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

RESOLUTION #08-310

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