ABT Faces Another Budget Crisis

American Ballet Theatre is in another fiscal crisis. “Ballet Theater’s cash reserves dropped by more than $3 million — to $3.4 million from $6.5 million — in the last fiscal year, which ended in July, according to an audited financial statement recently released to its trustees. And a more recent financial report compiled by the company for the four months that ended on Nov. 30 showed an operating deficit of $3.8 million. People with knowledge of the company’s finances say this fiscal erosion has made it difficult for the company to pay vendors and meet payroll.”