A motion to review the Regina Exhibition Association’s (REAL) governance, management and financial oversight will be before city councillors on Wednesday. The motion, put forward by Ward 3 Coun. David Froh, “[directs] administration to bring forward options for the restructuring of REAL that considers the financial sustainability of REAL,” according to the meeting’s agenda. It also requests city administration bring a report to council looking into revised ownership and control options, including fully or partially integrating REAL’s physical assets and operational responsibility directly onto the City of Regina. Dissolving REAL as a municipal corporation, resulting in the City of Regina taking over REAL assets and operational responsibility. Or maintaining REAL as a municipal corporation, but advancing financial efficiencies associated with reducing management positions, costs and developing a new governance model which provides effective public services and efficient stewardship of public dollars. In addition to the report, the motion says it would direct REAL’s board of directors to provide monthly financial information to the city, allowing for a more fulsome understanding of how public dollars are being used along with the overall financial situation at REAL. Administration would bring forward their report within 18 months. The motion comes as council gets set to begin budget deliberations next month. According to the preliminary budget released last week, REAL’s estimated budget request is $12.7 million – over 7$ million more than in 2024. The potential rise in the funding played a large role in administration presenting an 8.5 per cent property tax increase in its proposed budget.
|
