Downtown Salmon Arm’s finances are looking good, which could mean more signage and decorations for the downtown.
At the end of the year, the downtown organization had $85,000 in the bank. Net assets – the cash as well as capital – were $110,632.
“We’re sitting in a really healthy financial position,” reported Jeff Johnson, treasurer, at the annual general meeting on April 22.
At the beginning of 2013, net assets were $92,601. Added to that was an $18,000 surplus by the end of the year.
Contributing to the surplus was the departure of former manager Joanne Mason, as the full amount budgeted for her salary was not spent.
President Cookie Langenfeld spoke highly of Mason and added how pleased the organization is to now have new manager Lindsay Wong on board.
“We want to thank her for all her contributions while she was with us…,” she said of Mason. “We just loved her.”
Johnson noted the city has directed the organization to spend the surplus.
Director Bill Laird asked why the city is telling Downtown Salmon Arm it has to spend the money.
A levy is collected from downtown businesses by the city and then paid to the organization.
“Can we get the middle man out of it and pay for it ourselves?” he asked.
In response to the question directed at her, Mayor Nancy Cooper said it depends what the bylaw says.
Coun. Chad Eliason, also present, commented.
“If you run a surplus, it means you don’t need it and give it back. So we collect less from the property owners next year,” he said, adding, “It’s not forced. It’s just a formality. If you have excess money, we can take it back and readjust.”
Langenfeld replied: “Oh, we’re going to spend it.”
She later explained that enhanced decoration and signage is where the organization would like to direct the funds.
“We’d like to do more to decorate downtown.”
Other focuses for Downtown Salmon Arm will include building on the Santa town theme that was highlighted in the Vancouver Province last December; furthering tourism and establishing the downtown as the hub of the region; enhancing the restaurant crawl; working on National Aboriginal Day celebrations in June; finalizing a photo contest; working on more graffiti removal and continued lobbying for a downtown parkade.