2% increase in tax levies, less write offs - $367,874 Grant from Town of Oakville - $15,000 Sponsorships - $5,000 Event Revenue -$10,000 in beer sales Total Revenue - $397,874 Expense assumptions with 2014 to 2015 Budget to Budget comparisons: 6.4% reduction in Administration 50% reduction in Marketing and Advertising - $18,000 2% reduction in Beautification - Anticipate that $100,000 will be spent in 2015 A $10,000 buffer included for Promotions and Events Repayment of $20,574 to reserves Total Expenses - $397,384 Cathy Duddek Noted that 2015 budget has increased by $30,000. Asked if it is – lumped together with Kerrfest. Mike Confirmed that it is. – Pam Damoff Highlighted that there is confusion about the length of the festival. – Asked if it is 1 or 2 days? Dean MacLean Confirmed that they are preparing the stage early to produce more – revenue. The festival will be in the park for 2 days and 1 day on the street. They previously approved 5 11 pm on Friday and full day on Saturday with a 11:00 pm – close. He anticipates an increase in beer sales on Friday evening. There will be a maximum of 3 bands - $110,000 ($10,000 buffer). Motion by Terry Hutchison That the 2015 Budget be approved Motion seconded by Janis Smith All in favour Motion Carried Board Election Doug Sams presented list. The list was distributed through appropriate channels. All claimed - no vote required - no motion required. Chair’s Report: Dean MacLean
2% increase in tax levies, less write offs - $367,874 Grant from Town of Oakville - $15,000 Sponsorships - $5,000 Event Revenue -$10,000 in beer sales Total Revenue - $397,874 Expense assumptions with 2014 to 2015 Budget to Budget comparisons: 6.4% reduction in Administration 50% reduction in Marketing and Advertising - $18,000 2% reduction in Beautification - Anticipate that $100,000 will be spent in 2015 A $10,000 buffer included for Promotions and Events Repayment of $20,574 to reserves Total Expenses - $397,384 Cathy Duddek – Noted that 2015 budget has increased by $30,000. Asked if it is lumped together with Kerrfest. Mike – Confirmed that it is. Pam Damoff – Highlighted that there is confusion about the length of the festival. Asked if it is 1 or 2 days? Dean MacLean – Confirmed that they are preparing the stage early to produce more revenue. The festival will be in the park for 2 days and 1 day on the street. They previously approved 5 – 11 pm on Friday and full day on Saturday with a 11:00 pm close. He anticipates an increase in beer sales on Friday evening. There will be a maximum of 3 bands - $110,000 ($10,000 buffer). Motion by Terry Hutchison That the 2015 Budget be approved Motion seconded by Janis Smith All in favour Motion Carried Board Election Doug Sams presented list. The list was distributed through appropriate channels. All claimed - no vote required - no motion required. Chair’s Report: Dean MacLean
AGM%20Minutes-Kerr%20Village%20BIA%20April%2028,%202015.docx