Report to: General Committee Report Date: June 23, 2008

SUBJECT: 2008 Unionville B.I.A. Operating Budget

PREPARED BY: Andrea Tang, Manager of Financial Planning

RECOMMENDATION:

That the report entitled “2008 Unionville B.I.A. Operating Budget” dated June 23, 2008 be received;

And that the 2008 Operating Budget in the amount of $205,506 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 2008 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

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. 2008 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 $205,506 (Exhibit 1 attached). For comparison purposes, the Unionville B.I.A.’s 2007 budget was $198,178 (Exhibit 2 attached).

Funding of the 2008 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 $205,506 proposed operating budget is increased by $6,006 due to the B.I.A.’s 2007 Operating surplus.

Major expenses budgeted for 2008 by Unionville B.I.A. are:

- Promotion expenses of $84,000

- Advertising expenses of $86,706

- Flowers, streetscape expenses of $15,000

The 2008 Unionville B.I.A. budget for audit fees is $1,500; however, the contract with the Town’s auditor is set at $1,800, and the Unionville B.I.A. has agreed to manage the shortfall within the 2008 budget of $205,506.

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 2008 levying by-law.

OPTIONS/ DISCUSSION:

Not applicable

FINANCIAL CONSIDERATIONS AND TEMPLATE: (external link)

Not applicable

ENVIRONMENTAL CONSIDERATIONS:

Not applicable

ACCESSIBILITY CONSIDERATIONS:

Not applicable

ENGAGE 21^ST 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 2008 Budget

Exhibit 2 – Unionville Business Improvement Area 2007 Budget