Highlights from the just received fiscal 2007 “Combining Financial Statement” for the Authority and Foundation:
$15.4 million was received from the State of New Jersey in “General Appropriations and contributed services and facilities”, if all state funding including lottery, Workforce Development, etc are included; the total is likely in the $18-19 million range
$34.5 million in total expenses for the Authority and Foundation (including depreciation)
$19 million in non- direct state revenue (including Workforce Development and Lottery moneys)
$36.9 million is the historic cost (purchase price) of capital assets such as broadcast equipment, towers, etc. This does not include the value of the buildings that NJN occupies which are not owned by NJN nor the value of the broadcast licenses. The FCC licenses are potentially quite valuable.
$4.4 million is the difference between the amount directly contributed by the state in 2007 ($15.4 million) and the amount requested by NJN in annual “transitional funding” for fiscal 2009 through 2012
Membership support fell by $81,000 in ‘07; general corporate underwriting fell by $295,000 in ‘07. NJN was able to offset these losses at leas in part through concerts. However, public broadcasters generally are finding it increasingly difficult to maintain current support levels through membership and corporate underwriting. Broadcasters, both public and commercial are beginning to explore new commercial revenue streams potentially opened up by the digital conversion.
