CATV - CABLE TELEVISION (2)
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CITY OF CLEARWATER
INTERDEPARTMENTAL CORRESPONDENCE
TO:
Jeff Harper, Info. Mgmt. Director.
FROM:
Dan C. Katsiyiannis, Internal Audit Director
COPY:
Cyndie Goudeau, City Clerk
SUBJECT: Time Warner Gross Revenue Report.
DATE:
January 3D, 1996
Time Warner, Inc.'s is required to submit their audited annual financial statements to
our City Clerk Department. For year ending December 31, 1994, Vision Cable of
Pinellas, Inc. submitted their audited annual financial statements to the City Clerk in
April 1995. Like all large companies, Time Warner's independent Certified Public
Accountants require several months to complete their audit work before the company's
audited annual financial statements can be released. It would be prudent for you to
inquire of the Company officials as to when we can expect to receive their audited
annual financial statements.
The Company's quarterly remittance of franchise fees should provide a breakdown (by
type) of gross revenues for Pinellas County and the allocated portion of these revenues
to the City of Clearwater by quarter and preferably year to date. The type or reporting
classifications should be as follows: Basic Cable, Premium, Pay-Per-View, Local and
National Advertising, Leased Access, Installation, Equipment Rental, Equipment Sales,
and Other/Miscellaneous. See the attached Schedule of Gross Revenues for 1994.
This statement should be audited by the company's independent Certified Public
Accountants on an annual basis and submitted to the City along with the Company's
audited annual financial statements.
DKldk
IEeEIVED
JAil 3 1 \996
CITY CLERK DEPT.
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PAUL SCHERER & COMPANY LLP
CERTIFIED PUBLIC ACCOUNTANTS
330 MADISON AVENUE. NEW YORK, NY 10017
TELEPHONE (2121 661-9300
FACSIMILE (2UH 983-1921
Reoort Relating to Gross Revenues
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Independent Auditor's Reoort
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Vision Cable of Pinellas, Inc.
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We have audited the accompanying schedule of gross revenues (as defined in the franchise agreement
between Vision Cable of Pinellas, Inc. and the City of Clearwater) for the year ended December 31,
1994. This schedule is the responsibility of Vision Cable of Pinellas, Inc. management. Our
responsibility is to express an opinion on this schedule based on our audit.
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We conducted our audit in accordance with generally accepted auditing standards. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the schedule
of gross revenues is free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the schedule of gross revenues. An audit also
includes assessing the accounting principles used and significant estimates made by management, as.
well as evaluating the overall schedule presentation. We believe that our audit provides a reasonable
basis for our opinion.
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In our opinion, the schedule of gross revenues referred to above presents fairly, in all material
respects, the gross revenues of the City of Clearwater Division of Vision Cable of Pinellas, Inc. for
the year ended December 31, 1994, as defined in the franchise agreement referred to in the first
paragraph.
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This report is intended solely for the information and use of Vision Cable of Pinellas, Inc. and the
City of Clearwater, and should not be used for any other purpose.
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PaJS~t~LLr
January 24, 1995
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Vision Cable of Pinellas. Inc.
Schedule of Gross Revenues
For the Year Ended December 31. 1994
City of Clearwater
Basic, Cable, Superstation and Preferred
Premium
Pay-Per- View
Advertising
Leased Access
Installation
Equipment Rental
Equipment Sales
$ 7,568,722
2,318,550
347,530
559,612
114,758
270,523
504,079
70.027
Gross Revenues
$11.753.801