The Federal Communications Commission is an independent agency of the United States government, created by Congressional statute to regulate interstate communications by radio, television, wire, satellite, and cable in all 50 states, the District of Columbia and U.S. territories. The FCC works towards six goals in the areas of broadband, competition, the spectrum, the media, public safety and homeland security. The Commission is also in the process of modernizing itself. The FCC was formed by the Communications Act of 1934 to replace the radio regulation functions of the Federal Radio Commission. The FCC took over wire communication regulation from the Interstate Commerce Commission. The FCC's mandated jurisdiction covers the 50 states, the District of Columbia, and U.S. possessions. The FCC also provides varied degrees of cooperation, oversight, and leadership for similar communications bodies in other countries of North America. The FCC is funded entirely by regulatory fees. It has an estimated fiscal-2011 budget of US$335.8 million and a proposed fiscal-2012 budget of $354.2 million. It has 1,898 federal employees.