THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: WEDNESDAY, June 29, 1994 TAG: 9406290360
SECTION: LOCAL PAGE: B3 EDITION: FINAL
SOURCE: BY MARK MOBLEY, STAFF WRITER
DATELINE: 940629 LENGTH: NORFOLK
Orchestra officials announced Tuesday that an audit due Sept. 1 will show a balanced budget for the 1993-94 season.
{REST} ``I just can't underscore the importance of today's announcement enough,'' said the orchestra's new executive director, Daniel J. Hart. ``This is a monumental achieve-ment.''
In the 1991-92 season, the orchestra ran a $130,000 deficit. The following year, the group operated at a $383,000 loss. The accumulated debt of $1.1 million led to drastic reorganization and emergency fund raising.
This season, the orchestra paid its creditors with a loan from its own endowment fund.
New debts were avoided by cuts in expenses and growth in fund raising, ticket sales and other income.
The orchestra begins its 75th anniversary season Sept. 9. President Charles Armfield said plans include adding 15 seats to the board of directors, sponsoring a number of gala fund-raising events and producing another fund-raising marathon.
He said the board also would create a plan for increasing the ensemble's national exposure.
Hart, 35, joined the orchestra June 15. A former bassist, Hart just completed four years as executive director of the Colorado Springs Symphony, where he increased income and annual fund gifts by one-third. Hart's challenges in the coming season include negotiation of a new orchestra contract.
``The main thing we've been working on is to get as realistic a budget as possible,'' Hart said. ``It's always easy to ratchet down expenses and pump up income.''
Hart said this season's subscription sales are ahead of last year's. The orchestra has sold $525,000 in season tickets for the 1994-95 season.
Last June, $460,000 in tickets had been sold.
by CNB