Baltimore Symphony's Debt to Reach $16 Million

Classic Arts News   Baltimore Symphony's Debt to Reach $16 Million
 
The Baltimore Symphony will likely have an accumulated deficit of more than $16 million by the end of the 2005-06 season, the orchestra's interim president told the Baltimore Sun in an interview published today.

The BSO had a debt of about $4 million in mid-2004. But the orchestra ran a deficit of $7.3 million in 2004-05 and expects a shortfall of $4.5 million in the current fiscal year.

W. Gar Richlin, a board member who took over as president and CEO when James Glicker resigned in January, told the Sun that he was aiming to balance the orchestra's budget next season. He declined to be specific about budget cuts, but would not rule out reducing the number of full-time musicians or eliminating year-round employment for players.

Jane Marvine, a musicians' representative who sat in on the interview, said that players would support "creative solutions" to reach fiscal health, but would not accept changes that would damage the artistic quality of the ensemble. The players' current contract expires in September.


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