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Funding agreement approved for Key City Theatre Society
City of Cranbrook council June 13 approved entering into a five-year funding agreement with the Key City Theatre Society to provide funding for operations.
Funding begins January 1 and expires December 31, 2026, committing the city to funding $100,000 for 2022 and $120,000 for 2023 through to 2026 ($580,000 total).
The society has expressed an interest in locking in the operating funding they receive from the city for a period beyond the one-year horizon that has been established under the Agreement, a city Corporate Services/Finance department report noted.
Each year, the society submits an application under the city’s Grants-in-Aid program. The amount agreed to by council represents the fulfillment of the city’s financial responsibility under the agreement.
For 2022, the society had requested $120,000; council approved $100,000.
e-KNOW file photo
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