Posted at: 04/15/2013 7:47 AM
By: The Associated Press
FARMINGTON, N.M. (AP) - The first-ever audit of the Northern Navajo Nation Fair has found that the $36,000 in profit earned from last year's event could have been nearly triple that amount.
The Farmington Daily Times reports that the report released late last month by the Navajo Nation auditor general office found the fair could have managed its funds and activities better.
The fair's board had for 20 years refused to report its financial numbers because, as a nonprofit, it wasn't required to do so.
But the tribe's resources and development committee opened the door for the audit by deeming the fair board a for-profit organization.
The fair board hopes to resolve issues that they can address and already are looking toward this year's fair.
The board plans to submit a corrective-action plan.
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