100 IOWA DEPARTMENT OP AGRICULTURE 



under the control of the board, and the percentage of depreciation to be 

 deducted from each building and the equipment annually. 



Each year to the value of the buildings will be added any outlay for 

 additions or repairs of a permanent nature and from this an annual de- 

 preciation will be deducted. 



This will enable the department to publish as a part of the financial 

 statement, the assets and liabilities, and the present worth of the fair 

 ground property. 



To give this convention some idea of the value of the state fair plant 

 I present the following: 



The committee that appraised the value of the real estate — 283 1-3 acres 

 — placed it at $375,070. The buildings and other property already placed 

 upon the books as assets amount to $672,853. To this must be added 

 $75,000 for the Women and Children's building now in process of con- 

 struction and provided for by state appropriation, making the total val- 

 uation of the plant $1,122,923, which is approximately correct but may 

 vary one way or the other when the inventory is complete. 



"The present investment of the state of Iowa in the fair grounds prop- 

 erty, including the original appropriation of $50,000, for the first frame 

 buildings and the appropriations since 1902 for permanent buildings and 

 additional ground total $475,111. The surplus or profit to the state on 

 account of the investment amounts to $647,812." In other words each dol- 

 lar invested by the state is represented by $2.40 worth of property. This 

 surplus or profit is accounted for by the thousands of dollars invested 

 annually in permanent improvements from the profits of the fair and from 

 the increased value of the real estate. 



FINANCES. 



The total receipts of the 1913 fair were $188,832.10, an increase of $4,130,- 

 89 over the 1912 fair. The receipts of fair from sources other than ticket 

 sales amounted to $57,967.35, a decrease of $1,978.11 from the receipts from 

 the same source of the 1912 fair. The receipts from ticket sales were 

 $130,864.75, an increase of $5,109.00 over the sales of the 1912 fair. 



The total disbursements of the 1913 fair were $146,740.02, or an in- 

 crease of $2,771.13 over the 1912 fair. The net profit on the 1913 fair 

 amounted to $42,092.08, a slight increase over the profit on the 1912 fair. 

 The largest item of expense was for cash premiums paid, amounting to 

 $61,069.90, an increase of $2,930.75 over amount paid in premiums at the 

 1912 fair. Other items of expense are set out in detail in the attached 

 statement of receipts and disbursements. 



