REAL has been losing money year after year you cannot maintain the positions and high salaries

The following was paid by the City of Regina and was extra money spent outside of the normal budgeting process:  

CERB Repayment after CRA Audit 2024

After extensive consultation, with CRA,  it was determined that REAL qualified for the CERB.  REAL applied and was accepted for the CERB during COVID.   A 2023 CRA audit changed this ruling resulting in an additional expenditure of $8M which was approved and paid for by the City of Regina.   
CERB Repayment                        $8,000,000

Grants from City of Regina as of October 2024

REAL was approaching their debt ceiling requiring an additional $4 million.  REAL was granted a $5.7-million budget for 2024, now at $9.7 million after this top-up. 
Regina Exhibition Association Limited (REAL)         $4,000,000

Grants from City of Regina 2023

Regina Exhibition Association Limited (REAL)         $2,881,790 

REAL Budget for 2025

REAL anticipates the need for a combined capital and operating budget of $12.7 million in 2025 and $13.7 million in 2026. Those asks will be finalized at budget time, but could mean a 2.5-per-cent mill rate increase.  The issue of hyper inflated salaries should be debated at budget time.  Such salaries may include the following:   

Executive Salaries 2023

President CEO 260,899

Vice President Corporate Services   217,204      

Vice President Corporate Development 199,473

Vice President Corporate Operations 207,543

Vice President Tourism and Brand 151,616

Vice President Agriculture 180,150   

Director Salaries 2023

Director People Services 99,938  

Director Corporate Partnership and Sales 124,416       

 Director Food and Beverage 171,914 

Director Site and Facilities 145,108  

Director Guest Experience 112,886 

Director Marketing and Communications 118,242 

Director Information Technology 141,546

Manager Salaries 2023

Manager Finance 131,669

Manager Occupational Health and Safety 103,457

Manager Fixed Assets and Maintenance 110,705 

Manager Sponsorship Advertising and Exhibit Sales 129,199

Manager Events and Entertainment 97,795

Manager Grounds and Conversions 103,627  

Manager Volunteer Services and Engagement 117,808

Manager Security and Parking 101,829  

Manager Compensation Benefits and Scheduling  100,504

Other Significant Salaries 2023

Special Project Leader Commercial Development 147,180  

Electrician 129,519

Executive Assistant  123,365

Financial Analyst 110,026  

Conflict of Interest

As well, conflict of interest guidelines should be reviewed by the new Board going forward.  For example, a merchandising company was paid 187,208 in 2023.  As well it is presumed that a similar amount maybe paid in 2024 to this company.  The conflict arises as the owner of this company is a REAL Vice President. Conflicts or perceived conflicts have been discussed by many regarding the REAL brand and the new Board should do everything possible to save, improve, and preserve the reputation of REAL.   

All future REAL Board Meetings should be open to the public to ensure an open and transparent process and to strengthen REAL going forward.