Finance & Budgets
The table below shows how the BID levy income will be spent between 2025 and 2030.
Wolverhampton BID Budget 2025-2030
| Income | Year 1 | Year 2* | Year 3* | Year 4* | Year 5* | Total |
|---|---|---|---|---|---|---|
| BID Levy | £527,332 | £527,332 | £527,332 | £527,332 | £527,332 | £2,636,660 |
| Additional Income** | £80,000 | £80,000 | £80,000 | £80,000 | £80,000 | £400,000 |
| Total Income | 607,332 | 607,332 | 607,332 | 607,332 | 607,332 | £3,036,660 |
| Expenditure | Year 1 | Year 2* | Year 3* | Year 4* | Year 5* | Total |
|---|---|---|---|---|---|---|
| Staff & Management | 84,000 | 84,000 | 84,000 | 84,000 | 84,000 | 420,000 |
| General Overheads | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 250,000 |
| A Welcoming City | 247,250 | 247,250 | 247,250 | 247,250 | 247,250 | 1,236,250 |
| An Exciting City | 132,600 | 132,600 | 132,600 | 132,600 | 132,600 | 663,000 |
| A Stronger City | 43,850 | 43,850 | 43,850 | 43,850 | 43,850 | 219,250 |
| Levy Collection Charge & Software | 36,765 | 29,565 | 29,565 | 29,565 | 29,565 | 155,025 |
| Contingency | 12,867 | 20,067 | 20,067 | 20,067 | 20,067 | 93,135 |
| Total Income | 607,332 | 607,332 | 607,332 | 607,332 | 607,332 | 3,036,660 |
£3,036,660 invested in Wolverhampton City Centre
Finance Information
- The total collectable levy in 2025 is expected to be £549,305 based on the NNDR list available in September 2024. It has been assumed that 96% of the billed levy will be collected each year. This collection rate will be applied throughout the BID term and is based on levy collection rates over the previous 5 years.
- The budgeted income from levy collection in the first year is approximately £527,332. (This is subject to change in accordance with the NNDR list as correct on the 1st April each year)
- *The BID levy may increase by an annual inflation factor that reflects an increase of no more than the CPI, to be agreed by the BID Board of Directors on an annual basis from 2026 onwards.
- ** City of Wolverhampton Council charge for collecting, administering and enforcing the levy. This charge is calculated as the lower of 5% of the levy or £46 per hereditament. In 2025 an initial £6000 software cost is applied and, in each year, there is a £1750 software support cost. All sums are exclusive of VAT.
- Contingency has been applied at 3.8% for expenditure.
- Total additional income is estimated at £80,000 per annum. The additional income is based on the BID’s previous 5 years record in generating income from the management of the Radio link scheme, receipt of grant funding and sponsorship from businesses.
- The BID will continue to run any commercial activities and undertake other income generation activities that complement and supplement the BID levy income and deliver better value for money for all BID services.
- The BID intends to offer a voluntary membership scheme for businesses that would not be liable to pay the levy.