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Fair Board reviews year‑end finances; staff warns reserves dipped and quarterly amendments planned
Summary
Finance staff presented the June 2025 year‑end report showing expenditures of about $759,977 versus $737,000 in revenue; board agreed to use quarterly budget amendments and activity codes to clarify grant restrictions and to avoid surprises for future boards.
Gabe, the county finance presenter, told the Jefferson County Fair Board the fiscal year closed with expenditures of $759,977 — about 89% of budget — and revenues of roughly $737,000, meaning the fair used some carryover reserves.
"You brought in more than you were the fiscal year," Gabe said while explaining the year‑end spreadsheet and why small adjustments to accruals and a coming audit will slightly change the figures. He emphasized using activity codes for incoming grants so restricted funds show up clearly in the budget.
Board members pressed for clarity on restricted grant funds and how those amounts should appear in the starting budget for future years. John McCloskey said the quarterly budget amendment Gabe proposed would help: "Doing that budget amendment in September will help make it a much cleaner, clearer picture." The board also discussed taking the state budget law training to improve their oversight.
Staff noted the fair ended the year in a healthier position than expected despite using some reserves, and said a budget‑amendment process in September will capture late charges and properly allocate grant revenue so future carryovers are clearer.
The board did not take a formal vote on changes at the meeting but directed staff to proceed with the quarterly amendment process and to circulate the proposed changes ahead of the next meeting.
