Port Fairy's Moyneyana Festival will make a comeback this summer with the annual New Year's Eve parade set to go ahead, but a funding shortfall has put the fireworks in doubt.
Festival president Neil Hedger said planning for the "slightly scaled back" version of the event was well under way.
"It's all go, go, go," Mr Hedger said.
"We're having the parade, the only thing I'm not sure on the moment is the fireworks. We haven't got the $20,000 to run it."
And, Mr Hedger said, they had "no hope in the world" of coming up with the money needed to stage the fireworks at 9pm and midnight.
The cancellation of this year's Port Fairy Folk Festival meant the Moyneyana Festival lost one of its income streams. "We're only relying on the shire and other money we've raised," he said.
Mr Hedger said the organisers had decided spending $6000 on hours of musical entertainment for the Fiddler's Green was better value for money than $20,000 on 12-minutes of fireworks.
Good Faces for Radio - which had the crowd "fair jumping" a few years ago - would return to perform New Year's Eve, while other performers would take to the stage during the three-week festival.
The length of the festival has been cut back to three weeks and will finish mid- January.
"It's slightly scaled back, we won't be going the full five weeks. And we haven't got the manpower," Mr Hedger said.
"At the moment it is up to three or four of us to organise and keep it running.
"We are looking for more volunteers to help out with the craft days and everything else. The more people we get to help the better."
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Mr Hedger said the parade has been given the OK to proceed, and the call has now gone out to clubs to enter floats for this year's nostalgia- themed event.
"We've cut back the categories...and we're cutting it back to one lap," he said. "We're busting to go."
There will be the usual food stalls, but people attending the parade are encouraged to social distance and wear a mask if you can't.
"The only time we will ask for double vaxxed is if it's inclement weather and we have to go into the lecture hall because then we are in council facilities," Mr Hedger said.
This year's will offer craft days for the kids, wood work, bubble making, bands, children's music lessons and they hoping to have an animal fun farm.
Mr Hedger said the usual carnival would not return this year though. "Most of them have let their insurances lapse," he said.
"We're in the same boat, we've got to struggle to try and get money to pay the $5000 in insurance to run the festival.
"There's money down the drain before you even look at too much else. You've got to have public liability otherwise we can't exist."
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