Strong community support combined with careful fiscal management has enabled SOPTV to meet its obligations and keep pace with the rapidly evolving media environment. We closed out our 2013 fiscal year last June 30 and recently completed our annual audit. Our program services are supported by three primary sources: viewers like you, local businesses, and federal Community Service Grants from the Corporation for Public Broadcasting (CPB). SOPTV also seeks grants from area foundations and support from individuals and local businesses to help fund our local programs. Local production is very expensive when compared to the cost of licensing programs as part of the PBS “group buy.” But it’s the local programming that reflects the character of our region and makes SOPTV more responsive to you and the community.
|INCOME SOURCES||FY ’13||FY ’12|
|Community Service Grants from CPB||695,673||723,377|
|Local Business Support||202,873||189,342|
|In-Kind & Donated Services||60,459||119,117|
|Production & Capital Equipment Grants||124,192||418,971|
|Programming Services & Production||$796,170||$1,134,898|
|Support & General Services||914,591||754,106|
|Total Expenses with Depreciation||$1,928,351||$2,089,389|
|Less Equipment Depreciation||$206,251||$199,254|
|Earnings Before Interest Taxes Depreciation & Amortization (EBITDA)||$73,453||$229,984|
While our overall results didn’t match FY 2012’s performance, we did increase our individual and business support, which offset the reduction of federal support due to sequestration. We also experienced an increase in contract labor and made technical investments to improve our service to you. Based on these factors we were unable to fully cover our depreciation. Only 10% of public television stations can finance their depreciation. We were able to do so in FY 2012, but we could only do a share in 2013. Broadcasting is very capital intensive and equipment replacement is looming in our future because our digital master control equipment is 11 years old. Complicating matters there is no longer a federal funding source for equipment replacement.
Looking ahead, with your help and support from others who treasure programming on SOPTV, we will continue to be the one station in a sea of channels that has television worth watching. Thank you for the work we do together.
President & CEO