A recent audit of the International Civil Rights Center and Museum shows mounting debt and near-empty cash reserves. The Greensboro City Council began a review of the audit on Tuesday.
The struggling museum spent $2 million more than it took in over the past three years. Auditors point to declining donations, tour revenue and rental income.
The News and Record reports the museum needs a clean audit before the council can approve the final $250,000 installment of a $1.5 million forgivable loan from city taxpayers.
In addition to the existing debt and financial losses, auditors point to record-keeping weaknesses and issues with timesheets.
The audit also includes for the first time suggestions for fixing potential financial problems.
The City Council must now decide whether to lend the museum the final installment of the forgivable loan.
The museum has already received almost $5 million of taxpayer money to stay afloat since its founding in 1994.
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