2014 Annual Report for the Western Fair District

NOVEMBER 12, 2014 Page 1 of 21 11. C.13 - CW INFO NOVEMBER 12, 2014 Page 2 of 21 11. C.13 - CW INFO WESTERN FAIR DISTRICT 316 Rectory Street, P.O. Box 7550, London Ontario N5Y 5P8 2014 Annual Report 519.438.7203 or 1.800.619.4629 NOVEMBER 12, 2014 Page 3 of 21 11. C.13 - CW INFO

Racing Music Cover: the raceway made Starting February 4th history this year when it and running every other conducted the first race Tuesday, 18 local bands of the newly formed participated in the Standardbred Alliance Free Music Scene on April 1, 2014. Tuesdays at Yuk Yuk’s. Bands showcased their The Raceway Facebook talents for a chance to page has 3,471 fans. open for a headlining 1,784 horses raced an act at the annual fair. equivalent of 1,400 miles Five of the Fair’s nine during the course of opening acts were bands the season. who performed at the The Paddock’s 124 stalls District’s newest can accommodate 12 races music event. with 8-horse fields, as well as Lasix and test stalls. NOVEMBER 12, 2014 Page 4 of 21 11. C.13 - CW INFO

HONOURARY PRESIDENTS SENATORS

The Honourable Gerry Ritz MICHELLE CAMPBELL, Chair Minister of Agriculture and Agri-Food Canada Jan Delaney John Ferris The Honourable Kathleen Wynne Hugh Filson Minister of Agriculture and Food Bill Grieve Denny Lang The Honourable Jeff Leal Ken Levy Minister of Agriculture, Food and Rural Affairs Al Marr Karl Nevin John White BOARD OF GOVERNORS Gary Williams

DON McCALLUM, Chair TIM KELLY, Vice Chair SOLICITOR Janet Carr Ray Chowen Tim McCullough, Harrison Pensa Tom Cowan J. Robert Cowan, Q.C. (Honourary Solicitor) Joe Dales Jim Hunter Councillor Harold Usher LIFE MEMBERS Joanne Vanderheyden Michelle Campbell (As Chair of the Senators) Dorinda Greenway Josh Morgan (As President of the Programming Council) Bernie MacDonald Pauline Richards Bill Young PROGRAMMING COUNCIL

JOSH MORGAN, President DENISE HODGINS, Vice President Councillor Bill Armstrong Councillor David Bolton David Brent Heather Broadhead Councillor Denise Brown Al Edmondson Carrie Fraleigh de Schutter Steve Holmes Warren Hoy Dave Little Dianne McComb Larry Rosevear Warden Joanne Vanderheyden Don McCallum (As Chair Board of Governors) CHAIR’SNOVEMBER 12, 2014 MESSAGEPage 7 of 21 11. C.13 - CW INFO

Things change and yet they remain the same. This past year has been challenging in many respects for Western Fair District. However, through challenge comes opportunity. We now have in place a much more stable financial base with a new Racing Alliance. This does two things: it brings stability to the racing industry and it assists Western Fair District in long term planning which supports our vision of a strong regional racing hub.

It was exciting to host the Premier of Ontario, the Honourable Kathleen Wynne, at the Farm Show in March. It was the first time in many years the Minister of Agriculture and Premier visited the show. The visit is a testament to the regional strength of our agricultural society, as evidenced by the number and size of our agricultural events and the great number of farming industry attendees. An important part of our mandate is to have these events grow and prosper.

The renovations to the Agriplex, our showcase facility, were approved and begun late in our fiscal year. As a key point of our future plans this improved and enhanced building will greatly benefit the London region for many years to come.

We have continued to move forward with our approved strategic vision for the site. To that end, a new, open, and more inviting layout for the annual fair was developed, utilizing the space freed up from the timely demolition of the IMAX, Special Events, Link and old administration buildings. There is also greater, more efficient and usable parking for our many and varied events and shows.

New shows and events in the year included the London Pet Show, the first Provincial Fighting Championships in the District and a new operator named Continuum for the London Boat, Fishing & Outdoor Show. Continued and significant progress occurred with the London Wine and Food Show and The Beer and Barbeque show.

