Upstate New York’s embattled Saratoga Performing Arts Center (SPAC) has elected a whole new board, taken steps to become more responsive to community concerns, and done its best to respond to a scathing internal report that blasted its previous leadership and programming decisions. All that having been said, however, SPAC’s finances have turned out to be in even worse shape than anyone had predicted, and one of the new board members speculated at this week’s annual meeting that the organization would likely have been bankrupt within a year had changes not been made.