Victoria’s symphony orchestra posts a financial deficit of nearly $800,000 for 2012.

The Melbourne Symphony has declared by far the worst figures of any of the state orchestras so far with 2012 revealing a substantial deficit of $798,816.

The orchestra’s board admits that financially, 2012 was a year of transition, as the MSO ended its two-year relocation to the Melbourne Town Hall, during the extensive renovation of Hamer Hall. MSO Chairman Harold Mitchell put a brave face on the result: “While the MSO was able to post a small surplus in 2010 and 2011 due to the generous business interruption funding that was provided by the Victorian Government to help offset the negative impact of the relocation on revenue and costs, the funding that was provided in 2012 was not sufficient to make up for the loss in revenue and the increase in costs following the return to Hamer Hall,” he said. In a more upbeat ending he added that “the MSO’s consistently rigorous financial management over a long period means the Orchestra has a balance sheet that allows it to absorb a deficit for 2012 whilst still retaining reserves in excess of $3 million going forward.”

MSO Managing Director...