8.8 BID BudgetAGENDA SECTION:
NO. 8
ITEM:
NO. 8
CITY OF SALINA
REQUF~T FOR COMMISSION ACTION DATE
5/16/~4
ORIGINATING DEPARTMENT:
Finance
Robert K. Biles
BY:
4:00 P.M.
APPROVED FOR
AGENDA:
Presentation of 1995 budget for Business Improvement District Number 1.
State law requires the Business Improvement District's Board of Directors to
submit a proposed budget to the City Commission by May 15th of each year.
The rate structure for 1995 will be considered this fall.
The Business Improvement District has submitted their budget for 1995. The
details of the $140,330 proposed budget are attached. Nick Slechta$ Executive
Director Business Improvement District, will be in attendance to discuss the
proposed budget.
Recommended action
Receive the 1995 Proposed Budget for Business Improvement District Number 1.
COMMISSION ACTION
MOTION BY SECOND BY :
THAT:
1995 BUDGET
Salina Downtown Inc. and the Business Improvement District No. 1
A Kansas Main Street City
INCOME
~mbership fees
2. B.I.D. Assessment-Organization
3. B.I.D. Assessment-Design
4. B.I.D. Assessment-Maintenance
5. B.I.D. Assessment-Econ. Restruct.
6. B.I.D. Assessment-Promotions
7. Organization Contribution
8. Promotion Contributions
9. Farmers Market Income
10. Gift Certificate Income
11. Interest Income
12. Miscellaneous Income
13. B.I.D. Fund Reduction
14. TOTAL INCOME
1993 1994 1995 Source of Funding
BUDGET BUDGET BUDGET B.I.D. OTHER
11,200.00 11,200.00 11,400.00 11,400
5,658.00 5,600.00 5,700.00 5,700
17,000.00 17,000.00 17,000.00 17,000
22,468.00 22,400.00 22,800.00 22,800
16,800.00 16,800.00 17,100.00 17,100
30,000.00 35,000.00 35,000.00 35,000
17,500.00 9,000.00 26,000.00 26,000
0.00 0.00 0.00
500.00 500.00 0.00
1,230.00 1,500.00 1,500.00 1,500
600.00 600.00 0.00
0.00 0.00 0.00
$122,950.00 119,750.00 136,650.00 ~ ~
ORGANIZATION EXPENSE
15. B.I.D. Expense
16. B.I.D. Uncollectable
17. Subtotal B.I.D. Expense
18. Administrative Expense
19. Dues
20. Newsletter
21. Confs, Meeting Exp., Board Tm.
22. Other Organizational Expense
23. Bad Debt Expense
24. TOTAL ORGANIZATION EXPENSE
1993 1994 1995 Source of Funding
BUDGET BUDGET BUDGET B.I.D. OTHER
$ 1,5--0-U:-~ 1,SU-O'T~ o.oo
4,900.00 2,800.00 6,000.00 6,000
$ 6,400.00 4,300.00 6,000.00 ~
11,010.00 13,300.00 14,460.00 7,130 7,330
250.00 200.00 200.00 200
1,750.00 1,750.00 1,400.00 1,400
3,000.00 3,000.00 2,200.00 2,200
500.00 100.00 300.00 300
0.00 0.00 0.00
$ 26,326.00 23,710.00 24,560.00 ~ 7,-----3-3-0
DESIGN EXPENSE
25. Administrative Expense
26. B.I.D. Maintenance/Public Improv.
27. Design Review Board Expense
28. Other Design Expense
29. TOTAL DESIGN EXPENSE
1993 1994 1995 Source of Funding
BUDGET BUDGET BUDGET B.I.D. OTHER
17,000.00 17,000.00 17,000.00 17,000
$ 1,100.00 1,100.00 200.00 200
5,500.00 0.00 200.00 200
$ 24,005.00 24,750.00 24,640.00 ~ 3~TO
Page 2
1993
ECONOMIC RESTRUCTURING EXPENSE BUDGET
30. Administrative Expense 23,%~-0~-0-6
31. Subscriptions 150.00
32. Downtown Marketing $ 2,500.00
33. Community Education 600.00
34. Farmers Market Expense 1,000.00
35. Other Marketing Expense 500.00
36. TOTAL ECONOMIC RESTR. EXPENSE $ 27,370.00
PROMOTION EXPENSE
37. Administrative Expense
38. Subscriptions
39. Private promotions
40. Generic promotions
41. Office Olympics Expense