It has been a distinct personal pleasure to serve as Chair of the Board of Governors this past year. Special thanks must go to my colleagues on the Board for your skills, enthusiasm, dedication and pursuit of excellence in governance of the Western Fair Association. We, as governors’, appreciate the strength of the District is our people. It is that strength that enables us to provide good governance to the District.

Our organization’s 147 year history is certainly evidence that we have stood the test of time and have proven to be a survivor. As I look forward, it is my belief that the Western Fair Association has a bright future and, as in the past, we will continue to tackle whatever comes our way, in a positive and professional fashion. As an organization, we will not lose sight of our vision to be recognized as the preferred centre for year-round agriculture, entertainment, education, sports and gaming activities in South-western Ontario, and the customers we serve can continue to count on us to always provide entertaining experiences that enrich their lives and the community.

Don McCallum Chair, Board of Governors NOVEMBER 12, 2014 147Page 8th of 21Annual 11.Report C.13 - CW INFO

The fiscal year ending June 30, 2014 was one of steady progress for the District. Our commitment to serving our agricultural mandate; fortifying our brand as an entertainment District for southwestern Warriors’ Day Ontario and upgrading our grounds and facilities has seen positive forward momentum through the latest fiscal period. The contributions The Association’s Board of Governors continues to oversee the Western Fair District’s affairs on and sacrifices made an ongoing basis with integrity and financial responsibility, while ensuring the autonomy, financial by Canadians during independence and long term viability of the organization. Supported by the Programming Council and Senate, these bodies never lose sight of the organization’s Vision and Mission. An overview the Korean War, of the year’s financials and achievements is provided in the following report. were recognized on the event’s 60th Annual Fair The Association’s signature event, the annual 10-day Western Fair, maintained its status as a Top Anniversary during 100 event in the province and was one of 23 major events in Ontario recognized with a Level of the 2013 Warriors’ Distinction Award by Festivals and Events Ontario. Day Parade. Staff organized a successful one-day job fair for approximately 350 temporary fair positions in advance of the family fun event. This was the first time in many years that a pre-fair job fair had been completed and it drew numerous qualified individuals. The 137th Western Fair dueled with Mother Nature throughout the event’s 10-day run, experiencing just about everything she could dish out. A heat alert, severe storm and record cold snap wreaked havoc on the fall classic. A new chapter went into the fair’s history book when a storm and tornado warning on Wednesday of the fair required officials to evacuate patrons off the grounds to the safety of buildings, losing the Stampeders concert and closing the grounds completely by 8pm. It was the second year of free concerts located inside the midway, with a revamped location and stage at the southeast corner of the main lot. The concert line-up boasted Hanson, Victoria Duffield and Fefe Dobson, Loverboy, Bleeker Ridge and Monster Truck, Lights, The Stampeders, Doc Walker, Down with Webster and The Mavericks. Agriculture Programming was enhanced with a new exhibit called A Walk Through Agriculture, which received an International Award from the Association of Fairs and Exhibitions and quilts were reintroduced as a community showcase display with plans to create new fibre art competitions for the fair after a ten-year hiatus. A ten-day gross attendance of 170,142 was disappointing to Association members, in comparison to the previous year’s total of 194,262.

Racing The Raceway, at Western Fair District, holds an important and established place in the Ontario horse racing industry. The 2013 Fall Live Racing Season began earlier than expected with five additional programs being offered at the London oval in September, the opening day taking place at 7:05 p.m., Saturday, September 21, 2013. Fans returning for the season noticed a change on opening night as Shannon ‘Sugar’ Doyle became the new voice of The Raceway after serving as Track Announcer and Assistant Race Secretary at Northlands Park in Edmonton. Greg Blanchard, previous track announcer accepted the position of Raceway Manager. Capital improvements were made to the Top of the Fair Dining Room just prior to the racing season and customers responded favourably to the improvements in both the facilities and the menu. The numbers compared to last year were strong, especially during the traditionally slower months of March, April and May. NOVEMBER 12, 2014 Page 9 of 21 11. C.13 - CW INFO Western Fair One of 23 Major Events in Ontario recognized with the Level of Distinction Award by FEO.

