Mso Reports Deficit for Year; but $2.61 Million Beats Set Ceiling

Summary

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At its annual meeting Wednesday, the Milwaukee Symphony announced an operating deficit of $2.61 million for fiscal 2004-'05.

In a way, that's good news for the orchestra. It beats the $2.88 million deficit ceiling set for the first year of a three-year, $15 million recapitalization plan. That plan is designed to erase debt that now totals $10.5 million; $5.5 million owed to banks and $5 million to its endowment.

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Extract

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Mso Reports Deficit for Year; but $2.61 Million Beats Set Ceiling

The plan prescribes a deficit of no more than $688,000 for 2005- '06 and a small surplus for 2006-'07. At an interview before the annual meeting, President ...

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