Title
AUTHORIZATION TO CHANGE THE GENERAL ADMISSION FEE
FOR THE FIELD MUSEUM
Body
To: The Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
It is recommended that the Board of Commissioners adopt an order authorizing an increase in the general admission fees to the Field Museum. The proposed general admission fee increase is to take effect on January 1, 2018. The museum has not increased its fees since the beginning of 2016.
II. Explanation
The proposed general admission fee increase is part of their financial plan and is needed to stabilize the Museum's financial position and build capacity. The facility is over 100 years old and has continued maintenance issues. In addition, the Museum employs 130 scientists who conduct original research. This expense contributes to higher operational costs than for other institutions. In addition, like any other business, personnel costs especially health care continue to increase. In the museum's 2016 fiscal year, admission revenues were approximately 28% of the total revenue and support as a result of the temporary exhibit entitled Terracotta Warriors, it is anticipated for fiscal year 2017 admission revenues will be approximately 23% of total revenue and other support.
Previously, the museum has reduced staffing levels, restructured its retirement plans and enacted cost saving measures related to utilities.
The proposed pricing structure will be competitive with Chicago's other major cultural attractions and will offer access to 91% of the museum's public space for the price of basic admission (510,000 square feet).
Despite budgetary constraints, the Museum hosted more than 167,000 teachers and students on free field trips from Illinois and had 52 days of free admission. In addition, the Museum recently provided a new benefit in which holders of EBT (Link) or WIC cards are charged $3 for basic admission for up to six people. In total, free admissions represent approximately $5.6 mill...
Click here for full text