Members of the Nassau County Budget Review Committee, headed by chairperson Legislator Lisanne Altmann (D-Great Neck), held a meeting today to gather information they hope will assist the Cradle of Aviation Museum in its efforts to becoming more financially independent.

Joined by officials for the museum as well as budget experts from the county, Legislator Altmann and members of the committee listened to about two hours of testimony that included the three-year financial history of the museum and plans for its flight into the future.

Speakers at the hearing included Sean Fanelli, Museums at Mitchel Chairman; Eric Ricioppo, president; Claudia Oakes, Chief Operating Officer; Ron Cooper, Museums at Mitchel Treasurer; and Andrew Parton, vice president of marketing.

“County taxpayers have a $40 million investment in the Cradle of Aviation Museum, and this year’s projected losses are approximately $1.6 million,” said Altmann. “My hope is that by conducting this informative hearing the legislature can work collaboratively with the Cradle over the next year to find ways in which this important institution can stand financially on its own.”

According to a May 2005 report issued by the Office of Legislative Budget Review, admission revenues have decreased by 26% from 2004 to 2005. The original agreement between Nassau County and Museum officials, called for the county to loan the museum $500,000 annually. In addition, this year the museum was supposed to begin repayment of the $2.5 million loan from the county, repaying over the course of eight years.

In its first year of operation, revenues from admissions at the museum were at the highest level. However, museum officials believe that the drop in admissions is due to the stagnant nature of the exhibits, the prior marketing techniques, and the fact that Nassau County is not a major tourist destination; all issues that the new administration is planning to change.

The Cradle of Aviation Museum is in is third year of operation and is under going significant managerial, contractual and operational changes. Currently, the Cradle is in the process of re-negotiating its operational contract with the County, according to Legislator Altmann.