The YMCA of Regina says it’s “optimistic” about their future.
In a letter to its members this month, the association said they’ve found efficiencies to keep their programs and services running.
“We’ve turned a really important corner,” said YMCA of Regina CEO Steve Compton on Monday.
“We’re very happy to go back to the membership to say we didn’t have to do anything radical related to the facilities or programs, and in fact hopefully we can continue and build on them in the new year.”
Earlier this year, the YMCA announced it was facing a long-term debt of $5.2 million and that it was at risk of becoming insolvent in 2020.
However, Compton said they’ve discovered new efficiencies – including scheduling and operational changes – that will save them money. Additionally, a new facility fee will be levied on memberships on a bi-weekly basis starting Feb. 29.
Youth memberships will increase by 50 cents, family memberships will increase by $1.50, and individual memberships will increase by $1.
Men’s plus membership fees will increase to $68.95 bi-weekly.
The YMCA noted these increases will increase their cash flow over the next three years, and there will be no immediate facility closures.
These changes still do not address any major capital improvements needed outside of daily operations.
The YMCA previously stated their downtown facility would require $12 million to modernize.
Recent costs like a roof replacement at their downtown facility and boiler repairs at the northwest Y have contributed to the association’s debt.
The association says capital improvements will remain a priority to meet the needs of the community.
Additionally, they’ll be looking into fundraising and will develop a new strategic plan for the association that will be more sustainable moving forward.
The public is invited to three upcoming open houses that will address the YMCA’s vision moving forward.
They take place on Dec. 17 at 5:30 p.m. to 6:30 p.m. at the East YMCA, Dec. 18 at 5:30 p.m. to 6:30 p.m. at the Northwest YMCA and on Dec. 19 at 11:45 a.m. to 1 p.m. at the Downtown YMCA.
Comments