RES 98105 - Laserfiche WebLink

and customer surveys, and developing seminars to help our member businesses to become even more successful. Design: The committee includes 3 board members and approximately 7 volunteers. This committee will be involved in recommending planning and design issues to the City. They will be involved in specific plan update, parking, and developing design guidelines. They will also be involved in making recommendations to the City on projects proposed within the downtown. Budget Highlights.: The PDA budget is extremely conservative. While the PDA plans to increase revenue through new events and sponsorship programs, we have not shown anticipated revenues. Income: Assessment revenues are based on the assessments collected from FY 98. Event revenues include the City revenue from the Hometown Holiday Celebration and Concerts in the Park. The Sponsorship revenue from downtown businesses is also listed. Revenues from the Antiques Fair and Heritage Days have been kept at 1998 levels. Conservatively, fundraising revenues are the same as fundraising expenses. The remaining City marketing grant money is included as revenue. The full amount is budgeted as part of the nighttime business promotion expense. The interest income projection is increased over FY 98, however it is still considered conservative. A large portion of the cash balance has been moved into a money market account to receive a higher interest rate. We will determine how much of PDA funds can be maintained in a CD to maximize interest income during this fiscal year. Expenses: The FY 99 budget includes a part-time office assistant budgeted for an average of 15 hours per week. Fundraising will include purchases of promotional items (T-shins, glasses, ornaments, and mini-buildings). Our goal is to maximize revenue opportunities from the current events being sponsored by the PDA. Promotions/Events have been budgeted using actual expenses from existing events. The new events are the nighttime business promotion, which has evolved into the 1st Wednesday Street Party, which was conceptually approved by the City Council. The other new event is a business open house to be held in conjunction with the Hometown Holiday Celebration. The Executive Director salary in FY 99 is $36,000, which represents a $3,000 reduction from the prior year. The director's contract, approved by the PDA Board, includes a 10% commission on new sponsorship revenue generated through the efforts of the director. Since the director is in his first full year on the job, it is not anticipated that much time will be spent on