After a successful event on 12/31/01, in spite of 9/11/01, the first strategic planning session occurred.
- Notes from that meeting are included in your board book but a few highlights include:
- After seeing Rockville cancel its 2001 celebration because the City pulled all the funding (no private money had been used), FNA made the decision to remain a public/private partnership.
- We also knew we had to show the ROI to the City
- We knew we wanted to sell admission badges on-line; whether people showed up or not we got the money.
- We wanted to build reserves to $50,000 to carry us forward. This was equal to that year’s admission badge sales. This reserve would cover expenses if it became necessary because an act of God or war to cancel First Night.
- We discussed a wheel with spokes approach to the footprint. Old Town was the hub and we would expand to other parts of the City as soon as possible with Del Ray being the first likely expansion.
- The First Night Alexandria board early-on saw the wisdom of being a private/public event and to show the ROI to sponsors and the City.
- Although income went up in 2002, expenses were up as well.
- Performer fees were up significantly.
- The management fee was raised to reflect a full year of responsibility.
- Our surplus was only $1500.