State Fair losing money, needs help from lawmakers
DENVER — The government entity that runs the Colorado State Fair had another year of operating losses and needs additional tax money to ensure the event’s survival, according to an audit released today.
The Colorado State Fair Authority had a $2.8 million operating loss last year — a loss that was $400,000 more than the year before, the audit said. That means it has been more than 10 years that the State Fair has experienced operating losses.
Attendance has declined during the last two years, fair officials say. The annual average attendance has been close to 500,000. The audit recommends that fair officials seek funding from the Joint Budget Committee, but it did not specify how much.
The audit said the Fair Authority has had operating losses for such a long time that the Colorado State Treasury recently had to grant it special authorization to maintain a deficit cash balance.