The Utah State Fair Corporation runs the state fair and other events on the fairgrounds year-round. State Fair is an independent public nonprofit corporation. Subject to approval of the board of directors, the corporation may hold other exhibitions that, in its opinion, will best stimulate agricultural, industrial, artistic, and educational pursuits and the sharing of talents among the people of Utah. Utah's first state fair was held in 1856, just nine years after the pioneers arrived.
During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $4,267,400 from all sources for Utah State Fair Corporation. This is a 12.2 percent reduction from Fiscal Year 2015 revised estimated amounts from all sources. The total includes $675,000 from the General/Education Funds, a reduction of 47.1 percent from revised Fiscal Year 2015 estimates.
In addition to statewide compensation and internal service fund cost increases, the following appropriation adjustments were made during the 2015 General Session:
The Fairpark was privatized in 1995 based on the recommendations of a study committee directed to find a way to help the Fairpark become self-sufficient. However, the legislation allowed the new corporation to receive annual appropriations from the state until it could become self-sufficient. The state leases all 64 acres of Fairpark property to the corporation for $10 per year.
The Legislature assigned the State Fair appropriations process to the Natural Resources Appropriations Subcommittee at the end of the 2003 General Session. Funds are appropriated to the Department of Agriculture and Food for pass-through to the corporation.
Since 1995 the corporation has attempted various ways to increase revenues. These include having private groups build a science center, aquarium, and amphitheater, and bonding to construct a large multipurpose arena and sports facility. For various reasons these proposals have all fallen through. Other ideas, such as selling the property and moving the fair, have also been reviewed.
COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.