Chamber budget tops $300,000

Summerland Chamber of Commerce require more than $300,000 in 2014.

The Summerland Chamber of Commerce will require more than $300,000 to provide its services as the voice of Summerland’s business community in 2014.

On March 11, the chamber’s budget was presented at the annual general meeting. This year, the chamber expects to receive $301,575.

The biggest portion of this will come from the municipality in the form of a $200,000 grant in aid. The grant in aid funding is unchanged from previous years. Provincial grants of $29,675 are anticipated. In 2013, provincial grants came to $24,570. Sales and function revenue are expected to bring an additional $57,500, down slightly from the $58,904 received in 2012. Rental income is forecast at $6,400, twice the amount received in 2013. The telephone directory is expected to bring in $8,000, down from $14,051 in 2013.

In addition, the chamber received a Goods and Services Tax rebate of $22,031 last year. The rebate covers 2010 to 2012. A GST rebate is not anticipated for this year.

Total expenses for the year are forecast at $320,175, resulting in a loss of $18,600. The biggest expense for the chamber will be wages and benefits, at $167,885, up from $164,029 last year. Advertising and promotional expenses of $41,650 are anticipated this year, a five per cent increase over the $39,701 spent in this area in 2013. Events are expected at $33,700, close to last year’s amount of $34,466.

A budget of $11,000 has been set aside for repairs and maintenance. Last year’s amount was $19,088. Office expenses of $42,960 are forecast, up significantly from $14,474 in this category last year.