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State Fair board adopts 2026 budget, approves $750,000 CDs at three banks to diversify investments
Summary
The Nebraska State Fair Board approved the 2026 budget and a plan to diversify investments by placing three low‑risk certificates of deposit of $750,000 each at Five Points, Pinnacle and FNBO; motions were approved by roll call during the Dec. 19 meeting.
Board Finance Committee Chair Boyd Strope and staff presented the 2026 budget at the Dec. 19 Nebraska State Fair Board meeting in Grand Island. John McKeever moved to approve the 2026 budget; Alan Kahle seconded the motion and the board carried it by unanimous roll call.
The board also approved a proposal to diversify Fair investments into low‑risk certificates of deposit. The plan calls for $750,000 deposits at each of three current Fair partner banks — Five Points, Pinnacle and FNBO — to reduce concentration risk while keeping funds liquid. The motion to approve the investment diversification was moved by Kevin Havlovic and seconded by John McKeever; the motion carried.
Board members praised staff engagement in the budgeting process and noted weekly finance committee reviews shared bank balances, payables and general ledger details. The board approved other routine financial motions during the meeting, including consent items and the November 2025 financial statements.
