The museum’s building needs remedial work, and the layout and visitor experience could be improved. We are considering what refurbishment work the building will need, along with the possibility of rearranging the museum’s layout.
The community has told us they want a more financially sustainable Council. In response, we’ve been looking at possibilities for a new operating model for the Faraday. Final decisions on the future of the museum would be subject to a business case.
Under this option the operation of the Faraday would be the responsibility of a charitable entity (trust), which would need to be established. This would give the ability to attract extra external financial support that the Faraday cannot currently access while it operates as a Council business unit.
The trust would receive a one-off capital grant of $1 million towards the refurbishment of the Faraday’s building, to help the museum develop a sustainable future.
The $500,000 yearly operational grant would go towards the Faraday’s costs. The museum would also bring in some income from fees and charges.
The Faraday’s volunteers would continue to play an important role in keeping the museum running, alongside a small group of paid staff.
Under this option, the charity would not have ready access to money for needed refurbishment work, therefore this is not Council’s preferred option. As with Option 1, the $500,000 yearly operational grant would go towards the Faraday’s costs. The museum would also bring in some income from fees and charges. The Faraday’s volunteers would continue to play an important role in keeping the museum running, alongside a small group of paid staff.
Under this option, the Faraday would remain a Council-run facility. It would continue to receive rates funding to support its operation. Costs of the required refurbishment work would still need to be met by ratepayers. Therefore, this is Council’s least favoured option.
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OPTION 1: Hand over the running of the Faraday Museum of Technology to a charitable entity (trust). Give the charity a one-off capital grant of $1 million and a $500,000 yearly operational grant.
