By Daily Press staff
Financial growth is expected to be minimal next year for the organization that manages downtown Santa Monica.
Bayside District officials estimate that they will see a 7 percent increase in revenue for 2005-06 — $961,900 compared to $931,786 last fiscal year.
Bayside officials also predict that they will spend all of that revenue this year, leaving a zero balance in 2006, according to the budget. Last year, there was a $57,001 balance. In 2004- 05, Bayside’s total expenditures amounted to $874,785.
Salaries and other personnel costs account for a large portion of next year’s budget — $401,900, a 1.6 percent increase over last year. A slight savings was realized last year in that category because of a staff change and because Bayside’s executive director, Kathleen Rawson, didn’t take a raise.
Administration, which includes rent, general office supplies, telephones, professional services and insurance, accounts for $167,890 in next year’s budget — a 3.2 percent increase over last year.
Business development, which includes costs associated with holding meetings and hiring consultants, is proposed to cost Bayside $46,250. Bayside’s newsletter, the Bayside Beat, will cost $69,000 this year.
Another $99,000 will be spent on holiday events and maintenance, including the costs associated with decor, security and advertising. Two new events will be added to downtown, which will increase Bayside’s community and merchant costs to $10,000. Last year, it was $4,000.
Bayside will spend $75,000 on advertising in local and regional markets, which is a 15.4 percent increase over last year. Bayside also will spend $32,000 on visitor guides and $38,000 on street lighting.
Originally published in the Santa Monica Daily Press print edition on August 1, 2005. Read the original PDF.