(Neb)-State Fair Finance Director Reisgns, Warns Of Possible Bankruptcy
GRAND ISLAND, Neb. (AP) - The finance director of the Nebraska State Fair has resigned, saying the fair may be on the verge of bankruptcy.
Patrick Kopke told the the fair board Friday that his concerns about excessive spending had not been addressed.
Kopke said the fair fair has lost money each of the last 2 years and projected that it's nearly %1.7-million dollars in the red - adding that it could be forced to file for bankruptcy next year.
Former Grand Island mayor Jeremy Jensen, who is chairman of the fair board's finance committee, told the Lincoln Journal Star that Kopke's projection was premature, in part because budget cuts are being made.
The fair board approved next year's budget shortly after Kopke's resignation Friday with Jensen estimating savings of about $600,000. Much of that comes from cutting as much as half of the state fair's roughly 20 person staff.
The Nebraska State Fair celebrated the 10th anniversary this summer of moving from Lincoln to Grand Island.
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