Westerner Exhibition Association reports slight surplus in financial report

Liquidity also improved with cash increasing to $3.8 million in reliance on short-term borrowing reduced to almost zero, according to City of Red Deer CFO Sam Mugford. He added that bank indebtedness decreased from $579,000 to $20,000.

The city reports that the WEA relies on grants and continues to face long-term debt obligations. Despite that, operational performance improved over the past year through increased revenues, reduced operating expenses, and stronger cash flow.

As a result, council directed administration to complete additional financial analysis and strategic assessment work, including a review of current loan agreements and repayment options, and report back by the first quarter of 2027 to help inform future decisions and protect the city’s financial interests.

“These results demonstrate continued operational discipline and improved financial management. That said, long-term financial sustainability will require continued revenue growth, prudent cost management, and careful oversight,” Mugford said.

Westerner Park CEO Shelly Flint said 89 per cent of their operations are funded through earned revenue, while the remaining 11 per cent comes from government support.

She said grants allowed them to address important capital priorities, while managing expenses and creating the majority of the operating revenue themselves.

“These results reinforce why a balanced funding model matters. Earned revenue remains the foundation of our operations, while government and partner investments help us maintain and improve community infrastructure we’ve been entrusted to operate,” she said.

This past year, they formed a partnership with Marchant Crane and renamed the Centrium after the local organization. They also highlighted the impact of Westerner Days, the inaugural Red Deer Pro Rodeo, Agri-Trade, as well as new traditions such as a free skijoring event they held.

None of that was possible without the 207 volunteers who dedicated their free time to put on the countless events.

Looking ahead, the look to expand experiences, invest in community infrastructure, and strengthen financial sustainability.

by Ian Gustafson

Westerner Exhibition Association reports slight surplus in financial report

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