An ordinance amending section 6.08.070.1C(c) of the Metropolitan Code of Laws regarding requirements for an annual financial report submitted by grantees of cable television franchises.

WHEREAS, section 6.08.070.1C(c) of the Metropolitan Code of Laws requires grantees of cable television franchises to submit an annual audited financial statement of gross revenues and expenses; and

WHEREAS, upon review by the Division of Internal Audit and Information Technology Services it has been determined that the Metropolitan Government does not need an audited financial statement and that a financial report supported by an opinion of an independent certified public accountant is sufficient for the Metropolitan Government; and

WHEREAS, at a meeting on November 18, 2003 the CATV Special Committee unanimously approved a motion to amend section 6.08.070.1C(c) of the Metropolitan Code of Laws as provided herein.

NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That the provisions of section 6.08.070.1.C(c) of the Metropolitan Code of Laws be deleted in their entirety and the following inserted in place thereof:

An annual Statement of Gross Revenues and Franchise Fee as defined elsewhere in this chapter in the form illustrated herein prepared by its Chief Financial Officer and certified by its Chief Financial Officer and Chief Operating Officer to be in accordance with this section and to be true, correct and complete.

The Statement of Gross Revenues and Franchise fee must be examined by an Independent Certified Public Accountant (CPA) approved by the Finance Director of The Metropolitan Government of Nashville and Davidson County. The CPA will prepare a report giving an opinion on the Statement of Gross Revenues and Franchise Fee. The CPA’s opinion must be generally in the form illustrated below and specifically state that the Statement reflects Gross Revenues and Franchise Fee calculated in conformity with this section.

(i) Statement of Gross Revenues and Franchise Fee
For the Fiscal Year Ended ________________

In accordance with Ordinance No. __________ dated ______________ (hereinafter Franchise Agreement) I/we have prepared the following Statement of Gross Revenues and Franchise Fee for the fiscal year ended ________________.

Gross Revenue $$$$$

Franchise Fee Rate %

Franchise Fee Due $$$$$

I certify that the information contained in this Statement of Gross Revenues and Franchise Fee is in accordance with the Franchise Agreement and is true, correct and complete to the best of my knowledge.

_________________________ _______________________
Chief Financial Officer Chief Operating Officer

Date: ___________________

(ii) INDEPENDENT ACCOUNTANT’S REPORT

We have examined the accompanying (Franchisee) Cable Statement of Gross Revenues and Franchise Fee for the year beginning ___________ and ending __________ which will be provided to the Director of Finance of The Metropolitan Government of Nashville and Davidson County, Tennessee. (Franchisee) management is responsible for the Statement of Gross Revenue and Franchise Fee. Our responsibility is to express an opinion based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting the (Franchisee) Statement of Gross Revenues and Franchise Fee and performing such other procedures, as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion.

In our opinion, the Statement of Gross Receipts and Franchisee Fee for the year ending ____________ referred to above, presents, in all material respects, the calculation of the Gross Revenues and Franchise Fee for the year in conformity with section 6.08.070 of the Metropolitan Code of Laws.

Section 2. That this ordinance shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Brenda Gilmore, Jim Shulman

AMENDMENT NO. 1
TO
ORDINANCE NO. BL2004-157

Mr. President:

I move to amend Ordinance No. BL2004-157 by deleting the section number “6.08.070.1.C(c)”, wherein it appears in the caption, in the first recital clause, and in Section 1, and substituting in lieu thereof the section number “6.08.070.C.1(c)”.

Sponsored by: Brenda Gilmore

LEGISLATIVE HISTORY
Introduced:	February 3, 2004
Passed First Reading:	February 3, 2004
Referred to:	Budget & Finance Committee
Amended:	February 17, 2004
Passed Second Reading:	February 17, 2004
Passed Third Reading:	March 16, 2004
Approved:	March 22, 2004
By: