2 0 1 5S h o w A n n u a l R e p o r t
Table of Contents
Canadian Western Agribition (CWA) , located in Regina, Saskatchewan, is the best beef show on the continent and the largest livestock show in Canada. The show is anchored by beef cattle and features horses, bison, sheep, goats and an extensive agribusiness trade show. CWA continues to promote the expansion, development and interest in agriculture.
To create and maintain an effective, hospitable and entertaining atmosphere to market Canadian agriculture products and expertise to the world.
Year after year, Canadian Western Agribition will be regarded as the best and most sought after agricultural marketplace in the world.
PAGE 2
Canadian Western Agribition 2015 Show - Annual Report
Message from the president I would like to express my sincere appreciation to all who contributed to a successful 2015 Agribition. Agribition achieved many successes in the past year. The 2015 show was once again filled to capacity and attendance was the best we have seen in recent years. We had an outstanding representation from international guests who come to Agribition to purchase Canadian genetics and products. New programs such as the Food Pavilion were introduced and we are optimistic that it will continue to grow. Sponsors and exhibitors participation demonstrated that Agribition is an important part of their marketing program. All of these contributed to a very gratifying financial result. After many years of planning, the announcement and field work on the new International Trade Centre is an exciting addition to Evraz Place and to Agribition. As we move forward, the show will continue to evolve and change to meet our stakeholder needs. I am confident Agribition will continue to meet the challenges ahead with the spirit and passion that has sustained us since our inception. There are many who contribute to Agribition’s succes– sponsors, exhibitors, staff, volunteers and many more. I would like to acknowledge in particular the contribution of Agribition’s 400 plus volunteers. You are the heart and soul of the organization and your willingness to give your time and expertise is the glue that has bound Agribition these past 45 years! I would also like to thank our exceptional staff and Board of Directors for their commitment, guidance, and contribution. It is truly a pleasure to be a part of the team. I hope to see you all at the 2016 show, November 21-26!
Stewart Stone President PAGE 3
Canadian Western Agribition 2015 Show - Annual Report
Message from the CEO I can’t be more proud of any show on record than our 2015 show. The root of my pride is in our people. The creativity, passion, and commitment to making Agribition great, stems from our people. Not only did our 400 volunteers and 200 staff come together, but the City of Regina stood behind us as well. At the heart of the show continues to be the cattle. The show’s international reputation in cattle continues to be second to none. The Agribition-led trade mission to Beef Australia in May of 2015 was well received by the industry and demonstrates the show’s continued commitment to the advancement of the industry. Overall livestock sales exceeded $3 million with purebred cattle sales breaking the $2 million mark for the first time since 1975. In a calculated move, the show expanded our brand by taking the show to the people. The kick off barbeque on Scarth Street Mall was intended to launch Agribition Month and the Regina Chamber of Commerce kick off luncheon with a live animal sale inside the Ramada Plaza set the tone for show week. The launch of the new Food Pavilion in 2015 was the combination of a complex marketing strategy to engage non-agriculture constituents with our world-class livestock and trade show exhibitors. Cooking demonstrations and the wine garden made for an excellent visitor experience and laid the foundation for the agriculture community to tell their story to consumers in a friendly and engaging manner. This new program will go a long way to supporting ag-awareness with consumers. Social media continues to change the shape and style of the show at a faster pace than we have resources to manage. It’s difficult to measure the true reach of the event and the impact of social posts, but it is evident social media is here to stay, and it’s to the show’s benefit to have people talking about personal experiences and sharing their stories. The outstanding achievement in attendance at the show as well as the rodeo can be attributed, in part, to social media. The show’s popularity and reach could be measured this year by the addition of non-Agribition related activities attached to the show. The Canadian Agriculture Hall of Fame, 4-H Canada, various sponsors, industry associations, and other conference groups hosted their events in Regina during the week of the show. These events are organic marketing opportunities for the show and aid in the show’s overall community impact. PAGE 4
Canadian Western Agribition 2015 Show - Annual Report
Message from the CEO Much of the year’s efforts were spent on securing funding for the newly announced International Trade Centre. The culmination of years of effective lobbying combined with the right champions in Minister Ritz, Minister Stewart, and Mayor Fougere, as well as the significant financial backing of the Regina Hotel Association, set the table to deliver the new buildings. It is rare to unite such a large group, and it is humbling to experience such wide spread support for Agribition. We are truly grateful. The financial success of the show is the bi-product of strong operational efficiency, promotional exposure, and relevance of the show’s programming. No other event in this country can celebrate the breadth and scope of what Agribition has become. The best part of all: these success are the hard work and commitment of dedicated volunteers and staff – a true team effort.
Marty Seymour Chief Executive Officer
*Conceptual rendition of the International Trade Centre
PAGE 5
Canadian Western Agribition 2015 Show - Annual Report
BOARD OF DIRECTORS
Back row, L to R: Blake MacMillan (Executive Member at Large); Courtney MacDougall; Michael Latimer; Reed Andrew (Past President); Kim Onrait; Marty Seymour (Chief Executive Officer); Bruce Holmquist (Vice President); Rich Harries; Bryon Burnett; Kim Hextall Middle row, L to R: Carla Schmitt; Deborah Niekamp; Tom Schwartz; Chris Lees (Executive Member at Large); Bryce Thompson (Executive Member at Large); Curtis Kuchinka Front row: Stewart Stone (President) Missing: Doug Fee; Levi Wood; Barry Young; Elmer Eashappie
PAGE 6
Canadian Western Agribition 2015 Show - Annual Report
Employees
Back Row - L to R: Randi Seitz, Livestock Event Coordinator; Corey Sentes, Controller; Shawna Fuchs, Livestock and Rodeo Manager; Corey Hoskins, Trade Show Manager; Sarah Novak, Marketing Manager Front Row - L to R: Brady Kapovic, Sponsorship Manager; Marty Seymour, Chief Executive Officer Missing: Nicole Bissonnette, Fulfillment Coordinator
PAGE 7
Canadian Western Agribition 2015 Show - Annual Report
Marketing Promotions Agribition was an active member in the community, with interactive games set up for kids at both I Love Regina Day and Regina Folk Festival. Additionally, the inaugural Kick Off to Agribition Barbeque was launched on November 3 in downtown Regina at the Scarth Street Mall. The barbeque featured 6 downtown restaurants who served beef lunch dishes to kick off November as “Agribition Month”. Social Media Agribition saw a 34 per cent growth in social media audience through Facebook and Twitter as well as adding Instagram to the mix. Facebook fans increased by 25 per cent over last year and Twitter followers increased by 39 per cent over last year. Instagram users created over 1,000 posts using Agribition related hashtags during the week of the show. The popular trend at the show was the new #FlatMarty hashtag, which involved taking a photo with a cut out of Marty Seymour, and posting the photos on social media with “#FlatMarty”. Media & Communications Agribition continues to develop and execute all communications internally through the marketing shop. In 2015, the newsroom saw staffing and layout changes which positively impacted the show and increased media engagement. The media coverage of Agribition was again extensive with over 48 media groups doing interviews and covering the show. The CTV Morning Live crew was on site every morning and other media coverage was present throughout the whole week. Research Two surveys were produced to gather customer information and assess the shows economic impact. One was conducted at the rodeo and the other was conducted throughout the show week. Survey data reveals an impressive $56 million provincial economic impact.
Sarah Novak Marketing Manager PAGE 8
Canadian Western Agribition 2015 Show - Annual Report
Trade Show AND ENTERTAINMENT The 2015 show was another success with increased trade show revenues for the 4th consecutive year. The growth can be attributed to the rental of an additional arena in the Co-operators Centre, creating more sellable space. The Food Pavilion concept was launched this year, which exceeded most expectations. The Food Pavilion incorporated food-focused trade show exhibitors along with the KitchenCraft Demonstration Stage and the Living Sky Winery Garden. The demonstration stage provided a platform for chefs and presenters to demonstrate their product or skills in front of a small audience. The Living Sky Winery Garden provided a new space for our visitors to relax and enjoy Sask-made wine and craft beer. Agribition held a very successful “Farewell to The Swamp� cabaret on Saturday, November 28. Entertainment was provided by Julian Austin who was very well received. Capacity was reached prior to him hitting the stage and had a very long line up of people wanting to get in. The entertainment strategy for the Pump Roadhouse Stage was focused around the rodeo with different acts performing before and after the rodeo. This, coupled with other successful initiatives such as the free rodeo on Tuesday night supported by Mosaic, allowed us to grow the visitation of the Bud Light Loading Chute which is where the Pump Roadhouse Stage is located. The mechanical bull returned to this space which was enjoyed by many visitors.
Corey Hoskins Trade Show Manager
PAGE 9
Canadian Western Agribition 2015 Show - Annual Report
Livestock AND Rodeo The success of the 2015 show support the livestock show and sale rings as vibrant and strong market places for both international and domestic trade. Total livestock sales, including beef, bison, sheep, goats, and equine saw a significant growth with a 28 per cent increase over 2014. The Heart of Agribition The success of the country’s best beef show speaks volumes to the dedication of the exhibitors. The number of purebred beef entered increased 7 per cent. Purebred beef sales through the sale ring saw a 31 per cent growth in gross sales, exceeding $2 million for the first time since 1975. Other highlights in the beef events were: • The demand for improved marketing opportunities by exhibitors increased the dry displays by 42 spaces • The Stock Exchange continues to improve and grow with a 23 per cent increase in entries for bred and open replacement heifers in The Yards • President’s Classic presented by Semex exceeded all expectations in the inaugural year with 118 entries • The first Champions by Design club calf genetics sale offered bred heifers, bulls, and frozen genetics Livestock Entertainment The equine events continue to provide added entertainment for show visitors. Events such as Canadian Horse Pull Finals, International Stock Dog Competition and Ranch Horse Competition and Sale continue to attract large audiences. The Barrel Horse Prospect Sale was added with 5 horses entered. Rodeo The Canadian Cowboys’ Association Finals Rodeo was none other than spectacular. The new score clock refined production and the addition of Wild Horse Racing greatly enhanced the fan experience. Three sell out nights, free Tuesday sponsored by The Mosaic Company, and efficient running performances all attributed to the success. Record attendance for the CCA Finals Rodeo was 23,560.
Shawna Fuchs Livestock & Rodeo Manager PAGE 10
Canadian Western Agribition 2015 Show - Annual Report
Sponsorship Agribition remains committed to its corporate and community partners. With a customized and relationship-based approach, the portfolio has seen continued growth year-over-year with 2015 being no exception. Agribition’s partners cross many different industries including manufacturing, mining, animal pharmaceuticals, retail sales, banking, community organizations, and the public sector which reflects Agribition’s continued goal of being the best agricultural marketplace in the world. Changing economic conditions in certain industries had both a positive and negative effect on the portfolio. The overall attrition rate decreased in 2015 and sales grew 13%, which is in-line with the multi-year trend. CWA was pleased to welcome 20 new partners in 2015 involved in some great new initiatives including the President’s Classic presented by Semex Beef, the Food Pavilion presented by The Mosaic Company, the Living Sky Winery Garden, free night at the rodeo courtesy of The Mosaic Company, and the $2 fee instituted for the Education Program being subsidized by Ledcor Construction.
Brady Kapovic Sponsorship Manager
PAGE 11
Canadian Western Agribition 2015 Show - Annual Report
2015 Sponsors PLATINUM SPONSORS
GOLD SPONSORS
PAGE 12
Canadian Western Agribition 2015 Show - Annual Report
2015 Sponsors SILVER SPONSORS A&W Advantage Sign & Display Affinity Credit Union Bayer CropScience Blair’s Family of Companies CityTV
Degelman Fountain Tire Ledcor Group Merial Canada Inc. Ramada Worldwide Ritchie Bros. Auctioneers
BRONZE SPONSORS Atom-Jet Industries FarmLink Marketing Solutions B&W Trailer Hitches Graham Construction Cargill Hibrix Casino Regina Konica Minolta Canadian Beef Breeds Council Living Sky Winery Coca-Cola Refreshments NorthStar Genetics Enbridge Pipelines Inc. Queen City Plumbing & Heating SUPPORTERS Konica Minolta Loraas Disposal Services Sherwood Animal Clinic Ltd. Southey Agencies
Thomas Sand and Gravel West Central Pellating Western Litho Printers Ltd.
PAGE 13
Canadian Western Agribition 2015 Show - Annual Report
Saskatchewan Arts Board Semex Beef Subway TopKrop TransCanada Zoetis Richardson Pioneer SaskMilk SIGA Southland Mall Spectra Energy The Co-operators
2015 Show Volunteers 1 Year of Service Christopher Adams Tom Allen Sharon Baldry Stan Baldry Kristen Bend Sparky Berthelot Paul Boschman Terry Brodziak Bryon Burnett Susan Campbell Robert Capp Paul Comfort Jeff Cooper Jennifer Coppola Kelsey Dale Ron Demyen Linda Deren Catherine Duczek Rob Garner Amanda Girardin Al Goudie Fran Goudie Tomenette Gulbaek-Pearce Gord Gustafson Brooklynn Gyoerich Dora Hakl Tom Hakl Taylor Halbert Cecile Hebert Sharleen Heisler-Demyen Jason Hicks Brendan Hill Gladys Hill Keith Hill Bruce Hipkin Eric Holloway Kirsten Holowaty Braxton Houlden Jae Won Hur Melissa Hurst
Anders Ireland Carmen Jackson Victoria Johnson Rhett Jones Denis Kirkham Sheldon Kyle Doug Lambert Tina Lees Mike Leslie Maddy Libby Lonny McKague Barry Mitchall John Moleski Tawni Morrison Willow Neuls Garth Newell Renee Nicurity Blaine Norleen Jolene Norleen Pauline Obrigewitsch Kim Onrait Candice Pete Tiffany Peters Audrey Price Nicole Pyne Sherry Quam Laurie Salter Marlene Schneider Tom Schwartz Travis Sentes Dennis Serhienko Karen Shewchuk Hormoz Shoghi Greg Smith Karen Smith Sandy Smith Gary Stakiw Lyle Stavness Vicky Stavness Chelsea Steeves Danita Stubel PAGE 14
Canadian Western Agribition 2015 Show - Annual Report
Amy Thompson Scott Thompson Abbie Treslan Darryl Ulledal Jean Van Nus Robby Vancise Melissa Wickenheiser Dave Wudrick Don Wuschke Wendy Wuschke Zach Zabinsky Corey Zaharuk Michael Zech 2 Years of Service Steve Abbott Andy Anderson Dale Anderson Wade Armstrong Krystal Aulie Jennifer Barrett Michelle Bellegarde Chris Bertram Marty Bertram Scott Blair Jeanette Blakley Verne Bolen Ernie Boon Jack Cronkhite Margaret Daegenais Dayna Deck Garner Deobald Eleanor Desjardins Gloria Eskdale Gail Fry Harvey Gardner Judy Gates Jordan Greve Brett Grieve Brian Harris Ron Henry
2015 Show Volunteers 2 Years of Service (cont’d) Kim Hextall Trevor Jones Louise Krueger Annetta Kuntz Nial Kuyek Basil Kuzyk Michael Latimer Doug Leask Marilyn Leask Keith Lipsett John Lozinski JoAnn Lupastin Pam Lysak Gianna Marchiori Carol Marwick Erica Marwick Gladys Matkowski Dwight Matusko Jared McTavish Faye Meyer Chloe Miller Jean Miller Julie Mitchell Kelly Moens Ron Mulholland Nicole Nameth Deb Niekamp Dianne Panagapko Sharon Pepin Fran Protz Chantel Rasmusson Jackie Rich Kelly Ross Austin Rudiak Karl Sauter Scott Sauter Marge Schulz Fred Short Cheryl Simmons Sterling Smith Corbin St. John
Waverly Stechyshyn Audrey Stopanski Gordon Stopanski Doug Sutherland Wayne Temple Darwin Weimer Terry Weimer Jamie Whitworth Terry Zwarych 3 Years of Service Helen Almassy BJ Crosbie Ian Crosbie Neil Crosbie Judith Erickson Leslie Geddie Vivian Gerrard Glenda Hewalo Blake MacMillan Dave Matechuck Matt Melnyck Wally Mills Ali Pike Des Plewman Cain Quam Roberta Quam Selene Reid Megan Roger Austin Schaeffer Cathy Schaeffer Kendra Schulz Wayne Tranberg Gloria Wittal Levi Wood Michael Zaleschuk 4 Years of Service Brenda Clark Ken Dockham Phyllis Engelstad Angel Grieve PAGE 15
Canadian Western Agribition 2015 Show - Annual Report
Judy Hunter Brennin Jack Bob Keir Marty Kratochvil Don Laing Naomi Lees Reg Lindenbach Jenna Loveridge Vanessa Magnin Branden Mainil Dustin Mainil Mona Neher Lynda Patterson Robin Poirier Rob Reeves Ken Robinson Angie Suwala Art Unsworth Christie Waechter Kyla Weber 5 Years of Service Jody Berglund Calvin Dovell Elmer Eashappie Travis Ell Bryon Evans Doug Fee Curtis Kuchinka Adam Lindenbach Ray Lutz Scott McCormack Blair McIntosh Vic Peters Andy Roesslein Isabel Sheltgen Mike Stiefel Bryce Thompson Harry Toews Nathan Trowell
2015 Show Volunteers 6 Years of Service Meagan Bollinger Chris Drake Randy Epp Gary Freitag Chris Greyeyes Mark Johanson Jordan Konkel Brian Lindenbach Lucas Lindenbach Tabitha Mainil Carla Schmitt Robert Stephenson Garry Wendling Ken Zemlak 7 Years of Service Steven Bonk Doug Bouck Bill Curtis Charmaine Grad Shaela Ponsford Reg Schellenberg Fred Stratton Clint Wiens 8 Years of Service Doug Conway Dale Easton Adam Flood Rich Harries Melodi Hawkesford-Lee Terry Hepper Kaitlin Jordan Ross Macdonald Mike Mamona Darcy Sattler Irene Smyth 9 Years of Service Joe Barnett Blair Bentz
Kelly Brice David Dean Eunice Dohlen Tyson Rasmusson Linda Robertson Pam Smith Caitlyn Stenberg Rustyn Stenberg Leon Van De Walle Scott Wilson 10 Years of Service Rick Byrne Harold Grane Dylan Grieve Grant Hamilton Larry Hanson Chris Lees Doug Siman Marj Siman Kent Stuart Mark Vermeulen Aaron Yorga 11 Years of Service Carrie Cholak Campbell Forsyth Lorna Grant Ed Hunter Walt Lockie Jeanine Nazarchuk Chris Williamson 12 Years of Service Greg Bellisle Perry Cochrane Neil Cromarty Greg Frick Courtney MacDougall Sheldon Matsalla Brian Rossnagel Grant Vermeulen PAGE 16
Canadian Western Agribition 2015 Show - Annual Report
13 Years of Service Jack Grad Jim Hallberg Russ Pankiw Leanne Rein Bonnie Thompson 14 Years of Service Craig Boake Albert Hack Sam Hardstaff Kelly Howe Herb McLane Lyle Selinger Colette Stushnoff 15 Years of Service Geri Hack Bill Lys Garth Neher Mel Ostapovich 16 Years of Service Carol Evans Sherri Grant Barry Young 17 Years of Service Bob Crowe David Gadd Doug Jones Wes Mack Gary Milton Lee Sinclair 18 Years of Service Betty Abrey Warren Fuchs Lori Milligan Jennifer Strudwick
2015 Show Volunteers 19 Years of Service Marilyn Charlton Eileen Davidson Karen Grieve Wilf Knelson Shannon McArton Bill Peters Virginia Peters Stewart Stone Ken Stovin Norm Vertefeuille Orest Warnyca Bill Zuber
24 Years of Service Gary Anderson Adele Buettner Dale Montgomery Bill Mustatia Kevin Smith
20 Years of Service Garth Charlton Tom Grieve Clarence Manegre
26 Years of Service Marla Grad Lyle Pretty Mona Taylor
21 Years of Service Audrey Horkoff Les Kroeger Lorne Lynch Mark Silzer
27 Years of Service Maurice Clark Janice Faer Bill Gray Levi Jackson Roy Jones Howard Slack
22 Years of Service Terry Bedard Candace By Doug Graham Pauline Long-Wright 23 Years of Service Grant Alexander Barb de le Sablonniere Glen Elford Bryan Hadland Dean Hobman Gordon Kosloski Grant Royan Verla Schulz
25 Years of Service Larry Brack Brian Fahlman Bruce Holmquist Gordon Roger Belinda Wagner
28 Years of Service Hugh Wright 29 Years of Service Helge By Debbie Haupstein Kim MacDougall Marilyn Sharp 31 Years of Service Jim Laturnas 32 Years of Service Bill Aulie Barry Hamdorf
33 Years of Service Dale Claypool Jim Evans Eugene Faer Marilyn Mountenay Ron Mountenay Merle Thomason 34 Years of Service Fred Bartolf 36 Years of Service Bonnie Tweedie 37 Years of Service John Blacklock Bryce Burnett Gordon Stephenson Dale Strudwick 38 Years of Service Reed Andrew Glen Lipsett 39 Years of Service Lyal Fox Sr Gerry Miller Perry Wilkes 43 Years of Service Hazel Kinzie 44 Years of Service Leroy Berry John Willmott 45 Years of Service Ken Halvorson
PAGE 17
Canadian Western Agribition 2015 Show - Annual Report
2015 Corporate Members Advantage Sign and Display Allied Printers Ltd. Bank of Montreal Blair’s Family of Companies Canadian Angus Association Canadian Beef Breeds Council Canadian Bison Association Canadian Charolais Association Canadian Galloway Association Canadian Hereford Association Canadian Shorthorn Association Charolais Banner CIBC Delta Regina EventStaff Canada Farming for Tomorrow Golden West Radio Heartland Livestock Services Johnstone Auction Mart Ltd. Labatt Breweries of Canada Lipsett Cartage Ltd. Merck Animal Health Nelson Motors & Equipment Percy H. Davis Ltd. Regina Exhibition Association Ltd.
Regina Hotel Association Regina Pats Hockey Club Regina View Farms Inc. Royal Bank of Canada Saskatchewan Angus Association Saskatchewan Bison Association Saskatchewan Cutting Horse Association Saskatchewan Hereford Association Saskatchewan Livestock Association Saskatchewan Ministry of Agriculture Saskatchewan Pork Saskatchewan Seed Growers Association Saskatchewan Sheep Breeders Association Saskatchewan Sheep Development Board Saskatchewan Shorthorn Association Saskatchewan Simmental Association Saskatchewan Stock Growers Association Saskatchewan Trade and Export Partnership SaskMilk T Bar C Cattle Co. Ltd. The Regina & District Chamber of Commerce The Western Producer Western College of Veterinary Medicine, University of Saskatchewan Young’s Equipment Inc.
PAGE 18
Canadian Western Agribition 2015 Show - Annual Report
2015 Friends of the Show Abrey, Betty Anderson, Gary Andrew, Reed Aulie, Bill Balkwill, Tom Bartolf, Fred Bedard, Bernie Bedard, Terry Berry, Leroy Blacklock, John Bolen, Verne Brack, Larry Burnett, Bryon Charlton, Marilyn Cox, Roberta Danchuk, Victor Dockman, Ken Eashappie, Elmer Easton, Dale Edwards, Vance Evans, Jim Fee, Doug Fiddler, Krissy Fox Sr, Lyal Gray, Bill Hadland, Bryan Hall, Barry
Halvorson, Ken Hanson, Larry Harries, Rich Harris, Ron Haupstein, Deb Hextall, Jack Hextall, Kim Holmquist, Bruce Horkoff, Audrey Howe, Doug Huber, Woody Jackson, Bob Jackson, Levi Jones, Trevor Kratochvil, Marty Kuchinka, Curtis Lees, Chris Macdonald, Ross MacMillan, Blake Mamona, Michael McArton, Shannon McLane, Herb Miller, Gerry Mills, Wally Niekamp, Deb Onrait, Kim Ostapovich, Mel PAGE 19
Romanow, Naomi Ross, Kelly Rossnagel, Brian Royan, Grant Sanheim, Gus Sawatsky, Jim Schmitt, Carla Schultz, Verla Sharp, Marilyn Siman, Doug Siman, Marj Smith, Patricia Soop, Beatle Stephenson, Gordon Strudwick, Dale Stuart, Kent Taylor, Mona Thomason, Merle Thompson, Bryce Van De Walle, Leon Wilkes, Perry Willmott, John Wood, Levi Young, Barry
Canadian Western Agribition 2015 Show - Annual Report
Management’s Responsibility To the Members of Canadian Western Agribition Association: Management is responsible for preparing the accompanying financial statements and ensuring that all information in the annual report is consistent with the statements. This responsibility includes selecting appropriate accounting principles and making objective judgments and estimates in accordance with Canadian accounting standards for not-for-profit organizations. In discharging its responsibilities for the integrity and fairness of the financial statements, management designs and maintains the necessary accounting systems and related internal controls to provide reasonable assurance that transactions and authorized assets are safeguarded and financial records are properly maintained to provide reliable information for the preparation of financial statements. The Board of Directors and Audit Committee are composed of Directors who are neither management nor employees of the Association. The Audit Committee is appointed by the Board to review the financial statements in detail with management and to report to the Board prior to their approval of the financial statements for publication. MNP LLP, an independent firm of Chartered Professional Accountants, is appointed by the members to audit the financial statements and report directly to them; their report follows. The external auditors have full and free access to, and meet periodically and separately with both the Committee and management to discuss their audit findings. April 7, 2016 _____________________ ____________________ Director Director
PAGE 20
Canadian Western Agribition 2015 Show - Annual Report
Auditors’ Report To the Members of Canadian Western Agribition Association: We have audited the accompanying financial statements of the Canadian Western Agribition Association (the Association), which comprise the statement of financial position as at January 31, 2016 and the statements of operations, changes in fund balances and cash flows for the year then ended and a summary of significant accounting policies and other explanatory information. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian accounting standards for not-for-profit organizations and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditng standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements present fairly, in all material respects, the financial position of the Canadian Western Agribition Association as at January 31, 2016 and the results of its operations and its cash flows for the year then ended in accordance with Canadian accounting standards for not-for-profit organizations. Regina, Canada April 7, 2016 __________________________________ Chartered Accountants
PAGE 21
Canadian Western Agribition 2015 Show - Annual Report
CANADIAN WESTERN AGRIBITION ASSOCIATION Statement of FINANCIAL POSITION For the year ended January 31, 2016 ASSETS Operating Scholarship 2016 2015 Fund Fund Total Total $ $ $ $ Current: Cash (Note 4) 148,159 242 148,401 162,492 Short term investments (Note 5) 2,305,744 154,238 2,459,982 1,711,131 Accounts receivable (Note 6) 296,002 - 296,002 181,025 Interfund accounts receivable 21,944 - 21,944 10,134 Government remittance receivable 24,051 - 24,051 25,558 Prepaid expenses 19,828 - 19,828 17,461 Total current assets 2,815,728 154,480 2,970,208 2,107,801 Contingency reserve investments (Note 7) 225,000 - 225,000 225,000 Capital assets (Note 8) 242,864 - 242,864 281,180 3,283,592 154,480 3,438,072 2,613,981 LIABILITIES AND FUND BALANCE Operating Scholarship 2016 2015 Fund Fund Total Total $ $ $ $ Current: Accounts payable 177,297 - 177,297 182,778 Interfund accounts payable - 21,944 21,944 10,134 Deferred revenue 44,913 - 44,913 41,033 Deferred capital contributions (Note 9) 21,305 - 21,305 42,609 Total current liabilities 243,515 21,944 265,459 276,554 Fund balances: Unrestricted fund balance 1,593,518 1,593,518 1,731,900 Internally restricted fund balance - 132,536 132,536 141,956 Internally restricted contingency reserve (Note 7) 225,000 - 225,000 225,000 Internally restricted infrastructure reserve (Note 5) 1,000,000 1,000,000 Invested in capital assets 221,559 - 221,559 238,571 Total fund balances 3,040,077 132,536 3,172,613 2,337,427 3,283,592 154,480 3,438,072 2,613,981 On behalf of the Board:
_____________________ ____________________ Director Director PAGE 22
Canadian Western Agribition 2015 Show - Annual Report
* See accompanying notes
CANADIAN WESTERN AGRIBITION ASSOCIATION Statement of OPERATIONS For the year ended January 31, 2016 Operating Scholarship 2016 2015 Fund Fund Total Total $ $ $ $ Revenue: Show 1,099,493 8,944 1,108,437 1,026,710 Sponsorship 1,159,211 - 1,159,211 1,003,515 Displays 1,061,337 - 1,061,337 1,034,726 Grants 6,500 - 6,500 5,000 Livestock 466,796 - 466,796 415,002 Intern’l Business Development 304,409 - 304,409 301,768 Other 110,902 - 110,902 62,568 Gain on disposal of capital assets 6,266 - 6,266 32,550 4,214,914 8,944 4,223,858 3,881,839 Expenses: Direct Labour & Benefits 1,140,257 - 1,140,257 1,079,838 Building & Equipment rent, repairs 613,248 - 613,248 711,605 Show Time Costs 650,920 18,364 669,284 547,574 Entertainment 287,387 - 287,387 287,305 Intern’l Business Development 163,946 - 163,946 159,043 General Office Supplies 173,417 - 173,417 142,597 Marketing & Communications 134,106 - 134,106 171,395 Board, Staff and Volunteer 104,821 - 104,821 79,476 Amortization 102,206 - 102,206 100,090 3,370,308 18,364 3,388,672 3,278,923 Net operating income 844,606 (9,420) 835,186 602,916 STATEMENT OF CHANGES IN FUND BALANCES
Operating Scholarship Internally Restricted Internally Restricted Invested in Fund Fund Contingency Reserve Infrastructure Reserve Capital Assets $ $ (Note 7) $ (Note 5) $ $
Fund Balance, beginning of year 1,731,900 141,956 Net operating income 925,508 (9,420) Interfund transfer (1,000,000) - Net capital asset purchases (63,890) - Fund Balance, end of year 1,593,518 132,536
225,000 - - -
225,000
2016 Total $
- - 1,000,000 -
238,571 (80,902) - 63,890
2,337,427 1,734,511 835,186 602,916 - - -
1,000,000
221,559
3,172,613 2,337,427
* See accompanying notes
PAGE 23
Canadian Western Agribition 2015 Show - Annual Report
2015 Total $
CANADIAN WESTERN AGRIBITION ASSOCIATION Statement of cash flows For the year ended January 31, 2016 Operating Scholarship 2016 2015 Fund Fund Total Total $ $ $ $ Cash provided by operating activities: Net operating income 844,606 (9,420) 835,186 602,916 Amortization 102,206 - 102,206 100,090 Capital grant contribution recognized for the year (21,304) - (21,304) (21,304) Gain on disposal of capital assets (6,266) - (6,266) (32,550) Net change in non-cash working capital accounts related to operations (Note 10) (132,786) 9,798 (122,988) 36,154 Cash used in operating activities 786,456 378 786,834 685,306 Cash used in investing activities: Proceeds from sale of capital assets 6,266 - Purchase of capital assets (63,890) - Proceeds from disposal of short term investments 1,775,000 - Purchase of short term investments (2,517,902) (399) Cash used in investing activities (800,526) (399) Cash provided by financing activities: Repayment of debt - - Cash provided by financing activities - -
6,266 (63,890) 1,775,000 (2,518,301) (800,925)
- -
32,550 (45,659) 1,807,232 (2,996,698) (1,202,575)
(29,014) (29,014)
Net increase (decrease) in cash Cash at beginning of year
(14,070) 162,229
(21) 263
(14,091) 162,492
(546,283) 708,775
Cash at end of year
148,159
242
148,401
162,492
Interest received
21,888
21,888
23,245
PAGE 24
Canadian Western Agribition 2015 Show - Annual Report
-
CANADIAN WESTERN AGRIBITION ASSOCIATION notes to financial statements For the year ended January 31, 2016 1. Description of Business Canadian Western Agribition Association (the Association) was established in 1971 to create and maintain an effective, hospitable and entertaining atmosphere in which to market Canadian agriculture products and expertise to the world. Annually the Association hosts a 6 day showcase of events including livestock shows and sales encompassing cattle, sheep, horses and specialty livestock, rodeo and trade show. This not-for-profit organization was incorporated in 1971 and is not subject to income tax under the Income Tax Act. 2. Accounting Policies The financial statements of the Association have been prepared in accordance with Canadian accounting standards for not-for-profit organizations. The more significant of these accounting policies are summarized below. Use of Estimates The preparation of financial statements in conformity with Canadian accounting standards for not-for-profit organizations requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions are reviewed periodically and, as adjustments become necessary they are reported in earnings in the period in which they become known. Revenue Recognition The Association follows the deferral method of accounting for contributions. Restricted contributions are recognized in the year in which the related expenses are incurred. Unrestricted contributions are recognized as revenue when received or receivable if the amount to be received can be reasonably estimated and collection is reasonably assured. Deferred Revenue Deferred revenue represents revenue collected in respect of future shows. Deferred Contributions related to Capital Assets Deferred contributions related to capital assets represent restricted contributions used to purchase the Association’s livestock traceability equipment. Recognition of these amounts as revenue is deferred to periods when the related capital assets are amortized.
PAGE 25
Canadian Western Agribition 2015 Show - Annual Report
CANADIAN WESTERN AGRIBITION ASSOCIATION notes to financial statements For the year ended January 31, 2016 Financial Instruments The Association recognizes its financial instruments when the Association becomes party to the contractual provisions of the financial instrument. At initial recognition, the Association may irrevocably elect to subsequently measure any financial instrument at fair value. The Association made such an election to record cash and short term investments at fair value. The Association subsequently measures all other financial assets and liabilities at amortized cost. Transaction costs and financing fees directly attributable to the origination, acquisition, issuance or assumption of financial instruments subsequently measured at fair value are immediately recognized in the excess of revenues over expenses for the current period. Conversely, transaction costs and financing fees are added to the carrying amount for those financial instruments subsequently measured at amortized cost or costs. Fund Accounting There are two funds maintained by the Association. The purpose of each fund is as follows: Operating Fund The operating fund consists of planned activities related to the annual show of the Association and includes the related expenses. Scholarship Fund The Canadian Western Agribition Association Scholarship Program is intended to provide financial support and incentive to young people in order to pursue further education. Funding for the Scholarship Program is derived from a variety of the Association’s activities, as well as from recognized outside contributions. The number of scholarships awarded in any year is dependent upon the financial resources available to the program and the number of qualified applications submitted. Cash Cash includes balances with banks with maturities of three months or less. Short Term Investments Short term investments are recorded at fair market value as they mature within the next 12 months. Operation Contingency Reserve At the May 30, 2012 Board of Directors meeting, a motion was passed to establish a contingency reserve with a maximum balance of $225,000. The reserve is for future contingenices. Capital Assets Purchased capital assets are initially recorded at cost. Assets donated to the Association are recorded at their estimated fair market value at the time of donation. Gain or loss on the disposal of individual assets is recognized in the year of disposal. PAGE 26
Canadian Western Agribition 2015 Show - Annual Report
