shows the not-for-profit organisation ended the 2020 calendar year with a surplus of more than $1.5 million. In 2019 its surplus was $600,000 and in 2018 it was $260,000.Credit:The rosy result raised eyebrows within the organisation, given the dire predictions that came last year, although no musicians wanted to comment on the record as the orchestra tries to healwith management. Musicians are still earning 80 per cent of their contracted salaries despite being back in full-time work.
She said the company was “very proud” to have emerged from the longest lockdown of any Australian city orchestra without plunging into the red, and without losing any employees. “Still the audiences are a bit cautious with coming back in the halls,” she said. “We need to encourage everyone to come back.”Galaise also pointed out that the Sydney Symphony had reported a $7.8 million profit for the 2020 calendar year.She said hindsight was “always easy” but the threat of insolvency had been very real and she had pledged to be completely transparent with staff about their position.
The annual report shows the MSO saved $2.1 million in reduced employee expenses in 2020 compared to the year before - an 11 per cent pay cut. Compensation to the 10 people in senior management fell by $127,000, or 7 per cent .
MelbSymphony NickdMiller Ooh, this is going to require a retraction and an apology. I sure hope you haven’t hurt their fundraising with erroneous journalism.
MelbSymphony NickdMiller Are we going to demand they repay jobkeeper?