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Jan 17, 2012 5:19 PM by Greg Boyce

Audit: State Fair lost $380,000 last fiscal year

The State Auditor reports the Colorado State Fair lost $380,000 in the fiscal year ending on June 30, 2011.

"Overall, we're pleased with the results of the audit," said Colorado State Fair General Manager, Chris Wiseman. "Every year we strive to provide educational opportunities to the half-million fans that attend the Fair, but that doesn't always provide a high revenue stream; we are constantly working to balance our mission to support youth and agriculture with the need for a positive bottom line."  Wiseman told News 5 this afternoon the 11-day fair made a profit of over $900,000.  He said the loss came during the rest of the year.  He blamed the red ink on increased utility bills and payroll costs.

"The Colorado State Fair generates $30 million in economic activity across the state annually and that is a tremendous benefit to the people of Colorado. Our staff and management are dedicated to offering a wide range of educational and entertaining opportunities while fine tuning our business practices," continued Wiseman.

The Fair will celebrate the 140th Colorado State Fair this August.

 

 

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