The Saint Paul Chamber Orchestra has ended the 2007-2008 season with a budget surplus and has retired a large deficit from five years ago.
SPCO President and General Manager Sarah Lutman said the good news is the result of careful management of resources and an aggressive effort to grow new audiences.
"Well, it actually worked by very carefully adhering to a long term plan for increasing revenue and holding down expenses all the while investing in artistic excellence. So expense growth was held to a very modest level while revenue was urgently worked on to increase on a number of fronts," Lutman said.
The SPCO ended it's fiscal year with a surplus of almost $127,000. Lutman said while it's good to begin the new year with a surplus, the coming year will be very challenging for everybody.
Lutman said individual donations to the SPCO are up, but there has been a slight drop in corporate giving.