The Milwaukee Symphony is still in the red to the tune of $2.61 million for the 2004-05 season, but taken in a larger context, the deficit may actually be good news for the ensemble. The shortfall is actually less than the MSO’s board and management budgeted for the year, and easily met the goal for the first year of the organization’s three-year recapitalization plan. Under that plan, the budget would be back in the black by the end of the 2006-07 season. The MSO has been hurting financially for quite some time, and a new executive director made severe cuts in the organization this past season to get the budget under control. The orchestra’s musicians also accepted a temporary pay cut.