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Fair Manager recommending the Board authorize the Chair to sign the 2018 El Dorado County Fair Budget in the amount of $1,285,029 as previously approved by the El Dorado County Fair Board of Directors at their December 6, 2017 Board Meeting. This amount represents total operating appropriations offset by $1,246,030 in operating revenue plus a $40,609 State funding allocation, and reflects a net gain before depreciation of $2,130 and net loss of $104,685 after depreciation.
FUNDING: No County funds are included in the Fair Association budget.
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DEPARTMENT RECOMMENDATION
Fair Manager recommending Chairman be authorized to sign the 2018 El Dorado County Fair Budget in the amount of $1,284,509 as previously approved by the El Dorado County Fair Board of Directors at their December 6, 2017 Board Meeting.
DISCUSSION / BACKGROUND
At its March 29, 2005 meeting, the Board of Supervisors entered into an agreement with the El Dorado County Fair Association, Inc., a general non-profit corporation, for the continued management of the County Fair. The term of the agreement was for five years with an automatic five year renewal each year following the completion of the first five years ("rolling" five year renewal).
Section 16 of the Agreement requires the Fair Association obtain the Board of Supervisors approval of its annual budget, showing estimated revenues and proposed expenditures from all sources during the ensuing calendar year. Chief Administrative Office notes that Section 16 of the Agreement requires the Fair Association to submit its budget to the State following approval by the Board of Supervisors.
ALTERNATIVES
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION
The Chief Administrative Office recommends the Board approve this item.
FINANCIAL IMPACT
The 2018 budget represents total operating appropriations offset by $1,246,030 in operating revenue plus a $40,609 State funding allocation, and reflects a net gain before depreciation of $2,130 and net loss of $104,685 after depreciation.
CLERK OF THE BOARD FOLLOW UP ACTIONS
Clerk of the Board to submit signed copy of the Fair budget to the Fair Association.
STRATEGIC PLAN COMPONENT
CONTACT
Jody Gray, Fair Manager