Baltimore Symphony Faces Deficit Of $750K Or More
BALTIMORE (AP) — The Baltimore Symphony Orchestra is grappling with a deficit of at least $750,000 in the last fiscal year after four years of balanced budgets.
BSO President and CEO Paul Meecham tells The Baltimore Sun that increased ticket revenue and cost-cutting wasn’t enough to make up for fundraising declines.
Last year’s budget was $25.5 million. This year’s budget has grown to $26.5 million.
To avoid further deficits, the BSO’s administrative staff plans to take a one-week furlough at the end of the year. Other cuts are also being made. One upcoming program is being substituted so additional players won’t have to be hired.
Musicians took pay freezes and cuts in recent years. Base pay was to rise to $90,000 by 2012, but that was scaled back to less than $70,000.
(Copyright 2012 by The Associated Press. All Rights Reserved.)