GENERAL COMMITEE
	TO:	Mayor and Members of Council
	FROM:	Andy Taylor, Commissioner of Corporate Services Barb Cribbett, Treasurer
	PREPARED BY:	Fuwing Wong, Manager of Financial Planning
	DATE OF MEETING:	May 02, 2005
	SUBJECT:	2005 Markham Village B.I.A. Operating Budget

RECOMMENDATION:

THAT THE Report entitled "2005 Markham Village B.I.A. Operating Budget" dated May 02, 2005 be received;

AND THAT the 2005 Operating Budget in the amount of $213,947 for the Markham Village B.I.A. be approved.

BACKGROUND:

The Markham Village Business Improvement Area (B.I.A.) is a geographical area encompassing Main Street of Markham and some adjacent streets. The association co-ordinates promotion of the businesses within the area.

The Markham Village B.I.A. has submitted a budget in the amount of $213,947 (Exhibit 1 attached). For comparison purposes, the Markham Village B.I.A.’s 2004 budget was $208,932 (Exhibit 2 attached).

Funding of the 2005 operating budget will be as follows: 

· $167,595 vs. $162,332 in 2004 (an increase of 3.24%) by means of a Special Tax Rate for those Businesses within the Business Improvement Area. This does not affect the General Tax Rate;

· $4,929 as surplus from year 2004;

· $7,300 from Federal government grant for summer students; and

· $34,123 from promotion, advertising and other activities.

Major expenses budgeted for 2005 by Markham Village B.I.A. are:

· Administration expenses of $145,600, which include salaries & benefits, street security services, and new/additional expenditures of $7,500 for flowers, flags, décor, and winter banners, etc.;

· Promotion related expenses of $27,100 for events including Festival of Lights, Olden Days & Antique Cars, and Markham Village Festival; and

· Advertising expenses of $41,247.

The Board of Management of the Markham Village B.I.A. have reviewed and approved the budget.

The authority to establish this tax rate and to levy taxes for the Markham Village B.I.A. will be included in the 2005 levying by-law.

ATTACHMENTS:

Exhibit 1 –Markham Village Business Improvement Area Proposed 2005 Budget

Exhibit 2 –Markham Village Business Improvement Area 2004 Budget

Barb Cribbett, Treasurer

Andy Taylor, Commissioner of Corporate Services