ADOPTED - NOVEMBER 25, 2008
Agenda Item No. 14
Introduced by the County Services and Finance Committees of the:
INGHAM COUNTY BOARD OF COMMISSIONERS
RESOLUTION TO AMEND THE 2008 FAIR FUND BUDGET
WHEREAS, actual 2008 revenues for the Ingham County Fair came in significantly under budget, primarily due to a decrease in off-season rentals and activities, and
WHEREAS, the current unrestricted fund balance in the Fair Fund (F561) is not sufficient to cover this shortfall, and
WHEREAS, a transfer from the General Fund to the Fair Fund is necessary to avoid a deficit fund situation.
THEREFORE BE IT RESOLVED, that up to $100,000 be transferred from the 2008 contingency account to the Fair Fund in order to avoid a deficit fund situation.
BE IT FURTHER RESOLVED, that the Fair will amend its 2009 budget with reduced revenue projections and amend its expense budget to stay within the revised revenue projections to ensure that no general fund appropriation is required to avoid a deficit fund balance in 2009.
COUNTY SERVICES: Yeas: Nolan, De Leon, Copedge, Soule, Grebner, Severino
Nays: None Absent: None Approved 11/18/08
FINANCE: Yeas: Grebner, Hertel, Celentino, Schor, Dougan
Nays: None Absent: Weatherwax-Grant Approved 11/19/08