Santa Monica City Council
July 9, 2024

Proposed Projected Actuals Proposed
2023/2024 2023/2024 2024/2025
Income
City Funding $150,000 $150,000 $150,000
Facilities ‐ Event Deck Rental $675,000 $920,000 $775,000 Facilities ‐ Film Permits $200,000 $230,000 $250,000
Facilities ‐ Merry Go‐Round Rental $130,000 $86,000 $100,000 Facilities ‐ Corporate Promotions $250,000 $200,000 $250,000 Partnerships $360,000 $180,000 $360,000Food and Beverage Sales $30,000 $10,000 $10,000Licensing and New Revenue (Pier Sign License, Tour Revenue) $25,000 $13,000 $25,000 Registration Fees (Pier 360) $17,000 $15,000 $17,000
Merchandise Sales $15,000 $12,000 $20,000Donations and Grants (Cirque du Soleil grant, Fundraising Gala #1) $60,000 $35,000 $170,000 TOTAL INCOME $1,912,000 $1,851,000 $2,127,000
Expenses
Facilities ‐ City Refund ‐ Merry Go‐Round $60,000 $40,000 $45,000 Facilities ‐ City Refund ‐ Pier Deck $325,000 $360,000 $325,000 Facilities ‐ Event Staffing, Security & Supplies (Tours, Gala coordinator) $45,000 $50,000 $75,000 Facilities ‐ Offisite Storage (3 months for FY2024/25 @ $2k/month est)) $6,000 People ‐ Wages & Salaries $685,000 $630,000 $700,000
People ‐ Benefits (Health Ins, Payroll Tax, Wrkrs Comp, 403b) $190,000 $175,000 $170,000 People ‐Meetings, Office Supplies, Retreat, Training, Website Dev & Maint $40,000 $40,000 $80,000 People ‐ Services, Audit, Insurance, (Consultant) $65,000 $55,000 $55,000 Marketing Creative $12,000 $10,000 $12,000Marketing Promotions, Travel, Marketing Summit, SXSW $23,000 $20,000 $35,000 Pier Produced Programming (Pier 360, Locals' Night, Wellness & Waves, Dia de los Muertos, Holidays, "STP" Play, PRIDE, Fundraising Gala) $430,000 $360,000 $550,000 Merchandise $20,000 $39,000 $10,000Planning Contingency (<3%) $50,000 $30,000 $60,000 TOTAL EXPENSE $1,945,000 $1,809,000 $2,123,000NET INCOME ($33,000) $42,000 $4,000 Santa Monica Pier Corporation Budget 2024/2025