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Kingsburg BID reviews finances and website updates; ending balance and projections noted
Summary
The BID received an informational budget briefing Dec. 2: the reported ending balance for the last fiscal year was $33,591.02, projected BID fees for the current year are about $35,000, estimated expenditures roughly $40,000, and an AP report shows about $11,900 in recorded expenses. A member also read a list of businesses to be added to the BID website.
The Kingsburg Downtown BID heard an informational report Dec. 2 from the city clerk's office on current revenues and expenditures and received a website-update report listing several businesses to be added to the BID site.
The city-clerk presenter said the ending balance for the most recent fiscal year was $33,591.02 and that projected BID fees for the current fiscal year are approximately $35,000 (previous years were about $41,000 and $31,000). Estimated expenditures for the year were noted at roughly $40,000. The presenter cautioned that business-license renewals, which drive BID fees, are due Jan. 1 and that receipts are seasonally concentrated.
Board members raised questions about the AP report, which shows about $11,900 in listed expenses, and noted there are additional outstanding expenditures (the chair estimated about $18,000 of expenditures not shown on the report). The group discussed an upcoming expense for one or two controller boxes (presenter said boxer/controller hardware had failed and replacements may be needed), and members emphasized that large discretionary spending will depend on incoming BID-fee receipts and the budget process.
Separately, a member reported on website updates and read a list of businesses that submitted updates or will be added: Kingsburg First Baptist Church; RPS Real Estate; Kingsburg Media Foundation; Alvarado Bennett Company, CPA; Kingsburg Glass and Door; Loving Seed; Kingsburg Covenant; Something Enchanted and Co.; and Wynn Marketing Agency.
The board did not take any formal fiscal votes at the meeting but asked staff to provide updated expense details and to include potential controller-box purchases in the upcoming budget work.
