Cabinet Approves Procedures For Using Budget Funds To Create Ukrainian-Language Version Of Euronews In 2010

euronews1The Cabinet of Ministers has approved procedures for using budget funds to finance creation of a Ukrainian-language version of the Euronews 24-hour television channel in 2010.

The Cabinet of Ministers approved the procedures in its resolution No. 1009 dated October 27.

According to the procedures, UAH 1,399,600 (EUR 127,200) is to be used to pay membership contribution, including contribution for financing expenditures related to purchase of foreign currency and payment of bank commission.

UAH 34,081,260 (EUR 3,100) is to be used to finance the preliminary expenditures involving creation of a Ukrainian-language edition of Euronews and obtaining the right to broadcast and distribute the Ukrainian-language version of the television channel on the territory of Ukraine (including UAH 18,469,860 on payment of personnel wages, UAH 15,611,400 on operating expenditures and other expenditures).

The procedures also provide for spending UAH 26,385,500 (EUR 2,400) on preliminary financing of expenditures involving the launching of the Ukrainian-language version of Euronews and beginning its broadcast and distribution on the territory of Ukraine (including UAH 8,135,500 on payment of wages, UAH 18,250,000 on provision of technical and other material resources).

UAH 30,233,400 (EUR 2,750) is to be spent on payment of 50% of the 2011 annual fee for the license to broadcast and distribute the Ukrainian-language version of the television channel on the territory of Ukraine.

In addition, UAH 183,600 is to be used to finance expenditures involving purchase of foreign currency and payment of bank commissions.

The main distributor of the budget funds is the State Television and Radio Broadcasting Committee; the secondary distributor is the National Television Company of Ukraine.

The Cabinet of Ministers resolution also stipulates that the National Television Company is to pay the 2010 membership contribution in accordance with the invoice issued.

When the National Television Company needs to conduct settlements in foreign currency, the State Treasury is to buy foreign currency at the National Bank of Ukraine’s official exchange rate on the date of the operation and include the related expenditures in the expenditures under the relevant budget program.

The budget funds remaining in the account of the distributor as of January 1, 2011, are to be returned to the state budget and the stabilization fund in accordance with the established procedures at the end of a fiscal year.

As Ukrainian News earlier reported, the National Television Company of Ukraine and the Euronews television channel reached agreement on October 21 on creation of a Ukrainian-language version of Euronews and launch its operation in 2011.

On October 11, the Cabinet of Ministers allocated UAH 85.6 million for creation of a Ukrainian-language version of the Euronews television channel.

The Cabinet of Ministers allocated an additional UAH 6.7 million for this purpose on October 25.

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