The DIA is involved in a fierce debate over its finances in advance of the Aug. 7 election, and has been using fundraising proceeds to subsidize its operations instead of adding to its $132 million endowment as planned, the Detroit News reports.
The museum says it won't deplete the endowment, and that if voters don't pass the 10-year, 0.2-mill issue, the DIA would run out of other funds to support operations within two years. The tax, on the ballot in Wayne, Oakland and Macomb counties, would raise $23 million a year, compared with the museum's operating budget of $25.4 million in fiscal year 2012.
Tax opponents say the museum is misleading voters about its financial health and has other options besides asking for a levy.
Read more:
Detroit News
