Rodeo Committee combining with Kiplinger

McCOOK, Neb. – At Monday's meeting, Red Willow County Fair Manager Jiles Bowman presented a plan to the Red Willow County Commissioners regarding the integration of the Rodeo Committee into the Kiplinger Fund, aiming to enhance financial transparency and optimize operational efficiency.

For several years, there has been confusion about the financial and operational structure of the Rodeo Committee. Historically, the committee has been functioning with its own separate checking account, using the county’s EIN number, but not directly under county oversight. This arrangement led to a lack of transparency and raised questions about insurance and budget management.

Bowman explained that additional insurance costing the county around $7,300 annually has been purchased to cover spectators at the rodeo, despite existing liability coverage through NIRMA, the county’s primary insurance provider. After thorough investigation, Bowman concluded that this extra insurance might be unnecessary, potentially saving the county a significant amount of money.

The Rodeo Committee, initially formed by the Fair Board many years ago, has operated somewhat independently, managing funds from ticket sales and sponsorships outside the county’s budget. This independence, while beneficial in terms of operational autonomy, created a financial oversight gap.

To address these issues, Bowman proposed the Rodeo Committee transfer its existing funds, approximately $20,000 to $25,000, into the county’s Kiplinger Fund. This fund will then be used to cover rodeo expenses, including payments to contractors and other operational costs. Any surplus will be reimbursed to the committee, ensuring they are fairly compensated for their efforts without losing the financial autonomy they have maintained.

Commissioner discussions highlighted the importance of transparency and accountability in this new arrangement. Bowman assured the commissioners that this integration would streamline financial oversight, allowing for clearer budgeting and expenditure tracking. Additionally, Bowman suggested that moving forward, the Rodeo Committee might consider forming an LLC. This would enable the county to contract them as an independent promoter, similar to how other fair events, such as the demolition derby, are managed.

The commissioners were generally in agreement with the proposed changes but emphasized the need for clear financial reporting and accountability, especially concerning ticket sales and sponsorship revenues. Bowman confirmed that under the new structure, these financial details would be meticulously documented and audited, ensuring compliance with county regulations.

In conclusion, Bowman’s proposal aims to bring the Rodeo Committee’s operations in line with county oversight while preserving their essential role in organizing the annual rodeo.