The Board and Executive have done extensive research and analysis on the financial situation and ongoing sustainability of the YMCA of Regina following the Annual General Meeting held in January. We now have a greater understanding of the financial challenges and opportunities that face our organization.
In our analysis we have examined the whole organization and developed multi-year expense and revenue projections for all locations; we have analyzed the contributions of our three service lines – childcare, health and fitness and community programming; we have consulted with third-party experts such as engineers, real estate appraisers, financial lenders and lawyers. Our financial situation is not positive, and without some changes we cannot sustain our current operations and programming in the community. We are reviewing options and opportunities to stabilize our financial foundations so that we can continue to be a viable service provider and community partner.
In response to questions and concerns raised at the 2018 Annual General Meeting, we would like to share our learnings with you and provide a clear picture of the financial challenges ahead of us. You are invited to attend an Information Session at the YMCA of Regina Downtown location on Wednesday, June 19 at 6:30 p.m.
The Board will continue to seek solutions and will report again after the information session, when decisions have been made.