DLBA Board Approves Budget for Fiscal Year 2020-21
On August 19, the Downtown Long Beach Alliance Board of Directors approved the organization’s Fiscal Year 2020-21 budget, beginning October 1, 2020.
In its budgeting process, DLBA staff takes into consideration ongoing and new initiatives that meet the criteria of the organization’s Strategic Plan, Vision 2020, and provide well-researched estimates for these efforts by each department, balanced against revenue streams. The revenues include fees collected through two assessment districts. The Property Based Improvement District (PBID) collects funds from commercial and residential property owners from within its boundaries, and from businesses within the Downtown Parking Improvement Area (DPIA). DLBA also receives partial revenue from Downtown parking meters, contract services, sponsorships, and grant funding.
DLBA’s workplan and initiatives are described in its Annual Budget Narrative, which provides information about the role of each department and its staff, ongoing and planned projects, and duties to stakeholders.
The budgeting process typically begins in March with staff conducting its due diligence from a variety of resources including surveys, focus groups, Board and committee meetings and internal deliberations. Presentations are made to each department’s committees before channeling the proposed budget to the Finance Committee, then to the Executive Committee for 30-days, and then to the Board of Directors. Each committee has the opportunity to make suggested changes and recommendations before the Board ultimately authorizes its approval.
Following Board approval, the budget is sent to the Long Beach City Council for consideration and ratification. The Council is expected to vote on the FY 20-21 budget in late October or early November.
“DLBA’s $4.29 million budget for FY 20-21 takes into consideration the uncertainties caused by COVID-19, accounts for an increase in the State’s minimum wage slated for January, and, as always, prioritizes the needs of our stakeholders,” said DLBA President & CEO Kraig Kojian. “While we expect our funding sources to continue to be impacted by the pandemic, we also anticipate some federal aid and grant funding could make up for some of the difference. Regardless, I am confident that DLBA will continue to provide Downtown stakeholders with the valuable services they have come to rely upon and appreciate.”
DLBA’s expenses are categorized by the following departments/services: General Administration; Research, Development & Advocacy (policy advocacy); Economic Development (business recruitment, retention and education); Marketing & Communications (advertising and promotions, stakeholder outreach and public relations, informational tools and communications), Placemaking (beautification projects and public space activation); Operations (clean and safe efforts); and Special Events (DLBA produced events).