Nova Scotia’s Department of Agriculture announced on Tuesday, January 28 that it will be hiring a firm to undertake a financial audit of the Nova Scotia Provincial Exhibition Commission.
The NSPE owns and operates the 65-acre, multi-purpose exhibition facility in Bible Hill, which is home to Truro Raceway.
As an article by the Truro Daily News explains, the province held a press briefing on Tuesday regarding the matter.
The province issued a press release after the briefing. The release has quoted the province’s agriculture minister, Keith Colwell, as saying, “An audit will help the commission's new board of directors get a clear understanding of its current finances and help them chart a path to a sustainable future.”
It was announced earlier this month that longtime horseman and NSPE Board member Bruce Kennedy has taken over as chairman of the organization.
The announcement regarding Kennedy was followed by news that the province’s agriculture minister would be reviewing the NSPE.
Today’s report from the Truro Daily News states that the NSPE is roughly $1 million in debt.
“I commend the commission’s new board of directors for its efforts to ensure the long-term viability of the commission and its facilities, and am confident an audit will help ensure that,” Colwell was quoted as saying in Tuesday’s release.
(With files from the Truro Daily News)