Resolution of the Board of Directors of the Corporation for Public Broadcasting
July 27, 2004
FY 2005 Operating Budget
Seven in favor, one absent
That the Board of Directors hereby approves CPB's FY 2005 Operating Budget as reflected in the accompanying document.
Consistent with this resolution, the President and Chief Executive Officer may, from time to time, make reallocations in the line items of the budget not to exceed ten (10) percent of any line item, provided that the Chair approves and the Board is informed in advance of such reallocations through reports from the Corporate Treasurer.
Consistent with the authority delegated above, in the event of federal budget action that affects CPB's FY 2005 appropriation, the President and Chief Executive Officer may adjust the overall budget to comply with such action.