The Strathmore and District Agricultural Society was pleased to announce they are debt free and ended the year with a balanced budget in 2014. One of the ways that was done, according to President Brad Walls, was by making sure monies coming in and out of different departments were being properly allocated to give a true financial representation of the Society. “What we decided this year, our administration team, we worked some of where the money was going to make it a better reflection of what each department actually cost, what the revenue was and reallocate those expenses to what was really costing those monies, and what programs were making,” said Walls. “We had some expenses that were being charged to the general grounds maintenance when it was specifically not for that project.” In the past the Society had opted to keep their debt due to low interest rates. “The board decided it was very important for us to be debt free and we paid off our existing loans and currently we are 100 per cent debt free, which is something we’re very proud of,” said Walls. “The previous administrations have done a very good job of cutting costs and running very tight, lean ship and as a result we’re now the ones that are reaping the benefits of having no debt, which is very important.” In addition to a balanced budget, and being debt free, the Society also turned a profit, and is at the point of again possibly having a conversation about what people would like to see. One example is a multi-use facility. “We say multi-use, we’re talking about multi-facet almost. So it will have the potential for indoor events for rodeos, or cattle penning, we’re really trying not to say this is what it’s going to look like; we’re saying, what is going to be the best thing for us and obviously what’s going to make it so we can make money as well,” said Walls. Discussions will be ongoing to determine different ways the Ag. Society can become a year-round facility.