Ventura County Joins City Of Ventura In Helping With Bailout Of Financially Troubled Museum
A financially troubled museum in Ventura County is getting a reprieve, in the form of a cash infusion from some local government agencies.
The Museum of Ventura County has been losing between $400,000 and $600,000 annually for the last few years, and has exhausted almost all of its reserves. The museum is developing a new management plan to try to get back on track, but its leaders say they need financial support to make it work.
Ventura County Supervisors agreed Tuesday to give the Museum $125,000 to help. The City of Ventura had committed $125,000 early this month, contingent on the county stepping up as well. Both amounts are well under what the Museum had requested, but officials with the non-profit think they can leverage the commitments into an additional $250,000 in support from the community.
County Supervisors approved the funding on a 4-1 vote, with Supervisor Peter Foy dissenting. He says while he supports the museum’s efforts, he’s skeptical of the bailout effort, and doesn’t want to risk taxpayer dollars.