The 2018 Saskatchewan Winter Games were a big financial winner for the Battlefords, and now decisions must be made on how to divide up the surplus.
It was confirmed at Monday’s planning committee by Councillor Kelli Hawtin that Rob Rongve and David Schell, Games host committee co-chairs, would share financials and present a proposal to council at their meeting the next week, Sept. 24.
Without question, there will be plenty of good financial news coming to council that evening about the Games.
On Sept. 6 at Blend restaurant, the Games board held their unofficial wind-up meeting, with the surplus being a prime topic. It was reported there was approximately $250,000 in legacy funds available.
In a report provided to council about that meeting, it was noted the majority in attendance believed the funds should be split between the new arena to replace the Civic Centre, and an endowment fund that could be applied for annually by sports teams and groups in the Battlefords.
However, there was also concern expressed that the arena might be years away, and that the memory of the games could be lost in the meantime.
At planning committee Monday, acting Director of Finance Margarita Pena said she had discussions with RBC that day on the possibility the City could open a separate investment account for the legacy funds. That way, the money could be invested over the 10 years and generate returns.
“That addresses the concern in this report that the funds could get lost in City coffers,” said Mayor Ryan Bater, who liked the idea of a dedicated fund being set up.
In any event, the full proposal on how the legacy funds will be dealt with will come up at the Sept. 24 meeting of council.
