's contribution comprises a greater percentage of the station's budget.
Specifically, the resolution directs CPB management to "reallocate $2,830,200 from System Support funds to the Community Service Grant fund to offset the effects of the rescission on public broadcasting stations."
The Board stressed that their authorization of the budget adjustment was an extraordinary step that was being taken to address an extraordinary situation.
The Corporation for Public Broadcasting (CPB), a private, nonprofit corporation created by Congress in 1967, is the steward of the federal government's investment in public broadcasting. It helps support the operations of more than 1,400 locally-owned and -operated public television and radio stations nationwide, and is the largest single source of funding for research, technology, and program development for public radio, television and related online services.