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Annual General Meeting
November 16th, 2016 6:00 pm Registration
6:30 pm Meeting City Hall, Council Chambers
AGENDA 6:30 pm Call to Order and Welcome from the Chair Lindsay Walden 6:35 pm Approval of October 2015 AGM Minutes Lindsay Walden 6:40 pm Approval of 2015 Audited Financial Statements Stewart Barclay 6:50 pm Election of Directors Lindsay Walden 7:10 pm Approval of 2017 Budget Linda Jutzi 7:25 pm Other Business Lindsay Walden 7:30 pm Adjournment Lindsay Walden
Downtown Kitchener Business Improvement Area (BIA) 54 Queen Street South
Kitchener, ON, N2G 1V6 Phone 519.744.4921
Website: www.kitchenerdowntown.com
ANNUAL GENERAL MEETING
Wednesday November 16, 2016
6:00 pm Registration
6:30 Meeting
Council Chambers
City Hall
MOTION PACKAGE
Motion: To approve the October 2015 Annual General Meeting minutes
Motion: To approve the 2015 Audited Financial Statements
Motion: To approve the 2017 budget as presented
Motion: To approve Board Directors
Motion: Adjourn the October 2016 AGM
6 pm – 7:30 pm October 29, 2015 Crown Plaza, Kitchener
ANNUAL GENERAL MEETING
Minutes Present: Dawn Phillips-Brown, Lindsay Walden, Stewart Barclay, Mayor Berry Vrbanovic,
Councillor Sarah Marsh, Linda Jutzi, Paul Walman, Darryl Moore, Domini Baldasaro, Zenia
Horton, Members Present: Holly Pinelli, Anita Petsche Good, Tyson Reiser, Ryan Lloyd-Craig,
Kathy Buttan, Ray&Chris Yoe, Nick & Ifeta Sokolovic, David MacLellan, Yari Klieni, David Bratton,
Cory Bluhm, Joe Mancini, Frank Voisin, Jeff Gadway, Brian Bennett, Tina Riddell, Helena
Kwieinsli, Jordan Dolson, Brenda Murray, Nigel Strothard.
Dawn Phillips-Brown in the Chair.
CALL TO ORDER AND WELCOME FROM THE CHAIR
The Chair called the meeting to order at 6:06 pm and introduced to the membership the Board
Directors and BIA staff members in attendance.
GREETINGS FROM THE MAYOR
Mayor Vrbanovic welcomed new members of the BIA, and acknowledge longstanding members.
The Mayor expressed his excitement about the future of downtown Kitchener, and provided an
update on downtown developments, including new businesses, and informed members that City
By-law officers were moving towards a proactive strategy moving forward.
APPROVAL OF 2014 MINUTES
Moved by Stewart Barclay, seconded by Paul Walman
“That the Board approve the October 2014 Annual General Meeting Minutes as
presented.”
Carried Unanimously
2014 AUDITED FINANCIAL STATEMENTS
Stewart Barclay, Treasurer, spoke to the annual audited statements, noting a large reserve due
to being a year of transition between Executive Directors, and informed the membership that
the BIA is planning to carry a $50,000 reserve in future years. The excess reserve from 2014 has
been budget to various 2015 projects.
Moved by Zenia Horton, seconded by Domini Baldasaro
“That the 2014 Audited Financial Statements be approved as presented.”
Carried Unanimously
Moved by Darryl Moore, seconded by Anita Petsche
“That KPMG be appointed as auditor for 2015.”
Carried Unanimously
2016 BUDGET PRESENTATION
Linda Jutzi, Executive Director, spoke to the positive events and beautification improvements
occurring downtown in 2015. Ms. Jutzi informed the membership that the proposed budget was
constructed with the intention of promoting downtown during construction, with an increased
marketing budget while noting that events also play an important role in marketing downtown.
Ms. Jutzi addressed member questions around the new member integration role, noting that the
staff member responsible for member integration would play an important role in make events
and marketing opportunities undertaken by the BIA more accessible.
A member expressed concerns around a decrease in retail options, which can make it difficult to
advertise to residents to shop downtown. The BIA was asked to consider ways to engage
members who do not own computers or have internet access.
A discussion around the cost and size of retail space downtown occurred between members.
Ms. Jutzi informed members that free parking for two hours during the day and after 5pm
should be available to downtown visitors shortly.
Moved by Zenia Horton, seconded by Darryl Moore
“That the proposed 2016 Budget be approved as presented.”
Carried Unanimously
OTHER BUSINESS
The BIA acknowledged the important role Budd’s had played downtown Kitchener for the past
nine decades, and noted that the BIA was working with something to acknowledge the Budd
family prior to the store’s closing.
