In a recent government meeting, the Morristown Partnership presented its proposed budget for 2024, highlighting significant financial growth and strategic initiatives aimed at enhancing the downtown area. The total proposed budget amounts to approximately $2.1 million, with 67% sourced from special assessments and the remainder from sponsorships and event participation.

Executive Director Jennifer outlined the Partnership's achievements in 2023, including a 14.4% increase in event sponsorship revenue and a successful Christmas festival that solidified Morristown as a top holiday destination. The organization also reported a 3.8% increase in sales from its gift certificate program, distributing over $100,000 in certificates to support local businesses.

Key allocations in the 2024 budget include 32% for marketing and promotion, 32% for general administrative operations, and 14% for reserves related to tax appeals and capital operations. Notably, the budget reflects a commitment to maintaining a fixed assessment rate of 10.5%, unchanged since 1994, despite an anticipated revenue increase of approximately $800,000 due to rising property values.

The Partnership plans to invest in infrastructure improvements, including $70,000 for signage and $100,000 for decorative lighting, aimed at enhancing safety and visibility in the community. Additionally, $20,000 is earmarked for new technology to improve data collection and reporting, which will aid in targeted marketing efforts.

During the meeting, council members raised questions regarding the feasibility of the proposed budget and the potential for expanding initiatives. The Partnership reassured attendees that the budget is designed to leverage increased property values without raising the assessment rate, aiming to distribute costs more broadly among additional properties.

The Morristown Partnership is committed to fostering a vibrant business environment and enhancing the quality of life for residents, inviting community feedback through a support survey to refine its strategies moving forward.