170,142 Fair visitors. 16,503 Fair Facebook fans. 2,459 Community Access Program card holders. 1,320 Students participated in school tours. NOVEMBER 12, 2014 Page 10 of 21 11. C.13 - CW INFO

The Raceway enjoyed positive results throughout the race season on the wagering side despite another tumultuous year in the industry. A total of $28,831,298 was wagered over 114 programs, as Farm Show compared to $28,784,404 which was wagered over 131 programs during the 2012/2013 season. That translated to an average handle per card of $252,906, up from a per-card average of $219,728 Kathleen Wynne, the previous season, a 15% increase. Premier of Ontario The highest handle in more than 15 years occurred on Friday, January 3rd, when fans poured and Minister of more than $536,000 through the mutuel windows. The Raceway played host to the Ontario Regional Driving Championship in May. This was the second time that The Raceway had hosted Agriculture and the championship. Jody Jamieson, who won at The Raceway the first time, claimed the title over Food, attended Billy Davis Jr. Both reinsmen went on to represent Ontario at the National Driving Championship in the event to speak Charlottetown. The Raceway, at Western Fair District, made history when it conducted the first race of the newly with farmers from formed Standardbred Alliance on Tuesday, April 1, 2014. The new racing model and innovative across the province co-operation of Ontario racetracks was deemed critical to the re-birth of racing in the province. in advance of the The Horse Racing Partnership Plan, is the Government’s five-year plan to invest up to $500 million to support a world-class horse racing industry in the province. “This plan is the result of a true Ontario farming partnership. Everyone involved, government, horse people, breeders and track operators have season. worked to put in place a shared vision. I’m confident this plan will not only create a sustainable racing industry in Ontario, but will create jobs and provide more opportunities for success. Ontario is now the most innovative jurisdiction in North America for horse racing.” Stated Kathleen Wynne, Premier and Minister of Agriculture and Food. Critical to the success of the plan was the formation of an innovative, world-leading alliance of standardbred tracks including Woodbine, Mohawk, Flamboro Downs, Georgian Downs, Western Fair, Clinton, Hanover and Grand River. The tracks will work together to implement operational efficiencies, co-ordinate a year-round racing calendar, develop a program of racing that is attractive to foreign and domestic customers, and establish consistent purses. Killean Acres was inducted into The Raceway’s prestigious Wall of Fame during a ceremony on Friday, May 23rd. Jack McNiven was on hand, along with friends and family, as he and his late brother Don were honoured for their tremendous contributions to the sport of harness racing in Southwestern Ontario. The Molson Pace once again highlighted the racing season on closing day, Friday, May 30th. The $150,000 contest drew what is widely considered the best field ever for the event and it was State Treasurer defending his Molson title with a dramatic come-from-behind victory for driver Chris Christoforou. The handle on the Molson Pace itself was a record $117,000, up from $98,000 in 2013. The overall handle of $404,000 was also a Molson Pace night record Other significant happenings at The Raceway included the removal of the infield tote board and concert stage and the installation of a new, upgraded tote system as part of the Ontario Standardbred Alliance.

Agriculture The Annual General Meeting held October 23, 2013, brought together members of the agricultural Association. A highlight of the evening was the awarding of the Jack Davis Volunteer Award to Pauline Richards, a Life Member of the Association and long serving volunteer in agriculture and horticultural initiatives of the annual fair. Western Fair District is committed to agricultural awareness through creative programming and events. In this past fiscal year, eight major agricultural events were hosted in the District. The Region NOVEMBER 12, 2014 Page 11 of 21 11. C.13 - CW INFO

