Statement:
This is the AFN Quarterly Report covering April 1 to June 30, 2005. This report's format was developed for FY 2004-05 and this is the fourth in that series. |
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Background:
This report covers AFN's customer counts and financial status for the 4th Quarter of FY 2004-05. The information provided herewith are preliminary numbers for the end of the fiscal year and are unaudited and unadjusted.
All Navigant recommended activities were completed in some form during the year. Results compared to projections based upon the report are:
• Actual Cable TV numbers were 3,170 at the end of June while the target was 3,532.
• Actual Cable modem counts were 3,686 at the end of June as compared to the target of 3,850. |
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AFN Financial Narrative:
The cash balance increased from $564,996 on March 31 to $773,349 on June 30. The large balance is due to the refinancing and subsidy. The cash flow is fairly equal the rest of the year for operating cash in and cash out.
The Debt refinancing was approved by the City Council in FY 2003-04 and the $200,000 subsidy was approved in June 2005. |
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Related City Policies:
Ashland's City Council identified as a goal to improve the performance of AFN. Quarterly reports were identified as one tool in keeping Council current on operations. The format of subsequent reports may change under the direction of the Information Technology Director or based upon work of the AFN Options Committee. |
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Council Options:
Not applicable. |
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Staff Recommendation:
Accept this report. |
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Potential Motions:
Council moves to accept this report. |
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Attachments:
Click on the PDF file link below to view the following attachments:
• AFN Quarterly Report |
