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Detroit Symphony Orchestra reports $8.8M deficit

DETROIT, Dec. 10, 2010 (AP): Management says the Detroit Symphony Orchestra, whose musicians have been on strike since Oct. 4 in a pay dispute, finished the 2010 fiscal year with an $8.8 million deficit.

A statement from the symphony Thursday says the deficit for the fiscal year ended in August included a $6.7 million operating shortfall and about $2 million in pension obligations and debt service on the Max M. Fisher Music Center.

The symphony had a $29.3 million operating budget.

CFO Rozanne Kokko tells The Detroit News the symphony needs to ``get a balanced budget that's fiscally responsible and sustainable.''

Musicians' spokesman Hayden McKay said striking members urged attendees to press the board for answers about stalled negotiations. McKay said management ``tried to put a good face on things, but it doesn't add up.''

 

 
 

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