It was a black day for the Prince George Symphony Orchestra, in the best sense of the word.
PGSO representatives were once again standing before city council Monday night, to talk about loans to stabilize the city's orchestra.
This time, however, it was not to ask for a cheque, it was to present one.
"It gives us great pleasure to pay the final portion of this long-held debt," said Diane Rogers, PGSO board president. "Without it, there might well not be a symphony orchestra in our city today. The city recognized the importance of a having a professional orchestra in Prince George and demonstrated their commitment to this by agreeing to this loan. The board of directors is grateful to the city for its loan and thanks not only today's mayor and council but also the mayor and council of 2005."
The loan was cleared well ahead of schedule. Under the terms of the arrangement made by city hall, the PGSO had until 2030 to repay all the money. It was a $50,000 loan first taken out 13 years ago, and Monday's cheque was for the final $17,733.33.
The orchestra set a course of austerity budgets and aggressive marketing to attract audiences and sponsors, and it worked to such an extent that the borrow made from the taxpayer got returned well in advance, as a gesture of gratitude and good faith by the arts organization.
The symphony is not just clearing the city debt. The announcement on Monday included that the PGSO was free and clear of all red ink.
"In two years the Prince George Symphony Orchestra has gone from an accumulated deficit of $131,000 to being in the black," said Rogers. "Intense cost cutting at the administrative level, a close eye on the artistic expenses, and an always generous group of patrons and businesses have turned the organization's financial situation from negative to positive once again."
It puts the PGSO in a position not seen in a generation. They are on a financial foundation that is now beholden only to their own aspirations. The audiences have been responding in numbers to the programming of new artistic director Michael Hall and sponsors are confident in the direction of the organization.
"The board is committed to continuing on our path of fiscally responsible management and to continuing to provide excellent live symphonic music to the people of our community and region," Rogers said.
The next scheduled performance has not been officially announced, but the PGSO typically starts off any new season with September's Pops In The Park free concert at Lheidli T'enneh Memorial Park. The events of the 2018-19 season will be disclosed soon.
