Lethbridge City Council received the first of monthly reports from Lethbridge & District Exhibition on Thursday, April 11, 2024. (Photo: LNN)

By Christian Oldale

Exhibition provides first monthly report to Lethbridge City Council

Apr 11, 2024 | 4:48 PM

LETHBRIDGE, AB – Lethbridge City Council received the first of monthly reports from Lethbridge & District Exhibition (LDE) on Thursday, April 11, 2024.

At the meeting, LDE highlighted the success of the recent Ag Expo and said they look forward to the summer Farmers’ Markets and Whoop-Up Days.

Acting CEO Kim Gallucci said the November to February deficit of $341,194 is better than expected. However, Gallucci added that this does include the Ag Expo, which is a major revenue generator.

The initial budget for LDE projected a $6.5 million shortfall in 2024, but the city says work is ongoing to reduce it.

Lethbridge mayor Blaine Hyggen said, “We are encouraged to see the strong fiscal practices and leadership now in place at LDE.”

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He added, “This gives a very clear, open and transparent picture of the finances and operations. City taxpayers deserve that information and need to be able to see the work happening to reduce the funding gap to make the Agri-food Hub & Trade Centre more sustainable into the future.”

A Memorandum of Understanding (MOU) was signed between LDE and the City of Lethbridge earlier this year, and as a result, council requested monthly financial updates on the operations of the Agri-food Hub & Trade Centre.

READ MORE: City council votes in favour of agreement with Lethbridge & District Exhibition

In addition, LDE told council they have booked 25 new events in the last two months, and are continuing to expand its reach and bookings. LDE says there are currently 120 events in the 2024 fiscal year with the goal of reaching 200.

On the operations side, LDE identified electrical deficiencies in the south parking lot which require immediate attention. The work is estimated at $100,000 which will be funded through the lifecycle fee for service budget set aside by Council.

City administration is currently also working on a third-party review of LDE operations as part of the MOU. LDE has Anew governance structure in place, which includes members of administration from the City of Lethbridge and Lethbridge County.

READ MORE: Lethbridge News Now.

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