Article 54 - Authorize Expenditures from PEG Access & Cable-Related Fund

ARTICLE 54. To determine whether the Town will appropriate the amount required for the total expenses of the PEG Access and Cable-Related Fund, to be expended during the fiscal year ending June 30, 2026 under the direction of the Town Manager for necessary and expedient cable-related purposes, consistent with the Town’s license agreement with Comcast; or take any other action relative thereto.

Article Explanation

The FY2026 Budget will be submitted by the Town Manager and reviewed at a public hearing of the Finance committee on May 1, 2025. Contract negotiations with Comcast are in their final stages. Currently, the Town currently receives 4.8% of all revenue generated by Comcast from the company’s Concord customers. This article proposes that the revenue from Comcast received during the calendar year 2025 be appropriated, to be used only for cable-related purposes in accordance with the Town’s license agreement. PEG Access services are Public, Educational and Governmental local cable television channels. The fund balance as of July 1, 2024 was $1,704,247.

Article Motion

Mr. Carlson moves that the Town transfer from the PEG Access and Cable-Related Fund the amount of $612,573 to be expended under the direction of the Town Manager for necessary and expedient cable-related purposes consistent with the Comcast licensing agreement during the fiscal year ending June 30, 2026.