Economy
The museum's financial risk is considered to be limited. The museum has investments in securities funds with a total market value of NOK 13,153,461, in addition to bank deposits. The bank loan of NOK 6,175,000 is subject to an interest rate swap agreement that runs until November 2021. The agreement was entered into to secure an upper interest rate in the event of changes in market interest rates. Installments have been paid in accordance with the loan agreement. Interest expense for the loan in 2019 was NOK 412,968.
The museum has good management, financial control and liquidity. The Ministry of Culture is responsible for basic financing of the operation with NOK 33,273,532. The Ministry of Health and Care Services, through the Directorate of Health, has contributed NOK 7,250,000 to the National Medical Museum. For the operation and development of the Science Centre, the museum received NOK 7,700,000 from the Science Centre Committee, appointed by the Research Council of Norway on behalf of the Ministry of Education and Research. For the operation of the telecommunications area, the museum received NOK 6,734,366 in grants from the Ministry of Transport and Communications. In addition, the museum's operation is financed by entrance fees, sales in the museum shop and other own income.
Total operating revenues in 2019 were NOK 90,859,634. This is NOK 2,752,366 below budget. The result for 2019 shows a surplus of NOK 2,525,950 which is added to equity. The foundation capital and other equity are considered adequate for continued operation. The accounts are based on the principle of going concern, as the basis for this is present. The board believes that the accounts, together with the board's report, provide a true and fair view of the development and results of the museum's activities and financial position.