04 Feb 2012

SFO Faces Deficit


By Frank Cadenhead [Opera Today, 4 February 2012]

February 4, 2012. With a budget of $71 million dollars, the San Francisco Opera announced a deficit for the FY 2011 year. But the numbers, in the Opera’s press release, contain some good news to offset the negative bottom line. The deficit, some $1.8 million, according to the annual audit, was largely the result of increases in operating costs of over 9%. The opera’s general manager, David Gockley, declared that “steps will continue to be taken between 2013-2016 to reduce expenses, increase annual contributions and augment the endowment.”