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Committee accepts 2500 Block Mission Street BID annual report and recommends clarifications
Summary
OEWD presented its review of the 2500 Block Mission Street Business Improvement District’s 2007–2009 annual reports, finding budgets consistent within 10% variance and that the district met the 5% other‑income requirement; OEWD recommended including in‑kind donations in audits and providing detail on carryover funds.
The committee received OEWD’s annual review of the 2500 Block Mission Street Business Improvement District (BID) for 2007–2009. OEWD summarized its financial review, in coordination with the Controller’s Office, and reported the BID’s budget amounts stayed within a 10% variance year to year and the district met the state requirement to derive at least 5% of revenue from non‑assessment sources (grants and in‑kind donations).
OEWD said the 2500 Block Mission Street BID — the city’s smallest district at 20 parcels — operates on a calendar‑year fiscal schedule with an annual budget of about $75,000. For 2010 OEWD presented a projected assessment revenue of $73,000 and $36,611 in carryover for total available funds of $109,611; the office noted these funds are slated for beautification, cleaning, maintenance and public‑safety related management costs and must be spent in accordance with the management plan. OEWD recommended ensuring in‑kind donations are included in audits and that districts provide detailed plans for spending carryover funds.
The committee opened public comment (none materially opposing), accepted OEWD’s report and moved the resolution forward with the committee’s recommendation.
