Ballarat’s Museum of Australian Democracy at Eureka will apply for funding from the federal government in an effort to diversify its revenue streams.
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The museum is facing several challenges since a Ballarat City Council decision to only fund it for another 12 months.
Council will undertake a review of the museum’s feasibility during that time.
More than $1.05 million was allocated in the municipality’s draft 2017-18 budget.
The state government will also provide four years of funding to help the museum continue.
Chief executive Sarah Masters said works was being done to diversify the museum’s income.
“Council has decided to undertake a feasibility study, which is into our operations and their commitment to our organisation,” she said,
“That is part of normal risk management for a small organisation.
“Council has undertaken a substantial burden - the Eureka Story is an Australian story – council has made a great commitment to that story and carried a large share of the load.”
Ms Masters said about 54 per cent of the museum’s funding came from council, with 46 per cent coming from other sources.
“We are also working with Visit Ballarat, so we are very interested in improving our runs on the board,” she said.
“That means working collaboratively with people at Ballarat regional tourism, the art gallery, the gold museum and all the other cultural organisations in Ballarat.”
A review into the three-year agreements between council, Visit Ballarat, the Art Gallery of Ballarat and MADE was presented to councillors in March.
Collectively, the three bodies had received $6.2 million annually under the deal.
The review was developed in response to the pressures of rate capping and its effect on council’s revenue.
Visit Ballarat chief executive Noel Dempsey said Australia’s federation did not capture the public imagination in the same way the story of the Eureka Stockade or the First World War did.
“It is a challenging brand, so maybe that is what the review will come back with,” he said,
”It is a tough sell and not a well known brand.
“If it is not a destination in its own right, we can try to package it with other products on offer in Ballarat, which in large way could be Sovereign Hill.
“You offer a level of packaging up to make it compelling, you get the Sovereign Hill experience and then you go to MADE, so you get two for one.”