FORT LANGLEY BIA

2013 Operating Budget

2013 path

For 2013, the Fort Langley BIA has a number of new initiatives and challenges to prepare for, which are reflected in the operating budget.

The BIA ended 2012 with a healthy cash balance of approximately $40,000. These funds are now tentatively earmarked for advertising and promotion during and after the upcoming utilities conversion to underground wiring along Glover Road and Mavis Avenue. This strong cash balance enables the net operating loss planned for 2013.

Without an Executive Director as of November 2012, and very limited resources for a permanent staff position, 2013 should see the BIA transition to a leaner operation.

It is expected that the BIA office will close, preserving money previously spent on rent, telephone, internet, and office supplies to maintain a permanent office. With a new marketing materials plan taking shape in 2013, the BIA will also be investing in new banners in 2013 and 2014 to replace its aging and outdated inventory. And we also expect to increase our investment in Christmas as well.

Cranberry Festival 2013

With perfect weather, solid event management, and a great mix of food, vendors, and family activities, the 2012 Cranberry Festival was our best ever. An estimated 65,000 people came out, a significant increase from 2012.

2013 cranberries

The Cranberry Festival is a great event for Fort Langley, without question. But as it has grown its costs have increased, while its revenues have not.

Despite what some people in the community seem to believe, the Cranberry Festival is not profitable, and is subsidized by the BIA.

The Cranberry Festival is dependent upon on key sponsorships, and a Major Festivals grant from the Township of Langley. Even if this support continues, which is tentative each year, it is expected that in 2013 the Cranberry Festival will lose at least $7,500, consuming about 12% of our non-festival operating budget.

Many vendors have resisted even minor increases in fees, but these will need to increase somewhat going forward. Some of our food vendors did not report credible gross concession revenue for their percentage rent payments, unfortunately, and some of our local merchants continue to setup conflicting (additional) vending for Cranberry Festival attendees, while not contributing to the festival's costs. Vendor management continues to be a challenge.

Regardless of these challenges, however, the Cranberry Festival, overall, is an exciting and growing success for the Fort Langley BIA. It is an event that Fort Langley and the Township of Langley are lucky to have, and we look forward to another successful event this year.

OPERATING BUDGET

2013

REVENUE

51,500 54.6%  
2,000 2.1%  
31,750 33.7%  
5,500 5.8%  
3,500 3.7%  

TOTAL REVENUE

94,250

EXPENSES

3,350 2.6%  
500 0.4%  
8,000 6.1%  
44,500 34.2%  
7,500 5.8%  
2,750 2.1%  
51,500 39.5%  
500 0.4%  
500 0.4%  
1,500 1.2%  
100 0.1%  
1,500 1.2%  
2,800 2.1%  
600 0.5%  
450 0.3%  
2,000 1.5%  
0 0.0%  
2,200 1.7%  

TOTAL EXPENSES

130,250

NET OPERATING INCOME (LOSS)

(36,000)

CRANBERRY FESTIVAL BUDGET

2013

REVENUE

3,250 10.2%  
12,500 39.4%  
3,000 9.4%  
5,000 15.7%  
8,000 25.2%  

TOTAL REVENUE

31,750

EXPENSES

750 1.7%  
8,500 19.1%  
12,500 28.1%  
1,200 2.7%  
1,250 2.8%  
1,500 3.4%  
5,000 11.2%  
1,000 2.2%  
4,000 9.0%  
2,000 4.5%  
6,800 15.3%  

TOTAL EXPENSES

44,500

NET OPERATING INCOME (LOSS)

(12,750)