Ms. Jutzi also thanked Nigel Strothand, owner of Athletic Direct, and who was retiring in the
coming months, for the store’s contributions to downtown.
ADJOURNMENT
Moved by Paul Walman seconded by Darryl Moore
“That the meeting adjourn.” (7:18 pm)
Carried Unanimously
DOWNTOWN KITCHENER BIA
ANNUAL GENERAL MEETING – NOVEMBER 16TH, 2016
TREASURER’S REPORT
Members have been provided with a copy of the Financial Statement and Auditor’s Report for the
period ending December 2015 in the Annual General Meeting package.
The BIA’s audit firm is KPMG – Chartered Professional Accountants, Licensed Public Accountants.
The BIA’s Treasurer is Stewart Barclay who is Finance Partner with Perimeter Development
Corporation and has held the position of Treasurer since joining the Board in April 2014.
There is a Finance Committee in place who reviews the financial statements each month and
provides the full Board a detailed review on a quarterly basis.
Income Statement Highlights
Revenues were approximately $55,000 ahead of budget for 2015.
This increase was primarily driven from a normalization of the slightly higher levy revenues resulting
from the boundary expansion in 2014 as well as higher than anticipated grant income from Heritage
Canada for use towards Canada Day event.
Operating expenses for 2015 were approximately $20,000 higher than the budgeted amount for the
year.
The BIA record expenses against various categories which align with the strategic initiatives of
Beautification, Marketing, Events and Member Relations.
The category identified by KPMG as “Promotions and advertising” group together the costs incurred
in Marketing and Events. For 2015, these particular expenses increased as a result of additional
monies being directed towards initiatives falling under the following banners:
o Spring Marketing Campaign;
o Canada Day;
o Blues;
o Big Music Fest;
o Chits for Charles; and
o Christmas Programming.
Administrative expenses incurred to cover office costs, wages and benefits tracked on budget.
“Meetings and seminar” costs came in over the amount budgeted for the year. Additional costs
were incurred for registration and attendance costs at the International Downtown Association
Conference as well as other increased meeting costs throughout the year.
“Safety and beautification” expenses while showing significantly under budget for the year were in
fact in line once a timing variance on a landscaping invoice from the city is accounted for.
Costs incurred under the “Member relations” category were lower than budgeted primarily as a
result of fewer networking events being held through the second half of the year.
Assessment write-offs amounted to $37,360 for 2015, an increase of $10,000 over 2014. These
write-offs are recorded when the forecast realty tax revenue collected by the city for the year is less
that originally forecast. This primarily results from commercial real estate that became vacant
through the year or by the non-payment of realty taxes by commercial property owners.
Balance Sheet Highlights
The BIA continues to maintain a healthy position as it relates to the organizations Balance Sheet.
The majority of the BIA’s excess cash is invested in short term G.I.C. term deposits.
The biggest change for the BIA in 2015 from a capital standpoint was the purchase of ten event huts.
These have proven a great success being used by local downtown retailers at Chriskindl and other
events through the year.
Excess cash for the year ending 2015, was approximately $143,000.
The Board implemented one risk management measure in 2015 which would ensure the BIA would
have sufficient funds available to cover the increasing assessment write-offs being experienced each
year. As such, the Board agreed to put aside a fund of $50,000 to cover such eventualities and this
shows on the Balance Sheet as “Reserve for rate stabilization”.