CANADIAN WESTERN AGRIBITION ASSOCIATION notes to financial statements For the year ended January 31, 2016 Amortization Amortization is provided using the straight-line method at the following rates: Equipment, pens and facilities - signs, information booths and newsroom 10% - 50% Office furniture and equipment - furniture and fixtures 10% - 20% - computer equipment 20% - 33 1/3% - computer equipment under capital lease 20% Canada Centre lounge and east mezzanine leasehold improvements 5% - 20% Contributed Materials and Services Volunteers contribute many hours each year to assist the Association in carrying out its service delivery activities. In addition to donated time, friends and members of the Association donate materials and services that the Association would have otherwise had to purchase. Because of the difficulty of determining their fair value, contributed materials and services are not recognized on the face of the financial statements. However, management estimates that the fair value of contributed materials and services received by the Association related to the 2015 show was $206,415 (2014 show - $191,925). In recognition of these contributors, the Association provided $18,065 (2014 show - $11,516) worth of complimentary event passes and trade show space. 3. Financial Instruments The carrying value of the cash, short term investments, accounts receivable, and accounts payable approximates their fair value due to the short term maturities of these instruments. Credit Risk The Association is exposed to credit risk from potential non-payment of accounts receivable. To mitigate this risk, outstanding accounts receivable balances are reviewed by management on a regular basis. The maximum credit risk is $296,002 (2015 - $181,025), the fair value of accounts receivable. 4. Cash Cash includes an operating line of credit of $200,000 (2015 - $200,000) at an interest rate of prime plus 1.50%. At January 31, 2016 the operating line of credit is $nil (2015 - $nil). 5. Short Term Investments Short term investments consists of Guaranteed Investment Certificates from RBC and CIBC maturing or redeemable at various dates not exceeding 12 months, with the interest rates varying from 0.9% to 1.8%. (2015 - 0.8% to 1.55%). $1,000,000 of this balance has been internally restricted for investment in infrastructure and programming. PAGE 27
Canadian Western Agribition 2015 Show - Annual Report
CANADIAN WESTERN AGRIBITION ASSOCIATION notes to financial statements For the year ended January 31, 2016 6. Accounts Receivable Operating Fund 2016 Total 2015 Total $ $ $ Trade Receivables 298,502 298,502 183,525 Less allowance for doubtful accounts (2,500) (2,500) (2,500) 296,002 296,002 181,025 7 . Contingency Reserve Investments During the year $nil (2015 - $nil) was transferred to the reserve. The funds are invested in one short term GIC bearing interest of 1.0%, maturing July 9, 2016 (2015 - 0.90% maturing April 27, 2015 and July 9, 2015). The GIC is reinvested when matured. 2016 2015 $ $ Beginning of the year 225,000 225,000 Transfer during the year - End of the year 225,000 225,000 8. Capital Assets - Operating Fund 2016 Accumulated 2016 Net Book 2015 Net Book Cost Ammortization Value Value $ $ $ $ Equipment, pens and facilities 818,739 590,939 227,800 266,284 Office furniture and equipment 227,210 215,082 12,128 11,587 Canada Centre lounge and east mezzanine leasehold improvements 53,277 50,341 2,936 3,309 Total 1,099,226 856,362 242,864 281,180 9. Deferred Capital Contributions In 2012 the Association’s applications to access Federal and Provincial Government Funding on a cost share basis were approved. The program was the Livestock Traceability program. The deferred capital contribution will be recognized into revenue over 5 years, which is the same period the asset is depreciated over. $21,304 was recognized into revenue during the current year with the final amount of $21,305 to be recognized January 31, 2017.
PAGE 28
Canadian Western Agribition 2015 Show - Annual Report
CANADIAN WESTERN AGRIBITION ASSOCIATION notes to financial statements For the year ended January 31, 2016 10. Net Change in Non-cash Working Capital Operating Scholarship 2016 2015 Fund Fund Total Total $ $ $ $ (Increase) decrease in: Accounts receivable (114,977) - (114,977) 25,975 Accruals in short term investments (3,538) (2,012) (5,550) (7,944) Interfund accounts receivable (11,810) - (11,810) (33,692) Prepaid expenses (2,367) - (2,367) (17,461) Government remittances receivable 1,507 - 1,507 2,074 Increase (decrease) in: Accounts payable (5,481) - (5,481) 13,395 Interfund accounts payable - 11,810 11,810 33,692 Deferred revenue 3,880 - 3,880 20,115 (132,786) 9,798 (122,988) 36,154 11. Significant Contract In 1991, as a result of the discontinuation of the operations of the Casino, an agreement was reached between Regina Exhibition Association and the Government of Saskatchewan which guaranteed the Association $50,000/year until the year 2026 which is included in show revenue in the statement of operations. 12. Comparative Figures Certain of the prior year comparative figures have been reclassified to conform with the current year’s presentation.
PAGE 29
Canadian Western Agribition 2015 Show - Annual Report
AGRIBITION STATISTICS
ATTENDEE DEMOGRAPHICS
*Conceptual rendition of the International Trade Centre
B o x 3 5 3 5R e g i n a , S a s k a t c h e wa n , C a n a d a S 4 P3 J 8 P : 3 0 6 . 5 6 5 . 0 5 6 5F : 3 0 6 . 7 5 7 . 9 9 6 3 www . a g r i b i t i o n . c o m