42. Christmas
43. Santa Fe Days
44. Community Education
45. Gift Certificate Expense
46. TOTAL PROMOTION EXPENSE
1994 1995 Source of Funding
BUDGET BUDGET B.I.D. OTHER
26,~ 28,~-~ ~ 14,-----,~6~
150.00 200.00 200
3,000.00 2,500.00 2,500
200.00 300.00 300
0.00 1,000.00 1,000
100.00 100.00 100
30,050.00 33,030.00 /-~ !~
1993 1994 1995 Source of Funding
BUDGET BUDGET BUDGET B.I.D. OTHER
17,7--f5~-0~ 19,~[5-0-~-~ 21,=P0-~ ~ 1~-9-~
150.00 150.00 200.00 200
12,000.00 5,000.00 4,000.00 4,000
3,000.00 4,000.00 3,500.00 3,500
0.00 0.00 0.00
7,500.00 7,500.00 23,500.00 2,500 21,000
5,000.00 4,000.00 4,500.00 3,500 1,000
2,000.00 500.00 500.00 500
500.00 200.00 200.00 200
$ 47,865.00 42,800.00 58,100.00 ~ ~
47. TOTAL EXPENSE $122,950.00 119,750.00 140,330.00 I 77,680 t 62,650
$ (3,680.00)
48. EXCESS REVENUE/EXPENSE
Page 3 ',
NOTES ABOUT THE PROPOSED 1995 SDI/BID BUDGET
LINES 18, 25, 30, AND 37 (ADMINISTI~TIVE EXPENSES)
Income/expenses associated with the BID (BID assessment/administrative Expenses, for example) are divided between the four points
of the Main Street approach to downtown revitalization according to the percentages listed below. This breakdown of the SDI/BID
budget began with the 1992 budget according to the priorities defined by the SDI/BID Board of Directors. It continues to be valid
for 1995.
AREA PERCENTAGE
Design 10 percent
Organization 20 percent
Promotions 30 ,percent
Economic Restructuring 40 percent
Each "Administrative Expense" includes the following:
Salaries
Executive Director $33,600.00
Executive Assistant 15,750.00
Payroll Tax 3,600.00
Health Insurance 3,600.00
Travel, Mileage 600.00
Rent & Utilities 5,400.00
Taxes 130.00
Office Expense
Telephone 1,600.00
Postage 2,000.00
Supplies 2,000.00
Copies & Printing 1,000.00
Accounting, Legal & Professional 2,300.00
Insurance 750.00
TOTAL ADMINISTRATIVE EXPENSE $72,330.00
(5 percent increase over '94 revised budget)
(5 percent increase over '94 revised budget)
(Based on the assumption that SDI will occupy the Fox store
fronts or other reasonably priced accommodations in 1995)
The Administrative Expense amounts listed in the "Other" column under the heading, "Source of Funding," is derived from the total
of the Membership Fees (Linel), Organization Contribution (Line 7),and Interest Income(Line 11)(totalling $36,650), divided by the
four percentages as outlined above.
LINE 7
Ye are requesting the city to continue the $35,000 contribution based on inflation, especially in salaries and rent/utility
projections.
LINE 8
----0-~--%he anticipated $35,000 in private promotion contributions, $4,000 will be used for annual promotions; $4,000 will be used for
Christmas;S1,000 will be used for Santa Fe Days '95 and $17,000 for Christmas car give-away.
NOTE 1: Depreciation is not budgeted. At some point in time, consideration should be given to funding depreciation at some level,
even if not at the current depreciation schedule rate. Funding depreciation relieves the strain of fund raising for such items as
st£eet banners and Christmas decoration repracem~nt~
Note 2: The $3,680 projected budget deficit should not create a cash flow shortfall in 1995 based on a projected gain in revenue over
expense in 1994 due to collection of delinquent assessments.