PROCEEDINGS IOWA FAIR MANAGERS ASSN. 187 



per cent and several between 30 and 40 per cent. I wish to add here that 

 your own state fair, according to this report, stood second only to the 

 Minnesota State Fair in receipts, attendance and cost of operation, and 

 paid out in cash premiums $7,563 more than any state fair in the United 

 States. 



Referring to the reports of our ninety-two county and district fairs, we 

 find that the expense of conducting these fairs in 1921 was $1,223,072.66. 

 This sum does not include $30,772.44, the cost of maintenance of grounds 

 and buildings, which in the end should be either added to the operating 

 expense or deducted from the profits. The expense of operation shows an 

 increase of about $8000 over 1920 and there were three less fairs held. 

 The total receipts of the fairs, including an increase of $44,677 in state 

 aid, were $1,275,802. This was a decrease of $141,802 as compared with the 

 receipts in 1920. The net balance on hand at the close of the year, of all 

 the fairs, showed a decrease of $102,643, and the interest-bearing indebt- 

 edness was increased $175,481. 



These figures are not quoted as a criticism of the fair managers, but I 

 do want to bring out the point that fairs in general have been spending 

 too much in putting on their fairs and should reduce their expense in con- 

 formity with the reduction in attendance and receipts, which is almost cer- 

 tain to continue for the next few years. 



This is where the budget system can be used to work out your problems. 

 Bj' eliminating the prosperous years of 1919 and 1920. and taking 1918 and 

 1921 as a basis for anticipated receipts, you can estimate somewhere near 

 what your income should be the coming year. The budgets should be made 

 up to come within the anticipated income. Budgets should be made up for 

 attractions, advertising, speed program, premiums, pay rolls for all depart- 

 ments; in fact, every department of the fair should be on a budget basis 

 if you hope to hold down the expense. These budgets can be worked out 

 by the secretary or a committee with the co-operation of the superintendent 

 of the department and, when once adopted, should be religiously adhered to. 



Uniform Accounting 

 There is one other matter that I was supposed to touch upon that, in 

 a way, will be of help in working out the budget system in future years. 

 That is the suggesting of a uniform accounting system for the fairs. I 

 realize that a great many of the county fair secretaries are business men 

 and do not have the time or the necessary help to keep an elaborate system 

 of books. I assume that what most of you are looking for is a simple sys- 

 tem that will enable you to keep an accurate account of your receipts and 

 disbursements properly classified with a minimum amount of work. The 

 system I would suggest is what is known as a special column journal and 

 ledger combined; one for a record of the receipts and one for disburse- 

 ments. 



As suggested by your program committee, I have worked out and had 

 printed a sample showing one opening of each of these journals. The orig- 

 inal entry in the journal of receipts is made direct from the receipts 

 written either by the secretary or treasurer. The entries in the journal of 

 expenditures are made from the voucher or check stub. This system is 



