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 Unionville B.I.A. Operating Budget

 

 

 

 

 

RECOMMENDATION:

 

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

 

AND THAT the 2005 Operating Budget in the amount of $162,705 for the Unionville B.I.A. be approved.

  

 

BACKGROUND:

 

The Unionville Business Improvement Area (B.I.A.) is a geographical area encompassing the Main Street of Unionville.  The association co-ordinates promotion of the businesses within the area.

 

The Unionville B.I.A. has submitted a budget in the amount of $162,705 (Exhibit 1 attached).  For comparison purposes, the Unionville B.I.A.’s 2004 budget was $146,729 (Exhibit 2 attached).

 

Funding of the 2005 operating budget will be as follows: 

·           $141,477 vs. $135,000 in 2004 (an increase of 4.80%) by means of a Special Tax Rate for those Businesses within the Business Improvement Area.  This does not affect the General Tax Rate;

·           $19,396 as surplus from year 2004; and

·           $1,832 as other income.

 

In accordance with a May 27th, 1997 Council resolution the 2005 proposed expenditures for the Unionville B.I.A. include $1,832 as the last installment for debt repayment to the Town of Markham.

 

Expenses budgeted for 2005 by Unionville B.I.A. are:

·        Administration expenses of $26,600, which include general & administration expenses, and expenses relating to flowers/streetscape;

·        Promotion expenses of $78,000, mainly comprised of Music Series, Old time Christmas, Heritage Festival, and other promotional events; and

·        Advertising expenses of $ 51,273, which include Highway Signs, Brochures, Day Tripper, and general advertising expenses. The advertising expenses for 2005 have approximately doubled ($51,273 in 2005 vs. $26,829 in 2004) due to the Unionville B.I.A. Board’s decision to focus on advertising and allocate more funds to advertising in 2005.

 

 

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

 

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

 

 

 

ATTACHMENTS:

 

Exhibit 1 – Unionville Business Improvement Area Proposed 2005 Budget

Exhibit 2 – Unionville Business Improvement Area 2004 Budget

 

 

 

 

 

 

 

Barb Cribbett,

Treasurer

 

Andy Taylor,

Commissioner of Corporate Services