Economy
The museum's financial risk is considered to be limited. The museum only has an investment in a securities fund with a market value of NOK 681,685, in addition to bank deposits. An interest rate swap agreement is attached to the bank loan of NOK 6,775,000 which runs until November 2021. The agreement was entered into to ensure a higher interest rate in the event of changes in the market interest rate. Installments are paid in accordance with the loan agreement. Bank loans with market interest rates have been satisfied by paying additional installments of NOK 1,025,000. Total interest cost in 2018 was NOK 482,837.
The museum has good management, financial control and liquidity. The Ministry of Culture provides basic funding for the operation with NOK 31,750,000. The Ministry of Health and Care has contributed NOK 7,250,000 to the National Medical Museum. For the operation and development of the Science Centre, the museum received from the Science Center Committee, appointed by the Research Council of Norway on behalf of the Ministry of Education, NOK 7,200,000. For the operation of the telecommunications area after merging with the Telemuseet, the museum received NOK 7,100,000 in grants from the Ministry of Transport. The museum has participated in a research project financed with public funds. The costs associated with the project are expensed. In addition, the museum's operation is financed by entrance fees, sales in the museum shop and other own income.
Total operating income in 2018 was NOK 85,499,460. This is NOK 8,114,242 below budget. The result for 2018 shows a deficit of NOK 1,285,075 which is covered by accumulated equity. The foundation capital and other equity capital are considered sufficient for continued operations. The accounts are based on the going concern principle, as the basis for this is present. The board believes that the accounts, together with the board's report, provide a fair overview of the development and results of the museum's operations and financial position.