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Consider approving an increase of $116,620 in the Solano County Fair Association's (SCFA) CY2016 Adopted Budget, for a total of $2,979,650; Approving the SCFA's CY2017 budget totaling $2,992,373, including capital expenses; Approving the extension of the term of the Agreement for the Management and Operation of the Solano County Fairgrounds to expire January 31, 2020; and Authorizing the SCFA to pursue federal and state grant and other revenues and delegating to the County Administrator approval of associated applications
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
It is recommended that the Board of Supervisors:
1) Consider approving an increase of $116,620 in the Solano County Fair Association's CY2016 Adopted Budget, for a total of $2,979,650;
2) Consider approving the SCFA's CY2017 budget totaling $2,992,373, including capital expenses;
3) Consider approving the extension of the term of the Agreement for the Management and Operation of the Solano County Fairgrounds to expire January 31, 2020; and
4) Consider authorizing the SCFA to pursue federal and state grant and other revenues and delegating to the County Administrator approval of associated applications.
SUMMARY:
The Solano County Fair Association (SCFA) operates on a calendar year budget and per the Agreement for the Management and Operations of the Solano County Fairgrounds, the following budget items are forwarded to the Board of Supervisors for concurrence and approval. Due to increased business activity and unanticipated equipment and facility repairs, the SCFA Board of Directors approved on October 19, 2016 an $116,620 increase in its CY2016 Budget for a total of $2,979,650. The CY2016 Budget projects a net profit before depreciation of $78,029. The CY2017 SCFA Proposed Budget totaling $2,992,373 was approved by its Board of Directors on October 19, 2016. The CY2017 Budget projects a net ...
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