Indiana ? An annual Wizard of Oz festival that once attracted 75,000 fans of the classic film to see the actors who played Munchkins has been cancelled, its organizers announced Friday.

Brenda Maynard, president of the Indiana Wizard of Oz Festival, said the low turnout at September’s event caused by heavy rains and flooding was part of the decision to end the festival after 27 years.

“When you add to that the tough economy everyone is up against right now, as well as the advancing age of our Munchkin guests, who are one of the primary reasons this festival is so beloved, we had to make a decision that it’s time to retire the festival,” Maynard said.

At this year’s festival, only three Munchkins from the 1939 film were still alive and well enough to attend. As many as 15 actors who played Munchkins attended the festival during its peak years.

Jean Nelson founded the festival in 1981 after inviting Parnell St. Aubin, who played a Munchkin in “The Wizard of Oz” movie, and his wife, Mary Ellen, to an autograph party at her Chesterton shop and museum, The Yellow Brick Road Gift Shop. Eventually, the festival grew to include a parade and costume contests.