FORT LANGLEY BIA

2016 Operating Budget

In 2015, the Fort Langley BIA expanded its commitments from 2014, with a new, significant general advertising during the summer months, its first Food Truck Festival, and increased marketing expenditures for two Bloom Markets. A number of initiatives were delayed an additional year, due to the ongoing delays related to construction of the utilities conversion.

The BIA ended 2015 with an healthy cash reserve of ~$80,000 (TBA), down slightly from the end of 2014. A number of items contemplated for 2015 were not initiated, or were deemed unnecessary or otherwise postponed by the Board, resulting a prior year surplus that continues into 2016.

Therefore, with heathy cash reserves, the BIA expects to operate at a loss within 2016.

Cranberry Festival 2016

Despite some challenging weather for a 2nd year in a row, 2015's Cranberry Festival still drew an estimated 50,000 people to Fort Langley, and was one of the best cranberry festival's ever executed by the BIA.

A number of changes this year resulted in a significant increase in vendor revenue, while cash sponsorship and revenues from cranberry sales also increased. Layout adjustments resulted in a more spacious festival that helped increase revenues overall.

While the Cranberry Festival's costs and revenues have both increased, maintaining a consistent deficit amount, the quality of the festival's washrooms, garbage and recycling, and amenities have all been improved year over year. The Festival continues to be a great event for the BIA, and for Fort Langley as a whole.

OPERATING BUDGET

2016

REVENUE

57,964 94.8%  
500 0.8%  
200 0.3%  
2,500 4.1%  

TOTAL REVENUE

61,164

EXPENSES

4,500 4.5%  
8,500 8.5%  
14,500 14.5%  
11,250 11.2%  
15,000 15.0%  
6,500 6.5%  
4,500 4.5%  
15,000 15.0%  
500 0.5%  
1,500 1.5%  
2,500 2.5%  
500 0.5%  
15,000 15.0%  
500 0.5%  

TOTAL EXPENSES

100,250

NET OPERATING INCOME (LOSS)

(39,086)

CRANBERRY FESTIVAL BUDGET

2016

REVENUE

2,500 4.9%  
14,500 28.4%  
9,500 18.6%  
5,000 9.8%  
19,500 38.2%  

TOTAL REVENUE

51,000

EXPENSES

3,500 5.6%  
500 0.8%  
12,500 20.1%  
7,500 12.0%  
1,000 1.6%  
2,750 4.4%  
8,500 13.7%  
1,500 2.4%  
1,500 2.4%  
750 1.2%  
800 1.3%  
1,200 1.9%  
750 1.2%  
2,500 4.0%  
6,500 10.4%  
4,000 6.4%  
6,500 10.4%  

TOTAL EXPENSES

62,250

NET OPERATING INCOME (LOSS)

(11,250)