Another SAS website lie refuted

The San Antonio Symphony has released its most recent audit report on the organization’s financial statements for the year ending June 30, 2021. The audit cited a deficit working capital of -$649,747 and noted that the impact of the pandemic on the organization has been substantial. See the full audited financial statement here.

It isn’t nice to lie, Corey.

It is true that in June, the San Antonio Symphony did have a negative working capital of $649,000, but that has been completely wiped out by the federal government aid since received by the Symphony (approximately half a million dollars in Shuttered Venue grants, and over $800,000 in an employee retention tax credit), and by the money saved by not paying the musicians due to the ongoing strike.

As of December 31, 2021, according to management’s own financials, the San Antonio Symphony working capital is $900,854 in the black.

I do agree that the impact of the pandemic on the San Antonio Symphony has been substantial. By any measure, nearly $2 million in PPP money, half a million dollars in shuttered venue grants, and $800,000 in the ironically named employee retention tax credit, is substantial.

And once again, not one word about the core mission of the Symphony Society of San Antonio, which is to present concerts.

-Mary Ellen Goree

Principal Violin II

Chair, Negotiating Committee