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Minn. Orchestra reports $1M deficit for fiscal '13

December 12, 2013
Associated Press

MINNEAPOLIS (AP) — The Minnesota Orchestra reports an operating deficit of $1.1 million for the fiscal year ended Aug. 31, even though no official concerts were performed because of a musicians lockout.

The Minnesota Orchestral Association announced the results Wednesday at its annual meeting, which was closed to the public. Earned revenue totaled just $14,000.

The Star Tribune (http://strib.mn/19Dackk ) reports the loss contrasts with a record-high $6 million deficit in 2012, when the orchestra was performing. The board had cited what it called structural deficits in seeking pay concessions from musicians.

Board chairman Jon Campbell says the results indicate that the orchestra's business model is askew.

In a statement, the musicians say they're concerned that the orchestra's leadership "managed to spend $13 million and run a $1 million deficit while producing no concerts."

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Information from: Star Tribune, http://www.startribune.com

 
 

 

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