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Kingsburg BID receives budget update; prior‑year balance and upcoming expenses noted
Summary
The city clerk’s office presented the BID’s current revenue and expense picture, reporting a corrected prior‑year ending balance of $33,591.02, projecting roughly $35,000 in BID fees for the year and about $40,000 in expenditures; members flagged additional near‑term costs including Christmas items and potential controller‑box replacement.
At the Dec. 2 meeting the Kingsburg Downtown BID reviewed current revenue and expenditure information from the city clerk’s office and discussed near‑term anticipated costs.
The presenter reported the prior fiscal year ending balance and then corrected the figure in discussion, saying, "The ending balance of last fiscal year, which was June 30, was $28,591.02. So that's what oh, wait. The fiscal year the last fiscal year that ended July 30, it was $33,591.02." The presenter later summarized a projection of $35,000 in BID fees for the current fiscal year (compared with $41,000 last year and $31,000 the year before) and an estimated $40,000 in expenditures.
Board members reviewed an accounts‑payable listing showing about $11,900 in expenses through the reporting period and asked for clarification of the timeframe. The presenter explained that business license renewals are due Jan. 1 and that BID fee income is seasonal, so current figures underrepresent typical annual receipts.
Members raised specific upcoming costs: seasonal decorations and tree lighting expenses were noted, and the presenter said bid staff will likely need one or two replacement controller boxes because the current units were fried. The presenter indicated the expected expense would be for equipment only and not additional labor charges.
A board member asked whether the BID actually has $33,000 available to spend today; the presenter explained some funds are encumbered by expected seasonal expenses and incoming BID fees.
The board asked for continued financial monitoring and will consider budget items (including trolley‑stop signage) during the next budget cycle. The BID’s next regular meeting is scheduled for Jan. 6 at 8 a.m.
