Home made video amplifier question

[knuttz]

I've just constructed the video amplifier circuit found on:  http://www.mameworld.net/pc2jamma/hardware.html (second schematic down) and I have a question.  I tested this with a function generator and o-scope at school and found that it puts about a 3 volt positive DC offset on the output signal.  That is the output signal is the desired ~ 4volts peak to peak but it swings between 1 and 5 volts.  This is with a .7volt p-p (no DC offset) input signal.  I know that this offset has to be there because the circuit operates from 0 to 5 volts.  My question is will this damage my monitor or affect my picture quality at all.  I didn't want to try this before asking about the offset.  Attached is the schematic of the circuit from the pc2jamma page.