Lethbridge and District Exhibition deficit lower than predicted

The year-end deficit of the Lethbridge and District Exhibition was lower than forecast. (Photo: X@WHLOilKings)

The Lethbridge and District Exhibition financial deficit was lower than anticipated at the end of its fiscal year.

During Thursday’s economic and finance standing policy committee, Acting chief executive officer Kim Gallucci shared that the deficit was $2.5 million.

That deficit was down more than $750,000 from September, when the deficit was estimated at $3.2 million.

Gaullucci said the reason behind the lower deficit included higher rental revenues with increased bookings and change in food service.

The city said operating cost of the LDE has dropped from $30,000 per day to just shy of $7,000.