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By Ben Mattison
29 Nov 2005
The Canadian Opera Company ran a surplus of C$42,000 in 2004-05, the Toronto company announced at its annual meeting last week.
The COC balanced its budget in 2003-04 only by transferring C$1.4 million that had been raised for the construction of its new home into its general fund. This year, board president J. Rob Collins said, the company "produced a surplus without the aid of Canadian Opera House transition funding."
For the second year in a row, the COC's attendance was at 95 percent of capacity. Box office revenue rose by more than 15 percent to a record C$8.3 million, and fundraising rose by 7 percent.
The company also said that attendance remained strong during the first months of the 2005-06 season, and that construction of the new Four Seasons Centre for the Performing Arts was proceeding as scheduled and on budget. The COC will move into the new building in September 2006.
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