New gallery revenue projections ‘ambitious’
SASKATOON As this city’s new art gallery prepares for its first full year of operation, a 2018 budget document acknowledges its planned revenue is “very ambitious” and an area of “vulnerability.”
The Remai Modern Art Gallery of Saskatchewan plans to raise nearly half of its operating budget in 2018, $5.3 million, from sources other than the city of Saskatoon’s funding of $5.5 million.
Overall, the gallery’s budget is expected to jump from $7.4 million this year, when the gallery will be open for just over two months, to $10.8 million next year. The city’s subsidy is expected to increase from $5.1 million in 2017 with the remainder of the difference coming from other sources of revenue.
To collect $5.3 million, the Remai will have to bring in more than 10 times as much as the $500,000 in non-city revenue the Mendel Art Gallery raised in its last full year of operation in 2014.
“Revenue projections are very ambitious and this is an area of particular vulnerability for the gallery,” the Remai Modern’s budget document says.
The gallery’s 2018 budget will be considered along with the rest of the City of Saskatoon’s 2018 budget, starting on Monday at city hall.
Concerns include “significantly” higher than expected costs for security, lower than expected revenue from food services and reduced arts grants in 2018. The gallery also failed to adjust the 2014 figures from its most recent business plan for inflation, which is expected to result in higher costs of $600,000 for 2018.
Gallery officials have identified $100,000 in saving and deferred hiring for 2.5 new full-time positions that were scheduled for 2018.
On the revenue side, the he gallery’s budget anticipates $353,833 more in admissions and membership sales in 2018 than the $146,167 that was budgeted for in 2017.
The gallery’s 2018 budget also projects triple the 2017 budget revenue for gift shop sales and the commission on the restaurant, bringing in $650,000 and $105,000, respectively.