The Minnesota Opera Board of Directors approves the fiscal year 2014 financial audit which posts a $173,000 deficit over a $9.8 million budget. We face this current deficit with a renewed commitment to producing award-winning operatic works in ways that lead to excellent financial standing.
Minnesota Opera moves forward with organizational plans to eliminate future deficits and return to its history of balanced budgets. President and General Director Kevin Ramach comments, "When it became apparent that Minnesota Opera would post a deficit in 2014, we began implementing positive changes including restructuring the company operations to streamline our fundraising, marketing, and communications efforts. We have engaged an external consultant to review our policies and procedures in the finance department in order to improve our productivity and efficiency. We are extremely grateful to our opera donors for their continued support as we review our administrative processes to correct this deficit.""The artistic product of Minnesota Opera is superb," says Jim Johnson, Chair of the Board of Directors. He continues, "the last two seasons have been just spectacular. We are confident that we can build the financial support we need in this community by making more people aware that Minnesota Opera is regarded nationally as one of the most innovative opera companies in the United States."Videos