The report from independent charity York Museums Trust stated its cash reserves cover less than two months of operating costs, leaving it unable to afford improvements and reliant on council support.
Trust chief executive Kathryn Blacker said in the report the city’s museums and galleries were at a critical juncture as concerns mount over the condition of its buildings.
Councillors were set to discuss the report at the Children, Culture and Communities Scrutiny Committee on Tuesday, April 1.
It comes as the trust, which operates the Yorkshire Museum, York Castle Museum and York Art Gallery, is set to end the financial year with a £111,000 deficit, up from £54,000 in 2023-4.
A £1 million line of credit from York Council is set to run out next year as costs for repairs including fixing leaks in the Yorkshire Museum’s roof continue to mount.
This year’s budget is set at £321,000 which accounts for falling visitor numbers.
The council gives £300,000-a-year to the trust, down from £600,000 in 2015 and £1.1 million in 2014.
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