San Francisco Opera Posts Small Deficit

Classic Arts News   San Francisco Opera Posts Small Deficit
 
The San Francisco Opera finished the 2004-2005 season with a deficit of $206,819.

The shortfall represents less than 0.4% of the company's annual operating budget of $57,800,000, according to a press release.

Karl O. Mills, president of the San Francisco Opera Association, said in a statement, "It is fair to say that we are cautiously optimistic, though higher pension and other benefits costs, artistic changes, and a small shortfall in ticket revenue for the fall season have contributed to a rise in operating expenses for this season that will need to be overcome during the remainder of this fiscal year."

San Francisco Opera posted a small surplus a year ago after two years of multimillion-dollar deficits.


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