CARY - Koka Booth Amphitheatre at Regency Park is on pace to end the current fiscal year with the smallest deficit of the venue's short life, according to year-end budget projections.

Revised estimates released last week predict that Booth Amphitheatre will end its budget year with a deficit just under $120,000. That's about 31 percent less than the 2008 season deficit.

The six-year-old amphitheater's budget year runs from November thru October to more closely coincide with the performance season, according to the town. "It was a very positive year financially and programmatically," said Lyman Collins, the town's cultural arts director. "I thought we had a good diversity of programs."

Earlier this year, town officials had forecast a loss of $222,437 for the 2009 season. Collins said the town deliberately plans for higher deficits to account for a wide range of variables that can affect the venue's financial framework.

"There are so many things beyond our direct control," Collins said, citing weather and the availability of touring acts as examples. "But the trends have been good."

A number of factors contributed to this year's success, according to the town. Among them:

• In January, SMG, which manages the amphitheater for Cary, recommended a change in concert promoters from Live Nation to Outback Concerts. During the 2008 season, Live Nation promoted 10 shows that resulted in a net loss of about $50,000. This year, Outback Concerts promoted 13 shows, which exceeded budget expectations by about $33,000.

• Cary abandoned its winter festival, Tinsel Town, after two unsuccessful years. According to the town, Tinsel Town resulted in financial losses of about $30,000 in 2006 and 2007. The festival was not scheduled in 2008 due to planned renovations at the amphitheater.

• Sponsorships remained flat amid the economic decline. The $98,500 received in sponsorships for the 2009 season is roughly the same amount received in 2008.

The amphitheater also cut its operating expenses by eight percent during the 2009 season.

Collins said the town is projecting a deficit of $210,067 for the new fiscal year, which begins Nov. 1.