September 21, 1998

To:Budget Committee

From:City Clerk

Subject:Upper Village (York) Business Improvement Area (BIA) - 1998 Operating Budget

Recommendation:

The Economic Development Committee, at its meeting on September 18, 1998, forwarded a copy of the report (September 2, 1998) from the Chief Financial Officer and Treasurer to the Budget Committee for its information.

The Economic Devleopment reports having adopted the foregoing report, subject to the addition of the following recommendation, and forwarded this matter to Council for consideration at its meeting on October 1, 1998:

"(4)that authority be granted for the introduction of the necessary bill in Council to give effect thereto."

Background:

The Economic Development Committee had before it a report (September 2, 1998) from the Chief Financial Officer and Treasurer, recommending that:

(1)the Economic Development Committee certify to City Council the expenditure estimates of the Upper Village (York) Business Improvement Area for the year 1998 in the amount of $95,000.00;

(2)the expenditure estimates of the above Business Improvement Area be adopted; and

(3)a copy of this report be forwarded to the Budget Committee for its information.

The Committee took the above-noted action.

City Clerk

Christine Archibald/2-7039

Item 20

Att.

September 2, 1998

To:Economic Development Committee

From:Chief Financial Officer and Treasurer

Subject:Upper Village (York) Business Improvement Area (BIA) - 1998 Operating Budget

Purpose:

Approval of Business Improvement Area (BIA) annual budgets is required by Council as per Section 220 of the Municipal Act, as amended by Bill 106.

Source of Funds:

No City funding is required since Business Improvement Area operating budgets are raised by a special levy on members.

Recommendations:

It is recommended that:

(1)the Economic Development Committee certify to City Council the expenditure estimates of the Upper Village (York) Business Improvement Area for the year 1998 in the amount of $95,000;

(2)the expenditure estimates of the above Business Improvement Area be adopted; and

(3)a copy of this report be forwarded to the Budget Committee for its information.

Comments:

The budget approval process for BIA budgets is as follows. Each BIA submits a budget which has been approved by the members and the Board of Management to the BIA Office. As with all agency budgets, the Finance Department reviews the budget and submits it to this committee for recommendation to Council for adoption. Once the budgets have been approved, the funds are raised by the City by a special levy on the commercial and industrial property owners within the bounds of the business improvement area.

The following Business Improvement Area held its meeting on the noted day at which the budget (see Appendix A) was approved:

Approved ByApproved By

BIAMembersBoard of Management

Upper Village (York)August 19, 1998August 19, 1998

The following table adjusts the gross budget to arrive at a net budget for special levying purposes for the Business Improvement Area:

19971998 Budget

Budget Request

Upper Village

Expenditure Estimates 55,00095,000

Miscellaneous Revenue00

BIA's Prior Years

(Surplus)/Deficit 0(40,000)

Net Expenditure Budget55,000 55,000

Appendix B is a list of all the City's Business Improvement Areas which indicates the status of their budget submission. It should be noted that of a total of 39 budgets, the City has not received 8.

Contact Names:

Donald Altman, telephone: 397-4220; fax: 392-6963

Internet e-mail: daltman@city.toronto.on.ca

Ingrid Girdauskas, telephone: 392-1134; fax: 392-1380

Internet e-mail: igirdaus@city.toronto.on.ca

W.A. Liczyk

Chief Financial Officer and Treasurer

Appendix A

Operating Budget of The Upper Village (York) BIA

For The Year 1998

Budget Summary

1997

1997Council1998

ProjectedApprovedBudget

Actual Request Request

$$$

Revenue and Surplus55,012 55,00095,000

Expenditures:

Administration00500

Capital02500088,174

Maintenance5,3425,0001,826

Promotion and Advertising5,69315,0004,000

Contingency 0 7,000 500

Total Expenditures11,03555,00095,000

(GST Included)

(Surplus/Deficit)43,97700

Appendix B

Page 1 of 2

A - Approved by Council - May 13, 1998

B - Approved by Council - June 3, 1998

C - This Report

D - Budget not submitted

E - Approved by Council - July 29, 1998