Yearly, the show culminates the weeklong celebration conducted by the club.
On Monday, Rotary Club of Brazil officials met with Brazil Mayor Brian Wyndham and Brazil Fire Department Chief Jake Bennett to discuss the issue.
Bennett said based on other decisions made by surrounding counties, he felt it would be best to postpone the event.
"I don't think it's a wise choice," Bennett said.
Aerial Arts owner Mark Adamson, who is licensed with the Rotary Club to produce the show, said while there was probably a "1 percent chance something would happen," he agreed.
"It's like a tinder box out there," Adamson said. "You never know what might flare up at 2 a.m. (the following morning)."
Wyndham said the decision to postpone the event was difficult.
"Nobody wins. Everybody loses," Wyndham said. "But I don't see the risk/reward being in our favor. I hope people understand."
Wyndham said the safety of residents was the prime reason for postponing the event.
"If something does happen, we're all going to have egg on our face," he said. "Everybody around us has postponed (fireworks displays). We don't want to catch anything on fire."
Rotary Club of Brazil President-elect Mary Jo Alumbaugh said she was comfortable with any decision officials made.
"We'll do whatever the city decides," Alumbaugh said. "We understand the situation."