Report to: General Committee                                                        Report Date: April 23, 2007

 

 

SUBJECT:                          2007 Unionville B.I.A. Operating Budget

PREPARED BY:               Fuwing Wong, Manager of Financial Planning

 

 

 

RECOMMENDATION:

That the report entitled “2007 Unionville B.I.A. Operating Budget” dated April 23, 2007 be received;

 

And that the 2007 Operating Budget in the amount of $198,178 for the Unionville B.I.A. be approved;

 

And that the Special Tax Rate levy, in the amount of $199,500, for the Unionville B.I.A. members be included in the 2007 Tax Levy By-law:

 

And that Staff be authorized and directed to do all things necessary to give effect to this resolution.

 

 

EXECUTIVE SUMMARY:

Not applicable

 

 

FINANCIAL CONSIDERATIONS:

Not applicable

 

1. Purpose                     2. Background                      3. Discussion                        4. Financial        

 

5. Others (Environmental, Accessibility, Engage 21st, Affected Units)             6. Attachment(s)

 

PURPOSE:

To obtain Council approval on the Unionville B.I.A. 2007 Operating Budget.

 

 

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 $198,178 (Exhibit 1 attached).  For comparison purposes, the Unionville B.I.A.’s 2006 budget was $154,500 (Exhibit 2 attached).

 

Funding of the 2007 operating budget, in the amount of $199,500, will be by means of a Special Tax Rate for those businesses within the Business Improvement Area. This does not affect the General Tax Rate.  For budget and tax levy calculation purposes, the $198,178 proposed operating budget is increased by $1,322 to cover the B.I.A.’s 2006 Operating deficit.

 

Major expenses budgeted for 2007 by Unionville B.I.A. are:

-         Promotion expenses of $84,000

-         Advertising expenses of $79,478

-         Flowers, streetscape expenses of $15,000

 

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 2007 levying by-law.

 

 

OPTIONS/ DISCUSSION:

Not applicable

 

ENVIRONMENTAL CONSIDERATIONS:

Not applicable

 

 

ACCESSIBILITY CONSIDERATIONS:

Not applicable

 

 

ENGAGE 21ST CONSIDERATIONS:

Not applicable

 

 

BUSINESS UNITS CONSULTED AND AFFECTED:

Not applicable

 

 

RECOMMENDED

                            BY:    ________________________          ________________________

                                      Barb Cribbett, Treasurer                     Andy Taylor, Commissioner

                                                                                                of Corporate Services

 

 

 

 

ATTACHMENTS:

Exhibit 1 – Unionville Business Improvement Area Proposed 2007 Budget

Exhibit 2 – Unionville Business Improvement Area 2006 Budget