FORT LANGLEY BIA

2014 Operating Budget

2014 hall

Throughout 2014 the Fort Langley BIA will continue its transition to a volunteer-driven association, while attempting to expand its promotional activities, add managed events, and begin other initiatives.

The BIA ended 2013 with an extremely healthy cash reserve of $83,552, up from approximately $40,000 at the end 2012. This healthy cash balance ensures the BIA is able to consider ideas and options that present themselves throughout the year.

2014 will see an increase in general marketing expenditures due to the delay of the utilities conversion streetscape upgrades until at least 2015. It is expected that the BIA will maintain or increase its cash reserve for marketing during that project, and for some additional streetscape upgrades after its completion.

The BIA expects to acquire the Bloom Market and operate it twice within 2014, once in the Spring and once at Christmas. In addition to this, the BIA has plans to create unique experiences to draw people into Fort Langley during the summer months. The BIA will continue to focus the majority of marketing budget to online advertising, especially its Fort Langley Facebook page, which now with 13,250 Likes concentrated mostly within communities south of the Fraser River.

Cranberry Festival 2014

With perfect weather for the 2nd year in a row, professional event management, and a vastly improved and expanded selection of food vendors, the 2013 Cranberry Festival was again our best ever. An estimated 65,000 people came out again in 2013.

2014 volunteer

The Cranberry Festival in 2013 also performed much better financially than anticipated. 2013 saw a long overdue increase in vendor booth fees, which we do not expect to increase again in 2014. With additional concession revenue and stable booth fees vendors can afford, the Cranberry Festival is no longer a financial drain on the BIA as it once was.

While the Cranberry Festival remains dependent upon key sponsorships and a Major Festivals grant from the Township of Langley, we do not expect a significant increase in costs to operate and heavily promote the festival in 2014. The BIA expects to focus on improving the Cranberry Festival's overall quality, activities and entertainment, improved and more interesting shuttle options, and a more streamlined vendor selection, not its financial performance.

The Cranberry Festival remains an amazing event for the BIA, and Fort Langley, and we expect to only make it better in 2014.

OPERATING BUDGET

2014

REVENUE

54,636 89.2%  
0 0.0%  
600 1.0%  
2,500 4.1%  
3,500 5.7%  

TOTAL REVENUE

61,236

EXPENSES

4,000 5.8%  
200 0.3%  
4,500 6.5%  
8,500 12.2%  
5,000 7.2%  
9,500 13.7%  
3,000 4.3%  
25,000 35.9%  
350 0.5%  
500 0.7%  
500 0.7%  
5,000 7.2%  
0 0.0%  
3,500 5.0%  

TOTAL EXPENSES

69,550

NET OPERATING INCOME (LOSS)

(8,314)

CRANBERRY FESTIVAL BUDGET

2014

REVENUE

8,000 18.0%  
12,500 28.1%  
5,000 11.2%  
5,000 11.2%  
14,000 31.5%  

TOTAL REVENUE

44,500

EXPENSES

200 0.4%  
10,000 20.2%  
8,000 16.2%  
1,200 2.4%  
800 1.6%  
12,500 25.3%  
1,500 3.0%  
1,000 2.0%  
750 1.5%  
800 1.6%  
500 1.0%  
500 1.0%  
5,000 10.1%  
4,000 8.1%  
2,750 5.6%  

TOTAL EXPENSES

49,500

NET OPERATING INCOME (LOSS)

(5,000)