A Note from the Chief Financial Officer
Fiscal Year 2003 marked another good year for WHYY on two strategic fronts: WHYY programs and services.
For our FY'03 results, we did better than budget in key strategic areas. Our member revenue was up 6%, again bucking national trends, and giving credence to our overall strategy that puts a priority on membership retention and recruitment. Substantial increases were seen in Home College Service participants, Civic Space events, Ready to Learn Workshops and the Workforce Training audience. We also saw a substantial increase in the number of productions and a 12% increase in awards received. Due to our continued investment in programs and services, we budgeted for a deficit of roughly $3 million-- $2.2 million of which is depreciation.
Our 91FM service continues to enjoy strong listenership with particularly strong audiences for WHYY's productions: Radio Times, Fresh Air, and A Chef's Table, to name a few. We have also begun to leverage our investments in technology. Every Monday, WHYY Webcasts and delivers via our digital television signal, Radio Times and Voices in the Family. During fiscal year 2003, we recorded for TV audiences and multi-media use for the next fiscal year, the Denyce Graves concert, Breaking the Rules, and the Presidential Conversations series. Not only will WHYY present these program for national broadcast, we are also creating unique lesson plans around them.
We thank you for your support and look forward to fiscal year 2004.