Finances

  1. 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.
  2. The budgeted income from levy collection in the first year is £165,566.
  3. The average budgeted annual levy available to be spent by the BID for the term is £169,566.
  4. A contingency provision on expenditure provides for an anticipated surplus of £24799 by the end of the term which equates to 3% of expenditure.
  5. 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.
  6. Operating costs of the BID, are estimated as 14% of total expenditure.
Accessibility & Parking 9% £14,000  
Signage   £4,000
Traffic Updates   £2,000
'Destination Purley' Marketing   £4,000
Office   £4,000
Business Engagement 8% £13,600  
Business Communications    £5,000
Surveys   £3,000
Landlord Engagement   £2,600
Business Promotion   £3,000
Cleaner and Greener 8% £12,600  
Cleaning   £7,000
Greening   £5,600
Image & Marketing  £44,000  
Marketing Material Offline   £12,000
Marketing Manager    £13,000
Online Marketing Costs    £13,000
Adverts    £6,000
Safer Streets  £23,000  
Police   £12,000
Crime Reduction Initiatives    £4,000
Street Pastor    £2,000
Night-Time    £3,000
Training    £2,000
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
Insurance   £1,000
Accounts    £1,000
Calls, Stationary, Audit etc.   £2,000
Contingency £8,800  
Projects    £5000
Non Payments    £3800
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