Budapest Festival Orchestra
News November 13, 2017

Statement of BFO

The State Audit Office of Hungary published the report on the investigation of the Budapest Festival Orchestra Foundation’s finances yesterday. The report concludes that the Foundation has used the grants in full accordance with the rules of public funding and that the registration and the reckoning of the subsidies were in compliance with the legal and public funding provisions. However, the State Audit Office challenged some of the internal rules of the Foundation, which will be developed based on the suggestions of the State Audit Office. These steps will be completed by the Foundation by the given deadline to fully meet the regulations. The deficiencies will be reviewed by the Supervisory Board and the Board of Directors and they will take the necessary steps to remedy the omissions.