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Police Museum is in Dire Financial Straits; Former NYC Board of Education President Ninfa Segarra "Resigns"
Is anyone providing the public with information on the coincidental timing of the publishing of the financial deficit and Ninfa Segarra's resignation? ![]()
New York Police Museum in Financial Trouble
STEFAN C. FRIEDMAN Courtesy of New York Post September 13, 2004 -- EXCLUSIVE LINK Despite a large influx of taxpayer cash, the New York City Police Museum has been forced to borrow hundreds of thousands of dollars to stay afloat and is still running in the red, documents show. In fiscal year 2003 alone - even with City Hall pouring more than $900,000 into the museum's coffers - officials borrowed $375,249. The museum ended the year with a $151,525 loss - with $1.73 million in revenue and expenditures of $1.88 million. And the 2003 numbers surprisingly represent a marked improvement from the years since Rudy Giuliani and then-Police Commissioner Howard Safir moved the museum from the Police Academy into its own space in 1998. The museum lost nearly $1.5 million in 2001 - when the city spent $4 million to move it to its current location at 100 Old Slip - and lost more than $350,000 in the first six months of 2002. Most of the 2003 loans - $268,762 - came from the New York City Police Foundation for a 9/11 exhibit. The museum's president, Pam Delaney, said, "We knew the museum was struggling to make a presence for itself and that we wouldn't be paid back for a while." The executive director, former Police Officer Mike Cronin, insisted that the museum's financial troubles are easing. He cited a large drop in operating losses from 2002 to 2003. Although attendance figures weren't immediately available, direct and indirect public support for the museum have increased four-fold over the past year. Ninfa Segarra, the former Board of Education chief who took over the museum six days before Giuliani left office, resigned from the post less than a month ago for what Cronin said were "personal reasons." |