MN Orchestra, Musicians Agree On Ind. Financial Review Firm

MINNEAPOLIS (WCCO) -- The Minnesota Orchestra and the Musicians' Union, who have been at a stalemate for months, have agreed on firms to conduct an independent review of the organization's finances.

The two have agreed to jointly fund the review. Orchestra musicians have been locked out for about half a year now.

Late last year, the Orchestral Association said its independent audit showed an operating deficit of $6 million for 2012. That audit was conducted by CliftonLarsonAllen.

The two firms agreed upon by both parties were not named in the press release, but were said to both be based in New York.

"We expect the review will move forward promptly, the next step being a final agreement on terms, and we hope it will serve as the foundation upon which the Union will create a counterproposal, so we can work toward a settlement together," Board Negotiations Committee Chair Richard Davis said.

It was also announced on Monday that the Orchestra would proceed with a fundraising study to investigate the feasibility of community funding. The Orchestra said the musicians declined to fund a portion of that study.

About a month ago, Minneapolis officials said that the loss of revenue to the city could be as much as $2 million over the course of a year.