18 – Arabian Horse Show, Fall Fest Arabian Horse Show, Forest City Yearling Sale and the Junior Beef Expo all took place in the Agriplex. Junior Beef Expo which grows each year and supports Sports Centre future farmers is a partnership event that saw 172 juniors participate with 245 head of market and breeding cattle at the annual event. As well Western Fair District owns and operates the London The London Knights Farm Show, All Equine Ontario’s Premiere Equine Show, London Poultry Show, the traditional call the WFD Sports school tour program and 10-day agricultural education significant to the annual fair. With the Centre their official successful beginning of the Standardbred Alliance of which The Raceway at Western Fair District is a member, the organization’s long-serving commitment to racing’s large agri-business continues. practice facility. The London Farm Show celebrated its 76th year and attendance and exhibitor interest remained strong with the show expanding into the Agriplex Arena. The show is now the largest Spring Farm 234,139 Show in Eastern Canada. The event was presented by Farm Credit Canada (FCC) and boasts a Number of players showcase of agricultural exhibits, displays, seminars, and entertainment that rivals its competitors. that hit the ice. Farmers in the region have supported the show throughout its history, thanks to the event’s variety and diversity, its attendees reflecting the wealth of farming in the south-western Ontario region 45,425 Litres and beyond. Kathleen Wynne, Premier of Ontario and Minister of Agriculture and Food, joined by Deputy Premier and MPP London North Centre, Deb Matthews attended the event to speak of water makes with farmers from across the province and take in hundreds of exhibitors, products, services and one ice rink. equipment all in anticipation of the 2014 Ontario farming season. Within a month of the Premier’s and Deputy Premier’s visit to the London Farm Show, Federal 120 Kilometers per Minister of Agriculture, Gerry Ritz attended a London Chamber of Commerce event at the Western hour speed of the Fair District, bringing both the Federal and Provincial Agriculture Ministers to the District within the fiscal year. average hockey shot. The tradition of marking the annual induction of worthy recipients into the Middlesex Agricultural Hall of Fame continued, recognizing Peter Lewington, T. Alex Edwards and James Murby for their 160 Kilometers per significant contributions to the agricultural industry in Middlesex County. hour NHL player’s All Equine - Ontario’s Premier Equine event, boasted the show’s first three-day Trainers Challenge hockey shot. which provided a unique opportunity for three of Canada’s top trainers to put their skills to work, demonstrating their abilities and techniques training an un-broken horse. Also new to All Equine was an Extreme Cowboy Competition which was very well received. Attendance and exhibitors were up from the previous year. Thousands of poultry farmers, industry partners and suppliers attended the 57th year of the Poultry Industry Conference and Exhibition, the largest in the history of the event. The two-day show is a blend of trade show and professional development featuring networking opportunities, a wide array of products & services, guest presentations and informative seminars. With 57,000 square feet of exhibit space and more than 170 booths, the Poultry Industry Conference & Exhibition is recognized as a must-do event for anyone associated with this important agri-business. The annual Western Fair’s School Tour Program saw a full program of educational PODs (Place of Discovery) and great attendance. 1,320 students took part in the program which featured six pods, covering such topics as, milking, egg and chicken production, grains for life, equine massage – horse, hands and health, wetlands, and modern sheep shearing. Agricultural programming for the fair’s large urban audience included a rodeo which had crowds packed to the rafters for its three- day run, 4-H programming, reigning and mid-west horse shows, an international award winning attraction – A Walk Through Agriculture, created for the 2013 fair, as well as displays on dairy, poultry, grains, environment and honey bees. The Western Fair Farmers and Artisans Market is another well respected agricultural initiative in the District. This market, run by an independent operator, is a fan favourite in London, with over 3,000 NOVEMBER 12, 2014 Page 12 of 21 11. C.13 - CW INFO All Equine For the first time in Eastern Canada and the District, The Trainer’s Challenge, a unique educational experience showcased three of Canada’s top trainers, three horses and three judges demonstrating their abilities and techniques training an un-broken horse. NOVEMBER 12, 2014 Page 13 of 21 11. C.13 - CW INFO

visitors every Saturday. The market continues to flourish and has spun many start-up vendors out onto the commercial corridor of Dundas Street, establishing their own successful store fronts. This Yuk Yuk’s has enhanced the vibrancy of the Old East Village and economic development in the area.

