The museum's annual report shows it fully met or exceeded 56 of its 59 "service performance" targets, with two others also partly met.
Financial reserves amounted to $13.3 million in the year ending June 30 last year, up from $11.6 million the previous financial year.
Most of the museum's financial reserves involve trust funds or special funds tagged for specific purposes such as publications and research, or linked to specific collections, such as costumes.
Dunedin City Council funding for the museum during the financial year ending June 30 this year has been frozen at last year's level: $3.7 million.
Financial support from other local authorities included: Central Otago District Council ($25,253), Clutha District Council ($183,874), and Waitaki District Council ($50,505).
Otago Museum Trust Board chairman Graham Crombie said in a foreword the museum was "operating in a difficult financial environment".
The museum also envisaged operating in a "similar environment for the foreseeable future" and was focusing on strategies to produce "positive outcomes".
Chief executive Shimrath Paul said the museum had experienced a "highly successful yet demanding year".
The museum's service performance goals were achieved in a host of areas, ranging from overall attendance to developing a staff intranet system, maintaining collection care and building international links.
The museum easily reached its somewhat conservative target of attracting 300,000 visits - achieving 460,000 visits, down slightly from 475,000 the previous financial year.
Museum organisers also made eight approaches for grants and sponsorships, gaining about $25,000, and exceeding their target of five approaches.
However, the museum did not meet its target of making at least five fundraising approaches involving museum development plan projects.
One approach was made, resulting in a grant of about $45,000 for the Nature Gallery development.
Other projects had not progressed to the point where limited potential sources of fundraising warranted being applied for, the report noted.
The museum aimed to review business and marketing strategies for the museum shop, and to maintain the same level of business.
Officials said the shop and cafe posted a combined profit of more than $140,000.
Key numbers
Annual report details
- Met or exceeded about 95% of its 59 "service performance" targets in 2010-11 year.
- Total income $7.4 million, including $4 million local authority funding; up from $7.1 million the previous year.
- Operating surplus of $25,658 for year ending June 30, 2011, up from $2726 the previous financial year, before allowing for unfunded depreciation.
- Property, plant and equipment assets valued at $26.2 million.
