The Toronto Symphony closed its financial year with a $2.1 million defifcit. That “boosted the orchestra’s accumulated deficit to $9.47 million. The deficit stood at just over $7 million when the TSO teetered close to bankruptcy in 2001. Loan guarantees from the city of Toronto and the TSO Foundation helped stave off another near-death episode. The foundation also handed over $1.5 million in emergency financing, $1 million of which is repayable within five years.”