The trustees of the Powerhouse Museum knew about the losses around the institution's fashion ball after which the government announced a leadership restructure and the museum's director, Dolla Merrillees, stepped down.

Two weeks after the February 1 fundraiser, trust president, Professor Barney Glover, congratulated the museum's staff on the event's success, according to board minutes obtained by Fairfax Media under Freedom of Information laws.

Professor Barney Glover (far right) with Premier Gladys Berejiklian as she announces Powerhouse Museum's new Parramatta site. Credit:Cole Bennetts

At its second meeting of the year in May, the board ''noted'' a summary of the final budget breakdown for the black-tie event which was later revealed to have cost the museum $215,209.50. After discussions of the ball's finances, the trust made no recommendations.

The trust was instead concerned by the government's new ''governance'' structure which is expected to reduce the board's direct oversight of the $1.2 billion museum build on the Parramatta riverfront and redevelopment of the Ultimo site.