National Arts Centre Posts Rare Deficit

Classic Arts News   National Arts Centre Posts Rare Deficit
 
Ottawa's National Arts Centre posted a deficit of C$892,000 for the 2004-05 season, the NAC announced this week. The shortfall is the center's first in six years.

Because the center had accumulated total surpluses of C$1.2 million over the last six years, it still has an overall surplus of C$355,000.

In a press release, the center said that its board had "approved the operating deficit in order to allow the NAC to continue with its national activities on the condition that the corporation return to an operating surplus in 2005-06."

The NAC is in fact projecting a small surplus for 2005-06.

According to the Ottawa Citizen, the deficit was attributable in large part to the Alberta Scene Festival in 2005, which lost C$3.5 million, and to lower ticket sales for Pinchas Zukerman's NAC Orchestra.


Recommended Reading: