About 50 members and supporters attending the 64th annual meeting of the Lakes District Museum and Gallery in Arrowtown heard on Thursday night the business made a net profit of $3485 in the year ending July 31.
This figure came after an alarming loss of $66,091 the previous financial year.
John R. Wilson, of Arrowtown, said in his last report as chairman before returning as a committee member, the museum was in "a much better financial position" after restructuring, ending with a small profit after depreciation and an improved balance sheet.
The introduction of the Xero accounting software contributed to running a more efficient and cost-effective accounting system, Mr Wilson said.
The museum made submission on the draft annual and long-term plans of the Queenstown Lakes District Council resulting in the annual grant being increased "to a more realistic level for the amount of work we do within the community", he said.
"The board is very grateful to the council for this increase and sees it as recognition of the work we do."
The board looked forward to a resumption of projects to keep the museum up-to-date, including the often delayed upgrade of customer toilets.
Expensive earthquake strengthening of the complex was required, especially the historic former bank on the corner of Buckingham and Wiltshire Sts.
Museum director David Clarke, of Arrowtown, told the Queenstown Times the restructuring, the change in accounting system and a relatively good summer season with increased sales, as well as a skeleton staff going the extra mile, all helped deliver the positive result.
Guest speaker was Arrowtown resident David Wright, billed as "golf coach and mentor to Hollywood stars and presidents".
An exhibition of his rare and unusual memorabilia was tipped for the museum next winter.
The museum is preparing to open the special exhibition "Gold is Where You Find It: 150 Years of Gold in Central Otago" on October 19. It will run until mid-February.
