The Regina Exhibition Association (REAL) returned to council chambers on the first day of 2025 city budget deliberations with a reduced funding request from their initial proposal last month.
“We hope this reduction demonstrates to city council, to city administration and our residents we remain committed to achieving long term financial sustainability,” acting REAL President and CEO Roberta Engel told council Monday.
Councillors urged REAL in February to find further costs savings before their final budget is approved.
In their presentation Monday, the organization identified $1.2 million in cost cuts.
Of those cuts, $400,000 was in operations, with $800,000 towards incoming cash flow for reserves.
“We do acknowledge the amended budget ask is still very significant in nature and value,” Engel added. “However, this amount is necessary to allow REAL to continue operating and providing our community all the services and events they have come to expect.”
But as councillors face a proposed 8.5 per cent property tax increase, thoughts of further cuts are coming forward from all flanks.
“I know you’ve already reduced your ask,” Ward 8 Coun. Shanon Zachidniak asked. “But what if you’re asked to reduce it further?”
“If we were to reduce that any further, that would create some significant risk to the organization in terms of continuing to deliver on the expectations of the city,” REAL audit and finance committee chair Christine Short responded.
However, REAL warned their lower ask could result in the future return of the organization to council asking for more cash. Just as they did at times in 2024.
“Last year, we all came forward and asked for $2.8 million. We received $2 million,” Engel said. “And we found ourselves back at council in September asking for $4 million in cash flow funding.”
Council heard solely from delegations Monday, with no budget items being approved.
Talks will continue Tuesday morning before the full budget, including REAL’s funding request, will be approved later this week.
