EIGHTH ANNUAL YEAR BOOK— PART IV. 



171 



money they expend for tickets will be used; that not needed for current 

 expenses and premiums, in building up the institutions and adding to 

 its permanence and utility. Three hundred thousand dollars in round 

 numbers, has been used in bettering the facilities and grounds the last 

 six years. 



The finances of the department are in excellent condition, as the re- 

 port of the finance committee appointed by the executive council, will 

 show. There is now in the treasury substantially $35,000.00 — $15,000.00 

 in the reserve fund and $20,000.00 in the working fund. The total re- 

 ceipts from all sources at this year's fair was $104,356.75, being about 

 six per cent less than the receipts for 1906 ($6,000.00 in actual figures). 



To show the constant and rapid growth of the institution, the receipts, 

 cash premiums paid, improvements made, and the condition of the 

 treasury at the close of each fiscal year is given for the past six years: 



d t» 



(HO 

 "cSO 



1902.. 

 1903* . 

 1904. . 

 1905. . 

 1906.. 

 1907*. 



i 63,084 

 59,838 

 66,138 

 84,121 

 110,929 

 104.356 



S21,736 

 23,813 

 24,691 

 28,730 

 31,703 

 35,504 



47,000 



$ 37,000 $ 25,936 

 17,855 

 12,640 

 11,963 

 30,035 

 41,391 



75,000 



$159,000 



$139,820 



$ 62,936 

 17,855 

 59,640 

 11,963 

 30,035 

 116,391 



$30,372 

 28,963 

 29,657 

 39,976 

 50,294 

 35,327 



* Rainy week. 



It will be seen that the management has kept well within its re- 

 sources in the expenditure of funds. In fact each year, at the first 

 board meeting, a reserve fund of $15,000.00 is set aside for the next season 

 to guard against any deficit and to guarantee the payment of premiums. 

 We would also call your attention to the increased amount paid out in 

 premiums each year. The aggregate increase paid for this purpose in 

 the past four years has been about $48,000.00. This is in accord with 

 the policy of the board — to increase the amount of cash premiums by 

 a more extensive classification of the prize lists as the revenue from 

 our fair receipts grows, keeping in mind that the Iowa State Fair and 

 Exposition is not maintained for any pecuniary profit but for the prac- 

 tical information received through an inspection of the exhibits. 



A complete statement, giving in detail the receipts and expenditures of 

 the department for the fiscal year ending November 30, 1907, will be 

 appended and made a part of this report. 



FARMERS' INSTITUTES. 



There were two less institutes reporting and receiving the state aid 

 for the fiscal year ending June 30, 1907, than for the preceding year. 

 Seventy-eight of the ninety-nine counties reported as having held insti- 



