Thanks to better-than-expected fundraising and ticket sales in 2004-05, however, the organization posted a deficit of $312,000—$259,000 lower than the target.
"The good news is that we exceeded our financial recovery targets by cutting expenses across most budget categories while increasing revenues across most sales and contribution categories," said COO David Green. "This is a more strategic and sustainable approach than a few drastic cuts or a small number of large donations, and gives us hope for the challenges of the next two years."