15,834 comedy Events and Facilities loving patrons With the organization dedicated to a master site plan that will improve functionality, modernize facilities and enhance customer experience over the next few years a number of initiatives were 177 Yuk Yuk’s shows initiated within the fiscal year. The Master Site Plan’s Phase Two B was completed, which saw the fit-up of parking lots, landscaping 153 comedians and site lighting in areas where the demolition of the IMAX Theatre, Special Events Building, Link and Old Administration Building’s once stood. The demolition of these facilities took place 3 comics per week throughout the summer of 2013, supported by Board and management, to better control escalating utility, maintenance and capital costs with the aging facilities. Demolition of the Infield’s Grandstand Stage and The Raceway’s old Tote Board made way for the installation of high-voltage systems and I.T. for future business opportunities, as well as upgrades and additions to the Infield Shop and formal landscaping of the beautified Winner’s Circle. That last major capital project which started in this fiscal was the major renovation of the District’s 160,000 square foot Agriplex. Operational infrastructure was put in place to better accommodate all types of shows, along with full heating, ventilation and air conditioning and additional washroom facilities increasing the building’s occupancy capacity to 5,000 people. This modernized structure will continue to support agricultural events on-site, as well as a number of new events and uses to further its effectiveness for the organization’s consumer/trade show business. It is scheduled for completion October 2014. A number of new events took place within the District. The Color Run, a marathon type event where participants are doused with different colours of powder as they hit milestones throughout the run. Old East Village Fall Festival and concert in the park, two Provincial Fighting Championships, a Snow Sports Pro Camp, RONA Contractors Trade Show, The Franchise Show, The Festival of Trees, hosted by the Ontario Library Association, Paderno Cookware Sale, Solidarity Day, a Native Culture event that took place in Queens Park as well as a two job fairs for different local organizations. These new events were complimented in the District’s event calendar by a number of annual and regularly scheduled events. This was the first year of the London Pet Show, presented by Purina®, and owned and operated by the District. It was a great opportunity to meet and learn about a number of different types of pet animals. Creature comforts and products were available for all types of animals, as well as a professional purebred dog and cat show, guest speakers and a super adoption event. The event took place October 18-20, 2013 in the Progress Building, showcasing animals of all kinds, as well as grooming, boarding, health and nutrition, animal care, exercise, pet spas, treats, toys and other pet services. A new London Boat, Fishing & Outdoor Show, ran Feb 21-23, 2014 focusing on boats, fishing, hunting lodges and all things outdoors. The event expanded into the Agriplex Pavilion and Arena, making it the largest boat, fishing & outdoor show to ever come to London. New partners, Continuum, operate the event with the support of WFD and also produce the Central Ontario Boat Show & Sale in Hamilton which is currently ranked one of Canada’s top five boat shows. Western Fair District uncapped its second Beer and BBQ Show, June 20th, 21st & 22nd, just in time for the summer season. With a successful first year in 2012 the event’s reputation grew, exhibitor base matured and the event moved to the Canada Building with an expanded outdoor area and NOVEMBER 12, 2014 Page 14 of 21 11. C.13 - CW INFO Food 250,369 food transactions took place at WFD eateries. 12,412 meals served at the Top of the Fair. 5,024 Deep fried items sold through the Deep Fry It truck at the annual fair. NOVEMBER 12, 2014 Page 15 of 21 11. C.13 - CW INFO

concert stage where Juno Award winning band Sloan performed as well as other local artists. Over 100 different beers and beverages from all around the world, and many fine craft breweries from Boat, Fishing across south-western Ontario were available to sample. Great BBQ prepared by a variety of grill & Outdoor masters, as well as live cooking demos, beer seminars, entertainment, summer sports, games, activities and accessories were on display throughout the weekend. Show London Golf Show and Sale moved to a new date, presented a new look and a new home in the Progress Building February 14th & 15th, 2014. More exhibitors, golf equipment, courses, demonstrations and The District’s new travel options were available at the modified event than the previous year where it existed within the partnership with Sports and Recreation Show, which was discontinued with much of the recreational aspects now being covered under the umbrella of the London Boat, Fishing & Outdoor Show. Continuum brought London Wine and Food Show presented a bigger, better and tastier wine and food experience. the largest London The event expanded by 25% to take over the West Annex and Canada Buildings as well as its Boat, Fishing & original home in the Progress Building. More high-end, wine and food experiences were presented which complimented the eclectic mix of industry experts, culinary masters and educational tasting Outdoor Show sessions. It has become a must do event in the region with attendance growing annually. to the Agriplex. Yuk Yuk’s Comedy Club boasts two-and-a-half years of operation in the District. The club was host to over 15,834 comedy loving patrons this past year, along with many fundraising groups who took advantage of this unique venue to raise funds for local community and charitable organizations. Starting in February and running every other Tuesday, the club saw 18 local bands participate in the Free Music Scene at Yuk Yuk’s. The battle of the bands showcase, provided an opportunity to show-off their talents for a chance to open for a headlining act at the annual fair. Five of the bands were selected which will help each to promote themselves and provide valuable experience to local grassroots entertainers. The Western Fair Sports Centre saw the launch of some new events and the return of others during the year. London’s first Hockey Helps the Homeless hockey tournament took place in May, in support of London’s homeless outreach partners: Unity Project, Merrymount Family Support and Crisis Centre and Youth Opportunities Unlimited (YOU). The 2014 inaugural event raised over $260,000 in gross revenue. The Ontario Electrical Utility Hockey Tournament returned to the Sports Centre, raising $10,000 for KidSport. A new tournament to London was the London Rising Stars tournament hosted by Regional Express (Draft Day Hockey). The Brantford based organization expanded their tournament offerings and noted the Western Fair Sports Centre was the venue of choice for the London area. A rebranding of the Sports Centre’s onsite restaurant took place this past year. The new name of Deke’s was launched in the spring with a refreshed look and true hockey vibe. In September 2013 Total Package Hockey (TPH) partnered with Blyth Academy London. Blyth Academy London is a private school for students from grades 6-12. All student athletes participate in daily workouts and hockey skill sessions with TPH at the TPH Training Centre. After training, students attend class at Blyth Academy located in the Western Fair Sports Centre. This past year a partnership was formed between the Western Fair Sports Centre and the London Knights Hockey Club with the Harvey’s Rink now the official practice pad for the London Knights. Along with this came a sponsorship agreement to help increase sponsorship revenue to the facility.

