The ballet laid off four of the its 120 employees, and instituted a hiring freeze for the coming year. An additional $200,000 was cut from the advertising budget. The company also reduced its fundraising goals for the year by nearly $500,000.

The 19-year-old Miami City Ballet plans to move into the city's new Performing Arts Center for the 2006-07 season. Rosenblum said costs for performing in the new venue have yet to be determined. "So the key is to be as stable financially as possible," he said.