In Friday (6/22) Florida Times-Union (Jacksonville), Charlie Patton writes, “A clearly frustrated Jacksonville Symphony Association board reported Thursday that despite a revenue increase of almost $650,000, the association again lost money during the 2011-12 season. With an operating budget of $8.6 million, symphony ran a deficit of $450,000 for the year. That means the symphony is now about $3 million in debt. Because the symphony received about $984,000 from non-recurring major gifts during the year, it could face a $1 million deficit next year if expenses aren’t significantly cut or revenues significantly increased, said Kay Nichols, chairman of the finance committee. … The contract the musicians signed with the symphony in 2008 after a two-month lockout has expired. [Principal clarinetist Peter] Wright told the board that its negotiators have proposed reducing the base salary for core musicians during the 37-week season by 20 percent, from $40,000 to $32,000. … Executive director Stacy Ridenour said she is searching for ways to cut costs but that ‘our solution is going to be a combination of cost reduction and revenue enhancement.’ The board has been increased by about half a dozen members to 57 people and has been split into a corporate board and a community board.”
Posted June 22, 2012
