The Florida Orchestra, buoyed by a flurry of last-minute contributions, has cut its deficit for the 2002-03 season to $500,000. The organization had been expecting to run somewhere between $1 million and $2 million in the red, due to slumping ticket sales and a drop-off in contributed income. Last month, the orchestra’s musicians accepted a 16% pay cut in an effort to keep the orchestra afloat during the economic turmoil.