The Department of Agriculture will hire an accounting firm to do a financial audit of the Nova Scotia Provincial Exhibition Commission to ensure the commission is on solid financial footing.
“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,” said Agriculture Minister Keith Colwell.
“This step will help provide assurance to the Truro-Bible Hill community, and to various groups that use the facilities, that the commission has a viable future.”
The call for an audit comes after numerous unsuccessful attempts by the Nova Scotia Farm Loan Board to get financial information from the commission. The commission is a creditor of the board.
“This audit is not just about ensuring the farm loan board’s loan is paid, it is also about ensuring that the commission deals with its outstanding debts to all creditors,” said Mr. Colwell. “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.”