HPR optimistic about growth in FY 2018

Jul 26, 2017

Hawaiʻi Public Radio’s Board of Directors capped their first meeting of the fiscal year on July 24 by approving a 2017-2018 budget showing revenue of $5.49 million. This is an increase of 1.8 percent over the station’s fiscal year 2017’s projected year-end revenue. HPR, a 35-year-old independent nonprofit, generates 94 percent of its support from local individuals, families, businesses, and foundations. Station membership now totals a record 13,900 individual donors, 45 percent of whom participate in the monthly payment plan called "Sustaining Membership."
 
HPR President and General Manager José A. Fajardo states, “Our revenue projections for this coming year are a reflection of our confidence in our community and our product. As certain as we are of our loyal supporters, we admit to some uncertainty about future federal funding, We have chosen, therefore, to be proactive and built into the budget a 25 percent reduction in our annual CPB (Corporation for Public Broadcasting) grant. Should the station instead be fully funded, the approximately $100,000 would then be a welcome ‘windfall’.”
 
Expenses for the coming year are anticipated at $5.26 million, an increase of 6.5 percent over the previous year’s. Among the added costs for the coming year is the investment in two new full-time staff positions, plus increased programming costs, a direct result of listenership growth and revenue increases.

Haleakala transmitter
Credit Don Mussell

Fajardo notes, “Exceeding revenue goals and careful management of station expenses in FY 2017, allows us to grow expenses more than revenues in this coming year, while still maintaining a balanced budget. Meeting our targets will provide us with a nearly $200,000 surplus that will cover anticipated capital expenditures and improvements. We are proud to report that the relocation of our broadcast facility in East Hawaiʻi has  already resulted in energy savings and more are expected once our transmitter on Haleakalā is fully configured.”
 
At the July 24th meeting of HPR’s Board, a new slate of officers was installed, with attorney Kenneth S. Robbins replacing Dr. Tyrie Jenkins as chair. Barbara A. Hastings, a communications strategist and Hawaiʻi island resident, stepped into the vice chair position. Attorney Dawn Suyenaga was elected to secretary and Howard M. Higa, president of TheCAB, continues as treasurer. New Board members Dr. Alan Britten and Francis S. Oda, chairman of architectural firm G70, attended their first meeting, as did HPR News Director Bill Dorman, who has been promoted to vice president.

For a complete list of HPR Directors and meeting dates, see hawaiipublicradio.org/hpr-board-directors.

Read original press release here.