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Cable commission approves 50% Q4 distributions for general fund and PEG amid revenue decline
Summary
The Sacramento Metropolitan Cable Television Commission voted to cut quarter-four distributions to channel licensees to 50% for both the general fund and PEG funding, citing declining cable-fee revenue, OPEB/pension liabilities and the need to preserve operating reserves for Metro Cable 14.
The Sacramento Metropolitan Cable Television Commission voted to distribute 50% of the planned quarter-four payments to channel licensees for both the general fund and the PEG fund, the body announced after a lengthy budget presentation and public comment on March 3.
Executive Director Sean Ayala presented a detailed budget review showing steady declines in cable-fee revenue and multiple liabilities the commission must address. Ayala said the PEG account currently faces a structural shortfall, estimating “total PEG projects this year were about 3,900,000.0. And in the coming year, I expect to have about 2,200,000.0 in that account,” and warned…
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