On 18 November 2020, the Board held a Membership Budget Meeting to present the proposed 2021 Budget and get feedback from the membership.
After the meeting, the Board felt there were many good suggestions the membership had brought to their attention. The Board took many considerations into account when readjusting the proposed budget based on the feedback from members. These changes included;
- Reduce the spending of the reserve by half, from $30K to $15K
- Reduce the Marketing budget by $2,500
- Reduce the Beautification budget by $3,714
- Remove the Tourism committee and budget
- Adjust the levy cap from $500-1800 to $200-2100, reducing the minimum for smaller businesses while not impacting the overall BIA operations.
On 8 December 2020, the Board met to discuss the revised 2021 Budget and voted unanimously in favour of the 2021 Budget and the adjustment to the levy.
The below copy of the 2021 Budget and the adjusted levy will be presented to the Town Council in January for final approval.