Fair urged to modify accounting practices
SHREVEPORT, La. - Auditors say the State Fair of Louisiana could take several steps to improve its accounting practices.
Accountant James McClelland recommended the minor changes in a letter accompanying the fair's 2012 and 2013 audits made available by the legislative auditor's office.
The fair ended 2012 with slightly more than $936,000 in the bank, but dipped into that accumulated money to cover a $375,261 net operating loss in 2013.
The audit shows the fair's $700,000 reserve fund remained untouched in 2013.
McClelland didn't identify problems with the fair's control over its finances.
The fair's management board agreed with McClelland's recommendations and said the organization is making changes in its practices.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
State lawmakers to discuss proposed hazing bill
Keep carrying coins for downtown parking, no change planned yet
BREC Commission to discuss alternate location for the Baton Rouge Zoo
Louisiana lawmaker also wants restrictive abortion law
Fatal crash involving motorcycle reported on Nicholson Drive