Exhibition directed to provide monthly reports to SPC
By Al Beeber - Lethbridge Herald on March 14, 2024.
LETHBRIDGE HERALDabeeber@lethbridgeherald.com
Lethbridge city council on Tuesday voted unanimously to approve an official business motion put forward by council Rajko Dodic calling on the Lethbridge & District Exhibition to provide a monthly reporting of its revenues and expenses starting on April 11 to the Economic and Finance SPC meeting.
The reporting would start for the month ending February, 2024 and continuing for each month after.
The motion states that a monthly snapshot of its operations from a financial perspective “would be of assistance” to council.
A presentation by City administration to council in January estimated the facility costs about $30,000 a day to operate with an estimated revenue of $12,000 per day, resulting in a potential daily shortfall of $18,000. The motion states that the City has committed about $5 million in 2024 to fund the LDE’s operating and capital shortfall.
6-5
This is a good move but where was the oversight in the first place? We’ll be paying for this for a very long time and the problems we should be solving with the annual $5 million commitment will get dropped. We need accountability for this lack of oversight!