Stewart Barclay
Date: November 11th, 2016
List of Board Directors
To be voted in - AGM 2016
Ryan Lloyd Craig
The Berlin Restaurant
Jeff Gadway
Vidyard
Frank Voision
Voisin Capital
List of Nominees for AGM Board
In response to Call for Directors October 2016
Chelsea Cybalski
Owner: The Golden Mean Wellness Shoppe
Andrew Wilding
Capacity Canada
Board – Waterloo Club
Phong Tran
Owner: Matter of Taste
Erika Holenski
Owner: KW Health Connections
Troy Wideman
Owner: 95 King Street West
Meaghan Hawkins
THEMUSEUM
David O’Leary
Owner: Breadheads
2017 BUDGET 2016 BUDGET VARIANCE 2017
to 2016
REVENUE
BIA Levy 1,082,000 1,081,831 169
Grants & Sponsorships 60,000 (60,000)
Miscellaneous 12,000 (12,000)
TOTAL REVENUE 1,082,000$ 1,153,831$ (71,831)$
2016 BUDGET VARIANCE 2017
to 2016
EXPENSES
Streetscape & Beautification
Downtown Clean Team ( Working Centre contract) 80,000 22,000 58,000
Graffiti Removal 8,000 7,000 1,000
Downtown Beautification (includes a Patio program enhancement and flower
planting through the City of Kitchener) 72,000 120,000 (48,000)
Total Streetscape and Beautification 160,000 149,000$ 11,000$
Marketing - Promote existing Business and attract new Business
Spring Marketing Campaign(eliminated 2017 as BIA to establish new priorities
through membership and stakeholder engagement process)38,000 (38,000)
Autumn Marketing Campaign (eliminated 2017 as BIA to establish new priorities
through membership and stakeholder engagement process)20,000 (20,000)
Print Advertising (monthly allowance for print during ION construction to promote
Downtown)50,000 50,000 -
Downtown Magazine - Promotion and Business Attraction (OWN IT Magazine
-focus on attracting traffic during ION construction)30,000 30,000 -
Downtown Dollars (eliminated in 2017 as BIA to establish new priorities through the
membership - Dollars will still be available for purchase)5,000 20,000 (15,000)
Community Sponsorship (Grant program for Event Organizers to cover marketing and
operational costs)78,000 20,000 58,000
ION Construction Marketing (see Print Advertising and magazine) 15,000 25,000 (10,000)
Other Promotions & Sponsorships (eliminated 2017 as BIA to establish new
priorities through membership and stakeholder engagement process)10,000 (10,000)
Total Building Positive Image Downtown 178,000 213,000$ (35,000)$
2017 - Operating Budget
Downtown Kitchener BIA
2016 Budget Presentation Page 1 of 2
2017 BUDGET 2016 BUDGET VARIANCE 2017
to 2016
2017 - Operating Budget
Downtown Kitchener BIA
Events that create a Positive Experience Downtown
Arts and Culture Programming (eliminated 2017 as BIA to establish new priorities
through membership and stakeholder engagement process)24,000 (24,000)
Canada Day Sponsorship 50,000 75,000 (25,000)
Oktoberfest Sponsorship 15,000 10,000 5,000
Blues Sponsorship 35,000 35,000 -
Culinary Events (eliminated 2017 as BIA to establish new priorities through membership
and stakeholder engagement process)30,000 (30,000)
December Programming (Christkindl, Christmas decorating Downtown) 20,000 30,000 (10,000)
City Events (eliminated 2017 as BIA to establish new priorities through membership and
stakeholder engagement process)25,000 (25,000)
Live Music Promotion (music during lunch hour - reduced until membership feedback
process complete)10,000 21,000 (11,000)
Total Building a Positive Experience Downtown 130,000 250,000$ (120,000)$
Member Relations 7,000 15,000$ (8,000)$
General & Admin 98,265 101,925$ (3,660)$
Meetings & Professional Developent 5,000 5,000$ -$
Wages / Benefits 409,735 420,906$ (11,171)$
TOTAL EXPENSES 988,000 1,154,831$ (166,831)$
NET INCOME / (LOSS) BEFORE TRANSFERS 94,000$ (1,000)$ 95,000$
TRANSFER / DESIGNATION FOR RATE STABILIZATION (TAX RESERVE) (34,000)$ $ (34,000) -$
TRANSFER / DESIGNATION TO SHAPE DTK 2020 (60,000)$ -$ (60,000)$
TOTAL UNALOCATED SURPLUS / (LOSS) -$ (35,000)$ 35,000$
2016 Budget Presentation Page 2 of 2
Share your ideas. Get involved.CREATE YOUR DOWNTOWN!
This is you
This is you at the forum This is you shaping your city
6:00-9:00PM AT THEMUSEUM10 KING ST W, KITCHENER
tuesday, january 17th
PROXY FOR GENERAL MATTERS AND THE ELECTION OF DIRECTORS
This form must be completed, signed and presented at the AGM on Wednesday
November 16th, 2016 at Council Chambers, City Hall, Kitchener in order to be valid.
TO: Downtown Kitchener Board of Management Business Improvement Area
1. I am (We are) the registered owner(s) or authorized to act on behalf of the registered owner(s) on
behalf of the mortgagee(s) of:
NAME:
2. I (We) appoint _____________________________, if present, to be a proxy (know as the “Proxy”)
and to attend and vote on my (our) behalf at the meeting of members to be held on Wednesday
November 16th, 2016 and at any adjournment of the meeting (known as the “meeting”)
3. The Proxy may vote on my (our) behalf in respect of all matters that may come before the Meeting,
subject to the instructions set out below, as I (we) could do if personally present at the meeting.
Note: Your Ballot may only be counted for one candidate.
[This provision may be included at the option of the person giving the proxy:]
Dated this ____ day of __________ at ______
________________________________ _________________________________
Signature Print Name
________________________________ _________________________________
Signature Print Name
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