NEW YORK: The Baraboo News-Republic reported Monday that through November the Circus World Museum Foundation’s operating revenue stood at $1.2 million, down about $308,000 from the previous Nov. 30. Expenses were down about $330,000, though, helping the foundation position itself to finish the year slightly ahead in net income.
Foundation officials cautioned their board during a Dec. 17 meeting that the numbers could change before the year ends.
“We’re still managing our cash flow very carefully month to month,” foundation board President John Lloyd said at the meeting.
Museum officials hoped year-end giving would boost their finances. Through Dec. 10, gifts were $60,000 short of the goal for the year. Other fundraising efforts have surpassed their goals, however. The Circus of Chefs gala, for example, generated $47,000 more than anticipated.
The board approved a 2016 budget that increases expectations for on-site revenue, including ticket sales and souvenirs, to reflect 2015 success in that area and confidence in the 2016 big top show.
The board also allowed management to temporarily pull money from library endowment and wagon endowment funds to pay bills in the spring, a time of year when cash flow dries up. Those funds will be repaid when summer revenue starts coming in.
“It’s simply allowing us to work through our short-term cash flow and know where our payroll is coming from,” treasurer Les Smout said. “We’re borrowing from ourselves, rather than an external source.”