Community Western Fair District’s broad objective according to our mission statement is, as a non-for-profit Agricultural Society, to provide programs, events and facilities that meet the evolving educational, NOVEMBER 12, 2014 Page 16 of 21 11. C.13 - CW INFO

recreational and entertainment needs of the community. As a strong and vibrant organization we add to the quality of life of Londoners and surrounding Pet Show communities by enhancing and growing our year-round entertainment and recreational offerings, modernizing, expanding and maintaining the Association’s grounds and facilities for the community, Western Fair District while serving our agricultural mandate through our signature event and a series of agricultural presented London’s events throughout the year. first pet show. Visitors Western Fair District is made up of members who are the root and foundation of who we are and what we do. Our membership helps ensure our organization continues to be respected as a enjoyed professional community based agricultural association. purebred dog Our membership is made up of agricultural and community organizations and at-large individuals. shows, cat shows, Their participation aids in the governance of one of the region’s most dynamic and diverse not- for-profit organizations through a Board of Governors, Programming Council and Senate. These guest speakers and governing bodies guide staff in the oversight of a year-round, multi-faceted agriculture, entertainment, an adoption event, education, sports and gaming destination. as well as animals of A further positive extension of the people who are part of the organization and the communities it serves, are its volunteers. Members and citizens interested in supporting the many events and all kinds, grooming, community initiatives of the District, support our efforts through numerous hands-on jobs throughout boarding, health, the year, including work with the annual fall fair. The organization values our volunteer’s many efforts nutrition, exercise, and looks to grow its volunteer base in future years. This past year Western Fair District supported many local community organizations and charities treats, toys and pet with donations and services. A strong relationship has been established with the London Public service exhibitors. Library and their summer reading programs. In addition, our staff have supported a number of internal United Way fundraising events and Days of Caring in our local community, attending to flower beds and mulching at Family Services of London and Middlesex, planting trees along Veterans Memorial Parkway and McHappy Day for Ronald McDonald House. Our Community Access Program for persons with disabilities who wish to access Western Fair District owned and operated events and entertainment for free or discounted admission has been very successful to date. With 2,459 card members currently, the program makes a small difference in the lives of individuals and families who cannot access entertainment without a support person and are living on fixed incomes. At the present time, this program is administered by the Western Fair District, for the Annual Fair and all other WFD owned and operated events, as well as the Lifestyle Home Show and London Nationals hockey games in the Sports Centre. Western Fair District began the process of developing a summer Agriculture Leadership Intern Program this fiscal to replace the Fair Ambassador Program which no longer resonates with young people. The Ag Intern will be selected from a slate of candidates applying for the position who are pursuing an agriculture career through current academic pursuits. The incumbent will be tasked with developing innovative new agricultural programing for the annual fair, as well as new resources and programming relevant to grade 3-6 curriculums for the Agricultural School Tour Program and work in partnership on innovative ag-education links for relevant consumer and trade shows in the District. NOVEMBER 12, 2014 Page 17 of 21 11. C.13 - CW INFO

