Mich. Comp. Laws § 453.341

Sec. 1. When an association, organized for the purpose of holding agricultural or other fairs or exhibitions in this state, receives a grant of public money from the state, or a county, city, village, or township, in aid of the fair or exhibition, the secretary of the association shall make a report of the fiscal transactions of the association covering the fiscal year including the receipts and expenditures relating to the annual fair or exhibition. The report shall consist of the following categories: (a) Revenues. (b) Salaries. (c) Prize moneys disbursed. (d) Improvements. (e) New equipment and property purchased. (f) Other expenditures. (g) Balance of funds in the treasury of the association.