HomeMy WebLinkAboutFCS-18-030 - Downtown Kitchener BIA and Blemont BIA 2018 Budgets - 2018 Tax Rate By-lawREPORT TO: COUNCIL
DATE OF MEETING: April 16, 2018
SUBMITTED BY: Joyce V. Evans, Deputy City Treasurer, Director of Revenue
519-741-2200 x 7895
PREPARED BY: John Sonser, Revenue Analyst; 519-741-2200 x 7954
WARD(S) INVOLVED: Ward(s) 8 & 10
DATE OF REPORT: April 10, 2018
REPORT NO.: FCS-18-030
SUBJECT:Downtown Kitchener BIA and Belmont BIA 2018 Budgets
Referenced in the 2018 Tax Rate By-law
___________________________________________________________________________
RECOMMENDATION:
That the 2018 Budgets for the Downtown Kitchener BIA and the Belmont BIA be
approved pursuant to Section 205 (2) of the Municipal Act, 2001
EXECUTIVE SUMMARY:
In the past the Business Improvement Area (BIA) proposed budgets were provided to
the City and the levy rates would be approved through the tax rate by-law.
Changing the process to seek a separate approval by Council, improves transparency.
BACKGROUND:
Section 205 (2) of the Act states that the board of management shall submit the budget
to council by the date and in the form required by the municipality and the municipality
may approve it in whole or in part but may not add expenditures to it.
REPORT:
The Downtown Kitchener BIA 2018 Budget Levy Request is $1,279,000, approved by
the Board November 22, 2017 (refer to Appendix A – Downtown Kitchener Business
Improvement Area).
The Belmont BIA 2018 Budget Levy Request is $40,671, approved by the Board March
14, 2018 (refer to Appendix B – Belmont Business Improvement Area).
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ALIGNMENT WITH CITY OF KITCHENER STRATEGIC PLAN:
The recommendation of this report supports the achievement of the city’s strategic
vision through the delivery of core service.
FINANCIAL IMPLICATIONS:
The 2018 BIA levy, once approved, will be used to determine BIA tax rates to be
incorporated into the 2018 tax rate By-law.
COMMUNITY ENGAGEMENT:
INFORM – This report has been posted to the City’s website with the agenda in
advance of the council / committee meeting.
PREVIOUS CONSIDERATION OF THIS MATTER:
Not applicable
ACKNOWLEDGED BY: Jonathan Lautenbach, Chief Financial Officer, Financial
Services
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Appendix A
DOWNTOWN KITCHENER BUSINESS IMPROVEMENT AREA
BudgetProjectedBudget
201720172018
REVENUE
BIA Levy$ 1,082,000$ 1,082,017$ 1,279,000
Other Revenue (Grant/Other) 34,613100,000
Total Revenue
$ 1,082,000$ 1,116,630$ 1,379,000
EXPENSES
Admin & General 562,000 5 77,702567,500
Downtown Improvement Projects250,000
Marketing475,000 4 67,928561,500
Total Expenses
$ 1,037,000$ 1,045,630$ 1,379,000
Net Revenue (Expense)$ 45,000$ 71,000$ -
Accumulated Surplus, beginning of year 145,908 1 45,908216,908
Accumulated Surplus, end of year$ 190,908$ 216,908$ 216,908
*Note: figures provided by the Downtown Kitchener BIA December 22, 2017
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Appendix B
BELMONT BUSINESS IMPROVEMENT AREA
BudgetProjectedBudget
201720172018
REVENUE
BIA Levy$ 40,671$ 40,671$ 40,671
Other Revenue (Events)1,7212,0211,756
Total Revenue
$ 42,392$ 42,692$ 42,426
EXPENSES
Admin & General 33,74328,722 35,478
Improvement Projects44,945 36,9451,945
Marketing4,3873,4905,546
Total Expenses
$ 78,054$ 39,177$ 77,969
Net Revenue (Expense)$ (35,662)$ 3 ,515$ (35,543)
Accumulated Surplus,beginning of year 36,50440,186 40,019
Accumulated Surplus,end of year$ 40,0194,524$$ 4 ,476
*Note: figures provided by the Belmont BIA November 24, 2017
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