Budget Rationale

Our budget for the 2020/21 season is largely based on the assumption that income and labor expenses will be the same as the 2016/17 season. We estimated these costs based on previous revenue and expenses, assuming that the staff will stay around the same size and require the same salaries, benefits, etc. We also assumed that donors and the amount they contribute, as well as government grants and outside funding, would not change from year to year. However, the 2020/21 season differs from previous seasons in its production expenses. In these columns, we were able to estimate the cost of items and performers specific to the performances in our season. These items included things like decorations and food and drink for galas, film and music rights, and guest artist commissions and accomodations. The PSO has lost millions of dollars in recent years, so our goal was to match our expenses to our revenue as closely as possible, and we succeeded in doing so. Since our season is innovative and challenges the traditional PSO audience in different ways, we also created a contingency plan to give each event a safety net. In total, we anticipate a gain of $54,231.68 across the season.