SBS Annual Report Submission

Annually, each BID submits a report detailing its programmatic activities and financial expenditures to the Department of Small Business Services (SBS) using a template provided by SBS. This template, which is comprised of both qualitative and quantitative information, allows BIDs to articulate their strategy and overall goals and to highlight the impact they make on their community. In addition, it lends a degree of objectivity and transparency to SBS and stakeholders evaluating the impact of the programs and activities of the BIDs in New York City.

Completing an annual report that summarizes the BID’s fiscal year budget and activities provides BID staff with the opportunity to demonstrate how the organization’s strategy aligns with the needs of the community, ongoing plans and goals, and uses of resources.  By submitting both quantitative data that is easily comparable across all BIDs, as well as qualitative information specific to each organization, SBS can leverage these reports to identify and share trends and best practices across BIDs. In addition, it allows SBS to aggregate information about the collective impact BIDs have in New York City. A summary providing information on the programs and services provided by the City’s network of BIDs in fiscal year 2007 is available here .