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Updated: Monday, 15 Oct 2012, 7:41 PM EDT
Published : Monday, 15 Oct 2012, 4:18 PM EDT
NEWPORT NEWS, Va. (WAVY) - After 46 years in Newport News as a the city's largest attraction, financial issues on the horizon could close the Virginia Living Museum.
Summer flooding, lack of state funding and fewer revenues have created an economic storm for the museum. Officials say the museum has gone through its $2 million reserve fund and could see a dramatic end to funds by the end of this fiscal year at the end of next June.
"We're in need of $400,000 because of the cost of living increases," said Page Hayhurst, the museum's executive director.
The facility has reached out to the city to find new funding options. If no financial solution is found, Hayhurst says the future is grim.
"We believe we'll have to reduce our staff and when we do that, because each one of our staff members have to provide services for members and visitors, we will see a decline in our revenues that will eventually lead to us having to close," Hayhurst said.
Hayhurst says a committee of museum and city staffers is working on solutions to the cash crunch.
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