Indianapolis Symphony Announced Balanced Budget

Classic Arts News   Indianapolis Symphony Announced Balanced Budget
 
The Indianapolis Symphony has ended the 2006 fiscal year with a $4,922 surplus on a $26.4 million budget; its third consecutive year in the black.

There was more good news for the ISO during the 2005-06 season: it received $6 million from 7,000 donors; overall ticket sales increased by 9.4%, with total sales of $6.7 million; there was a record $1.5 million in ticket sales for the ISO's holiday production of Yuletide.

The ISO musicians and management also recently ratified a new three-year contract that went into effect retroactively to September 4.

The new agreement calls for ISO musicians' salaries to increase between 3% and 5% annually, for a total of 12.6% over three years. Improvements were also made in medical, retirement and family benefits, including the addition of newborn-care leave.

ISO president and CEO Simon Crookall said, "Two major accomplishments in the past fiscal year will contribute greatly toward the orchestra's artistic and financial future: the ratification of a new three-year contract with our musicians that was reached through a constructive and collaborative negotiation process, and a balanced budget for the third consecutive year."


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