This is the eighth year for the festival, which boasts the largest fireworks display in the area, said Bryan Best, manager of the Perry Marina.
"People say Topeka comes close," he said. "But we're known to have the biggest fireworks display in the Midwest."
The festival begins at noon and includes a boat parade, live music from Brody Buster and Steelhorse, skydivers, and at 10 p.m., a fireworks display. The only charge is a $5 parking fee, Best said.
The U.S. Army Corps of Engineers is releasing 12,000 cubic feet of water per second from the reservoir, enough to drop the lake 1.3 feet per day, said Frank Funk, operations manager for Perry Lake. Most areas of the park will be open for picnics and camping.
"By Saturday, I think all boat ramps will be available," Funk said.
The park usually has 50,000 to 60,000 visitors for the Fourth of July weekend, Funk said, including about 13,000 who watch the Saturday night fireworks.
Funk said boaters should be careful of flood debris in the lake.
"With all this inflow, we've got quite a few logs," he said. "There's a possibility that there's still a few logs that might be floating low in the water in some places, so be cautious."
-- Staff writer Matt Merkel-Hess can be reached at 832-7187.