HomeMy WebLinkAboutFIN-2023-235 - Downtown Kitchener BIA and Belmont BIA 2023 Budgets Referenced in the 2023 Tax Rate By-lawStaff Report
Financia( Services Department www.kitchener.ca
REPORT TO: Committee of the Whole
DATE OF MEETING: May 15, 2023
SUBMITTED BY: Saleh Saleh, Director of Revenue, 519-741-2200 x 7346
PREPARED BY: Faye West, Manager, Taxation & Payment Processing, 519-741-2200 x
7306
WARD(S) INVOLVED: Ward(s) 8 & 10
DATE OF REPORT: May 4, 2023
REPORT NO.: FIN -2023-235
SUBJECT: Downtown Kitchener BIA and Belmont BIA 2023 Budgets
Referenced in the 2023 Tax Rate By-law
RECOMMENDATION:
That the 2023 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.
REPORT HIGHLIGHTS:
This report supports the delivery of core services.
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 2023 Budget was reviewed by the Board on April 10, 2023, and
includes the following:
Levy $ 1,485,000
Other revenue $ 80,000
Expenses $ 1,565,000
(refer to Attachment A — Downtown Kitchener BIA)
The Belmont BIA 2022 Budget was reviewed by the Board on March 28, 2023 and includes the
following:
*** This information is available in accessible formats upon request. ***
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Page 4 of 8
Levy
Other revenue
Expenses
$ 44,822
$ 14,100
$ 58,922
(refer to Attachment B — Belmont Business Improvement Area).
Approving the budget is the last step required to be able to levy taxes on behalf of the BIAs.
STRATEGIC PLAN ALIGNMENT:
This report supports the delivery of core services.
FINANCIAL IMPLICATIONS:
The 2023 BIA levy, once approved, will be used to determine BIA tax rates to be incorporated
into the 2023 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 REPORTS/AUTHORITIES:
There are no previous reports/authorities related to this matter.
APPROVED BY: Jonathan Lautenbach, Chief Financial Officer, Financial Services
ATTACHMENTS:
Attachment A — Downtown Kitchener Business Improvement Area
Attachment B — Belmont Business Improvement Area
Page 5 of 8
"Figures provided by the Belmont BIA May 1, 2023. Deficit will be funded from the accumulated surplus
Page 6 of 8
Appendix B
Belmont
Business Improvement Area
(Belmont BIA)
Budget
Actual
Budget
2022
2022
2023
REVENUE
City of Kitchener BIA Levy
$41,890
$41,890
$44,822
Governance Training
$800
Other Revenue
$35,000
$48,100
$14,100
Total Revenue
$76,890
$90,790
$58,922
EXPENSES
Administration and General
$39,400
$43,768
$39,688
Improvement Projects
$40,300
$38,600
$1,900
Summer Projects
$17,950
Marketing
$8,150
$10,640
$17,334
Total Expenses
$87,850
$93,008
$76,872
Net Revenue (Expenses)
($10,960)
($2,218)
($17,950)
Accumulated Surplus, beginning of year
$63,130
$63,130
$60,912
Accumulated Surplus, end of year
$52,170
$60,912
$42,962
"Figures provided by the Belmont BIA May 1, 2023. Deficit will be funded from the accumulated surplus
Page 6 of 8
Attachment B — Belmont Business Improvement Area
Notes on Belmont BIA 2023
Proposed Budget
RF\IFNIIF
The BIA Levy includes a $2,932 increase over last year's amount and remains the main source of income for
Belmont Village.
The $14,100 Other Revenue is the sale of six benches to various sponsors.
EXPENSES
The $1,900 2023 Budget for Improvement Projects is the remaining budget not spent in 2022.
The $17,950 Summer Project budget will cover the following projects:
Flowers, watering $ 7,100
Summer Money Camp - Kids 2,500
PT Social Media help $20/hr/month 4,200
Labour Day Festivities 1,850
Christmas in the Village 2,300
$ 17,950
With the increase of $9,184 in the marketing expense the BIA is hoping to bring more events to the Village.
As the Belmont BIA is planning on expansion in the near future our plan is to make a more robust and
professional social media and digital presence as one of the incentives to our potential membership.
The balance of the total expenses, $17,950, will come from surplus funds.
"Figures and comments provided by the Belmont BIA May 1, 2023.
Page 7 of 8
Attachment A- Downtown Kitchener Business Improvement Area
Downtown Kitchener BIA
Proposed 2023 Budget (Draft)
2023 Draft Budget
BIA Levy
1,485,000
Grant Funding
10,000
Injection from Surplus
70,000
Total Income
$
1,565,000
EXPENSES
Keeping Downtown Clean & Attractive
Graffiti Removal
15,000
Patio Program
200,000
Horticultural (Contribution to the City of Kitchener)
50,000
DTK Street Squad
10,000
Keeping Downtown Clean (after 5pm wasted removal)
50,000
Total Beautification
$
325,000
Destination Events
Kitchener -Waterloo Oktoberfest
30,000
Kitchener Blues Festival
40,000
City of Kitchener Events
50,000
December Programming
40,000
DTK Hut Repair
10,000
Downtown Dollars
11,000
Community Builder Grant Program
60,000
Marketing and Promotion
170,000
Total Events
$
411,000
Supporting Members through Recovery
NEW Social Media Program
48,000
NEW Enhanced Live Entertainment
90,000
NEW Winter Wonderland Windows with Conestoga College
30,000
Total Recovery
$
168,000
Total Member Relations
$
7,000
Total General & Admin
$
139,000
Total Meetings & Professional Development
$
19,000
Office Move
$
18,000
Total HR Expenses
$
443,000
TOTAL EXPENSES
$
1,530,000
Tax Write Off Reserve $ 35,000
Total Proposed Budget $ 1,565,000
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