I would like to briefly highlight some of the activities of your association for the year 2002-03.

• Business Taxation: Our year began with the knowledge that we would be faced with a new tax known as BPOL (Business, Professional, Occupation License) tax. We held meetings to inform our members and your association took the position that it would not recommend any tax, BPOL or otherwise…only that any tax should be fair to all and competitive in the region. King William County took the position that the new BPOL tax should be revenue neutral to the old tax known as merchant’s capital. This meant that the BPOL tax should generate the same revenues as the merchant's capital tax…. $67,000. As of today the BPOL tax has generated revenues of $191,089.11 from 378 businesses, which is well in excess of being revenue neutral.

• Crossover Project: This was perhaps our biggest undertaking which spanned over two years. We started raising money in October 2002 with a super successful auction put together by Danny Clark. Everything from flowers to automobiles were auctioned. We made several thousand dollars from this fun event. A special thanks to all those businesses who contributed and the many volunteers who joined together to finalize this project. At our last meeting we recognized everyone with a special video presentation.

• KWBA Web Page: Thanks to the FBLA Chapter of West Point High School, and their faculty advisor, Cindy Rinaldi, for creating the KWBA Web Page. Through our member donations, we presented West Point H.S. with a $500.00 FBLA scholarship. They are truly our future business leaders of tomorrow!

• Comprehensive Plan: The KWBA sponsored a public meeting for all the people of King William. We had the largest turnout of all the public hearings in the county. Soon the BOS will approve this planning document which will be the guiding blueprint for the growth of King William.

• Town Hall Meeting: The meeting was open to the public and we had a good turnout to hear State Senator Bill Bolling and Delegate Ryan McDougle inform everyone on the activities in the General Assembly. The question and answer period was most informative.

• Membership is now 140. We invite those who would like to join us to pick up an application at the membership table. Also each business can have two voting members…if 10 businesses here tonight add a new member we will complete our goal of 150 members.

Special thanks to Tom Smiley, Robert & Roberta Powell, T.D. Stewart, James Boyer and especially my wife, M.C. for bringing all the food, and supporting me this year.

Thanks to our Board of Directors…..Please stand

Thanks to David Robinson & Wesley Walker

Thanks to Joan Shuster of Abbott Truck Sales & Darlene Woodward of Parker Oil for all the hard work they have done to keep this organization rolling.

Support the new officers and help them get started by checking the purple participation sheet and leaving it in the box on the membership table.

Final Thank you.