September 29, 2022
Westerner Parks holds Annual General Meeting

On June 9, shareholders approved amendments to the Articles of Association, heard reports from the Governance and Nominating Committees, and received the Financial Statements and Auditor’s Report for the fiscal year ended March 31, 2022.

Guided by a volunteer Board of Directors, Westerner Park’s shareholders were updated on the health of operations, including insights into the key activities and financial impacts of the recent fiscal year.

Officials say Total Revenue of $12.38 million was less than budgeted but prudent cost controls of $7.29 million in Event Expenses and $6.89 million in Non-Event Expenses resulted in an overall Operating Income of $404,495 before non-cash charges and contributions, which outperformed budget by $372,860.

Officials also say that while events were limited by the pandemic, grants received were higher than anticipated, and Westerner Park was able to achieve its first payments on the City of Red Deer loan.

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