4.87.050 Operating reserve.
(1) At the end of each fiscal year the department of budget and finance shall determine the total operating revenues and total operating expenditures of the Evergreen State Fairgrounds for that year, and determine if there are surplus operating revenues or if there is an operating deficit.
(a) For purposes of this section, total operating revenues shall consist of (i) monies paid to the county by the state or any other governmental entity for a fairgrounds purpose; and (ii) monies paid to the county as fairgrounds building, ground, or equipment licenses or rentals, as fairgrounds service charges, as fairgrounds admissions fees, or as payment for any other fairgrounds fee or charge. Total operating revenues shall not include funds received for a purpose unrelated to the fairgrounds, funds deposited into the account described in SCC 4.87.020(1)(a), and funds paid under a fair sponsorship agreement.
(b) For purposes of this section, total operating expenditures shall consist of county expenditures for fairgrounds purposes, plus a proportional share of nondepartmental overhead charges. Total operating expenditures shall not include expenditures for capital projects, debt service, or expenditures of funds paid under a fair sponsorship agreement.
(c) The department of budget and finance shall determine the difference between the operating revenues and expenditures described in subsections (a) and (b) of this section. Any operating revenues in excess of operating expenses shall be deemed surplus operating revenues. Any operating expenditures in excess of operating revenues shall be deemed an operating deficit.
(2) If the department of budget and finance determines that surplus operating revenues exist, the department shall deposit them into the account described in SCC 4.87.020(1)(b).
(3) If the department of budget and finance determines that there is an operating deficit, the department shall promptly notify the county executive and county council. If deemed appropriate to address an operating deficit, monies in the account described in SCC 4.87.020(1)(b) may be appropriated or made subject to a budget transfer in accordance with law. (Added by Ord. 96-062 § 5, Sept. 18, 1996, Eff date Sept. 30, 1996).