Colorado § 35-65-406 - Annual reports.

§ 35-65-406. Annual reports.

(1) Notwithstanding section 24-1-136 (11)(a)(I), the Colorado state fair authority and its board of commissioners shall submit copies of an annual report to the governor and the members of the general assembly on or before January 31 of each year or within ten business days after the legislative audit committee, or a successor committee, releases the Colorado state fair authority's financial audit, whichever is later. The report must include the following information for the fiscal year ending in the calendar year before the annual report is submitted and for the fiscal year preceding the fiscal year prepared in a comparison format and in accordance with generally accepted accounting principles:

(a) A statement of revenues and expenses resulting from:

(I) Operation of the annual Colorado state fair and industrial exposition events; and

(II) Operation of events on any of the facilities at the Colorado state fair and exposition that are not annual Colorado state fair and industrial exposition events;

(b) A statement of the financial position of the Colorado state fair and industrial exposition as of June 30 of each such fiscal year;

(c) A statement of outstanding revenue bonds issued by the board, including evidence of compliance with applicable bond covenants;

(d) A statement of cash flow for the Colorado state fair and industrial exposition;

(e) A summary of attendance for the Colorado state fair and industrial exposition;

(f) The number of annual Colorado state fair and industrial exposition events and the number of events operated on any of the facilities of the Colorado state fair and industrial exposition that were not Colorado state fair and industrial exposition events; and

(g) A statement of revenues and expenses resulting from the operation of the annual Colorado state fair and industrial exposition for the most recent period ending September 30, including a summary of attendance.

(2) The annual report submitted pursuant to this section shall include any recommendations for change in the statutes that the board or manager deems necessary or desirable, including but not limited to any change to part 14 of article 30 of title 24, C.R.S., and the "Procurement Code", articles 101 to 112 of title 24, C.R.S., necessary or desirable due to the unique nature of the Colorado state fair and industrial exposition.

(3) The report shall be public.

Source: L. 97: Entire section added, p. 813, § 2, effective June 30. L. 99: Entire section amended, p. 18, § 1, effective February 26. L. 2002: IP(1) amended, p. 879, § 12, effective August 7. L. 2003: IP(1) amended, p. 2014, § 111, effective May 22. L. 2021: IP(1) amended, (HB 21-1148), ch. 108, p. 431, § 1, effective September 7.