In Thursday’s (11/3) The Record (Waterloo, Ontario), Valerie Hill reports, “After reviewing their 2010/2011 season financials at the annual general meeting on Thursday, the Kitchener Waterloo Symphony seems on more solid footing. Board chair Ron Craigen said he was ‘delighted to report’ that as of fiscal year end on July 31, the symphony made a surplus of more than $100,000. But he was quick to add there is a still deficit looming. Last season, the symphony ended the fiscal year with a $632,000 deficit, which has since been reduced to $530,000. ‘That we finished with a surplus is certainly a significant achievement,’ said Craigen. ‘We’re well aware we have an accumulated deficit. We’ll have to duplicate this feat, year after year. Our financial strength has been our top priority.’ The good news included a considerable increase in concert subscriptions: 914 more than the prior season for an additional $112,332 in revenue. … It was also announced that there is a new four year agreement with the musicians. Expenditures for orchestra, guest artists, and conductors rose from $2.76 million to about $2.86 million. A strategic plan, which has been in the works for several months, was unveiled at the general meeting. Much of the plan focuses on goals including creating innovative and inspiring music, being welcoming and inclusive to audiences, and being community-focused.”
Posted November 4, 2011
