HomeMy WebLinkAboutFIN-2021-30 - Downtown Kitchener BIA and Belmont BIA 2021 Budgets
REPORT TO: COUNCIL
DATE OF MEETING: May 17, 2021
SUBMITTED BY: Saleh Saleh, Director of Revenue, 519-741-2200 x 7346
PREPARED BY: John Sonser, Revenue Analyst, 519-741-2200 x 7954
WARD (S) INVOLVED: Ward(s) 8 & 10
DATE OF REPORT: May 3, 2021
REPORT NO.: FIN-2021-30
SUBJECT: Downtown Kitchener BIA and Belmont BIA 2021 Budgets
Referenced in the 2021 Tax Rate By-law
___________________________________________________________________________
RECOMMENDATION:
That the 2021 Budgets for the Downtown Kitchener Business Improvement Area (BIA)
and the Belmont Business Improvement Area (BIA) be approved pursuant to Section 205
(2) of the Municipal Act, 2001.
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 2021 Budget was reviewed by the Board on April 28, 2021 and
includes the following:
Levy $ 1,379,000
Other revenue $ 265,000
Expenses $ 1,617,298
(refer to Appendix A – Downtown Kitchener BIA)
The Belmont BIA 2021 Budget was reviewed by the Board on April 28, 2021 and includes the
following:
Levy $ 40,670
Other revenue $ 8,500
Expenses $ 39,550
*** This information is available in accessible formats upon request. ***
Please call 519-741-2345 or TTY 1-866-969-9994 for assistance.
(refer to Appendix B – Belmont Business Improvement Area).
The BIAs may adjust their detailed budget allocations based on COVID-19 response priorities
as the year unfolds.
Approving the budget is the last step required to be able to levy taxes on behalf of the BIAs.
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 2021 BIA levy, once approved, will be used to determine BIA tax rates to be incorporated
into the 2021 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.
ACKNOWLEDGED BY: Jonathan Lautenbach, Chief Financial Officer, Financial Services
Appendix A
Figures and comments provided by the Downtown Kitchener BIA April 28, 2021
BudgetActualBudget
202020202021
REVENUES
BIA Levy$ 40,665$ 40,616$ 40,670
Grants - 12,850 8,500
Other Revenue (Events) 7,800 2,336 -
Total Revenue$ 48,465$ 55,802$ 49,170
EXPENSES
Admin & General 33,863 28,155 30,750
Improvement Projects 15,000 1,081 2,000
Marketing 6,000 10,581 6,800
Total Expenses$ 54,863$ 39,817$ 39,550
Net Revenue (Expenses)$ (6,398)$ 15,985$ 9,620
Accumulated Surplus, beginning of year 40,179 39,923 55,908
Accumulated Surplus, end of year$ 33,781$ 55,908$ 65,528
* Figures provided by the Belmont BIA April 28, 2021.
Appendix B
BELMONT BUSINESS IMPROVEMENT AREA
Notes on Belmont BIA 2021
Proposed Budget
REVENUE:
The BIA Levy remains fairly consistent with last year and remains the main source of income for
Belmont Village.
In 2020, the BIA received an $12,850 Digital Main Street Grant, funding to expand the BIA’s
digital footprint. An additional $8,500 is anticipated for 2021.
With the COVID shutdowns, there will be limited fundraising opportunities in 2021. We are
hoping that we can have Christmas in the Village in November but that depends on restrictions.
EXPENSES:
The Administration and General Expense budget includes $5,000 to be paid to the City of
Kitchener at $1,000 a month, starting in May, for help with garbage collection and patio plant
* Figures and comments provided by the Belmont BIA April 28, 2021
watering. This assumes we are allowed to have patios, including $5,000 for flowers and
flowerpots to replace the hanging baskets we used to have.
The reduction of the Administration and General Expense in 2020 is due to the cancellation of
flower baskets and planters and related summer maintenance costs.
The budgeted Streetscape Improvement Project was not undertaken in 2020 due to Covid-19
restrictions.
The Improvement Project for this year is to add to the lighting in the trees and around the
proposed patio area to make it even more welcoming than last year.
The patios were a huge success, and we are hopeful that they will be allowed again this year.
Our marketing expenses are mainly our website expense.