2026 Downtown West Orange Alliance Budget Narrative.pdf

3 Executive Director $ 66,950.00 Executive Director Health Ins $ 5,000.00 Social Media Coord/Admin Assist $ 30,900.00 Payroll Fees $ 1,250.00 Employer Payroll Taxes $ 9,000.00 Office Supplies, Fees & Equipment $ 6,000.00 Sub-Total Admin Expense $ 119,100.00 Economic Revitalization (ER) $4,000.00 The Economic Revitalization line item provides targeted funding to support the implementation of the district’s adopted Transformation Strategy, Thrive Local West Orange, which positions Downtown West Orange as an incubator for small and emerging businesses. This allocation supports entrepreneurial development initiatives, including business retention efforts, targeted recruitment, mentorship coordination, storefront activation, and coordinated business support initiatives designed to strengthen local businesses as anchors within the district. The Economic Development team continues to take a proactive, relationship-driven approach to engaging property owners and prospective tenants, identifying retail-ready spaces, and supporting a balanced and sustainable business mix. This funding allows the organization to respond strategically to vacancy trends, support data-driven recruitment efforts, and advance initiatives aimed at fostering business growth and long-term economic revitalization. Professional Services & Insurance $15,400.00 The Professional Services line item reflects expenses associated with regulatory compliance, financial oversight, and risk management. In accordance with the Special Improvement District ordinance, the organization conducted an independent financial audit this year. The cost of audit services has increased in recent years, and this year’s expense reflects current market rates for independent auditing services. In addition to the audit, this category includes Directors & Officers’ (D&O) Insurance, Worker’s Compensation Insurance, and professional accounting services necessary to ensure responsible fiscal management and organizational compliance. These expenditures support transparency, proper financial controls, and continued adherence to municipal and state requirements. Strong financial oversight is also a core component of maintaining national accreditation standards through the National Main Street Center. D&O Insurance $ 1,850.00 Worker’s Compensation $ 550.00 Accounting $ 13,000.00 Total Professional Services & Ins $ 15,400.00