Balanced budget for Rochester Philharmonic

Posted on: January 28, 2011

In Thursday’s (1/27) Democrat and Chronicle (Rochester, New York), Anna Reguero reports that the Rochester Philharmonic Orchestra “announced Wednesday at its yearly finance meeting that it balanced its budget for the 2009-10 fiscal year, running from Sept. 1, 2009, to Aug. 31, 2010, ending with a small surplus of $2,416. It comes after a $776,000 shortfall for the prior fiscal year. … The balanced $9.2 million budget is the result of $520,000 in salary reductions. Also, a fund-raising challenge that included matching gifts for up to $500,000 resulted in $1.1 million in additional donations. … Subscription rates are at an all-time high, attributed to it being [Christopher] Seaman’s final season as music director. The orchestra has also seen increased revenue from the new box seating in the theater, and its endowment has recovered 50 percent since its low point in February 2009. Musicians also continue to make sacrifices. They agreed to another round of concessions in October to save $500,000 more. Questions remain about how the orchestra will begin to restore the cuts and push forward. RPO board chairwoman Suzanne Welch said that a new four-year strategic plan will be announced in the spring or summer, which will outline ways the organization plans to restore salaries and fund new initiatives by incoming music director [Arild] Remmereit.”

Posted January 28, 2011