MADISON, Wis. (AP) - Circus World Museum officials say their financial situation isn't as bad as state analysts are making out.
A Legislative Fiscal Bureau analysis released last week said the museum's 2013 operating budget assumed expenses would outpace revenues by $97,500. The analysis said the museum's foundation planned to fill the hole with gifts and uncommitted endowment funds.
Foundation officials say the analysis was based on a proposed budget. The spending plan the foundation's board approved in December assumes the museum will generate $70,000 more than the preliminary budget estimated, resulting in a $29,335 shortfall.
The foundation plans to cover the deficit with $100,000 in gifts and endowments, resulting in a net balance of $70,665.
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