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LAKE MINNETONKA CABLE COMMUNICATIONS COMMISSION <br />NOTES TO FTNANrTAT. STATEMENTS (CONTINUEDl <br />FOR THE YEARS ENDED DECEMBER 31. 1989 AND 1988 <br />Revenues <br />The Lake Minnetonka Cable Communications Commission receives an annual <br />franchise fee equivalent to five percent (5X) of all gross revenues <br />collected by Triax Midwest Associates, L.P. for a period of fifteen (15) <br />years from date of inception, May 11, 1984. Revenues for the periods <br />ended December 31, 1989 and 1988 amounted to $43,022 and $88,852 <br />respectively. The annual fee may be subject to renegotiation at anytime <br />after the fourth year of the franchise. If property grantee and city do <br />not agree in negotiation, the franchise shall remain unchanged. <br />Financial Statement Reclassification <br />The Lake Minnetonka Cable Communications Commission has elected to <br />report restricted fund balances separately. For comparability, <br />certain amounts in the 1988 financial statement have been reclassified, <br />where appropriate, to conform with the financial statement presentation <br />used in 1989. <br />- 7 -