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Fair Board hears October finance report showing revenue gains but tight spending
Summary
The Jefferson County Fair Board heard an October financial update showing year‑to‑date revenues of about $309,089 (54% of budget) and expenditures of $441,448 (63% of budget). Staff warned the board to watch categories above budget while noting a one‑time $19,000 sign payout and increased lottery distributions.
Gabe, the fair board’s financial presenter, delivered the October summary and told the board that fund 02/18 has received $309,089 year‑to‑date, roughly 54% of budgeted revenue, while expenditures for that fund are $441,448 — about 63% of budget.
"You've received $309,089. This is 54% of the budgeted revenue for the year," Gabe said as he walked the board through line‑item variances. He identified a $19,000 October expense as the final payout for the entry sign and said that the board should monitor categories flagged in yellow where spending is above the point expected at this time of year. He explained the mechanics staff uses to project year‑end figures and why beginning fund balances are often budgeted conservatively.
Board members asked whether recent increases in state lottery distributions would materially change the need for a budget amendment; staff said the new benchmark of roughly $79,783 (up from about $53,000 previously expected) will help but will not eliminate pressure in some expense categories. Staff described options for a budget amendment only if revenues exceed budgeted amounts enough to justify increased spending authority.
Members were told the county audit is expected to complete in January and that once audited beginning fund balances are available staff can consider amendments. The board did not take formal action on a budget amendment at the meeting and staff said they will continue monitoring revenues and bring any recommended changes back to the board.