WESTERN FAIR ASSOCIATION Consolidated Statement of Financial Position

June 30, 2014, with comparative information for 2013

2014 2013 Assets Current assets: Cash $ 3,604,755 $ 3,862,333 Restricted cash 1,667 37,891 Accounts receivable 1,048,726 801,423 Prepaid expenses 72,280 144,838 Advances to joint venture ( ) 154,990 124,520 4,882,418 4,971,005 Restricted investments (notes 5 and 10 2,002,554 - Note receivable 197,651 237,651 Investment in joint venture 1,101,664 1,731,207 Capital assets (note 7) 49,131,428 47,402,070 $ 57,315,715 $ 54,341,933 Liabilities and Net Assets Current liabilities: Accounts payable and accrued liabilities $ 2,732,737 $ 2,661,840 Deferred revenue 803,657 704,883 Current portion of long-term debt ) 9,218,060 7,782,435 Current portion of obligations under capital lease ( ) 25,186 20,256 12,779,640 11,169,414

Obligations under capital lease 42,991 56,734 Deferred capital contributions 194,269 219,659 Employee future benefits 575,765 629,477 Net assets: Unrestricted 43,723,050 42,266,649

Commitments Contingencies

$ 57,315,715 $ 54,341,933 Full Audited Financial Statements Available Upon Request NOVEMBER 12, 2014 Page 18 of 21 11. C.13 - CW INFO

WESTERN FAIR ASSOCIATION Consolidated Statement of Operations

Year ended June 30, 2014, with comparative information for 2013

2014 2013

Revenue: Racing and gaming (including Province of Ontario transition assistance of $2,384,000, 2013 - $1,170,000) $ 5,545,123 $ 12,163,030 Fall exhibition 2,091,589 2,222,725 Facilities rentals 8,211,082 3,194,468 Association shows 1,860,679 1,731,355 17,708,473 19,311,578

Expenses: General, administrative and operating 14,820,417 15,432,352 Interest on long-term debt 226,863 302,716 15,047,280 15,735,068 2,661,193 3,576,510

Other income 387,939 401,084

Management fees from joint venture 226,972 214,801

Equity in earnings of joint venture and other (note 6) 343,052 328,827

Excess of revenue over expenses before amortization 3,619,156 4,521,222

Amortization of capital assets 2,162,755 4,059,053

Excess of revenue over expenses $ 1,456,401 $ 462,169 Full Audited Financial Statements Available Upon Request NOVEMBER 12, 2014 Page 19 of 21 11. C.13 - CW INFO

WESTERN FAIR ASSOCIATION Consolidated Statement of Cash Flows

Year ended June 30, 2014, with comparative information for 2013

2014 2013

Cash provided by(used in):

Operating activities: Excess of revenue over expenses $ 1,456,401 $ 462,169 Adjustments for: Amortization of capital assets 2,162,755 4,059,053 Amortization of deferred capital contributions (25,390) (25,399) Increase (decrease) in employee future benefits (53,712) 144,677 Earnings from joint venture (343,052) (328,827) Change in non-cash operating working capital (note 15) (35,544) (25,273) 3,161,458 4,286,400

Financing activities: Repayments of long-term debt (925,924) (2,450,118) Proceeds from long-term debt 2,361,549 1,312,000 Decrease in obligations under capital lease (8,813) (18,611) 1,426,812 (1,156,729)

Investing activities: Addition to capital assets (3,892,113) (429,597) Proceeds from notes receivable 40,000 40,000 Purchase of investments (2,002,554) - Distribution from joint venture 972,595 - (4,882,072) (389,597)

Increase (decrease) in cash (293,802) 2,740,074

Cash, beginning of year 3,900,224 1,160,150

Cash, end of year $ 3,606,422 $ 3,900,224

Represented by: Cash $ 3,604,755 $ 3,862,333 Restricted cash 1,667 37,891

$ 3,606,422 $ 3,900,224 Full Audited Financial Statements Available Upon Request NOVEMBER 12, 2014 Page 20 of 21 11. C.13 - CW INFO Sports Entertainment Aside from the sport of racing and ice sports Western Fair District visitors enjoyed the successful debut of Provincial Fighting Championships in the Agriplex Arena. NOVEMBER 12, 2014 Page 21 of 21 11. C.13 - CW INFO WESTERN FAIR DISTRICT 316 Rectory Street, P.O. Box 7550, London Ontario N5Y 5P8 2014 Annual Report 519.438.7203 or 1.800.619.4629