Medicine Hat Stampede says it doesn’t need to reveal finances, has positive economic impact

General Manager Ron Edwards made the arguments Friday in response to criticism levied against the Stampede by residents earlier this week.

“We are not asked to give out our financial statements to the public,” Edwards said at the Stampede office.

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“But saying that, we have two partners, the province, which we do, we give them an audited financial statement every year, as well as the City of Medicine Hat.”

Critics told CHAT News this week they find the Stampede’s ask for millions in taxpayer dollars unacceptable without further financial transparency.

While similar organizations in Calgary, Red Deer and Lethbridge all publish financial information, the MHES gives only limited access — such as in a document included in a council report.

City council deliberations are expected by the end of March on a request from the Stampede for funds to help it fix a broken grandstand. The Stampede wants the city and Alberta government to each pitch in 40 per cent.

Another proposal from the Stampede requests up to $23 million from the city for a larger project that would include building out a multi-purpose room and various other additions and maintenance.

Craig Elder, a wealth advisor and Medicine Hat resident, said earlier it’s “a huge dollar amount without having any oversight or accountability”, especially for an organization that receives $400,000 per year in operational funding.

Elder and former chamber president Milvia Bauman said this week that the organization needs to allow members of the community to sit on its board with voting power.

A report from Serecon Inc. proposes a governance structure “that which is not controlled entirely by the MHES.” It proposes the organization’s board feature six community-controlled seats and four from the Stampede.

Edwards did not respond to those comments on Friday.

The general manager did, however, point out the Stampede’s role as a local economic driver.

“We support probably over 100 businesses within this community that hire over 1,000 employees, who I’m sure pay taxes to the City of Medicine Hat,” Edwards said.

Proposals from the Medicine Hat Stampede and Exihibition include maintenance on the south-end grandstand. File Photo/CHAT News

The Stampede, he said, employees 18 full-time employees and 50 to 75 part-time employees who all pay taxes locally.

“We do our fair share of trying to support the City of Medicine Hat tax department,” he said.

A report from Serecon Inc. says the Stampede had a $14 to $17 million impact to the Alberta economy in 2023, combining gross domestic product, wages, salaries and taxes.

Critics say it’s unfair for the Stampede to ask for cash from the city when it lease the land it occupies for $1. Under a recently-renewed agreement, the organization will continue the low-cost lease until at least 2046.

Edwards also pushed back on comments he’s heard that the Stampede is “standing still”.

“Last year, since COVID, we brought in everything back that we used to do in 2019,” he said.

In 2024, the Stampede held Cars and Guitars and “Indian Relay Racing” — two new events returning in 2025.

This year, the Cypress Farm and Ranch Egg Show is coming to the Stampede grounds in June. In August, the RCMP ride is returning, among other events at what Edwards pointed out is a bustling events hub.

“So we are busy, we bring a lot of events to town,” he told CHAT News.

“Maybe ask the business, the hotels, restaurants, service stations, retailers: where would you be if we weren’t here? We do support a lot of employees and I think a lot of retailers within the community throughout the year.”

Medicine Hat city council is expected to deliberate on the Stampede’s requests by the end of March.

by Eli J. Ridder

Medicine Hat Stampede says it doesn’t need to reveal finances, has positive economic impact

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