RES 98105 - Laserfiche WebLink

new sponsorship. Therefore, the budget does not include additional sponsorship revenue for FY 99 and no corresponding commission (salary) expense. Banners include 4 put-ups and take-downs. The budget does not include the purchase of any new banners. Insurance includes: general liability, liquor liability, a special policy for cruise night, and Board of Director's liability. Dues and subscriptions include the California Downtown Association, Pleasanton Chamber of Commerce, National and California Main Street programs. Marketing is focused on getting the word out about the PDA and downtown Pleasanton in general. A four-fold brochure is in development, and we are negotiating for a complete membership direc,tory. The newsletter will move to semi-monthly, and will begin reaching wider distribution. Room has been left for opportunities such as the visitors guide which was recently accomplished by the CVB, and the upcoming technology showcase being sponsored by the Chamber and the City of Pleasanton. The remaining budgeted items are general office expenses which are based on FY 98 actual costs. Beginning and Ending Balances: The beginning cash balance for FY 99 is approximately $81,150. This includes a CD for $11,150 designated as a reserve, which matures in October 1999. The PDA plans to increase the reserve balance to $20,000 during FY 99. Although the current budget shows an operating deficit of $26,982, this is not unexpected. The City of Pleasanton has been contributing $50,000 per year for the past two years as a grant for marketing and advertising. The budget for 1999 does not include grant funding, therefore the PDA must now be self sufficient. Cash balances are being used this year to continue the marketing and promotion of the downtown begun with the City grants. This program will ensure the PDA remains self sufficient, by generating the additional revenues necessary to balance the budget and maintain an adequate reserve.