Westerner Park Exhibition Hall  (rdnewsNOW file photo)

By Josh Hall (Twitter: @Vancan19)

CFR, Exhibition Hall

Forensic audit reveals key factors in Westerner Park’s financial crisis

Sep 25, 2020 | 4:41 PM

Inaccurate revenue projections for the Canadian Finals Rodeo and a lack of qualified financial staff are two key findings of a scathing forensic audit into what has led to fiscal difficulties for Red Deer’s Westerner Park.

In a release Friday, The City of Red Deer also reveals other factors include deficiencies in financial controls, business decisions surrounding the expansion of the new Exhibition Hall, and a failure to market said hall appropriately.

City council will discuss the audit more in depth during a special meeting on Tuesday, Sept. 29.

“This forensic audit, along with the financial sustainability report, are critical components as council and administration consider a long-term, sustainable future for Westerner Park,” said City Manager Allan Seabrooke. “While the report is very detailed and requires a thorough review and analysis, we have concluded there was no fraudulent activity or misappropriation on behalf of Westerner Park.”

The City assumed financial oversight of Westerner Park earlier this year with the goal of assessing and ensuring the short, medium and long-term sustainability of the non-profit organization.

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The primary goal of the audit was to determine if any misappropriation occurred, which as Seabrooke notes, it did not.

In addition to the above mentioned areas of concern, other key factors include changes to board governance, multiple projects occurring concurrently, lack of clarity regarding board communication, and the organizations use of the Major Maintenance Fund.

“While this forensic audit does not necessarily provide recommendations, it is the first step towards developing a more sustainable future for Westerner Park,” said Seabrooke. “We look forward to reviewing the results of the financial sustainability report, and working to secure a plan to ensure Westerner Park can continue serving as a community hub for our city and central Alberta.”