The budget deficit for Lethbridge & District Exhibition is smaller than what had been forecast for October 2024. (Photo: Lethbridge News Now)

By David Opinko

Exhibition budget deficit smaller than forecast

Feb 14, 2025 | 1:36 PM

Things continue to turn around for the better for Lethbridge & District Exhibition.

The organization provided its latest financial update to a City of Lethbridge committee this week, going over the numbers up to the end of October 2024. This marks the end of the group’s fiscal year.

Officials report that the Exhibition’s budget shortfall was $2,524,271.

While that does represent an increase of just over $280,000 compared to September, the group originally forecast a shortfall of $3,275,313 for October.

According to the report, the improving numbers are due to higher rental revenues with increased bookings, higher partnership revenues from strong sales and package development, a change in food services to make it profitable, savings on utilities and maintenance, and an overall event expense reduction.

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In November, the deficit is expected to shrink to just over $354,000.

The Agri-food Hub & Trade Centre hosted the Ag Innovation Conference in November. December’s numbers are expected to improve even further as major events like Glow were held.

So far, the Exhibition has booked 138 events for 2025, or about 39 per cent of their target for the year. Despite tracking slightly behind their goal of putting on 350 events this year, the addition of a new salesperson is expected to boost that number.

A report late last year showed that there was widespread mismanagement by the former leadership group at Lethbridge & District Exhibition, leading to a budget shortfall of $5.4 million.

The entire Board of Governors resigned in December 2023 and a new board, consisting of members of the City of Lethbridge and Lethbridge County, was installed in February 2024.

Now under new management, the Exhibition has provided monthly financial updates to the City of Lethbridge as it attempts to sort out its fiscal and managerial issues.

READ MORE: Widespread mismanagement revealed in Lethbridge & District Exhibition report

READ MORE: City of Lethbridge exploring funding options for Lethbridge & District Exhibition

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