Report to: General Committee                                                        Report Date: May 25, 2009

 

 

SUBJECT:                          2009 Markham Village B.I.A. Operating Budget

PREPARED BY:               Andrea Tang, Manager of Financial Planning

 

 

 

RECOMMENDATION:

That the report entitled “2009 Markham Village B.I.A. Operating Budget” dated May 25, 2009 be received;

 

And that the Operating Budget in the amount of $277,219 for the Markham Village B.I.A. be approved;

 

And that the Special Tax Rate levy, in the amount of $202,183, for the Markham Village B.I.A. members be included in the 2009 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

 

 

PURPOSE:

To obtain Council approval on the Markham Village B.I.A. 2009 Operating Budget.

 

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 $277,219 (Exhibit 1 attached).  For comparison purposes, the Markham Village B.I.A.’s 2008 budget was $236,119 (Exhibit 2 attached).

 

Funding of the 2009 Operating Budget will be as follows:

  • $202,183 by means of a Special Tax Rate for those businesses within the Business Improvement Area.  This does not affect the General Tax Rate;
  • $64,518 from sponsorships, promotions, and sales;
  • $7,500 from a Federal government grant for summer students and;
  • $3,018 from the 2008 surplus.

 

Expenses budgeted for 2009 by Markham Village B.I.A. are:

  • Administration expenses of $130,169, which includes payroll, rent including utilities, office supplies, telephone and internet, management fees including audit fees of $1,825, and meeting expenses;
  • Promotion and event related expenses of $69,900;
  • Advertising expenses of $53,050; and
  • Beautification expenses of $24,100.

 

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 2009 levying by-law.

 

OPTIONS/ DISCUSSION:

Not applicable

 

FINANCIAL CONSIDERATIONS AND TEMPLATE: (external link)

Not applicable

 

HUMAN RESOURCES CONSIDERATIONS:

Not applicable

 

ALIGNMENT WITH STRATEGIC PRIORITIES:

Not applicable

 

BUSINESS UNITS CONSULTED AND AFFECTED:

Not applicable

 

 

RECOMMENDED

                            BY:    ________________________          ________________________

                                      Barb Cribbett, Treasurer                     Andy Taylor, Commissioner

                                                                                                of Corporate Services

 

 

 

ATTACHMENTS:

Exhibit 1 – Markham Village Business Improvement Area Proposed 2009 Budget

Exhibit 2 – Markham Village Business Improvement Area 2008 Budget