- It has been assumed that 97.5% of the billed levy will be collected each year, and this collection rate has been applied throughout the term.
- The budgeted income from levy collection in the first year is £165,566.
- The average budgeted annual levy available to be spent by the BID for the term is £169,566.
- A contingency provision on expenditure provides for an anticipated surplus of £24799 by the end of the term which equates to 3% of expenditure.
- Income in addition to the levy will be generated to assist the BID with achieving its objectives. An agreement in principle has been reached with Croydon Council for a minimum grant support of £4,000 per annum throughout the 5 year term. A key strand of activity will be to utilise the availability of the levy and the activities of the BID to lever in additional income through project support, match-funding and sponsorship.
- Operating costs of the BID, are estimated as 14% of total expenditure.
|Accessibility & Parking 9%||£14,000|
|'Destination Purley' Marketing||£4,000|
|Business Engagement 8%||£13,600|
|Cleaner and Greener 8%||£12,600|
|Image & Marketing||£44,000|
|Marketing Material Offline||£12,000|
|Online Marketing Costs||£13,000|
|Crime Reduction Initiatives||£4,000|
|Visions Resource 14%||£23,000|
|Project Management 1 day / week||£16,000|
|Project Administration 2 days / week||£6,000|
|Core Running Costs||£23,000|
|Core BID Management 1 day / week||£8,000|
|Core Administration 2 days / week||£6,000|
|Loan (First 2 years only)||£5,000|
|Calls, Stationary, Audit etc.||£2,000|
|Estimated Total Income||£161,000|
Excludes incomes from grant initiatives generated by the BID
Includes £10,000 BID loan repayment to be made in years 1 and 2 of term