FORT LANGLEY BIA

2015 Operating Budget

In 2015, the Fort Langley BIA continued its efforts to maximize the return on limited revenues. The BIA maintained extremely low overhead, while focusing on a limited number of affordable and achievable work items, items that provide the most significant return for members well into the future, such as Bloom Market.

The BIA ended 2014 with an healthy cash reserve of $84,683, up sightly from 2013.

The continued uncertainty surrounding the utilities conversion project approved in 2012 continued to prevent the BIA from executing alternative expenditures for a 2nd year. Until the streetscape upgrade project is confirmed or cancelled, the BIA continues to have little choice but to maintain cash reserves for a significant advertising campaign during and after its construction.

However, in 2015, the BIA expects to operate at a loss, and expend much of the cash reserves on significant items, such as a pedestrian signage, new visitor maps, and a significant advertising campaign, in any event, whether the utilities conversion proceeds or not.

2015 bloom

Cranberry Festival 2015

Despite some challenging weather in the morning, 2014's Cranberry Festival still drew an estimated 55,000 people to Fort Langley, and was a great success.

2015 cranfest

The BIA continues to incrementally improve the execution of the festival, with improvements in key areas: food vendors, portable washrooms people will actually use, environmentally-responsible recycling, cranberry sales, and entertainment.

For 2015, the BIA expects to further improve the festival's financial execution, with increased vendor fees and sponsorship revenue.

The Cranberry Festival continues to require increasing revenue to keep pace with increasing costs, and the BIA's desire to further improve the quality of the visitor experience.

OPERATING BUDGET

2015

REVENUE

56,275 82.8%  
1,000 1.5%  
200 0.3%  
5,000 7.4%  
2,500 3.7%  
3,000 4.4%  

TOTAL REVENUE

67,975

EXPENSES

4,500 3.1%  
8,500 5.9%  
15,000 10.4%  
12,700 8.8%  
8,500 5.9%  
3,500 2.4%  
65,500 45.5%  
350 0.2%  
500 0.3%  
1,500 1.0%  
2,500 1.7%  
500 0.3%  
12,500 8.7%  
500 0.3%  
7,500 5.2%  

TOTAL EXPENSES

144,050

NET OPERATING INCOME (LOSS)

(76,075)

CRANBERRY FESTIVAL BUDGET

2015

REVENUE

7,500 15.0%  
14,500 29.0%  
6,500 13.0%  
5,000 10.0%  
16,500 33.0%  

TOTAL REVENUE

50,000

EXPENSES

3,500 5.6%  
3,500 5.6%  
200 0.3%  
12,000 19.1%  
8,000 12.8%  
1,200 1.9%  
3,500 5.6%  
11,500 18.3%  
1,500 2.4%  
1,000 1.6%  
750 1.2%  
800 1.3%  
750 1.2%  
500 0.8%  
6,500 10.4%  
4,000 6.4%  
3,500 5.6%  

TOTAL EXPENSES

62,700

NET OPERATING INCOME (LOSS)

(12,700)