Regina YMCA to update members on 'challenging year,' with debt rising to $5.1M in 2018

The Regina YMCA has accumulated $5.1 million in long-term debt after what CEO Steve Compton says was a "challenging year."

Now, members of the YMCA are being invited to an information session next Wednesday where "options and opportunities to stabilize" finances will be discussed.

"Without some changes, we cannot sustain our current operations and programming in the community," the email said.

The charity organization accumulated an additional $1.6 million dollars in debt between 2017 and 2018. It carried $3.4 million in long-term debt two years ago.

The YMCA said it had made several consultations in the aftermath of its annual general meeting in January.

Comptonsaid the debt level was affected by things like maintenance on facilities, membership levels and fixing the rooffor the downtown facility.

Now, the organization is inviting members to attend an informational session at the downtown location.

"The important piece is we had a challenging year last year and people wanted to be included and let in on the progress through the year," Compton said, explaining the meeting will explain how the YMCA plans to improve its operational efficiency.

The meeting will start at 6:30 p.m. on June 19.