UApresents has received a $1.2 million internal loan from the university that will ensure its future for the next two years, said Natalie Bohnet, director of UApresents.
“”The total amount of money taken off of the books was the accumulated deficit of $952,000 as of June 30, 2006,”” Bohnet said.
Additionally, Bohnet said a loan of about $260,000 for the Tessitura ticket system purchased three years ago and shared with the College of Fine Arts has been written off.
President Robert Shelton said the money was most likely made available through the allocation of non-state funds. Because the money was needed only once, it was easier to make available than money needed on a recurring basis, Shelton said.
“”We’ve basically balanced their books, so they are no longer running in the red,”” Shelton said.
However, Shelton added, the loan was given solely based on an understanding that UApresents must operate in the black for the next two fiscal years and eventually repay the loan back to the UA.
Administrators are waiting for sales data of the next two fiscal years to determine the deadline for repayment and make further decisions on the future of UApresents.
“”I have given them the OK to book shows until the end of the 2008 season. If they are running in the red again after that, maybe they will be gone,”” Shelton said.
UApresents had one of the largest debts of all UA departments and required an immediate loan to ensure performance, said Ed Frisch, vice president of academic resources, planning and management.
“”By giving UApresents a loan, we hope to boost confidence which will stimulate a higher amount of sales and production,”” Frisch said.
To accomplish the goal of increasing revenue, UApresents plans on reducing the number of shows per year from 100 to about 40 or 50, Shelton said.
“”We are booking shows that will appeal to the community and also make money,”” said Mario Di Vetta, UApresents’ marketing and publicity associate.
Shows such as “”The East Village Opera Company,”” which combines opera standards with rock, are the types of shows UApresents hopes will increase revenue.
The show is set to premiere Nov. 2 and has “”been described as ‘Rigoletto’ meets the Ramones,”” said Di Vetta.
“”UApresents, I think, is an important contributor to the quality of life and adds to our mission of community outreach,”” said Shelton, who was an advocate of UApresents while still at Chapel Hill. “”We do more here than study and teach, but the question is: how much can you spend in that direction?””
Bradley Rhea, a theatre arts sophomore, said he is glad the university is reaching out to help such an important program.
“”UApresents is an organization which has brought a lot of hope to the university, as well as to myself and my own aspirations as a student studying theatre arts,”” Rhea said. “”It’s an inspiring and insightful resource.””
Bohnet said her goal is to create a financially stable organization that will enrich the lives of the UA campus and surrounding areas by bringing to Tucson productions not otherwise made available, especially “”world-class classical music, jazz legends and the best in dance and music.””
Di Vetta said the loan illustrates an important message of support from the university, the community and the staff.
“”We will be here again. We are an important part of the U of A, and we’re not going anywhere,”” Di Vetta said.
