Title
2012 Alberta Winter Games Surplus and Legacy Recommendation
Proposed Motions
1. That the Tri-Region 2012 Alberta Winter Games Society audited Financial Statements be received for information;
2. That the full amount of the surplus be contributed to the Tri-Municipal Leisure Centre Corporation for capital improvements to the TransAlta Tri Leisure Centre; and,
3. That the allocation of the $50,000 Legacy Grant provided by the Alberta Sport Recreation Parks and Wildlife Foundation be approved, as presented in the report.
Body
Administration Recommendation
Administration is in support of the proposed recommendations.
Purpose
The 2012 Alberta Winter Games were very successfully hosted by the Tri-Region 2012 Alberta Winter Games Society February 9 - 12, 2012. As Council is aware the hosting of an Alberta Winter Games is a huge responsibility and came with a budget just over $2.0 Million. The Tri-Region 2012 Alberta Winter Games Society was tasked to fundraise approximately $1.3 million to balance the Budget for the successful hosting of the 2012 Alberta Winter Games. The Board of Directors did an excellent job of fund-raising though a poorer than average economic climate and was able to raise in excess of $1.1 Million but was unable to raise the anticipated $1.3 Million.
Summary
Shortly after the Games concluded the Society found themselves in a cash shortfall position with an estimated deficit of $137,505.00 and all three municipalities approved deficit funding in the amount of $45,835.00 at the end of February 2012.
Administration brought a report to the July 9, 2012 Council Meeting that indicated that as of the end of March 2012 the Society was reflecting a surplus (including the municipal contributions) of $101,069.95.
Council at this meeting requested the following:
That Council accepts the Tri-Region 2012 Alberta Winter Games Society Legacy Fund Report for information and
Inform the Tri-Region 2012 Alberta Winter Games Society Board of Directors that the Town of Stony Plain portion of the estimated surplus funds ($33,330) from the 2012 Alberta Winter Games remain with the Society to be spent on Legacy Project(s) and;
That Council requests the Society to bring back a Legacy Funding Plan that will provide recommendations on what Legacy projects those funds will be allocated to for Council approval."
With the three Councils approving identical Resolutions as above allocating their respective shares of the surplus funds to the Society, the Society then held a meeting to talk about potential options to recommend to the three Councils. The consensus of the Society was that the surplus funds be directed to capital improvement projects at the TLC and as such directed the Chairman to enter into discussions with the Chair of the TLC Board looking at potential project options at the TLC for these surplus funds.
The Society at their October 10, 2012 meeting passed a motion to recommend to the three Councils to allocate the surplus amount to the Tri-Municipal Leisure Facility Corporation for capital upgrades and improvements to the TLC as approved by the Tri-Municipal Leisure Facility Corporation Board of Directors. It was anticipated that there would be recognition signage of this contribution placed in various locations of the facility
As Council is aware as part of the Host community Agreement once the Society submits its audited financial statements to the Province the Society will receive a $50,000 Legacy Grant. The Legacy Grant allocation is to be approved by the Foundation and jointly agreed upon by the Host Municipalities. The Society has recommended the allocation of these Legacy Funds on the following projects:
1. Large granite monument with the lyrics of the games song inscribed. This monument will be placed at Heritage Park and funds to be expended on this project will be to a maximum of $20,000.00.
2. To recognize the legacy contribution of the Parkland Potters Guild who had the athletes prepare a ceramic tile with these tiles then placed on the front of their facility the Society has agreed to provide the Potters Guild with a contribution of $1,500.
3. The remaining funds estimated at $28,500.00 will be donated to KidSport Parkland to be allocated towards their on-going initiatives of assisting economically disadvantaged youth in the Parkland area with the costs of registration.
Strategic Plan/Policy/Legal/Staff Implications
N/A
Financial Impact:
Cost: 0
Source of Funding: N/A