1999 Business Improvement Area

Budgets Supplementary Report No. 4:

Forest Hill Village Business Improvement Area

The Economic Development and Parks Committee recommends the adoption of the following report (August 26, 1999) from the Chief Financial Officer and Treasurer:

Purpose:

This report brings forward the proposed 1999 Operating Budget for the Forest Hill Village Business Improvement Area (BIA) for Council's approval. Council approval of this budget is required by the Municipal Act to permit the City to collect funds on behalf of the BIA through a special tax levy.

Source of Funds:

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

Recommendations:

It is recommended that:

(1)the Economic Development and Parks Committee adopt and certify to City Council the 1999 expenditures of the Forest Hill Village Business Improvement Area of $22,000.00;

(2)a copy of this report be forwarded to the Policy and Finance Committee for its information; and

(3)the appropriate City officials be authorized and directed to take the necessary action to give effect thereto.

Forest Hill Village BIA Budget:

The Forest Hill Village Business Improvement Area's 1999 budget proposes to maintain their budget at the level approved in 1998. This budget was approved by the BIA's Board of Management and general membership at meetings held on May 15, 1999. The Forest Hill Village BIA's proposed 1999 budget, including the net 1999 levy requirement, is set out below.

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     Forest Hill Village BIA Budget Summary

Appendix "A" sets out the status of BIA budget submissions.

Contact Name:

Mr. Joe Borowiec, Budget Services Division, Finance Department, 397-4298.

Appendix "A"