Economy
The museum's financial risk is considered to be limited.
The museum has investments in mutual funds with a total market value of NOK 13,421,098, in addition to bank deposits. An interest rate swap agreement is attached to the bank loan of NOK 5,575,000, 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. Interest cost for the loan in 2020 was NOK 379,203. Through the merger of the foundations The Norwegian Museum of Science and Technology and The Norwegian Museum of Science and Technology 's fund in 2020, the share capital has been increased from NOK 14,000,000 to NOK 18,125,792. The merger resulted in in addition, an increase in accumulated equity of NOK 420,301. The museum has good governance, financial control and liquidity. The Ministry of Culture provides basic funding for the operation with NOK 33,340,000. To the National Medical Museum, the Ministry of Health and Care through the Directorate of Health contributed NOK 7,250,000. For the operation and development of the Science Centre, the museum received funding from the Science Center Committee, appointed by the Research Council of Norway on behalf of the Ministry of Science and Technology , NOK 8,250,000. For operating the telecommunications area, the museum received NOK 7,009,238 in grants from the Ministry of Local Government and Modernization. The museum has received extraordinary grants from the Ministry of Culture with NOK 9,200,000 and the Science Center Committee with NOK 1,182,973 in extraordinary support in connection with the Covid19 pandemic. In addition, the museum's operation is financed by entrance fees, sales in the museum shop and other own income.
Total operating income in 2020 was NOK 93,874,857. This is NOK 2,106,554 below budget. The result for 2020 shows a profit of NOK 2,880,291 which is added to the equity. The surplus is due to the postponement of a new medical exhibition and that extra subsidies due to Covid-19 to the Science Center came at the end of the year. 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.