The Public makes £58k but costs hit £2.29m

Controversial Arts centre The Public made £58,801 in the past year – at the same time as the amount of taxpayers' cash put into the venue nearly doubled to £2.29 million.

Accounts show Sandwell Arts Trust, which runs the £72 million centre in New Street, West Bromwich, picked up £2.29m, or 87 per cent of its income, from Sandwell Council and Arts Council England for the year leading up to March. That figure compares to a total of £1.13m given to the centre in the seven months leading up to March last year.

The trust took over the management of the centre in September 2009.

Total income was around £2.6m. But after outgoings, including wages, overheads and creditor payments, bosses had £58,801 to show. That, on top of £219,222 cash held, was an improvement on just £192 it had at the same time last year.

Linda Saunders, managing director, said: "We are set up as a charity, not as a company looking to make profit. But we are working on conferencing to minimise public subsidy."

Cash flow from activities has fallen from £198,281 down to £74,278. Ticket sales dropped to £34,267 from £54,850. Conferencing brought in £174,893, with 240 events, up around 60 on last year.

Staff costs have tripled to £1.25m, despite bosses only adding nine staff to The Public's 38-strong workforce. The figure was swollen by the cost of redundancy for 10 workers.