Lowry Hill East (Wedge) Neighborhood Association board members are reassessing bankrolling the Wedge newspaper, a monthly neighborhood publication.
The paper features news, arts and entertainment information, LHENA board meeting summaries and articles submitted by City Council representatives and local business interests. However, the much-beloved paper has continuously lost money.
LHENA’s Accountant Adrianne Hamilton Butler explained at the July board meeting that the paper — which also sells ads — has been short by nearly $400 per month or approximately $2,190.56 so far this year. That figure is expected to double by next January.
The board has traditionally dipped into LHENA’s savings to keep the paper afloat. However, Hamilton Butler said the paper’s losses have cut those savings from $18,000 to $6,000, prompting board action.
Said Board President John Dietrich, "We’ve been whittling down the CDs [certificates of deposit], and we don’t have room to whittle anymore."
Rising production costs, a slump in volunteer participation and low ad sales also hurt the bottom line, board members said.
LHENA is forming a subcommittee to discuss options to save the paper. You can comment to [email protected] or by calling 377-5023 or 377-5467 (fax line).